Exchange Ethereum via Sberbank to Rubles

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While the bulk of traders are focused on bitcoin, more and more investors are turning to its closest competitor. Efirium is the second largest cryptocurrency in the world in terms of market capitalization and general awareness. Although the altcoin is considered a good investment, it is often sold to avoid suffering financial losses in an emerging bear market. It is possible to exchange Ethereum via Sberbank on different platforms. However, it is important to explore each of them.

Ways to exchange ethereum via Sberbank card

The most common method to cash out Ethereum is to sell the coin using a crypto exchange. You need to find a service that supports bank cards or has a built-in P2P interface.

In 2022, many exchanges stopped serving Russian banks.

Other popular options are selling ETH in a P2P service and online exchange. Before making a choice, it is necessary to study the supported payment methods, what fees the platforms charge for conversion and how the security of accounts is ensured.

Online exchangers

On conversion sites, you can quickly sell cryptocurrency and receive money on the card or wallet of the payment system. Usually on such platforms you do not need to go through registration and verification – customers immediately proceed to the exchange.

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Choosing an exchanger

There are more than 500 platforms in the monitoring. In order not to encounter fraud and not to suffer financial losses, it is worthwhile to choose the service responsibly. The criteria are shown in the table.

Condition	Commentary
Duration of work	Use new platforms with caution. There are a lot of scams among them.
Customer feedback	It is important to study the opinion of users to find out whether you can trust the service with your money
The mode of processing applications	It is worth considering that manual exchangers can take a long time to conduct transactions. Automatic ones work much faster.
Trading fees	Commissions are set by the developers. Usually they are already included in the rate and make from 1% to 4%. You need to compare the price with the market price.

The algorithm for withdrawing Ethereum via Sberbank card is as follows:

Select the service.
Open the page of creating a request.
Specify the asset to be given and the direction (bank or EPS).
Enter personal data (full name, email address) and details.
Go to payment.
Send coins to the specified wallet.

If the exchange is in automatic mode, the system itself will process the payment. If in manual mode – the operator will check. Because of this, the transaction may be delayed.

When choosing a service, it is recommended to turn to the monitoring. There you can study the review and reviews of clients.

Cryptocurrency exchanges

Trading platforms are the safest way to exchange etherium to rubles through Sberbank. Crypto exchanges usually provide interfaces that are user-friendly for both beginners and experts. Before converting, the client needs to register an account and confirm his identity.

Choosing an exchange

There are many trading platforms in the market. To choose a reliable one, you need to consider the factors listed in the table.

Condition	Comment
Security	It is important to examine how the crypto exchange protects the privacy of personal data and provides storage for users’ assets. The platform should also support two-factor authentication, logging into an account by a code from an SMS or email.
Reputation	It is important to research reviews and find out if there have been previous incidents of hacking or theft of customer funds
Liquidity	It is important to make sure that there are a large number of users trading on the site. If the level is low, it will take time to find a buyer.
Commissions	Each exchange independently sets the size of the fees and the principles of their calculation. It is worth studying all available options and choose the most suitable one.
Limits on transactions	Some exchanges can put a limit on the purchase, sale and withdrawal of coins. To increase it, you will have to increase the level of verification by providing additional documents.

You can sell cryptocurrency on the ByBit exchange as follows:

Open the website or download the mobile app.
Register an account and pass verification.
Go to the account page and select “Assets”. Then click on “Asset Overview.”
Copy the address for funding the account.
Transfer coins from the wallet to the exchange.
Open the “Trading” page.
Enter the altcoin ticker symbol and select the ETH/RUB pair.
Specify the number of coins and click on “Sell”.
Hover over the “Buy Cryptocurrency” tab and click on “P2P Trading”.
Click on “Sell” and then click on “ETH.
Sort the offers and select a counterparty.
Follow the further instructions.

If there are any problems during the transaction process, you can contact the buyer using the chat window. It is also possible to file an appeal so that the customer support team joins in resolving the issue.

Exchange Ethereum via Sberbank to Rubles — P2P trading on ByBit

It is worth considering that there are a lot of fraudsters among counterparties. It is necessary to check payments in the online banking application.

In the search line for a payment method Sberbank data should be entered in English.

P2P services

This option is more risky than exchanges and exchangers, since users trade directly. P2P services have no intermediaries, so the platforms offer minimal commissions. You can also pay in cash on such platforms.

Most P2P exchanges use a rating system to track users’ trading statistics. They also use an escrow approach. This helps to protect conversion participants from fraud.

When parties connect to a transaction, the seller’s coins are blocked in the platform’s escrow account. Assets will be released only after the transaction is completed and approved by the counterparties.

Service selection

The table lists the criteria you need to pay attention to when choosing a P2P exchange.

Conditions	Commentary
Security	The exchange should have security features. These include multi-factor authentication and encrypted storage of customer funds.
Liquidity	Peer-to-peer services typically have lower liquidity than crypto exchanges. This means that it can be difficult to find a buyer that matches a trade order. In such a case, you will have to wait for an interested counterparty to appear. During this time, the price of the coin may change.
Currencies	Usually, P2P exchanges support a limited number of cryptocurrencies. Before using it, you should make sure that the right tokens are represented on it.
Support services	It is important that operators can resolve a conflict situation or help with other issues

ETH exchange through Sberbank goes according to the following scheme (using BitPapa as an example):

Register an account.
Switch to the “Sell” tab.
Customize the filter of offers and sort them by cryptocurrency, amount and payment method.
Select an ad and click on “Sell”.
Study the conditions, enter the number of coins and details.
Click on “Send request to buyer”.

After step 6, the coins will be transferred to the escrow account of the platform. When the payment is received on the specified details, you need to click on “Payment made”. The assets will be automatically sent to the buyer’s account.

Which way to exchange Ethereum via Sberbank to choose

You can withdraw coins into rubles using different methods. Before resorting to a trading platform, you need to pay attention to the reputation of the service, the commissions charged, the conversion rate, the available payment methods. It is also important to know whether there are delays in conducting transactions.

The choice of platform depends on the investor’s goals. For a quick sale, market participants use exchangers, for a profitable – P2P-platforms. However, the most popular way to cash out etherium and other cryptocurrencies remains exchanges. They offer a high level of security, a large list of coins and the ability to sell assets for any amount.

Frequently Asked Questions

❓ Why is it possible to sell assets more expensive on a P2P platform than on a crypto exchange?

Peer-to-peer platforms often offer a more favorable exchange rate. Plus, P2P services usually don’t charge trading commissions. This can increase your profits when converting assets to fiat money.

⚡ Which P2P venues can be used in 2022?

Investors can sell cryptocurrencies on Bitpapa, Bitzlato.

✔Do online exchanges verify incoming transactions?

Conversion platforms apply AML monitoring. If a transfer is flagged as suspicious, the application is canceled. To get the funds back, the customer must undergo verification.

💳Can I sell ether and get money to Sberbank via Binance P2P?

In March 2022, Binance removed Sberbank from the list of available payment methods.

📌Which safe wallet should I choose to store Ethereum?

Investors use hardware devices. Such cryptocurrency wallets are not connected to the Internet, so hackers cannot access them remotely.

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Author: Saifedean Ammous, an expert in cryptocurrency economics.