There is a way to transfer Hive (and other crypto) into your fiat bank account for almost no cost at all.. Hard to beat! This really should be a major selling point for Hive, but it seems that almost no-one knows about it.. Let's change that.
Image by John Hain from Pixabay
Ever since beginning to use Steem/Hive back in 2016, the biggest stumbling block for me was always the off-ramp into fiat. We all have bills to pay and sometimes it is necessary to cash out from the world of crypto, despite the potential of the technology to grow and increase in value.
A long time ago I pointed out that Uphold was the best deal I could find to convert crypto into Fiat currencies, but now there is a new champion!
Or more precisely, there are two joint champions: MEXC and Revolut.
Note: If you decide to join up, please use these two links as they contain referrals for me - if you like :)
MEXC currently allows you to deposit Hive for free and convert it into USDT for free.
You can then withdraw the USDT for free.
You will need a bank account with Revolut - so they may or may not be available in your region, however, they do operate in over 35 countries, including the UK, the US, Australia, Canada, Singapore, Switzerland, Japan and the EEA.
Once you have an account with Revolut, you can send USDT (and other stablecoins) to their built-in crypto wallet and they will then convert the stablecoin into your fiat currency for free! The only cost (if using USDT) is the flat rate transfer fee of $4 per transaction.
So you can now convert Hive to Fiat in 2 steps, costing a total of $4, regardless of how much you send!
Revolut also allows you to spend crypto via your debit card!
Very hard to beat that - but let me know if you can! 😁
Wishing you well,
Ura Soul
Read My User Guide for Hive Here
Powerful insights into the Hive blockchain are available at my website, Hive Alive.
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cool, I've had revolut for years but never knew this was a feature. Thx Bro.
You are welcome - they seem to have finally ironed out some of their creases!
If one already has a MexC account which has been doxxed (by depositing or withrawing from/to bank account or by KYCing) then it's a good idea to ooen a new account with a different (anonymous) email address.
Reblogged & promoted (on ecency) for 7 days.
Thanks for sharing.
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Comment updated fyi
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That's good to know, thank you! I'm going to have to check how it works here in my "prohibition filled" corner of the States. It's not that they are against crypto here, but the cannabis industry was bypassing state tariffs/taxes by using crypto, so the state government made anything crypto a paperwork nightmare...
=^..^=
I love MEXC.
Or you can withdraw to Nexo account. If you are not American or Canadian.
Thanks! I'll need to create an account on MEXC. I already have a Revolut card (unfortunately the physical one expired already so I'll have to see if/how to get a new one).
I lost mine at the end of Hivefest in Mexico (left it in a cash machine.. lol) - you can easily order a replacement from inside the app.
So far I preferred my crypto.com card as a fiat connection, but it doesn't hurt to have a backup.
Excelent.
Such a valuable piece of information! This is such a huge selling point for Hive's ecosystem. Thank you so much for sharing.
bookmarked this, thank you good ser
This is very good to know. I have another system, but that is useful :)
Thanks!
Ur welcome!
Thanks!
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The more options the better!
Thank you for this information