- Visit https://www.bitmart.com/login/en to sign in to your BitMart account. If you do not have a BitMart account, register via https://www.bitmart.com/register/en.
- After you sign into BitMart, click on your account and then click Assets.
- On the Assets page, Click Buy & Sell. And then click Transfer. Here we are using USDT transfer as an example.
- Enter the amount of assets you want to transfer from your Spot account to the Buy & Sell account. And then click Transfer.
- After transferring assets to your Buy & Sell account, go to Buy & Sell page, click on Sell. Select the token and enter the amount you want to sell.
- Choose Simplex as your way of payment and click on Sell.
- Check the agreement box and click Continue.
- If you don’t have a Simplex account yet, please create a new one following these steps. If you already have a Simplex account, you can skip this step through step 16 and go directly to step 17.
- Click Create a free banking account.
- Click Create account.
- Enter your email, check the agreement boxes and click Next. And then go to your mailbox and finish the email verification process.
- Enter your personal information, phone number, address; create your password and then upload your identifying documents.
- Click Get secure link. Scan the QR code with your phone. Click Submit verification.
- Choose your employment status, sources of income & activity, purpose of Simplex banking account, and answer all questions needed. Click Continue after you finish the questionnaire. The pictures below are for demonstration purposes only and you shall complete the questionnaire in accordance with your actual situation.
- Once the Simplex team has reviewed your application, check your mailbox and submit the responses to some follow-up compliance questions (if there’s any) to finish the initial verification process.
- Once your Simplex account is ready to use, go to the Simplex website and log into your new account. Please note that with your Simplex Banking account opened, any and all your future buy and sell orders with Simplex are entitled to a fee of 0.5%.
- And then go to BitMart Buy & Sell page. Click Sell. Use USDT for an example - enter the amount of USDT you want to sell.
- Choose Simplex as your way of payment and click on Sell.
- Check the agreement box and click Continue.
- Select/Enter your Simplex account and verify your email.
- After the email verification, you will receive a confirmation email from Simplex and can continue to transfer funds.
- Please note that once you confirm the sell arrangement with Simplex, the corresponding amount of cryptocurrencies in your Buy & Sell wallet will be automatically transferred to Simplex. You do NOT need to arrange any deposits manually. Simplex will send out emails confirming the status of the sell arrangement as listed below.
- In parallel, you may check your transaction status in the Sell History section on BitMart website. It may take a while for the status to change from Processing to Suceeded, which confirms that the cryptocurrencies are sent to Simplex.
- When you see the balance of your Simplex Banking account updated, it means the Sell is completed and now you have the Fiat in your Simplex Banking account. While you can keep it in the account to facilitate your future crypto Buy and Sell, you can initiate a wire transfer to send the funds to your own bank account. Standard wire transfer fees will apply. Below steps are for wire transfer arrangements:
- Click on International (SWIFT) and fill out the following information needed.
- Enter the amount you want to wire and click Continue.
- Enter the 6-digit verification code you receive on your phone to confirm your payment. And then click on Continue.
- And then you will see this confirmation page of your wire payment.
- Now you are all set and you can wait till the funds arrive in your own bank account.
