How to correctly exchange cryptocurrency for rubles. Step-by-step instruction

There are several ways to legally and securely withdraw digital assets, such as Bitcoin. We explain the whole process in detail There are many options for withdrawing cryptocurrency and exchanging it for fiat money. This …

There are several ways to legally and securely withdraw digital assets, such as Bitcoin. We explain the whole process in detail

There are many options for withdrawing cryptocurrency and exchanging it for fiat money. This can be done using exchangers, directly from exchanges, for cash in person, and in other ways. We tell you in detail about each of them, about the possible risks and commissions, and explain whether you need to pay taxes and how to do it.



The most popular way to withdraw cryptocurrency is through exchangers. Special services allow you to sell cryptocurrency and then send money to a bank card, payment system like PayPal and others.

Step by step it looks like this:

  • an exchanger is selected;
  • the cryptocurrency and the volume to be withdrawn are indicated;
  • in response, the exchanger determines the amount received, for example, in rubles, and also indicates the address to which the coins need to be sent;
  • the user transfers coins to the specified address. In some cases, after that, on the exchanger's website, you must click the "paid" button. If this is not done, the money will not be transferred;
  • when the cryptocurrency arrives at the address of the exchanger, its employees will process the transaction and transfer funds to the user's account.

Important! When using an exchanger, you need to transfer exactly the number of coins that was agreed in the transaction. Otherwise, you may lose funds, since the service does not recognize the transfer.

Usually the process takes about 10-15 minutes, sometimes faster. If more time has passed, you should contact the technical support of the service and find out what is the reason for the delay. The reasons are different. For example:

  • The delay can occur due to the congestion of the cryptocurrency network, in such cases, transactions are confirmed slowly;
  • In the event of an error in the data when filling out the application, the cryptocurrency will most likely be irretrievably lost.

The amount of commissions on average ranges from 1% to 10%, in rare cases – significantly exceeds this value. The amount of fees depends on:

  • from the cryptocurrency that the user withdraws;
  • from its reserves at the service;
  • from withdrawal methods and other factors.

In addition to the commissions of the exchanger itself, some of the fees will go to external payment systems, for example, such as Then the commission will be charged for withdrawing funds to a bank card. This must be taken into account.

There are special aggregators that help users in the selection of exchangers. On such services, you can filter services by withdrawal methods, prices, customer reviews and other parameters.

It is important to remember that there is always a risk of running into scammers. This can be a phishing site that copies the interface of a real site, or an exchanger that was originally created with the aim of deceiving. Therefore, when using an unfamiliar service, you need to be careful, it is advisable to try with a small amount. However, it is worth considering the fact that attackers can miss a small transaction and freeze a large one.



Another popular way to buy and sell cryptocurrency is through exchanges. Many trading platforms now have the function of direct withdrawal of funds to a bank card. It is convenient and most often safe, but the fees can be higher than those of exchangers.

When cashing out a cryptocurrency, the trading platform transfers funds to a third-party service, and that service already transfers money to the user. In this case, he immediately pays a double commission, the total value of which can reach 4-5%. You should always check the withdrawal conditions before taking any action.

When withdrawing a cryptocurrency, one should take into account the risk that its rate may plummet. For example, on June 22, the price of bitcoin for the first time since January of this year fell below $ 29 thousand. It is safer to withdraw funds in stablecoins – these are cryptocurrencies, the rate of which is pegged, for example, to the dollar. The most famous of these is the Tether USDT token.

To prevent losses due to a sharp drop in the rate, there is a function of its freezing. Some services, when concluding a deal, allow you to temporarily fix the price at which the cryptocurrency will be sold. Typically 15 minutes. However, additional fees may apply for this option.

other methods


You can also cash out cryptocurrency using cryptomats – this is an analogue of ATMs. Each of them has its own digital address. The user can transfer funds to it and thus cash out Bitcoin and several other popular coins.

However, crypto ATMs have their drawbacks:

  • High commissions, often in excess of 5%;
  • Low prevalence. According to, there are only 7 of them in Moscow;
  • The risk of using a fraudulent device.

Another risky way to exchange cryptocurrency is with a cash transaction. For example, when meeting, transfer digital assets and receive money. It is important that such operations can only be carried out with well-known people whom you trust. Otherwise, there is a risk not only of losing funds, but also putting your life in danger.

