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How to Sell Crypto with Bank Transfer?

Bank Transfer represents a secure method of purchasing or selling crypto via wire transfer.

Phemex has partnered with Legend Trading, a fast, secure, and fully licensed Money Services Business (MSB). As a legally compliant vendor, Legend Trading enables Phemex users to safely sell Crypto to USD/GBP/CHF/EUR/JPY/CAD bank account.

Here is a step-by-step guide on how to sell Crypto with Bank Transfer:

  1. Register or make sure you are logged into your Phemex account.
  2. On the header menu, hover over ‘Buy Crypto’ and click ‘Bank Transfer’.

NOTE: *Completion of KYC is mandatory for purchases via Bank Transfer

For New Users:

1. In the I want to pay field, enter the amount of fiat you want to spend, then select the desired fiat currency from the drop-down menu.

2. The I will receive field will auto-populate based on the fiat amount and currencies selected. Click on the drop-down menu to find and select your desired cryptocurrency.

3. Click the Buy button when ready.

4. Finish KYC identity verification.

For Users who have completed Legend KYC or have purchased crypto before:

1. Select your desired cryptocurrency and “SELL” order type, enter the amount of Crypto you want to sell, then select the desired fiat currency from the drop-down menu.

2. The I will receive approx field will auto-populate based on the fiat amount and currencies selected.

3. Click the REVIEW ORDER button when ready.

Note:

  • To sell crypto, the user’s KYC identity verification must have been approved by Legend Trading.
  • On this page, you can view your fiat balance and also submit request for fiat withdrawal.

Confirm Order:

The next window will display a summary of your order and all the available collection methods with their respective prices. Two transaction methods exist: My Fiat Balance and Wire Transfer (Bank Account).

Note: when you want to sell to your bank account, you must link a bank account firstly.

Sell To Wire Transfer (Bank Account)

1. Choose Link new bank account, select your fiat currency.

2. Enter your bank account details, click “CONTINUE”.

3. Confirm bank account details, click “CONTINUE”, then add new bank account.

4. After linking your bank account, you can go to the trading dashboard page and choose to sell crypto to your bank account directly.

Note: Due to different fiat currency types, arrival time of funds may differ. For example, USD is 1-2 working days.

Sell To My Fiat Balance

1. Choose My Fiat Balance, Click “CONFIRM”, then you can view your assets in “My fiat balance”.

2. After the funds are transferred to your Fiat Balance, then you can click “WlTHDRAW” to withdraw funds to your bank account.


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