MEXC Users Must Transfer Crypto to Another Exchange for Fiat Withdrawals
MEXC users who want to withdraw money from their exchange accounts to bank accounts face a challenge due to MEXC's lack of direct fiat withdrawal support. However, there is a workaround: transferring crypto from MEXC to another more regulated exchange that supports cashing out to a bank account.
To do this, users must first choose a secondary exchange like Binance or OKX that allows fiat withdrawals. Then they need to create and verify their new account on the chosen exchange, following the Know Your Customer (KYC) verification process. This may take anywhere from a few hours to a day or two to complete.
Next, users must generate a deposit address on their new exchange for the specific cryptocurrency they plan to send from MEXC. They should select a network that is supported by both MEXC and the new exchange to avoid losing funds.
Once the user has generated the deposit address, they can initiate the crypto transfer from MEXC to the new exchange. This usually takes around 5-30 minutes, but may take longer if the network is busy.