Two Ways to Withdraw Crypto in Europe
Many crypto users from Ukraine already know that the withdrawal of cryptocurrency to the cards of Ukrainian banks has been suspended since March 2023. Because of this, it has become more difficult to use digital assets. So how do you withdraw cryptocurrency?
Option one: P2P
P2P exchanges are platforms where users can exchange crypto without intermediaries. This is how to withdraw crypto to bank account. There are many P2P exchanges, so first of all, you need to choose the one that satisfies all your needs.
Next, create an account and complete verification on the chosen platform. This usually takes a few minutes. Then you can find offers from buyers who want to get cryptocurrency in exchange for a payment method that suits you. Including a bank transfer.
When you find an offer you like, you can open the deal. You will need to enter additional information and the amount you want to sell. For the safety of users, P2P platforms usually use an escrow system. This means that the system blocks the amount you sent until both parties fulfill the conditions. Once the buyer sends the money, the transaction will be confirmed, and the buyer will receive the cryptocurrency you sent. That’s how you can withdraw Bitcoin to bank account.
But be careful, there can be scammers on such platforms. Therefore, it is important to choose sellers and buyers who have many deals and high ratings.
Option two: crypto ATM
This is the easiest way how to withdraw crypto to fiat. Crypto ATMs can be found all over Europe: from Poland to Portugal, as well as in the USA, Great Britain, and other countries. They work in the same way as regular ATMs, but instead of a bank card, you use your crypto wallet. So here’s how to withdraw cash from crypto wallet:
- Find a crypto ATM near you.
- Choose the interface language.
- Verify your identity with your phone or e-mail if the ATM asks for it.
- Specify that you want to withdraw assets and select the required cryptocurrency.
- Enter the amount you want to withdraw. The exchange rate will be displayed on the screen.
- After that, you will see a QR code. Scan it with your crypto wallet and send your crypto.
- The transaction confirmation procedure may take several minutes. In the end, you will receive a message with a confirmation code that you must enter to withdraw cash.
- Take the cash and receipt.
Of course, some ATMs work differently. In addition, you need to pay attention to the fee: it usually ranges from 1 to 5%. After withdrawing money, you can deposit it to your bank card.
As you can see, it is still possible to withdraw crypto to Ukrainian bank cards. If none of these methods work for you, you can try paying for goods in cryptocurrency. Such acquiring services as Whitepay make this process very simple. Thanks to them, many businesses around the world accept cryptocurrency, and you can take advantage of this and save money on fees. And you don't have to look for ways to convert bitcoins into cash.
This is how to withdraw cryptocurrency in Europe. If you have been looking for a solution for a long time - try one of the proposed methods or use the services of Whitepay!