Welcome to this post, where we are going to see how you can transfer your MEXC cryptocurrencies to real money in your bank account. Whether it’s profits, losses or just that you want to withdraw what you have to your bank account to use it.
Unfortunately, MEXC does not have a direct way to withdraw your cryptocurrencies to FIAT in your bank account. Although there are different ways, and here we are going to see one of them, which is the most economical and you will pay less fees to do it. Although for this, you will need a Binance account, which you can create just below to follow the steps.
From MEXC to Binance
The main idea is to send our cryptocurrencies in Binance, preferably USDT because they are easy and cheap to send from one exchange to another and their price does not fluctuate. With the USDT in Binance we will be able to exchange them for our currency, either euros, dollars, pounds or any available in Binance and finally withdraw it to our bank account by credit card or bank transfer. In the first case, we will have the money in seconds in our account, and with the bank transfer it will usually take a couple of business days to arrive.
Mention that you will need to pass the KYC and verify your binance account to be able to withdraw funds from this platform, as it happens in all exchanges due to money laundering regulations. So if you haven’t done it yet, I recommend you to do it to be able to withdraw your money or cryptocurrencies without problems whenever you want.
Once we have USDT in our balance, we will go to wallet and overview. Here, we will search for USDT and click on withdraw or withdraw. The TRC-20 network is already selected by default and we will leave it that way. If this is not your case, select the TRC-20 network, as it is the fastest and most economical way to move your funds.
In adress or address, we must copy the address that we will obtain from binance. To get it, go to wallet, spot wallet, and look for USDT here. Now, click on deposit, and select the trc-20 tron network. Then copy the address, and go back to MEXC to paste it. Check that the address you have pasted is the same as the binance address to avoid errors and problems. If so, indicate in amount the amount you want to withdraw, you will see below the commission which is 1$, and also the minimum which is currently 5 USDT. Check all the information and click on submit, confirm with the confirmation codes and that’s it. Above all, make sure you indicate the same trc-20 network in both cases.
The use and operation is the same if instead of binance you want to withdraw your cryptocurrencies to a wallet like metamask or any other Exchange. The only thing you should always take care of is to indicate the same network.
After a few minutes you should usually be able to see the USDT in your balance. If not, sometimes it may take a little longer due to the network or exchanges at specific times.
Once we have the USDT in the binance account, the next thing to do is to exchange them for your currency, in my case euros, but it works the same with any currency available in binance. We will go to markets, fiat markets and look for the euro/usdt pair or the one of your currency. Here, we will go to buy and exchange the usdt for euros or your currency. Indicate the amount you want to withdraw, and click on buy eur.
Go back to the main binance panel, and check your balance to see if you have euros or the currency you have exchanged. If so, just click on withdraw. Here, we will go to fiat and we will select our currency, and the way we want to withdraw the funds. Either by credit card with a 1% commission, but it arrives instantly, or by bank transfer with a 0.80€ commission. Indicate the amount you want to withdraw and click continue. If you have used the card, you will be able to see the balance directly in your bank account. With the other method, by bank transfer, it will take a few days. The fees may be a bit different depending on your country and currency, but binance always offers the best fees for withdrawing and depositing using different payment methods.
I hope you find it useful to be able to withdraw the cryptocurrencies you have in MEXC to real money in a simple way and without paying a lot of commissions. In case you don’t have an account with binance, you can create your account just below to withdraw your funds.