MEXC is a really popular exchange, mainly because it lists so many new and low-cap altcoins, but the thing is, they don’t generally offer a direct withdrawal of crypto to fiat currency. So, what you basically need is a little workaround, a kind of middle step. The whole process involves transferring your crypto from MEXC to a second, more regulated exchange that actually supports cashing out to a bank account.
This guide will cover how to withdraw money from MEXC to bank account. You’ll learn the step-by-step process of using a secondary crypto-to-fiat platform to complete the transaction.
How to Withdraw Money from MEXC to Bank Account: Step-by-Step Guide
To withdraw money from MEXC to your bank, you usually need to go through another exchange because MEXC doesn’t support direct fiat withdrawals to your bank in most cases. Generally, you will move your crypto from MEXC to an exchange that can send cash to your bank (like Binance or OKX).
Step 1: Choose a Crypto Exchange That Supports Fiat Withdrawals
First, you need to pick a cryptocurrency exchange that lets you withdraw fiat (government-issued money) directly to your bank. As discussed above, MEXC doesn’t let most users withdraw cash to a bank, so you need an exchange that does. Now, the best examples are Binance, Coinbase, or OKX. These are really popular platforms for cashing out because they support bank transfers in multiple currencies and regions.
Basically, you have to choose an exchange that’s available in your country and supports your currency (or a major one like USD or EUR). Also, you need to make sure it has a solid reputation and strong security.
Now, for instance, Binance offers bank transfer withdrawals for many currencies with relatively very low fees, and OKX also allows bank withdrawals once you complete verification. Plus, try to pay close attention to withdrawal fees and processing times on the platform you choose. Again, some of the crypto exchanges might support only SEPA transfers in Europe, while others focus on ACH in the US. Hence, taking a few minutes to check their fees and supported methods can save you a pretty good bit of money later on.
Step 2: Create and Verify Your Account
You need to create a new account on your chosen fiat-friendly exchange and then also complete the full Know Your Customer (KYC) verification process. Well, this KYC part is actually super important because it’s the main way exchanges follow anti-money laundering regulations and basically prove you are who you say you are.
This usually involves giving them a government-issued ID, a proof of address document, and maybe even doing a quick face verification, or you can say “liveness” check with your phone camera. Generally, you can’t withdraw fiat currency to a bank account without completing this full verification, and sometimes, it can take anywhere from a few hours to a day or two to get fully approved.
Also, you need to make sure your name on the exchange account exactly matches the name on your bank account; otherwise, the final withdrawal will fail, and obviously, you don’t want that kind of hassle. Now, about the navigation part, on Binance, you need to go to the “Personal Verification” section and provide all KYC details.
Step 3: Generate a Deposit Address on Your New Exchange
You need to generate a deposit address on the new exchange for the specific cryptocurrency you plan to send from MEXC. You can say, this is basically like getting the routing and account number for your cryptocurrency.
Also, the most common and cheapest crypto to move between exchanges is usually a stablecoin like USDT (Tether) or USDC on networks like BNB chain, Tron, or Solana. But obviously, you can choose a network as you like. You could also use Bitcoin, Ethereum, or another coin, but using a stablecoin can make the cash-out process simpler.
- You need to look at your new exchange’s platform and find the “Deposit” section.
- Search for the stablecoin, let’s say USDT.
- Then, you must select the network or blockchain, and this part is critical. You absolutely have to choose a network that is supported by both MEXC and the new exchange. For example, using the TRC-20 network (Tron) for USDT is really popular because the transaction fees are usually super low, often less than $1 USD, and it’s fast.
Note: You need to make sure the network you choose here matches the network you will select on MEXC when withdrawing; otherwise, your funds could be lost.
Step 4: Withdraw Crypto from MEXC to the New Exchange
You can now initiate the crypto transfer from your MEXC wallet to the deposit address you just got from the new exchange. Here’s how you can do that…
- You need to log in to your MEXC account. You will want to make sure your crypto is in your Spot Account if it isn’t already.
