OpenNode provides two ways to move Bitcoin from your OpenNode account to an external Bitcoin wallet:
- Scheduled withdrawals
- Instant withdrawals
Scheduled withdrawals are a free way to move your Bitcoin earnings from the OpenNode platform to an external Bitcoin wallet. You can enable scheduled withdrawals by selecting the toggle on the Wallets > Bitcoin wallet page.
Once enabled, OpenNode will process the scheduled withdrawal on the nearest upcoming Monday at 11:30 UTC (Universal Coordinated Time), and at the same time every Monday thereafter. If you would like to stop these withdrawals, simply disable the toggle.
You have the option to select what percentage of your OpenNode Bitcoin balance that you'd like to withdraw to an external Bitcoin wallet, from 1% to 100%. We recommend setting the withdrawal percentage to 100%.
OpenNode processes scheduled withdrawals for free* and they are always posted on-chain.
*OpenNode covers on-chain mining fees on weekly withdrawals 😁
Instant withdrawals allow you to move your Bitcoin to either a Lightning Network or standard, on-chain Bitcoin wallet, instantly. Instant on-chain withdrawals incur a 1% fee while instant lightning transactions are always free. You can initiate an instant withdrawal by selecting "Instant" on the Wallets > Bitcoin wallet page.
On-chain Bitcoin withdrawals can be initiated at any time, on any day. The final settlement time will depend on the temporal demand on the Bitcoin blockchain. We have set up OpenNode withdrawals to to settle within one block confirmation, typically resulting in a sub-10-minute settlement time.
Lightning Bitcoin withdrawals can be initiated at any time or day as well. Lightning transactions are designed to settle instantly, so you should receive your funds within seconds after completing the withdrawal.
- On-chain only
- Processed once weekly (Monday at 11:30 UTC)
- 1% fee for on-chain, free for lightning
- On-chain or Lightning
- Instant processing