by Assessing the cryptocurrency exchange rate in real time, a trader makes a decision to carry out transactions and, as a result, to withdraw the income received. Earlier, such a procedure involved a minimum of actions. It was enough to specify a bank card for crediting funds from a cryptocurrency exchange. Popular trading platforms, such as WhiteBIT, cooperate with Ukrainian banks, which made it possible to withdraw money in the desired currency with minimal fees and instant crediting.
From March 2023, the National Bank of Ukraine introduced a restriction on the direct withdrawal of fiat to a card from cryptocurrency exchanges. This temporary restriction, which is still in effect, is related to combating illegal gambling businesses and money laundering directly through digital assets.
It is important to understand that the presented procedure made changes, but did not prohibit the withdrawal of cryptocurrency in Ukraine. You can still carry out operations as before, but to credit funds, you will need to use other methods available to all users today. Note that the most liquid cryptocurrency exchanges simplify this process by offering their own platforms and applications for withdrawing funds without the need to register on third-party resources.
The most effective and popular option is to work with P2P platforms. An optimal way is to choose a platform that operates directly on the exchange where you buy cryptocurrency and conduct transactions. By its nature, P2P is a marketplace where there are sellers and buyers. They offer and select offers for cooperation on the most favorable terms. In this form of purchase and sale of crypto assets, the commission may be completely absent. But there is always a commission fee imposed by the banking system for transfers. Here you can choose conditions for the exchange rate with a minimum deviation from the classic indicator in the cryptocurrency market.
To understand how to cash out cryptocurrency in Ukraine, it is recommended to choose P2P platforms that represent liquid exchanges. The algorithm of working with such services provides the following:
– Go to the P2P trading section and select the currency you want to withdraw. After that, you will have access to a list of purchase offers.
– Consider the proposals and choose a suitable order, evaluating its next parameters: conversion rate, maximum amount that another user is willing to spend from the first transaction, withdrawal options, for example, transfer to a bank card.
– If the option of how to sell Bitcoin or another coin suits you, you can sell the digital asset by specifying its amount for exchange, and the card number for crediting the money.
Working with verified platforms additionally protects you from unauthorized transactions and fraud. The presented method of how to cash out cryptocurrency in Ukraine involves transferring and crediting funds after all agreed conditions are met from both sides.
Another option for withdrawing funds directly to a card is to work with exchangers. These can be both mobile applications and full-fledged separate resources. This method, as withdrawing Bitcoin with crediting fiat to a card, has several features:
– Inflated commission, which is often taken into account in the rate, so it cannot be market.
– High risk, as third-party resources do not insure the transactions performed, so it is necessary to approach responsibly the choice of potential partners.
Note that the speed of crediting the amount to the card depends on the speed of the exchanger’s work. This can take from a few seconds to a day. Often, cryptocurrency exchangers have quite limited functionality, aimed at performing the main target task. But at the same time, you can also find platforms with informational support, where you can learn how to mine Bitcoin, current analytics, and reviews on popular crypto projects.
