Monero (XMR) has emerged as one of the most prominent privacy-focused cryptocurrencies in the digital asset space. Over the past four years, Monero has ranked second only to Bitcoin in terms of code commits, reflecting its active development and strong community support. As of the latest data, Monero’s market cap stands at $8.829 billion, with a circulating supply of 17.86 million XMR and a 24-hour trading volume exceeding $3.5 billion. At the time of writing, each Monero coin is valued at approximately $487.95 (around ¥3,148.40), showing a notable 22.4% increase within 24 hours.
With growing investor interest, a common question arises: how to withdraw Monero to Chinese yuan (CNY)? This guide walks you through the entire process—from account setup to successful withdrawal—using a trusted platform, ensuring clarity, security, and efficiency.
Understanding Monero Withdrawal Basics
Withdrawing Monero doesn’t always mean converting it directly into fiat currency like CNY. Instead, it typically involves one of two paths:
- Converting XMR to a stablecoin (e.g., USDT) and then trading it for CNY via peer-to-peer (P2P) platforms.
- Selling XMR directly for CNY using a regulated exchange’s OTC (over-the-counter) trading service.
Most major exchanges support both methods, making it easier for users in China and other regions to liquidate their holdings securely.
👉 Learn how to securely convert XMR to fiat with low fees and fast settlement.
Step-by-Step Guide: Withdrawing Monero to CNY
Follow these steps to successfully withdraw your Monero and receive Chinese yuan:
1. Register on a Trusted Cryptocurrency Exchange
Choose a globally recognized exchange that supports XMR/CNY or XMR/USDT trading pairs. Begin by visiting the official website and clicking the "Sign Up" button located in the top-right corner.
Enter your email address to start registration.
2. Complete Identity Verification
Slide the verification bar to complete the CAPTCHA puzzle. Then enter the six-digit verification code sent to your email (valid for 10 minutes).
Next, provide your mobile number and verify it using the SMS code also valid for 10 minutes.
3. Set a Secure Password
Create a password meeting the following criteria:
- 8–32 characters long
- At least one lowercase letter
- One uppercase letter
- One number
- One special symbol (e.g., ! @ # $ %)
Strong passwords protect your funds from unauthorized access.
4. Complete KYC (Know Your Customer) Verification
Navigate to "User Center" > "Identity Verification" and complete:
- Level 1: Basic info verification
- Level 2: Government ID submission
- Level 3: Video verification (available only via mobile app)
Higher verification levels unlock greater trading limits and better P2P trade matching.
5. Deposit or Trade Monero
If you already hold XMR, deposit it into your exchange wallet. Otherwise, proceed to the "Trade" > "Basic Trading" section.
Search for XMR/USDT, view real-time pricing, and place a sell order. The minimum trade amount is usually 0.01 XMR.
6. Use P2P Trading to Cash Out to CNY
Go to "Buy Crypto" > "C2C Buy", then switch to "Sell" mode.
You’ll see multiple buyers offering different rates for USDT in exchange for CNY. Choose a reputable seller with high completion rates and positive feedback.
Click "Sell USDT", follow the instructions, transfer USDT to the buyer’s designated account, and confirm once payment is received in your bank account.
👉 Start selling XMR for CNY with trusted traders and instant bank transfers.
Monero Withdrawal Fees Explained
It's important to distinguish between trading fees and withdrawal fees, as they serve different purposes.
Trading Fees
- Spot trading: Typically around 0.2% per transaction
- P2P/Fiat trading: Usually free of charge
- Futures trading: Ranges from 0.02% to 0.05%, depending on volume and pair
For example, trading $1,000 worth of cryptocurrency incurs about $2 in spot fees.
Blockchain Network Fees (For Direct XMR Withdrawals)
When transferring XMR from an exchange to an external wallet, you pay a network transaction fee, not an exchange fee. This fee compensates miners who validate transactions on the Monero blockchain.
Key points:
- Fees vary based on network congestion
- You can sometimes adjust the fee level (low, normal, high)
- Higher fees result in faster confirmation times
Think of it like rush-hour pricing—during peak usage, increasing your fee helps prioritize your transaction.
Note: If you're converting XMR to CNY via P2P, there are generally no additional withdrawal fees, since the transaction occurs off-chain.
Best Practices for Safe XMR Withdrawals
To protect your assets and personal information:
- Always use two-factor authentication (2FA)
- Avoid public Wi-Fi when accessing your account
- Double-check bank and wallet addresses before confirming transactions
- Only trade with highly rated P2P counterparties
- Keep your software and apps updated
Frequently Asked Questions (FAQ)
Q: Can I directly withdraw Monero to my bank account?
A: Not directly. You must first convert XMR to a stablecoin like USDT or trade it for CNY via P2P platforms before transferring funds to your bank.
Q: How long does it take to withdraw Monero?
A: P2P transactions typically settle within minutes once both parties complete their obligations. Blockchain transfers may take several minutes depending on network load.
Q: Is Monero legal to trade in China?
A: While China bans financial institutions from handling crypto transactions, personal ownership and trading via offshore platforms remain common practice. Always comply with local regulations.
Q: Why is my withdrawal fee so high sometimes?
A: Monero’s dynamic fee structure adjusts based on network demand. During periods of high activity, fees rise to ensure timely processing.
Q: What should I do if a P2P buyer doesn’t pay?
A: Reputable exchanges have escrow systems and dispute resolution teams. Never release cryptocurrency until payment is confirmed in your account.
Q: Are there alternatives to selling XMR for CNY?
A: Yes—some users convert XMR to USDT or BTC first, then transfer to another platform with deeper CNY liquidity.
Final Thoughts
Monero remains a top choice for users prioritizing privacy and decentralization. As its adoption grows, so does the need for clear, secure withdrawal methods—especially for investors looking to cash out in local currencies like CNY.
By following this guide, you can confidently navigate the process of selling XMR and receiving RMB through reliable channels. Whether you're new to crypto or an experienced trader, understanding fee structures, verification requirements, and platform features empowers you to make informed decisions.
👉 Maximize your XMR value with fast, secure withdrawals and low trading costs.
Remember: Always research a cryptocurrency before investing. Focus on whether it's listed on major exchanges like OKX, supports leading wallets, and has transparent development activity. Coins available on top-10 global exchanges often undergo rigorous vetting—helping you avoid scams, "air coins," or fraudulent projects limited to obscure platforms.
With proper knowledge and tools, withdrawing Monero doesn’t have to be complicated—or risky.