- Go to the “Wallet” section, and then you have to click “Withdraw”.
- Select the same cryptocurrency (e.g., USDT) that you chose in Step 3.
- Paste the exact deposit wallet address from your new exchange, and also double-check it.
- Now, you have to select the exact network (e.g., TRC-20) you chose in Step 3. This is the second time you must be absolutely careful.
- Enter the amount you want to withdraw, and we say, always send a small test amount first, like $10 or $20 worth, to make sure everything works right before sending a larger amount.
- Finally, you can complete the security verification (2FA, email code, etc.) and hit “Submit”.
Actually, the processing time from MEXC is often pretty fast, usually within 5 to 30 minutes, but it can take a bit longer if the network is really busy.
You can easily monitor the status in your MEXC account, and once MEXC marks the withdrawal as “Completed”, and the blockchain confirms it, you will eventually see the crypto in your new exchange account. Also, if you are a new user on MEXC, we suggest using our MEXC referral code during registration to get a free welcome bonus and trading fee discount.
Step 5: Sell Crypto for Fiat on the New Exchange
Alright, so the crypto has finally landed in your account on that new exchange. Now, it’s time to convert it into fiat currency. You should head over to the “Trade” or maybe the “Sell” part of your chosen platform. You know, almost all exchanges make this step pretty straightforward for you.
Let’s say, for example, you moved over some USDT. You can usually just quickly swap it for USD by using their “Convert” tool or finding the USDT/USD trading pair. But, if you actually brought over something else, like Bitcoin, you’d just sell it on a BTC/fiat pair (like BTC/USD), to get your cash.
Next, you should go ahead and type in the amount you want to sell and then confirm the trade. Once that trade goes through, you will see the fiat balance appear right there in your exchange wallet.
Now, here’s a small but important check: you should make absolutely sure the fiat currency you now have matches the currency of your bank account. If they don’t match, you might have to convert it one more time within the exchange before you try to withdraw it.
Step 6: Withdraw Fiat to Your Bank Account
Finally, you can withdraw the fiat currency from the exchange to your personal bank account. Well, this is the last step, and you’re almost done.
- You need to visit your “Withdrawal” section on your new exchange, which you have chosen.
- Select the Fiat tab and choose your currency (e.g., USD).
- Select your linked bank account. Well, if you haven’t linked one yet, you’ll need to add your bank account details now, including your bank name, routing number, and account number.
- You have to enter the amount you want to cash out.
- Next, you need to review any withdrawal fees and the estimated processing time. Honestly, bank withdrawal fees are generally low, sometimes even free, but the processing time can take from 1 to 5 business days, depending on your bank and the withdrawal method (like ACH, Wire Transfer, SEPA, etc.). For instance, ACH transfers in the US are often free but take 3-5 days, while a Wire Transfer is faster (maybe 1 day) but can eventually cost you a flat fee of $20 to $35.
- You can now confirm the withdrawal, and you’re good to go.
Best Exchanges to Withdraw Money from MEXC (2025)
Since MEXC isn’t the best for direct cash withdrawals, the best exchanges for this purpose are Binance, Coinbase, and OKX. Binance and OKX are best for global users, whereas Coinbase is highly recommended for U.S users.
Coinbase supports all popular withdrawal methods, including instant cashouts to linked bank accounts or debit cards (with a fee), traditional ACH bank transfers (free, takes 3-5 business days for US customers), SEPA transfers for EUR withdrawals, Faster Payments for GBP withdrawals in the UK, and SWIFT international wires for USD. Let’s discuss how Binance and OKX work for fiat withdrawals…
1. Binance
- Supported Cryptocurrencies: 500+
- Supported Fiat Currencies: USD, EUR, GBP, AUD, CAD, and many more.
- Trading Fees: 0.1% maker/taker
- Withdrawal Fees: Fees vary quite a bit, but are often relatively low or zero (SEPA transfer for Euros might have a small fee of €1)
- Bank Transfer Availability: Yes
- Withdrawal Time: Usually 1 to 4 business days for bank transfers
Binance is the largest crypto exchange and an excellent choice for cashing out crypto to your bank. It supports withdrawals to bank accounts in many currencies (USD, EUR, etc.) with low fees in most cases, and even after selling your crypto on Binance, you can easily withdraw to your bank by entering your account details.
