How to Withdraw Money from WhiteBit: Step by Step

Welcome to this post, where we are going to see how you can transfer your WhiteBit cryptocurrencies to real money in your bank account.

Currently, there is no direct way to withdraw your money to your bank account from WhiteBit, however there are ways with a few more steps. And this is what we are going to see now, using another Exchange to withdraw your cryptocurrencies to real money with Binance.

From WhiteBit to Binance

For my personal taste I use USDT because it is an easy and cheap cryptocurrency to send from one platform to another and its price does not move. Once our USDT arrive at Binance we will be able to exchange them for our currency, whether euros, dollars or any currency 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 take a couple of business days to arrive.

Although before, it is important to know that you will need to pass the KYC and verify your Binance account to be able to make withdrawals from this platform, as it happens in all the big platforms. So if you haven’t done it yet, I recommend you do it to be able to withdraw your money or cryptocurrencies at any time you want.

Once you already have USDT in your WhiteBit balance, let’s go to balance and total. Here we will click on withdrawal. Inside withdrawal, in label will appear BTC serial, and we will have to change it and indicate USDT. Remove the abbreviation BTC and indicate the abbreviation USDT.

Now, the next thing we will look at are the different networks below, along with the daily and monthly withdrawal limits. Here, we will indicate the TRC20 network, which is currently the most economical and fastest to use.

In adress, we will copy the address we will get from binance. To get it, go to wallet, spot wallet, and search here for USDT. Now, click on deposit and select the tron trc-20 network.

Then copy the address, and go back to WhiteBit to paste it. Always verify that the address you have pasted is the same as the binance address to avoid any problem. If so, indicate in the total below the amount you wish to withdraw, you will see below the commission which is 1$, and also the minimum withdrawal amount which is currently 10 USDT. Verify and review all the information and click on withdrawal request, confirm with the email confirmation codes and the withdrawal will be done. It is important to indicate the TRC20 (Tron) network.

After a few minutes have normally passed, you should be able to see the USDT in your balance. If not, don’t worry. Sometimes it may take longer for the Binance deposit to become effective.

Once you have the USDT in your Binance account, the next step is to exchange them for your currency, in my case euros, but the operation is the same with any currency available in Binance. So we will go to markets, fiat markets and look for the euro/usdt pair or instead of eur of your currency, like for example gbp/usdt. Here, we will go to buy and we will 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 or withdraw. Here, we will go to fiat and 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.

Although the fees may vary depending on your country, we have seen how binance always offers the most competitive fees or very good fees compared to other platforms to withdraw your money.

I hope it has helped you to finally convert your cryptocurrencies to real money from WhiteBit. In case you don’t have an account with binance, you can create your account just below to withdraw your funds.