In 2014 and 2015, as the Chinese yuan was devalued, it surged to the top rank, beating both the Japanese yen and the U.S. dollar. The share of KRW in Bitcoin trading declined for a while after 2018 because the country’s regulators banned cryptocurrency traders in Korea from using anonymous bank accounts. The American dollar currently ranks first on the list of fiat currencies trading Bitcoins, with around 85.4% of the market share. The consistent top rank of the U.S. dollar in Bitcoin dealing is because of several factors.
In addition, you may turn your crypto back into fiat cash by using a fiat-to-crypto exchange. You may use the exchange platform to transfer your Bitcoin holdings into fiat currency and withdraw the funds back to your original payment source. Some fiat-to-crypto exchanges allow you to exchange your purchased crypto for other cryptocurrencies. Binance offers fiat withdrawal services where you can use the bank transfer option to withdraw fiat to your bank account.
Our recommended crypto to fiat exchanges:
Despite the higher fees, Coinbase is the most popular exchange for a reason. It has a very secure wallet, the user interface is sublime, and everything is easy to understand. Coinbase has also recently launched the Coinbase Bundle where users can buy a basket of five cryptocurrencies that Coinbase supports in proportion to their market cap.
- Key features that make MEXC stand out include its real-time chat, which allows for effortless communication between users, and a 24/7 help center, ensuring support is available at all times.
- In 2014 and 2015, as the Chinese yuan was devalued, it surged to the top rank, beating both the Japanese yen and the U.S. dollar.
- Fiat-related deposit and withdrawal fees vary mostly based on the method used.
- Furthermore, specific BTC pairs offer fee-free crypto trading, with other spot transactions having a fee of 0.1% regardless of the amount.
Factoring all this in, KuCoin surely has features that solidify its position as a reliable fiat-to-crypto exchange. This includes not only providing users with various fiat-to-crypto-related features but also offering different payment methods and supporting a https://www.tokenexus.com/top-5-bitcoin-cryptocurrency-exchanges-supporting-fiat/ variety of fiat currencies. Deposits can be made via bank transfers, by using a credit/debit card, or through Zen, depending on your preference. There are also multiple options in place for withdrawing funds, including bank transfers and crypto withdrawals.
KuCoin
It makes it straightforward for the beginner through the quoted amount option but also provides the features if the user wishes to do more advanced trading with their fiat currency. The option to purchase with a debit or credit card is an attractive feature which is not offered by many exchanges. It makes cryptocurrency accessible to people dealing in a variety of different local currencies.