> ## Documentation Index
> Fetch the complete documentation index at: https://new-docs.squads.so/llms.txt
> Use this file to discover all available pages before exploring further.

# Sending and receiving from centralized exchanges

> Check exchange compatibility before sending or receiving tokens

Squads accounts are multisigs derived from Program Derived Addresses (PDAs), which some centralized exchanges do not support. Most major exchanges support transfers to and from Squads, but compatibility varies. Always test with a small amount first.

## Before you start

**Some exchanges do not support withdrawals to PDAs.** If an exchange rejects your sub-account address, withdraw to a personal wallet first, then transfer to your Squad.

## Exchange compatibility

| Exchange | Can accept transfers from Squads | Can send transfers to Squads |
| - | :-: | :-: |
| Coinbase | Yes | Yes |
| Binance | Yes | Yes |
| Kraken | Yes | Yes |
| Backpack | Yes | Yes |
| OKX | Yes | Yes |
| Swissborg | Yes | Yes |
| Bybit | Yes | No |
| Bitget | Yes | No |

## Send tokens to an exchange

1. Copy your deposit address from the exchange
2. In Squads, navigate to **Treasury** and select the source sub-account
3. Select **Send**, then **Send to a wallet**. Paste the exchange deposit address, and choose the token and amount
4. Select **Initiate** to submit the proposal for approval
5. Once approved and executed, monitor the exchange for confirmation

Some exchanges have longer processing times for PDA transfers. If the exchange does not show received tokens, verify the proposal executed on a Solana explorer and contact exchange support with the transaction signature.

## Receive tokens from an exchange

1. Copy your sub-account address from **Treasury** in Squads
2. Initiate a withdrawal from the exchange to your sub-account address
3. Confirm the withdrawal on the exchange


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