Key points
- Crypto cannot be paid into a bank account. You sell it for AED, then withdraw the dirhams.
- MKX's fee schedule lists a 1.5% trading fee, a minimum AED withdrawal of AED 100 and a withdrawal fee of 30, with no currency named, as read on 19 October 2026.
- Withdraw only to a UAE bank account you can show is yours, and check with support first if it is a joint or company account.
- MKX publishes no processing time for AED withdrawals, and your bank's handling comes on top.
- Keep the transaction hash, the trade confirmation and proof of where the crypto came from.
The short answer
A bank account holds dirhams and has no blockchain address, so the route is always two moves: sell the crypto for AED, then transfer the AED to a UAE bank account. Who buys your crypto decides the cost, the speed and the paperwork you are left with. The comparison of cash-out routes sets a licensed firm beside peer-to-peer and OTC options.
This page walks through the licensed-firm route using MKX as the worked example, because its fees and limits are published. Other providers differ, so check theirs before you send anything. You can read more about the firm on the about page.
Before you start
Three checks save most of the trouble. First, confirm the firm is licensed for the activity: MKX is licensed by the Dubai Virtual Assets Regulatory Authority (VARA) for Broker-Dealer Services, reference VL/25/04/001, and the register entry is linked in the sources. The guide to whether crypto is legal in Dubai explains how to read an entry. Second, complete identity verification, which MKX asks for with an Emirates ID or passport and a liveness check, a camera prompt showing that a real person is present. Third, decide which asset and network you will send, because the deposit address is specific to both.
MKX is a broker-dealer, not an order-book exchange. You sell against the price it shows rather than waiting for another user to match you.
The four steps
- Deposit the crypto. Copy the deposit address for the exact asset and network from your account and send from your own wallet. MKX lists USDT on five networks (ERC20, BEP20, TRC20, Polygon-POS and SOL) with a deposit fee of 0 and a minimum of 1 USDT. A transfer on the wrong network can be lost, so consider a small test amount first if the sum is large.
- Sell it for AED. The first price shown is indicative. The final price and the 1.5% fee appear on the trade execution screen before you confirm, so read both there. Crypto prices can move within hours, so the AED you receive depends on the price at the moment you confirm.
- Withdraw the AED. Request a bank transfer to a UAE account. The minimum is AED 100 and the fee schedule lists the fee as 30.
- Check the credit and keep records. Confirm the money has arrived in your bank and save the trade confirmation and the deposit's transaction hash, which you can follow on a public block explorer.
The guide to selling USDT in Dubai covers the USDT case in more depth. Timing is covered in how long an AED order takes.
What it costs
| Item | Published figure |
|---|---|
| Crypto deposit (USDT) | Fee of 0, minimum 1 USDT |
| Trading fee on a sale | 1.5% |
| AED bank withdrawal | Fee of 30 (currency not named), minimum AED 100 |
| Spread | Not published |
As an illustration of the arithmetic only, a sale worth AED 1,000 at a 1.5% fee costs AED 15 in trading fees. If the withdrawal fee of 30 is read as AED 30, a small payout loses a large share of its value to it, which is why the minimum matters. Your bank may also charge for receiving a transfer; that charge is the bank's, not MKX's. The fees page carries the full schedule, and the quoted price is the second number to check after the fee.
What your bank may ask
UAE banks apply their own checks to incoming credits, and a transfer from a virtual asset firm can prompt questions about the source of funds. Be ready to show the trade confirmation, the transaction hash of your deposit and records of how you first obtained the crypto. Withdraw to an account in your own name, because MKX has not published whether a differently named recipient is accepted. The FAQ and support are the places to ask before you send, not after.
Dirhams held for clients sit in a Client Money Account with a regulated financial institution licensed in the UAE. The security page sets out what MKX publishes on custody and what it does not.
Larger amounts
For a very large sale, a retail flow may not suit, and some holders look at an over-the-counter (OTC) desk, where a price is agreed for the whole amount instead of taken from a screen. IWGT, an independent firm with no affiliation to MKX, explains one such approach to large-volume crypto settlement in the UAE. Whatever route you use, check the firm's licence, the written price and the payment terms before you send crypto.
Common mistakes
- Sending to the wrong network or an old address.
- Selling at the indicative price without reading the final one.
- Withdrawing a small sum and meeting the fixed fee at full weight.
- Using a third party's bank account.
- Throwing away the records a bank may later ask for.
Frequently asked questions
Can I send crypto straight to my bank account?
No. A bank account holds dirhams and has no blockchain address. You sell the crypto for AED with a firm that offers the service, then withdraw the AED by bank transfer to a UAE account.
What does it cost to cash out at MKX?
MKX's fee schedule lists a 1.5% trading fee on a sale, 0 to deposit USDT, and an AED withdrawal fee of 30 with an AED 100 minimum. The schedule names no currency for the 30, so confirm the unit on the fees page before withdrawing.
How long does the AED take to arrive?
MKX publishes no processing time for AED withdrawals, and your bank's handling of an incoming credit comes on top. Treat any promised time as unverified until you have it in writing.
Which crypto can I cash out?
MKX lists deposit minimums for assets including USDT, Bitcoin and Ether, and accepts USDT on five networks. Check the fees page for the asset and network you hold before sending anything.
Will my bank ask questions about the money?
It may. Banks can ask about the source of funds and the purchase history behind a credit. Keep the transaction hash, the firm's trade confirmation and records of where the crypto came from.
Do I pay tax when I cash out?
This guide gives no tax advice. Tax treatment depends on your circumstances, so check current rules with the relevant UAE authority or a qualified adviser before you sell.
Sources
Each MKX page was read on the date shown. Where a page publishes no figure, none has been assumed. IWGT's page was not read in full for this guide.
- MKX, Fees: https://mkxotc.com/fees/ (accessed 19 October 2026)
- MKX, Sell USDT: https://mkxotc.com/sell-usdt/ (accessed 19 October 2026)
- MKX, Security and custody: https://mkxotc.com/security/ (accessed 19 October 2026)
- MKX, FAQ: https://mkxotc.com/faq/ (accessed 19 October 2026)
- Dubai Virtual Assets Regulatory Authority (VARA), register entry for MKX Virtual Assets Broker & Dealer Services L.L.C.: https://www.vara.ae/en/licenses-and-register/public-register/mkx-virtual-assets-broker-dealer-services-llc/ (not re-read on 19 October 2026; licence reference as stated in the MKX footer)
For information only, not investment advice, legal advice or tax advice. Capital is at risk. Providers' terms change, so confirm current limits, fees and timings with the firm before you act.