Add collateral to an exchange account
Prerequisite
In order to expose the Off-Exchange operations buttons such as Add Collateral, you must first Enable Off-Exchange via the Enable Off-Exchange button. Once you select this button, Fireblocks automatically confirms the account validity with the provider for Off-Exchange.
To add funds to your exchange account using the Fireblocks Off-Exchange solution:
- Go to Accounts > Exchanges in the main workspace. You cannot initiate collateral transfers from the collateral workspace of your Fireblocks Console. Collateral transfers can only be initiated from the main workspace.
- Within the exchange account that has Off-Exchange enabled, select Add collateral.
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On the New Transfer window, select the asset you want to transfer and the source vault account for the transfer. Note that the destination is already configured as a Collateral Vault Account.
- Enter the net amount you want to transfer and set the fee you want to pay.
- Select Add Collateral.
The exchange continuously monitors the on-chain balance. Once the on-chain transaction is complete, the exchange will instantly update your credit on their side accordingly.
Important:
Only send funds to a CVA using the method above. Any other method will fail to notify the exchange and not credit your collateral account. Do not boost or drop stuck transactions to the exchange collateral account. If a transaction is stuck, please contact Fireblocks support to resolve the issue.
Remove collateral from an exchange account
Notes:
- You may transfer any available balance from the CVA. This is any balance not currently held in an open position. Additionally, if you want to withdraw funds held on the exchange but not in the CVA, you must wait for settlement before withdrawing those funds.
- The removal operation is subject to exchange approval.
To remove collateral from your Collateral Vault Account:
- Go to the Exchanges tab in your Fireblocks Console.
- Select the Remove collateral button.
- Select the asset you want to withdraw from your CVA.
- Select the destination where the withdrawn funds should be sent.
- Enter the withdrawal amount.
- Select Remove Collateral.
Once funds are approved for withdrawal by the exchange, the available balance on the exchange is reduced appropriately.