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How to withdraw cryptocurrency: popular ways

29.03.2021
How to withdraw cryptocurrency: popular ways

Exchanging digital assets for traditional money is not that difficult. But we recommend a few of the safest ways.

Crypto-machines

Analogues of ATMs have not appeared everywhere yet, that's why they are in little demand. The main risk is fraudulent equipment. It is important to check the device you plan to use.

Each crypto-machine has its own digital address, to which funds are transferred for cashing out. Commissions at cryptomats are usually quite high — about 5%. 

Exchangers

These are services that allow you to sell cryptocurrency for traditional money, which can later be transferred to a bank card or PayPal wallet. The scheme of interaction is as follows:

— The site specifies the cryptocurrency and the amount;

— The exchanger shows how much money will be received in return, as well as the address to which the cryptocurrency should be sent;

— The user transfers the coins and clicks the button to make the payment;

— Once the funds are credited to the exchanger's address, the transaction is processed and the money arrives in the account.

Usually, the transaction time does not exceed 15 minutes. If it takes more time, then perhaps the cryptocurrency network is too busy, or some error has occurred. In this case, it is worth to contact the support of the exchanger.

There are commissions at such sites. Their value depends on the selected cryptocurrency, its stock at the exchanger, the method of withdrawal and other factors. On average, the commission ranges from 1% to 10%. Our aggregator https://13exchange.com/ru will help you find the most profitable transactions.

Exchanges

Withdrawal function appeared in many exchangers. It is often the safest way, since it reduces the risk of encountering an unscrupulous counterparty.

But the commissions at exchanges are very high. Such exchanges seldom work with classic currencies on their own, preferring to conclude partnership agreements. That is, the exchanger transfers funds to the service, with which the contract is concluded, and the latter already sends the money to the user. A serious disadvantage of this method is the double commission. 

However, it is not worth dividing the transaction amount into several smaller ones — this raises more questions from the bank monitoring service and law enforcement agencies.

OTC

One of the riskiest methods is considered a cash transaction. It is better to arrange a meeting and a deal with a person whom you trust. There is a high probability of losing capital: the wrong rate or robbery. 

P2P-platforms.

Such services act as a guarantor between users, but the transactions themselves are between two people. Prices here are quoted without the fee that the bank or system will take for the transfer. There are also fewer offers than at the exchangers or exchanges because the services are not yet as popular.

Telegram-bots

A non-standard method of exchange — the user entrusts the funds to a stranger, the money is stored in the wallet, tied to the account in the messenger. This option carries a lot of risks, but is considered one of the fastest.

Assess the risks before making a transaction and verify the information to keep your assets safe.

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