Binance Users in Ukraine Face Withdrawal Challenges
You’ve probably heard the news by now, Binance users in Ukraine are having a lot of trouble when trying to get their money out of the exchange. I’m talking about the fact that Visa and Mastercard bank cards aren’t working for withdrawals. This isn’t the only issue, it’s all part of the larger problem of Ukrainian users being left without a key withdrawal option.
I should mention that this mess started when Bifinity UAB, the fiat service provider for Binance, went through some big changes. The pause in service is hitting automated features for fiat transactions hard. You’ll be glad to know that you can still make recurring crypto purchases and place fiat-based limit-buy orders, but for now, those orders won’t be filled. It’s a bit of a mess, but that’s exactly what’s happening.
Withdrawal isn’t the only area where things are stuck. If you’re trying to make automated fiat transactions, you’ll find that they aren’t working either. I’m going to remind you of what happened back in December when Binance announced that Bifinity would stop providing fiat services in 2025. Back then, Binance said they would introduce new regulated providers to help users move money off the exchange without interruption.
Right now, it’s not easy for users to move their funds off the exchange. That being said, there are a couple of options you can consider. If you want to move your crypto off the exchange, you might want to consider using SWIFT transfers, but you also have the option of peer-to-peer trades if local regulations permit. On the bright side, you can still use Zen.com to make euro and Polish złoty transfers, but you’ll need to hold tight until January 6, 2026.
You’ll be happy to know that Binance is still allowing people to deposit funds and buy crypto in Ukraine. Even with the withdrawal issues, you can still use Visa and Mastercard to make incoming payments. If you’re trying to top up your account, Apple Pay and Google Pay will still work, and SWIFT transfers are available for both deposits and withdrawals.
This situation with Binance users in Ukraine serves as a reminder that crypto exchanges face a lot of challenges when navigating regulatory changes. It shows how they must constantly adapt and solve problems in order to provide seamless services to their users.
