To receive cryptocurrencies on your Lama Business account, follow these simple steps:

1. On the homepage, click over the “Receive” icon located on the left panel.
2. Select the cryptocurrency you would like to receive.
3. Either present your unique wallet’s QR code for the sender to scan it or share your unique wallet address to the sender.

The minimum withdrawal amount for cryptocurrencies is displayed on the withdrawal screen at the time you type in the amount, nevertheless your reference here are some examples:

• Bitcoin – 0.00025 BTC
• Ethereum – 0.005 ETH
• Shiba Inu – 630,252 SHIB
• BNB – 0.03 BNB
• USD Coin – 15 USDC
• Tether – 15 USDT
• FLOW – 13 FLOW
• DAI – 15 DAI

You cannot withdraw less than these amounts.

To send cryptos from Lama app, follow these easy steps:

1. On the homepage, click over the “Send” icon located on the left panel in your home screen.
2. Select the cryptocurrency you would like to send.
3. Choose the recipient of this transaction whether it is a personal or a business wallet address. Please make sure the wallet address is entered for an external wallet and network is correct, otherwise the transaction will get lost, and we cannot retrieve it in any way.
4. Choose the amount you would like to send. Please note the minimum amounts required.
5. Confirm your transaction details.
6. Validate the request by entering the received code sent to the account’s registered email address.
7. All done! The transaction is now in progress.

The total amount available to send shown in the  Web-App, is your total balance minus the fees. Therefore, the maximum amount you can send is the amount shown in the  Web-App with the fees deducted from your total balance.

Please also keep in mind that your available balance needs to meet the required minimum withdraw amount:

• Bitcoin – 0.00025 BTC
• Ethereum – 0.005 ETH
• Shiba Inu – 630,252 SHIB
• BNB – 0.03 BNB
• USD Coin – 15 USDC
• Tether – 15 USDT
• FLOW – 13 FLOW
• DAI – 15 DAI

For a transaction to be completed as received on Lama, it might take between 15 minutes to 2 hours, depending on how saturated the cryptocurrency’s network is at the time your transaction is broadcasted to its blockchain. This is independent of Lama and we are not in a position to influence the speed of the process.

When sending cryptocurrency, a fee is taken from your transaction. This fee ensures that your transaction is confirmed and processed by the miners. This is called the blockchain fee. Lama automatically adds this fee to your transaction, so the amount sent is the same received. Lama automatically adds this to the total fees of your transaction.

The fees for crypto withdrawals to external wallets are variable and will mainly depend in your Lama account plan, applicable fees for your transaction will be displayed on your screen before you submit the transaction.

For your transaction to be completed, whether it’s sent or received, it might take between 15 minutes to 2 hours, depending on how saturated the cryptocurrency’s network is at the time your transaction is broadcasted to its blockchain. This is independent of Lama, and we are not in a position to influence the speed of the process.

You can easily locate your most recent transactions in the App, whether they are sent or received:

1. Open your Lama business Web-App.
2. Click over the r menu located in the upper right corner of the screen.
3. Locate the transaction you would like to confirm the status of.
4. There you’ll see a couple different status that your transaction might be under:

If sending:

Pending: The transaction is in a queue waiting to be broadcasted to the blockchain. Lama has debited your cryptocurrency wallet. Usually, this step takes in between 15 minutes and 2 hours. Until the transaction has been broadcasted to the blockchain, you can still cancel your transaction. You will be notified once the transaction has been broadcasted to the blockchain.

Sending: The transaction has been broadcasted to the blockchain. The money has now left your Lama crypto wallet and therefore the transaction cannot be cancelled anymore.

Sent: The blockchain has confirmed your cryptocurrency transaction. There are enough confirmations for your transaction to be considered as sent.

Completed: All necessary confirmations have been made successfully, so the transaction has been completed successfully.

Cancelled: You have cancelled the transaction. The money is back in your cryptocurrency wallet.

Failed: There is a problem on the blockchain and therefore the transaction could not be completed. Please contact support for more information.

If receiving:

Receiving: A transaction is coming to your Lama wallet and is identified on the blockchain. The blockchain has not confirmed the transaction yet, therefore the money is not available. It usually takes in between 5 minutes to 1 hour for Ethereum and Tether transactions to be confirmed on the ERC20 blockchain. It usually takes in between 10 minutes to 2 hours for Bitcoin transactions to be confirmed on the Bitcoin blockchain.

Received: The transaction has enough confirmations on the blockchain (6 for Bitcoin; 12 for ERC20); the money is credited into your Lama account. The transaction has enough confirmations on the blockchain (6 for Bitcoin, 12 for ERC20); the money is credited into your Lama account.

Failed: There is a problem on the blockchain and therefore the transaction could not be completed. Please contact support for more information.

When a cryptocurrency transaction is requested, it will be sent to its blockchain to be reviewed and verified so the transaction can be executed.

The confirmation of a transaction indicates that it has been included into a block and therefore added to the blockchain. This means that it has been officially recorded and verified and the payment can now be completed. Once it’s confirmed, the transaction cannot be reversed. For Bitcoin transactions, 6 blocks are requested and for ERC20 transactions, 12 blocks are requested for the transaction to be considered as approved and completed.