How to Withdraw Money from Hamster Using Bybit
Date of publication: 08.11.2024
Time to read: 4 minutes
Date: 08.11.2024
Read: 4 minutes
Views: 317

How to Withdraw Money from Hamster Using Bybit

In the game Hamster Combat became available withdrawal of earned tokens to centralized exchanges and cryptocurrency wallets, in this article we will consider how to do it point by point.

Withdrawing game coins to a Telegram wallet

Hamster Combat tokens can be withdrawn not only through centralized cryptocurrency exchanges, but also to a custodial wallet, which is integrated into Telegram Wallet. In order to take advantage of all the features of this wallet, you need to create a new wallet and go through a standard identity verification procedure.

Creating a wallet in Telegram

  1. Open the Telegram Wallet application: Contact @wallet.

  2. Go to the “Settings” section in the upper right corner of the screen, open the “Verification Level” item and select the basic level.

  3. Go through the identity verification (KYC) procedure by uploading a photo of one of the official identity documents (citizen's passport or driver's license). After successful identity verification, the wallet will be ready for use.

  4. You can also create a non-custodial Ton Space wallet in the wallet settings. To do this, you need to specify your e-mail, save the issued seed phrase (consisting of 12 or 24 words), and the wallet will be ready for use.

Withdraw Hamster to Wallet in Telegram

To withdraw tokens to your Telegram wallet, you need to open the Hamster Combat game, go to the Airdrop section, and then select the option to withdraw to Wallet in Telegram. Then you should click the Connect Wallet button, which will connect your Telegram wallet with the application. After successful connection, you will need to confirm the transaction in the wallet to credit tokens to your account.

Transferring coins to a crypto exchange

Tokens can be transferred to one of the numerous centralized cryptocurrency exchanges. To do this, in the Airdrop section inside the Hamster Kombat app, you need to select a suitable exchange (in our case Bybit), then enter the necessary data to send tokens to the exchange: 

- UID (User ID), found in your personal account on the exchange

- Deposit address and Memo. 

At the same time on the account of the exchange must be successfully passed identity verification (KYC).

Registration on the ByBit exchange

To withdraw $HMSTR tokens, you can use one of the leading cryptocurrency platforms - Bybit. In addition, this platform offers P2P withdrawals for Russian citizens. To register on the exchange, you need to create an account by specifying your e-mail address or phone number, which you then need to confirm. After that, you should set a password, log in to your profile and pass at least the first level of identity verification. To do this, you will need to provide a high-quality photo of one of your identity documents (for example, a driver's license or passport) and pass the authentication of the provided document by scanning your face with a smartphone camera.

Creating a wallet for ByBit Hamster

The Bybit platform in the WEB3 section offers its users the opportunity to create a wallet, securing their assets with a backup mnemonic phrase. To open a new wallet, you need to:

  • Go to the Wallet tab

  • Click on the Add Wallet button 

  • Select the Create Wallet option. 

This wallet also allows you to send and receive funds in supported blockchains.

Binding a wallet to ByBit

On the Bybit platform you can bind your wallet, to do this you need:

  • Go to the WEB3 tab 

  • Open the Wallet section

  • Click on the Add Wallet button.

  • Select the Import Wallet option

  • Choose one of the three import methods: using a seed phrase, private key or via cloud storage. 

After completing these steps, your wallet will be ready to use.

Transferring coins from Telegram to an exchange

To withdraw tokens from your Telegram wallet to an exchange, you must first get the exchange's deposit address. To do this, go to the platform, open the “Assets” tab, then select “Deposit Cryptocurrency” in the “Deposit” section. Enter the token ticker $HMSTR in the search box, and you'll get a deposit address and Memo to send the tokens to. 

Next, open your Telegram wallet and go to the “Send Funds” section. Select the $HMSTR token and specify the desired amount to send. Enter the exchange address and Memo received. Check that the data has been entered correctly and confirm the transaction. 

Your funds will be credited to the exchange account within a few minutes.

Hamster's value on ByBit 

At the time of writing (November 5, 2024), the token is trading in the price range of $0.00245-$0.0027. The $HMSTR token was listed a little over one month ago, during this time the token continues to fall in value without any significant corrections (more than 80% from the peak), regularly updating lots and still can not find its bottom.

  • ATH (all-time high) - $0.0135

  • ATL (all-time low) - $0.00225.

Token $HMSTR appeared on the market relatively recently, it is practically impossible to rely on historical trends of the coin and predict its value in the future, so it remains to assume that the potential value will depend on the interest of major market participants, possible excitement around the hamster or the team of game creators will come up with a utility for the token (practical application in the blockchain ecosystem).

Withdrawing funds from ByBit

There are many options for withdrawing funds from the Bybit exchange:

- Withdrawal to another cryptocurrency exchange

- Withdrawal to fiat currency

- Withdrawal to cryptocurrency wallets

- Withdrawing via P2P

More details about each of the withdrawal options can be found in the article published in our blog - How to withdraw money from Bybit to card? Detailed instructions on withdrawing from ByBit exchange

Conclusion

Hamster Kombat mini-app has many ways to withdraw your tokens, but the most convenient option is to withdraw directly to your Bybit exchange account. In this case, the tokens will go straight to your account, which will allow you to perform more transactions. In addition, this will avoid unnecessary transfers from your wallet to the exchange, as well as reduce the cost of blockchain fees.

Frequently Asked Questions

1. How can I withdraw Hamster Combat tokens to my Telegram wallet?

To withdraw $HMSTR tokens to a Telegram Wallet custodial wallet, you must first create the wallet and go through a basic identity verification process. Next, in the Hamster Combat app you need to go to the Airdrop section, select the option to withdraw to Telegram Wallet, click “Connect Wallet” to bind the wallet, and confirm the transaction to credit the tokens.

2. How to create a wallet in Telegram and activate the Ton Space function?

To create a wallet, you need to open Telegram Wallet, go to the settings and select the basic verification option by uploading a photo ID. You can also create a non-custodial Ton Space wallet in the settings: specify your email, save your seed phrase to get access to the new wallet and start using it.

3. What withdrawal methods does Bybit exchange offer?

Bybit provides several options for withdrawal: withdrawal to fiat, transfer to another crypto exchange, transfer to crypto wallets or use P2P. This gives users the opportunity to choose the most suitable withdrawal method depending on their requirements.