There are many ways to cheat. A partner can pay at the wrong rate, disappear when receiving a cryptocurrency, appropriate it for himself, citing a technical error, or simply rob it.

A safe way to close a deal with another person without intermediaries is through p2p sites. The most popular of these is LocalBitcoins. The service is a guarantee that its clients will not deceive each other.

The main disadvantages of withdrawing funds through LocalBitcoins:

  • The price is indicated without the commission that the bank or the system will take for the transfer;
  • Due to the low popularity of p2p services, there are fewer offers to sell or buy.

Another non-standard way of exchanging cryptocurrency for fiat is through Telegram bots. They allow you to buy and sell bitcoin and other coins, as well as store them on a wallet linked to your Telegram account.

This option is extremely risky. The user trusts his money to a complete stranger, with whom it will almost certainly not be possible to get in touch if something goes wrong.



Cryptocurrency transactions are not always, but they can generate income. In this regard, the user must pay tax on the transactions performed. Its value is 13%, said Yuri Brisov, a member of the Commission on Legal Support of the Digital Economy of the Moscow branch of the Russian Lawyers' Association.

“Individuals pay income tax. Property sales tax in Russia – 13%. A citizen must deduct from the amount in rubles received as a result of "cashing out" the cryptocurrency, the amount in rubles that he spent on the purchase of the cryptocurrency. You should pay 13% from the difference, ”the expert said.

He added that printouts from wallets, confirming the formation of income, should be attached to the personal income tax form-3 submitted to the tax office. However, there is no such requirement, and the return can be submitted simply by indicating the amount of income. The income of individuals from the sale of cryptocurrency minus the costs of purchasing it is subject to personal income tax at a rate of 13%.

“To pay tax, you need to submit a tax return in the form of 3-NDFL to the tax authority at the place of your registration in person, by mail, through the MFC or in your personal account on the website of the Federal Tax Service of Russia, and pay personal income tax. The tax authorities can conduct a desk review of the declaration and request additional documents and explanations. The declaration of income for 2020 had to be submitted by April 30, when filing it, a fine will now be charged, and it will increase with each month of delay. But it is still painless to pay tax on such a declaration if you manage it before July 15. ", – explained Dmitry Kirillov, senior lawyer of tax practice at Bryan Cave Leighton Paisner (Russia) LLP, lecturer at Moscow Digital School.

Cashing out cryptocurrency in parts and blocking bank cards


Brisov explained that when cashing out cryptocurrency, you shouldn't split it into small amounts. This will not prevent the bank from verifying the transaction if it considers it suspicious. Moreover, dividing one payment into several small ones in international practice is perceived as unfair practice and always raises questions from the monitoring service. Therefore, any "cunning" schemes can incur the wrath of not only the bank, but also law enforcement agencies on their executor.

“Experienced participants in crypto-turnover know that banks have“ flags ”for certain amounts, so they often advise to“ split ”payments into amounts of up to 50 or 30 thousand rubles. The law does not provide for such restrictions on the amount, and banks can check any suspicious transaction even for 1 ruble … It is not recommended to engage in "splitting", you just need to indicate the legal basis for the transfer, save transaction confirmations and pay tax on time. Thus, under the current legislation, cryptocurrency activities should not bring problems, ”Brisov said.

Efim Kazantsev, Ph.D., an expert at the Moscow Digital School, added that the bank may block funds if the cryptocurrency cashing operation seems suspicious to him. This is provided for by Federal Law 115-FZ "On Counteracting the Legalization (Laundering) of Criminally Obtained Incomes and the Financing of Terrorism."



There are at least six ways to withdraw cryptocurrency. The most popular way is through exchangers. Aggregators will help you choose a service with the most favorable rate and provide an opportunity to work with a huge number of payment systems. But there is a risk of using the services of scammers and losing money.

The most convenient way to withdraw funds is through exchanges. However, not all marketplaces have this option. Plus, an additional commission may be charged for withdrawing cryptocurrency if the transaction takes place through third-party services.

By law, a citizen of the Russian Federation must pay tax when cashing cryptocurrency. Gray schemes, for example, avoiding this by splitting the withdrawal amount into parts, can lead to card blocking. Such transactions are recognized by banks as suspicious.

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