The need to withdraw Bitcoin into rubles periodically arises for every trader or investor. Payment for goods and services with cryptocurrency in the Russian Federation is prohibited at the legislative level, so you cannot do without fiat currencies yet. And since demand creates supply, today there are many ways to carry out this operation. The Btcnewsweb.com editors reviewed the main methods – those that have proven to be the most convenient and reliable.
1. Withdrawal of BTC to rubles through crypto-exchanges
Cryptocurrency exchanges were created mainly in order to make money on trading, that is, their functionality is aimed primarily at fast and fruitful trading. But the development of exchanges does not stand still, and for the convenience of users from different countries, platforms are gradually introducing new features and improvements. So, on many top cryptocurrency exchanges, you can withdraw the earned funds directly to fiat, which makes life easier for users – they do not need to make unnecessary transactions.
How to withdraw Bitcoin to rubles through the cryptocurrency exchange:
- Create and verify an account. Verification is almost always required if you are going to work with fiat, it is required by regulators. The verification process of your data may take a day or more, in case of refusal, you will be shown errors that should be corrected.
- Top up your account in bitcoins. In the “Deposit” section, you will find the address to which you need to transfer the desired amount. The arrival time varies based on the transaction queue on the network.
- With the built-in functionality of the exchange, exchange BTC for RUB. The result of the exchange will immediately go to the exchange account.
- In the withdrawal section, indicate the desired withdrawal method (for example, Visa card, Payeer, AdvCash). Fill in additional information that will be requested by the platform.
2. How to withdraw bitcoins through a payment system
An electronic payment system is a multifunctional tool for managing fiat and digital assets, with the help of which, among other things, you can exchange Bitcoin for rubles. This is a fairly convenient, safe and popular method among users. Even the PayPal payment system has introduced the ability to buy / sell BTC, however, only for Americans and only for dollars. However, for Russia, there are also several EPS options that provide such functionality.
Instructions for selling bitcoin for rubles via EPS:
- Find out if the system requires identity verification to conduct financial transactions. If required, then pass the appropriate check.
- Deposit BTC to the account using the deposit address (you can use the QR code and pay from a mobile wallet, most often this opportunity is provided).
- Exchange Bitcoin for RUB through an exchanger or exchange that are included in the functionality of the service. Sometimes it will be necessary to make an additional intermediate operation if this exchange pair is not directly supported.
- Withdraw rubles to the card by providing the necessary details.
3. Withdrawing bitcoin to rubles through exchangers
Cryptocurrency exchangers are a very common option for buying or selling digital currencies for various fiat money. It is not difficult to find an exchanger that supports the direction you need using BestChange or another reliable aggregator. At the same time, the range of withdrawal options is quite large – you can get money for most cards and wallets used in the Russian Fedration.
How to work with the exchanger:
- Select the payment direction that you need.
- Enter the amount to automatically calculate the rate, taking into account the commission of the service itself.
- Enter the required card / wallet details.
- Pay for the application from your bitcoin wallet by transferring the required amount to the address provided by the service. Confirm payment.
- Wait until the application is processed and the rubles are transferred to your account.
4. p2p platforms that allow you to withdraw BTC to RUB
p2p-exchanges are the choice of those who want to trade freely and anonymously, independently choosing suitable conditions. On such platforms, users create ads, specifying the payment methods that are convenient for them to accept. Other users find suitable options and communicate with the seller / buyer directly to complete the payment. The methods of operation of such exchanges are based on the principles of escrow accounts, which ensure the safety of funds of both parties.
Guidelines for exchanging through p2p exchanges:
- Set up filters to search for matching ads. With their help, you can quickly discard those offers that are definitely not suitable.
- Go to the page of the transaction you are interested in, study the information and leave a request if everything suits you.
- Communicate with the buyer, issue your payment details.
- Wait for payment and confirm it. Then your bitcoins will go to the counterparty.
This method will help you if you want to withdraw Bitcoin in cash, and not to a card or wallet. Use the map https://coinatmradar.com/ to see if there are any such devices near you. There are only a few cryptomats in Russia, and the authorities periodically seize them, motivating these actions by “checking for illegal financial transactions.”
Instructions on how to withdraw bitcoins through a cryptomat in rubles:
- Select “Sell” on the ATM screen.
- Scan the QR code that appears with a mobile wallet and transfer the amount that you want to cash out to the desired address.
- Take a receipt with transaction information and QR code.
- When the transaction is confirmed in the blockchain, you will be able to receive cash on this check.
Exchange security issues
In connection with the contradictory legislation of the Russian Federation, limiting the number of transactions with cryptocurrencies, the question arises: is it safe to withdraw Bitcoin into rubles in 2022? From the point of view of the law, this is not prohibited. The new rules, which took effect in January, mainly concern companies. So, organizations are not allowed to accept payments in cryptocurrency, as well as advertise this type of payment.
As for ordinary users, little has changed for them. It is still necessary to pay a tax of 13% on profits, even if it is received from cryptocurrency trading. The legalization of such income does not have any significant features and involves filing a tax return with the Federal Tax Service.
It should also be mentioned that banks often block accounts that receive suspicious transactions. There is no exact algorithm of actions on how to avoid blocking, but you can give a few tips:
- Take screenshots of exchanges and wallets to confirm receipt of funds, if necessary.
- Use only Russian ruble cards, which, moreover, belong to you personally.
- Pay taxes. The danger of blocking still remains, but the account is then unblocked much faster.
- Do not be afraid to make the situation public. There have already been cases when, after an indignant post on a blog or social networks, banks quickly removed the block from the account.
You can completely refuse to use banks, for example, withdraw funds through exchanges to electronic payment systems or in cash.
There is nothing difficult in withdrawing Bitcoin into rubles, the main thing is to know which services to contact for this. The fact is that each method differs from the others in speed and cost. Commission fees can often significantly reduce the amount received. Therefore, if you do not want to lose too much, then carefully study the conditions of all exchanges and exchangers before starting to work with them.