Article Summary
This article explains how bitcoin auto-withdrawals work on River, including balance thresholds, network fees, and eligible funds.
Auto-withdrawals allow you to send bitcoin on-chain from your River account to a bitcoin address on a recurring basis. You can set a balance for initiating a withdrawal, with a minimum amount of 0.005 BTC. When your settled bitcoin balance reaches the limit you have set, an auto-withdrawal will initiate to the bitcoin address you entered. When creating your auto-withdrawal, you also have the option to leave a portion of your bitcoin balance on River.
- For example, you could set a maximum bitcoin balance of 1 BTC that leaves no balance on River. Once your settled bitcoin balance reaches or exceeds this amount, your entire bitcoin balance will automatically be withdrawn to the entered address.
- Alternatively, you can choose to leave a portion of your bitcoin balance on your River account, such as 0.25 BTC. When your set bitcoin balance is reached, all settled bitcoin will be withdrawn to your entered address except the remaining 0.25 BTC that stays on River.
Any bitcoin auto-withdrawal will first enter a pending state while it is processing. After the bitcoin has reached the entered address, you can review your auto-withdrawal details in your account activity. You will also receive a confirmation email notifying you of the withdrawal. For more information on how to start an auto-withdrawal, please see this Help Center article.
Bitcoin network fees
Bitcoin network fees associated with an auto-withdrawal will not exceed 3% of your transaction size and will be deducted from the balance being withdrawn. If your balance is equal to or greater than the maximum bitcoin balance you set, your withdrawal will remain in a pending state until the Bitcoin network fees are less than or equal to 3% of your transaction size. The exact fee deducted from the withdrawal amount will be stated in your confirmation email and your transaction details once sent.
If your settled bitcoin balance increases while you have a pending auto-withdrawal, the bitcoin will be added to the pending withdrawal amount.
For example, if you have a pending auto-withdrawal of 1 BTC and you receive 0.5 BTC, your pending withdrawal will now reflect 1.5 BTC. The auto-withdrawal will send once on-chain fees are less than or equal to 3% of the total transaction size.
Funds available for auto-withdrawal
Only settled bitcoin is available for auto-withdrawals. Bitcoin purchased using a linked bank account is subject to a holding period.
Please note that bitcoin purchased using a linked bank account will instantly appear in your bitcoin balance, but will not be available to withdraw until clearing the holding period.