How To Convert USDC to USD and Withdraw Monies

[platinumglobal]

Hi All,

I just thought of posting here as i setup and account with Coinbase so that i could transfer my USDC from an external wallet to them and then sell that for USD and then
send that to my bank account. Coinbase have a message saying that my account is not verified but i have uploaded all my identification to them to have my account approved.

In short given all the problems with FTX and there being quite a lot of scammers in Crypto. Does anyone know the best company i can transfer my USDC to and then withdraw
the monies to my bank account.

I looked up Binance but they have loads of bad reviews with people saying they can access their monies for withdrawal.

I am based in Malaysia at present but am originally from the UK.

Any suggestions of a good honest broker to transfer my USDC to and access my cash is much appreciated.

 

[aseev]

You have to wait until they verify your IDs. It is usually quick but may take up to 2 business days in certain circumstances. For instance, it's the long weekend in the US now and you may need to wait until Tuesday.

You also most likely won't be able to immediately cash out your local currency using a linked bank account and will have to wait for about ten days, I think. They hold funds for security reasons, so they are not immediately available. But Coinbase is one of the most regulated and transparent companies, so If you're looking that is not scammy - it's a good choice. They have the UDS/USDC pair on both Ethereum and Polygon networks.

[CageMabok]

Hi All,

I am based in Malaysia at present but am originally from the UK.

Any suggestions of a good honest broker to transfer my USDC to and access my cash is much appreciated.

Hi

You only need very simple advice for this as you just have to turn your mind to another option by using the USDC to buy Bitcoins and then converting the Bitcoins to USD so you can withdraw them to any bank account you want. If you use the Coinbase exchange, you will definitely see the BTC-USD pair there and you can use that to cash out your assets to USD or to the account you want.



Apart from that, you can also use other exchanges such as Bitstamp, but in my opinion the Coinbase exchange is enough to make such simple transactions which are not even complicated at all. So there's no need to panic and feel upset about that because you can search more about the exchange and also the currency pairs you have on coinmarketcap

[digaran]

Hi there, unfortunately we don't answer on shitcoin related questions, because this is bitcoin discussion board, we don't take lightly the centralized scam tokens called USwhatever, in these woods we do hardcore bitcoin. A friendly advice, don't do trades when you don't know the basics of exchanging crypto.

[GreatArkansas]

Have you tried P2P transactions? Some exchanges already got that now just as Binance, ByBit, or Kucoin.
I already tried before to do transactions on Binance P2P and Wise. Tip could be use Binance or ByBit with your USDC, since Binance don't cater USDC now, convert it to USDT if you want to use Binance else you can use ByBit.

[Apocollapse]

If you're don't mind about KYC, I suggest you to use Kucoin because they're allow UK and Malaysia regions, so you wouldn't have any problem.

If you're not in hurry, you can use decentralized exchange e.g. Bisq or No KYC P2P/swap platforms, you will not asked to provide KYC and no need to face any non sense verifications.

Hi there, unfortunately we don't answer on shitcoin related questions, because this is bitcoin discussion board, we don't take lightly the centralized scam tokens called USwhatever, in these woods we do hardcore bitcoin. A friendly advice, don't do trades when you don't know the basics of exchanging crypto.

I don't see any sentence where the @OP is promoting a coin, he just create a post in wrong board and I don't think criticism an innocent person is correct.

[blockman]

Binance is actually good but where you are right now, the exchange that you'll use to withdraw USDC and convert it into USD and have it deposited into your bank account really depends. Check Coinbase if the documents you have submitted were already approved because it's most likely that they're not. P2P is a common way where you can have it easily deposited but you might take time in finding one that's also available in that country. You have to spend time in researching what's the best market there in Malaysia.

[cryptoaddictchie]

I looked up Binance but they have loads of bad reviews with people saying they can access their monies for withdrawal.

Im not sure if via transfer to USD cause Ive never tried that one and only using p2p transactions and directly to my own account in bank. Why not tried that, and instead of usd use your own malaysian bank or remittance supported. Usually if you did your kyc it will be a smooth deal always on p2p as long as you pick those legit buyers and sellers.

[zasad@]

Hi All,

I just thought of posting here as i setup and account with Coinbase so that i could transfer my USDC from an external wallet to them and then sell that for USD and then
send that to my bank account. Coinbase have a message saying that my account is not verified but i have uploaded all my identification to them to have my account approved.

In short given all the problems with FTX and there being quite a lot of scammers in Crypto. Does anyone know the best company i can transfer my USDC to and then withdraw
the monies to my bank account.

I looked up Binance but they have loads of bad reviews with people saying they can access their monies for withdrawal.

I am based in Malaysia at present but am originally from the UK.

Any suggestions of a good honest broker to transfer my USDC to and access my cash is much appreciated.

 

I will not give you advice on crypto exchanges, but it is better to exchange with local exchangers.
If you do not want to contact local exchangers, then look at this resource
https://www.bestchange.com/
Order a bank card of one of the available services and change the cryptocurrency.

[mdzahed134]

I would like to recommend you should go with P2P in the few exchanges especially Binance is the best one, you can deposit USDC then convert it USDT OR BUSD then you will get your money in your bank account it’s very easy way to get in your local currency. You don’t need to worry about KYC in Binance, i think it’s safe & trustworthy.

[TheGreatPython]

I looked up Binance but they have loads of bad reviews with people saying they can access their monies for withdrawal.

I am based in Malaysia at present but am originally from the UK.

I don't know from where you saw those loads of bad reviews about Binance while it is the best centralized exchange of the world at the moment. Their P2P trading platform can easily let you convert your USDC to USD or any other currency without any issues if you do Level 1 identity verification which isn't much of a lengthy process and also doesn't take much time.

I've been using Binance for 2 years now and I've never faced any issues with it. You should give it a try and shouldn't listen to those false reviews which most probably are from their competitors to drag them down.

[ryzaadit]

-snip-

I think due to some "FUD" on Twitter.
For @OP, feel free to see the review: https://www.cryptonewsz.com/cryptocurrency-exchange/my/. Local transaction, maybe you can try "LUNO" they supported some Asian country like (Singapore, Indonesia and Malaysia one of them).