Crypto trading can be a fun and exciting prospect for newcomers, until you realize that many crypto exchanges don’t give you an option to turn your crypto into fiat money in a simple way. This adds complications: you can not translate your digital assets into real world value, since crypto isn’t globally mainstream yet.
How can you solve this issue to stick with lucrative crypto trading? By carefully picking the best crypto exchange for fiat withdrawals, of course!
In this article, we highlight one exchange in particular that simplifies fiat withdrawals: Millionero. The platform, a pretty new kid on the block, has already done wonders in terms of being a beginner-friendly exchange.
Let’s check out how they are managing simple crypto to fiat withdrawals to put the new people into the crypto space at ease!
How to Make Fiat Withdrawals from the Crypto You Own?
For exchanges that don’t offer you an option to make fiat withdrawals directly, you can go about it like this:
- Pick a third-party website or a broker that will exchange your crypto for fiat money.
- Create an account with this platform.
- Transfer your crypto funds from your exchange wallet to your new account with the third-party site.
- Now choose the ‘sell’ option after choosing which fiat currency you would like to get paid in.
- The funds will be sent to the bank account you have linked.
However, this process of going to another site to have your crypto withdrawn as fiat money has several disadvantages, namely:
- It’s a long, time-consuming process.
- You have to pay extra trading charges to get your crypto transferred from one platform to another.
- Finding an authentic third-party site to sell your crypto can be a difficult task.
This is why finding a crypto exchange that lets you withdraw your crypto as fiat while staying on the same platform is a dire necessity, especially for inexperienced newcomers into the crypto space.
So, now we can start exploring how platforms like Millionero can be the best crypto exchange for fiat withdrawals.
Is Millionero the Best Crypto Exchange for Fiat Withdrawals?
One of the best qualities a crypto exchange can have for all kinds of users- from new to experienced- is an easy way to allow the users to turn their crypto into fiat money. This is something Millionero excels at: they offer you as many as three different ways to turn your crypto into fiat money!
So, what are these options Millionero offers for fiat withdrawals? Let’s check them out!
- Bank Transfer Through Coinify: Millionero has partnered with Coinify to let you withdraw your funds in Bitcoin. What this means is that when you choose to withdraw through Coinify, you can be led to a window where you choose the amount of Bitcoin you would like to withdraw, and have an equivalent amount sent in fiat money to the bank account of your choice.
- Bank Transfer Through Banxa: Another partnership with Millionero that allows you to withdraw your funds in Bitcoin, with Banxa you will again find a window to select the amount of Bitcoin you would like to withdraw, and have that sent in EURO straight to the bank account you are requested to link.
- Bank Transfer Through Transak: Millionero’s partnership with Transak brings yet another advantage: this time you get to withdraw your funds not only in BTC, but also ETH or USDT! The process is the same again, you are led to a window where you put in the necessary details, and have your fiat funds sent to the bank account you choose!
With all three methods, the Millionero users don’t have to figure out for themselves how they can change their crypto into fiat money, or look for trusted third party websites to sell their crypto. Instead, you can just choose whichever of the options you find the most convenient and withdraw your crypto as fiat money!
You also get the option of Crypto Network: through this one, you can just withdraw your crypto directly to another wallet! So Millionero doesn’t only prove itself as the best crypto exchange for fiat withdrawals, it also gives you the choice to make withdrawals in crypto to offer you the utmost flexibility possible!
Other features of Millionero that would appeal to beginner traders include:
- A 55% fee sharing referral program, where you can invite your friends to trade with you on the platform, and earn a percentage of their trading fees. With five tiers of the program, you can even earn when referrals of your friends trade on the platform!
- The fun doesn’t end there! If you are someone who has received a referral code from someone to join Millionero, you can have a 10% discount on all crypto trades on the platform with no time limits!
- Millionero also introduces copy trading, so you can follow expert traders on the platform and copy their trades to earn from your crypto trades even as a novice!
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.