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There may come a time when you want to withdraw Freeway tokens from your account. It’s a simple process, which I outline in this article.
I can think of two reasons.
To begin, click on the pink Withdraw button at the top of the Freeway Token section of the dashboard.
You’ll have to authenticate yourself using your Google Authenticator 2FA before you can proceed.
Enter the 6-digit code from the app on your phone, then click Authenticate.
Now you’ll see the start screen of a form. Click Start to begin.
For some reason, Freeway gives you two options, even those there’s only one that works — ERC20. Why? Because there are no exchanges that will accept the tokens over the BEP20 network.
Click on ERC20 (Ethereum Network) to select it. The form will proceed to the next step.
Enter the number of tokens you want to withdraw. Click OK.
If you used the Deposit option in the global app to add tokens to your account, send your tokens to that exchange (e.g., AscendEX) or wallet (MetaMask).
Go to your wallet or exchange and copy the deposit wallet address. Then return to the form and enter it in this step of the form.
If you purchased the tokens using the Freeway app’s Purchase functionality, you may need to create an account with an exchange that has listed FWT.
Click OK to proceed.
If you have anything else you want to tell the Freeway staff, enter it here. Click OK to proceed.
Click on I accept. Then click Submit to send the form.
The Freeway staff will process your request and send your tokens to the wallet address you provided in the form.
In a few hours, check your wallet or the exchange to see if your tokens have arrived. If they haven’t landed there in 12-24 hours, contact Freeway Support.
The whole point of withdrawing some Freeway tokens is to have some cash.
To get that cash, you’ll first need to sell the tokens on AscendEX or BKEX for another crypto asset. The best choice would be a stablecoin, such as USDT. On both AscendEX and BKEX, USDT is your only choice.
Once you have the tokens converted to the available stablecoin, you can convert those tokens to fiat currency and withdraw the funds. You’ll have to send the stablecoins to Coinbase or another exchange that will convert to fiat.
Note that each transaction in this process will cost you some money. And since some of them are ERC20 transactions, the gas fees could be expensive.
So wait for a time when the gas fee is low. Sunday mornings (Eastern Time) usually have low gas fees, because the number of transactions is low then.
Retirement is no fun when we’re constantly short on money. I hope the money you receive from withdrawing your tokens lets you flourish a bit more.
If you’re not, you’re missing out on up to 43% annual interest on your assets, and an estimated 15-30% on your Freeway tokens. Stay ahead of inflation instead of watching high prices eat away at your retirement.
Click the button below to join.
Disclosure: If you join using the button, you’ll receive a bonus of 2% of the interest you earn, for the next two years. Freeway will also pay me for referring you.