Why and How to Transfer Assets from a Centralized Exchange to Guarda

Centralized exchanges (CEXs) are often the first touch with crypto for many users. Binance, Coinbase, Kraken, and OKX are well-established exchanges that are easy to navigate. However, when your funds stay on an exchange, the exchange controls the wallet and holds the private keys. It’s common to buy and trade crypto on a CEX, then move the funds you plan to hold long-term to a self-custody wallet. A common rule of thumb is not to leave more on an exchange than you're willing to lose.

Moving crypto to a self-custody wallet like Guarda is the next step in your crypto journey. That way you become the only person who controls your crypto.

• You have full ownership of your assets.
• You can use decentralized apps (dApps) and other Web3 services.
• You send, receive, swap, and manage crypto without relying on an exchange completely.
• You store your assets separately from your trading account that are often exposed to hacking risks.

But self-custody also comes with responsibility. Since only you control your wallet, it's important to secure the backup and the mnemonic (recovery phrase) and never share it with anyone. If you haven’t done it already, read the full instruction here.

How to Transfer Crypto from a CEX to Guarda on Mobile, Desktop, Browser Extension, and Web

Before you begin, make sure you've already created the wallet in Guarda for the cryptocurrency you want to receive. Then, to move your funds from a CEX to Guarda, follow these steps:

1. Open Guarda and open a wallet for the crypto you want to receive.
2. Copy that wallet address.
3. Log in to your exchange account.
4. Find the asset you want to withdraw and select Withdraw or Send.
5. Paste your Guarda wallet address.
6. Select the same blockchain network supported by both the exchange and Guarda (for example, Ethereum, BNB Smart Chain, Polygon, or TRON).
7. Enter the amount you want to transfer.
8. Review all details carefully: double-check the network match and address’ characters.
9. Confirm the withdrawal and complete required security verification like 2FA.
10. Transfers usually arrive within a few minutes, although they may take longer during periods of high network activity or if the exchange requires additional processing time.

Important: Always make sure you're sending the correct asset on the correct network. Blockchain transactions cannot be reversed.

Continue Managing Your Assets in Guarda

Once the transaction is confirmed, your crypto will appear in your Guarda wallet.

You can continue using the same wallet address whenever you want to transfer more funds from your exchange. From there, you can securely store your assets, swap cryptocurrencies, connect to Web3 applications, or use other features available in Guarda.