Also, Binance generally displays any fees and expected times upfront, and verified users actually get very high withdrawal limits. Hence, we would say, Binance’s efficient and secure system makes it a top pick for converting crypto to cash for any user. Now, if you are a U.S. user, the Binance Global platform will not work for you, so you can either use Binance.US or Coinbase. If you are new to Binance, use our Binance referral code to sign up and get welcome rewards.
2. OKX
- Supported Cryptocurrencies: 350+
- Supported Fiat Currencies: EUR, GBP, VND, TRY, and more, depending on the region
- Trading Fees: 0.1% maker/taker
- Withdrawal Fees: Fees vary quite a bit, but are often relatively low or zero, up to 2% per transaction.
- Bank Transfer Availability: Yes
- Withdrawal Time: Often within 1 to 3 business days
OKX is another top fiat-to-crypto exchange that has really grown a lot and today has become a serious competitor to Binance, and they are especially strong in Asia and parts of Europe. It supports multiple fiat currencies (USD, EUR, GBP, etc.) and offers bank transfer withdrawals similar to Binance.
OKX is known for its strong Web3 integration, but their fiat off-ramp service is also really solid and supports bank transfers in many regions. They generally offer a very clean and easy-to-use interface, which makes the whole “sell crypto for cash” step super quick, even for people who are just starting out. Also, check out our OKX referral code for sign-up bonuses as a new user.
Frequently Asked Questions
Is MEXC Legit?
Yes, MEXC is generally considered a legit and operational cryptocurrency exchange in 2025. It is really a high-volume platform and is mainly known for offering a huge variety of smaller altcoins and new projects before other major exchanges list them.
Now, while they have a large global presence, you need to understand that they often operate with less formal regulatory oversight compared to heavily-regulated exchanges like Coinbase. This lack of full regulation is actually the main reason why they often can’t offer those direct bank withdrawals in many countries. So, while you can totally trust them with your crypto for trading, you just can’t rely on them for cashing out to your bank directly. You can read our full MEXC review for more info about the exchange.
Why Is MEXC Not Allowing Me to Withdraw Money?
If MEXC is not letting you withdraw money, it is likely due to a security measure or a compliance rule, and it’s usually not a big problem. Actually, there are mainly four common reasons why you might see a withdrawal limit or a temporary hold.
- New Security Period: Well, if you just changed your password, phone number, or 2FA settings, MEXC will often impose a 24-hour withdrawal cool-down period as a security measure. Also, this is actually a pretty common and standard industry practice, and you just need to wait it out.
- Unverified Account (KYC): Yes, MEXC lets you trade and withdraw a certain amount of crypto without full KYC, but if you hit a limit, you might need to complete the verification to continue. Generally, a common limit for unverified accounts is about 10 BTC worth of withdrawals per day.
- Specific Coin/Network Issues: Sometimes, a specific coin’s network might be down for maintenance, or the withdrawal address you entered could be on a network that MEXC has temporarily paused for a security review.
- Security Hold: For safety, MEXC may temporarily hold or review withdrawals that seem unusual. Well, this is MEXC’s “risk review” system, and to be honest, it gets a lot of criticism nowadays.
How Long Does a Withdrawal from MEXC Take?
A withdrawal from MEXC to another exchange is generally pretty fast, with the transaction usually completing in under one hour. To be exact, a fast blockchain network might deliver your funds in around 10 minutes, while a slower or busier network could take 30 minutes or more.
Can I Withdraw From MEXC Without KYC?
Yes, you can withdraw cryptocurrency from MEXC without completing KYC, up to a fairly high limit. MEXC allows unverified users to withdraw around 10 BTC worth of crypto per day. But if you want to withdraw fiat currency through third-party services, you need to complete KYC.
