What is the difference between internal and external withdrawal?

What is the difference between internal and external withdrawal?

External withdrawal means transferring your funds from your wallet on SynchroBit™ to a wallet outside it (e.g. a Cold Wallet or another exchange). For doing any external withdrawal you need to provide the true receiver wallet address (and Memo ID for XRP, XLM, and EOS). The transaction will be done throughout the external Bockchain network and may take a bit longer to be confirmed.

 

In return, Internal withdrawal means transferring funds from one SynchroBit™ user account to another user account on SynchroBit™. Here the transaction is done on SynchroLedger™ and the internal Blockchain of SynchroBit™ (the SynchroNet™) which is one of the fastest Blockchain systems available with the capacity of handling 1,000,000 TX per second (which means every TX takes 40 billionth of a second to be confirmed)! The internal transactions, including withdrawals, is the safest way to transfer the funds and is much cheaper than the traditional one.