What are Bitcoin automatic withdrawals?
Automatic withdrawals allow you to set up automatic Bitcoin withdrawals from any of your River sub-accounts to self custody via on-chain transfer. You can choose the maximum Bitcoin balance that will initiate your automatic withdrawals. We allow a minimum threshold of 0.005 BTC. You can even choose to keep a set portion of your Bitcoin balance on River.
Once this is set up, your automatic withdrawals will be initiated once your Bitcoin balance meets your desired threshold. Your withdrawal will then enter a ‘pending’ state while it is being executed. Once successfully executed, you will be able to see the details of your automatic withdrawal transactions in your account activity and you will receive a confirmation email.
Bitcoin Network Fees
Bitcoin network fees associated with your withdrawal will not exceed 3% of your transaction size and will be deducted from the balance being withdrawn.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 to initiate an automatic withdrawal, 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 upon execution.
Funds Eligible for Automatic Withdrawal
Only settled Bitcoin will be withdrawn. Bitcoin purchased using an ACH transaction will be subject to River’s standard holding period. Bitcoin purchased using these funds will appear in your “Total Balance,” but will not be reflected in your “Available Balance” until settlement occurs (i.e. the amount of Bitcoin eligible for withdrawal.)