Sunday, June 4, 2023

How to withdraw cryptocurrency to fiat money

CryptoHow to withdraw cryptocurrency to fiat money

The withdrawal of cryptocurrency from the exchange/wallet to fiat money (for example, 0.12 eth to usd) is available to everyone and does not require much time. It is done through the exchange sites themselves or exchange offices.

Available Options

First, let’s highlight the methods that allow you to withdraw virtual currency to fiat. To do this, you can use the following ways:

  • Crypto exchangers are special sites focused on converting cryptocurrencies in the direction of interest. They provide high transaction speed and earn an increase in the rate and commissions. Considered the best option for beginners. They allow you to withdraw all popular cryptocurrencies, namely Bitcoin, Ethereum, and other coins, to a bank card.
  • Crypto exchanges are platforms designed for the purchase/sale of cryptocurrencies and other transactions. The method’s advantages are a better exchange rate and lower conversion losses. 
  • P2P services are platforms that act as intermediaries for the withdrawal of cryptocurrency. They act as guarantors of the security of the transaction and take commissions for the operation.
  • Payment systems. Many sites are “sharpened” for operations with cryptocurrency. Their feature is the presence of a convenient and simple interface for withdrawing coins from a wallet or replenishing an account. There are many ways for a transaction to choose from. Of the minuses, it is worth highlighting a lower rate and the presence of a commission. Popular options are Payeer, AdvCash.

Above are the main ways to withdraw cryptocurrency money. Only the rate, the commission’s size, and the transaction’s degree of protection differ. 

How to withdraw cryptocurrency money from the exchange

When choosing an exchange platform, the user has two ways to withdraw:

  • Transfer cryptocurrency to another crypto wallet.
  • Withdraw coins to the card through payment systems or other available ways. When converting 63 eth to dollars, commissions for transactions are set.

Consider how to withdraw money on the example of the EXMO exchange platform. The algorithm is this:

  • Log in to
  • Go to the Wallet category.
  • Find the coin you are interested in the list and click “Withdraw” opposite it.
  • Review the terms of the transaction.
  • Enter the amount and indicate the address where you want to withdraw the cryptocurrency.

Suppose you need to cash out Bitcoins or other coins; first, exchange coins on the exchange in the “Exchange” section. Here, select the conversion from BTC, for example, to dollars. Afterward, go to the “Wallet” and transfer funds to a card or other method for further cashing out.

How to use exchange offices

When choosing exchangers, withdrawing cryptocurrencies is even easier. You can choose from a withdrawal in rubles, fiat, a bank card, payment services, etc. The general algorithm is as follows:

  • Choosing an exchange service with the best rate, for example, using an aggregator site.
  • Analysis of available options.
  • Clicking on a website link.
  • Indication of the direction of the exchange and the transaction.

Withdrawing cryptocurrency to fiat or a wallet takes 15-20 minutes. For this, exchanges, exchangers, P2P services, and payment systems are available. The task of the market participant is to choose the appropriate option, taking into account the exchange rate/commission and speed, and then convert or withdraw money.

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