0xProcessing is a cryptocurrency payment gateway designed for businesses that want to accept cryptocurrency from customers around the world. The platform supports dozens of currencies and networks, offering a familiar traditional acquiring logic, but with the advantages of digital assets.
One of the main advantages for businesses is the quick and easy withdrawal process. In this guide, we will take a detailed look at all the available methods for withdrawing money from your 0xProcessing account: from instant cryptocurrency transactions to withdrawing fiat currencies to a bank account, as well as their key features and fees.
The main method: Instant withdrawal in cryptocurrency
The fastest and most popular way to withdraw funds is to transfer them directly to your external wallet in cryptocurrency. Its key advantage is 24/7 availability, without weekends or holidays.
How it works: you initiate the withdrawal from your personal account, and the system sends the transaction to the network. There is no commission for the withdrawal itself. You only pay the network commission, which is charged by miners or validators of a particular blockchain for processing your transaction.
You can only withdraw funds in the cryptocurrency that is in your balance. For example, you can only withdraw ETH from your Ethereum (ETH) balance.
0xProcessing supports major blockchains and popular tokens. Here are just a few of them:
- Bitcoin (BTC): Bitcoin network.
- Ethereum (ETH) and ERC-20 tokens: USDT (ERC-20), USDC (ERC-20).
- Binance Smart Chain (BNB) and BEP-20 tokens: USDT (BEP-20), USDC (BEP-20).
- TRON (TRX) and TRC-20 tokens: USDT (TRC-20).
- TON (Toncoin): The Open Network.
- Litecoin (LTC): Litecoin network.
In total, the platform supports more than 65 popular cryptocurrencies and many networks. The current and complete list is always available on the official website: https://0xprocessing.com/supported-coins/.
Want to accept crypto payments on your website?
How to change the cryptocurrency for withdrawal
What if you need to withdraw funds in USDT (TRC-20), but you only have ETH in your balance? In this case, you don't need to send coins to the exchange. 0xProcessing offers a convenient solution – an internal exchange (Exchange) right in your personal account.
The exchange function allows you to convert one token into another at any time. This can be useful for managing balance liquidity for customer withdrawals or for fixing profits. A network commission is also charged when making an exchange, which makes the process economical.
Alternative for businesses: Withdrawal in stablecoins
The main problem with cryptocurrencies is their volatility. To protect your business from sharp exchange rate fluctuations, 0xProcessing offers a VRCS (Volatility Risk Conversion Service).
How this solves the volatility problem
Let's imagine that your online store accepts payments in Ethereum (ETH). A customer buys goods worth $500, and at the time of purchase, the ETH exchange rate is $2,500. You receive 0.2 ETH to your balance. Without VRCS, this 0.2 ETH will remain in your account. If the ETH rate drops to $2,000 the next day, the value of your balance will decrease to $400, and you will lose $100 solely due to market movements.
If you have VRCS activated, the system will automatically convert these 0.2 ETH into USDT stablecoin at the current rate after the payment is credited. As a result, your balance will show $500 in USDT, whose value is pegged to the dollar and will not change even if the cryptocurrency market crashes. Withdrawing these USDT guarantees that you will get back the exact $500 that the customer paid.
Thus, VRCS allows you to fix the value of your income in US dollars, protecting your capital from a possible exchange rate drop. This service is especially useful for financial planning and stabilising company expenses. You can read more about setting up VRCS in the documentation: VRCS Setup.
Withdrawal to fiat currencies (euros, dollars)
For those who need to deposit funds into a traditional bank account, 0xProcessing offers the option of withdrawing in fiat currencies. It is important to understand that this is a separate service that requires additional processing and takes longer than instant cryptocurrency withdrawals.
Available bank transfer methods:
- SEPA Transfer: For transfers in euros to accounts in banks located in the Eurozone.
- SWIFT Transfer: For international transfers, primarily in US dollars (USD), but potentially in other currencies as well.
The commission for fiat withdrawals is not fixed. It depends on the currency and transaction amount and is calculated individually for each request.
Fiat withdrawal requests are processed on a first-come, first-served basis by platform staff, so the waiting time for the funds to be credited to your account may be several days.
Conclusion
0xProcessing offers a flexible and well-designed withdrawal system that can meet the diverse needs of modern businesses.
For maximum speed and minimum fees, it is best to use direct cryptocurrency withdrawals. To protect against volatility and lock in profits in dollar terms, USDT withdrawals via the automatic VRCS mechanism are ideal.
To withdraw funds to a traditional bank account (in euros or dollars), you need to use SEPA or SWIFT transfers, taking into account their individual rates and longer processing times.
To start withdrawing funds, simply log in to your personal account on 0xProcessing and go to the ‘Dashboard’ -> ‘Withdraw’ section.
FAQ
What is the minimum withdrawal amount?
The minimum withdrawal amount from the merchant’s personal account is equivalent to approximately 10 USD in the cryptocurrency being withdrawn.
What fees are charged for withdrawals?
The 0xProcessing gateway does not charge its own fee for cryptocurrency withdrawals.
- You only pay the network fee of the respective blockchain.
- Fees for fiat withdrawals (SEPA or SWIFT) are calculated individually.
Can I withdraw USDT if I only have Bitcoin in my balance?
Yes, but not directly.
- First, use the internal exchange function in your personal account to convert BTC into USDT.
- After conversion, you can withdraw USDT.
Why is my fiat withdrawal taking so long to process?
Fiat withdrawals (euros or US dollars) are not automatic blockchain transactions.
- They require manual verification by platform staff.
- The transfer is then processed via SEPA or SWIFT.
- Processing time depends on traditional banking rules and operating hours.
What is VRCS and how does it help with withdrawals?
VRCS (Volatility Risk Conversion Service) automatically converts incoming payments from volatile cryptocurrencies (e.g., ETH) into USDT stablecoins.
- Protects your balance from exchange rate fluctuations.
- Fixes the value of deposits in dollar terms.
