Can I Transfer Bitcoin To My Bank Account
Transfer Bitcoin to bank accounts This is a question that many users often ask themselves, but you should know that this is not possible, you cannot transfer Bitcoin to regular bank accounts. First, you need to sell or exchange them in your currency so that you can transfer them to your bank account.
- Can I Transfer Bitcoin To My Bank Account
- How Can I Transfer Bitcoin To My Bank Account
- Can I Transfer Money From My Bitcoin Wallet To My Bank Account
- Can I Transfer Bitcoin From Coinbase To My Bank Account
Bitcoins investment is one of the riskiest yet there are high profits included. ‘
Can I Transfer Bitcoin To My Bank Account
Different Ways to Cash Out Bitcoins into Cash or Bank Account
The simple way to sell or cash out Bitcoins is to sell them via some websites which are quite famous and reliable in their business.
- You then transfer Bitcoin to the service for trading. The money will reflect on your account when the exchange sells your bitcoin. It is essential to use the same bank you used to deposit to avoid breaking the money laundering laws. On average, it takes 4-6 days for the money to reflect in your account in the United States.
- Even if you’re content to accept digital transfer of funds, you’ll need to decide which currency you want to be paid in, how much you’re prepared to lose in fees, and whether to favor bank.
- How to transfer bitcoin to bank account? The good news for crypto customers is that now you can transfer bitcoin to a bank account with almost zero charges, you just need to find a service that is willing to buy your Bitcoins. It also allows you to deposit bitcoin to bank account or withdraw bitcoin to bank account once you get a transaction confirmation text on your mobile phone.
1. LocalBitcoins
On this website, you can sell Bitcoins in two ways- through online bank transaction or in hand transfer. You need to sign up and add the Bitcoins which you are willing to sell. You can prefer to sell for direct cash/ or bank transfer. People around you could see the price which you are quoting and can approach you. Since LocalBitcoins doesn’t verify the users beware of fraudsters as people you meet can harm you and may not be trustworthy. Localbitcoins connect the purchaser and seller personally where the Bitcoin can be converted to cash without any taxes or banking charges. Visit LocalBitcoins.
2. Bitquick
Bitquick is a platform where you can sell Bitcoins at the current price without any commission and is one of the fastest exchange. They provide a simple procedure where the user needs to enter the amount of Bitcoin on the personalized escrow address. There are various option to sell Bitcoin at such as static pricing and dynamic pricing. Dynamic pricing allows you to select the Bitcoin exchange rates and time of Bitcoin pricing. Such as 24hrs average, current price, whichever is greater. The amount would be directly sent to your bank from where you can withdraw the cash. Bitquick is not a secure website though, which may tamper your credentials. Visit Bitquick.
3. Coinbase
This is a trustworthy, safe place where you can sell Bitcoins for a reasonable price. Even though they levy a percentage of commission yet it is safe without any risks. You can go the wallet and select the number of Bitcoins you intend to sell. Once you confirm the amount would be sent to your bank which is being registered on Coinbase. Visit Coinbase.
4. CEX.io
Cex.io allows you to cash out the bitcoins in two different forms- bank transfer and cryptocurrency. This can be used for further investment or can be used to cash out. Cex.io is trustworthy exchange located in London. They require ID verification and valid proofs in order to make a transaction with them. Visit CEX.io.
How Can I Transfer Bitcoin To My Bank Account
5. Peer-to-Peer trading
This method of Bitcoin to cash includes a Bitcoin space such as Brawker or Purse where I would put my Amazon request regarding some household or personal purchase and the final cheque would be paid by a random stranger through his credit/debit card. Once the package reaches my place the Bitcoin space would pay the stranger in appropriate Bitcoins. In this way, the products which we need can be bought for Bitcoins. Bonus Tip:
Can I Transfer Money From My Bitcoin Wallet To My Bank Account
How to Cash Out BTC in the Local Market
Can I Transfer Bitcoin From Coinbase To My Bank Account
In most of the countries, people are waiting to buy and invest on Bitcoin without using a bank account. Some do that to save the tax amount while some do it for illegal purposes without producing any documents/credentials. In fact most of the people with black money these days prefer using Bitcoins for converting their black money, in countries like India, people end up paying 10-15% more than the actual Indian Bitcoin value just for a cash purchase. This method is both cheaper and riskier than other markets. If any of our friend, family or relative is holding a Bitcoin and are willing to sell then you can get the Bitcoin at the actual price i.e. 15-30% less than the Indian value. By that way, you can make an in hand transaction without paying any commission to Bitcoin exchanges or paying tax to the government. The liquidity of Bitcoin can be maintained by these way where you can save yourself from bearing a loss. Converting to hard cash is always slightly difficult and risky while you can convert it into the bank account or other cryptocurrencies easily. There are some websites such as Coin.ph where you can invest on Bitcoins and can take it back to the Coin.ph wallet where it is safe and secure. It can be reused to either invest or can be reverted back to the bank account.