Topic: How to cash out DEFI(DFI) token to a bank account? (Read 145 times)

You didn't give a more complete description of the name of the token, so someone who wants to help you will look more difficult. Defi is a decentralized blockchain system. If the name of the token, then there is a symbol or TokenTracker.
However, if the token is listed on an exchange, you can exchange it for coins or tokens listed on the binance exchange, crypto.com, coinbase and uniswap, or with the USDT stable coin.

You can go to the CoinMarketCap website, find the coin, click on "Market", and it will tell you which exchanges that it is listed on.

You can always have a look at coingecko or coinmarketcap to check what exchanges have this token. I take it that you can only buy this token on a Dex exchange. If it's DefiChain (https://coinmarketcap.com/currencies/defichain/markets/) you are talking about you also have it on Kucoin or Bittrex. You can transfer them to one of these exchanges and sell them for USDT or USDC and then redeem it for fiat.

This probably needs some centralized exchange like Binance if you want to cash out since Binance got a Peer-to-peer trading (P2P) where you can get a fiat currency swap to your cryptocurrency.
You will convert your Defi token to maybe to BNB or BUSD then sell that to someone, if you don't know someone from your location, for sure you gonna sell it online and P2P is your solution.

Using the major exchange will not always become the way to cash out your money. You can try to use another exchange site and can you tell me what coin? i can give you recommendation for which good exchange site to cash out your token. The thing that must be done by you to exchange your token into the another token that already available on binance , crypto.com, or uniswap.
If you can give a ticker of your token and we will able to help you.
You must be aware about what kind of blockchain that used by your coin. Just drop ticker of your coin and we will be able to identify which the best exchange site for you to cash out your token. If your token was using different blockchain other than ethereum blockchain and it will not able to be traded on uniswap coz uniswap operated only in ethereum blockchain. I see that it's defi chain token and you can use kucoin to cash out your token to the your bank account. If you're feeling doubt with it and just send your defi chain to the kucoin and you can exchange it for USDT and then send it to your binance account to withdraw it into your bank account. This token was also available on uniswap. You may not see that correctly. Kucoin has direct transfer to your bank account and i have been using this exchange sites for years. it's having good reputation.

To find the information about where to exchange your token, you are to look at the page of this coin on coinmarketcap. I haven’t found any centralised exchanges where you can exchange DFI directly to USD and withdraw to your bank account, but you can use Uniswap or Kucoin to transfer DFI into Bitcoin or USDT and then using any centralised exchange, you can withdraw money to your bank account.

That also includes projects that are already so deserving of success that many exchanges are willing to accept the project for listing, but is the OP talking about that project or is there really another project with a similar name to what you said

Once your ETH, BTC or USDT is in your CakeDeFi Assets, you can withdraw them. Click the corresponding WITHDRAW button for the token you want to withdraw. In the withdrawal pop-up, select DeFi Blockchain as the Transfer Network. Enter your DeFiChain receive address in the To DeFi Blockchain address field.

DFI is a a decentraliced coin based on bitcoin and is running on it's own blockchain. www.defichain.com (So it is not a token on an other chain)

Cakedefi is a centraliced company in singapore providing different services, one is easy but limited access to DeFiChain.

If you have DFI at cakedefi and what to cash them out you need a crypto to fiat gateway.
1. transfer to KuCoin or Bittrex (both are good)
2. End of this month you can also use the www.dfx.swiss (at the moment only fiat to DFI) to directly Swap your DFI to your SEPA (Euro) account.
3. End of November of beginning of December you will also be able to use the Defichain DEX directly from Cakedefi to swap your DFI to ETH or BTC and then you can transfer it to whatever account/wallet you would like to send.
4. you could also use the defichain directly, but it need several spent and the way you ask I think 1-3 would be better for you.

Try conveying the right message then.

https://coinmarketcap.com/currencies/defichain/markets/

If this is the project you are talking about.

It is being traded on many reputable exchanges that you can deposit and trade on.

What is the token name?
Maybe if you can tell the name and where it is listed, we can suggest something.
You should search for how to convert into popular coins such as BNB, ETH, Polygon, TRX and then send it into Bittrex, Binance or other popular exchanges.
If you can send it into another wallet, that will be the way to convert it into other coins or tokens.
That is the only way you can cash out your token.
I am sure there is a way for you to convert the token to popular coins.

He didn’t point me to bittrex, it was my choice..

It's strange that the support will point you to a centralized exchange to sell a token that's supposed to be a "DeFi". I assume that's a bep20 and you usually see them traded on PancakeSwap with BNB pair or on other AMMs first before any CEX listing. Goodluck anyway and I hope you're not holding a scam token.

Then you have to send that to your bittrex account and make sure that it's the right wallet address so that there's no mistake that will happen as you deposit and send it there.

And once it's already on bittrex, trade it for another crypto, maybe a stable coin or bitcoin and there goes the possibility of cashing it to your bank account.

Check it too if bittrex supports any of that method on your country.

Hi,

They don’t have the possibility to withdraw money only to send it to another wallet. The support wrote me already the answer is bittrex for example.

Thank you anyway!
Christian

You can following belows suggestions only for major crypto currencies or which one is listed already.
Look for a “Buy/Sell” option on your dashboard, select “Sell,” and enter the cryptocurrency and amount you want to withdraw. Crypto exchanges often place a short hold on the withdrawal (usually five days) before releasing the bitcoin and transferring the money to your bank account.

It is in the cake defi wallet. I don't know if this helps?

app.cakedefi.com is the homepage

Dear Community,

I was googling several hours to find a opportunity to cash out DEFI(DEF) but binance, crypto.com, coinbase and uniswap do not list this token. 

Or maybe I didn't see it there?

Please be so kind and give me help.

Thank you,

Christian