Does Alpaca support Crypto Wallets?
Yes, Alpaca now offers Crypto Wallets as a new convenient way for users to deposit and withdraw crypto assets.
Where can I find Crypto Wallet?
You can access your Crypto Wallet in the sidebar on your Account Dashboard under “Crypto Transfers”.
Why can't I find the Crypto Transfers screen?
For Crypto Wallets, we currently support users in select international jurisdictions and the following 25 US states:
- North Carolina
- North Dakota
- Rhode Island
- South Dakota
We have plans to roll out Crypto Wallet support in more states and international jurisdictions.
What enables a user to be qualified to use crypto wallets?
Any Alpaca user located in a supported state or international jurisdiction with a valid crypto account by signing the crypto agreement is eligible for Crypto Wallets.
What assets and blockchains do you support for crypto deposits and withdrawals?
We currently support Bitcoin, Ethereum, Solana, and USDT (ERC20) for deposits and withdrawals each on their respective blockchains. We plan to roll out support for many more assets and chains relatively soon.
What are the fees associated with Alpaca’s crypto wallets?
Alpaca’s Crypto Wallets are completely free to use. The only fees associated with wallets and the transferring of assets in and out are the corresponding network fees (also called on-chain fees).
When you initiate a deposit from an external source to Alpaca, you will have to cover the deposit fee which covers the underlying network fees.
For withdrawals, Alpaca will deduct the necessary amount to cover network fees upon initiating an external transfer on-chain.
How secure are crypto funds with Alpaca?
Alpaca is SOC II certified and leverages segregated secure compute environments for any cryptographic assets. We ultimately store crypto assets with our downstream crypto custody provider.
Additionally, Alpaca has also added account protection in the form of MFA enforcement and whitelisting on withdrawals to ensure assets remain safely on the platform.
I have deposited crypto assets to Alpaca’s provided address, but I do not see the funds. What's going on?
We currently have a small delay at times with identifying pending and recently confirmed deposits on-chain. If you send crypto assets to your Alpaca-provided address, your funds will be safe and will be reflected on the dashboard shortly. Additionally, you will receive an email notification once assets are ready to trade.
If you sent crypto assets to the provided address and more than an hour has elapsed and you have not received any confirmation from Alpaca, please reach out to [email protected].
Can I withdraw my crypto?
Yes, you can. Make sure you whitelist your wallets first.
Why do I have to whitelist addresses for withdrawals?
Alpaca wants to ensure your funds remain safe in your account. In order to protect your funds from hostile account takeovers, we impose a 24-hour period for adding new wallet addresses in which you can withdraw funds.
This is done to give you enough time to react in case someone wants to withdraw your crypto funds externally without your permission. We will send email notifications in advance whenever a new wallet address is associated with your account.
What can I use deposited crypto funds for?
Deposited crypto-assets can only be used for trading. We will be rolling out other ways to use your deposited assets in the near future.
Can I withdraw and send crypto to any address?
Yes, as long as you whitelist the address beforehand and the destination address is cleared by our upstream KYT provider.