Can You Withdraw Bitcoin

1. Transfer Bitcoins To Bank Account
2. Can You Withdraw Bitcoin From Etoro
3. Can You Withdraw Bitcoin From Robinhood
4. Can You Withdraw Bitcoin Into A Prepaid Card
5. Can You Withdraw Bitcoin For Cash
6. Can You Withdraw Bitcoin From Robinhood

After a number of successful trades, you may decide to withdraw your Bitcoin from Paxful wallet. This can be done as a send-out transaction to an external wallet. You can send Bitcoin from your Wallet page. Check our guide for more information about the process. Also, be aware of the types of Bitcoin addresses we support and note our wallet fees. An example is if you hold both Bitcoin (XBT) and Ethereum (ETH) in your account, you can't withdraw the total amount in one Litecoin (LTC) withdrawal. Solution: exchange your.

How to cash out Bitcoin to Fiat: a review of various methods and a manual. How to transfer money out the crypto exchange accounts and wallets by means of exchangers and payment systems

Cryptocurrency exchanges, cloud services, exchangers, payment systems are all engaged into a huge network, called the Cryptocurrency Universe. Applications and wallets, bank cards, accounts of the digital networks, like WebMoney or Perfect Money, all of them make up a system of depositing, exchanging and withdrawing the money. From this review, you will learn how all market participants interact, how to withdraw Bitcoin from the wallet, and if there are any alternatives to the exchanges and wallets.

How to cash out Bitcoin from the wallet

Cryptocurrencies are getting more and more popular as a trading instrument, and there are appearing more and more mediators in the crypto market. The difficulty in the interaction between all market participants is that there are no common rules and no common standard. Each crypto exchange works only with certain payment systems; each exchanger supports only a certain set of cryptocurrencies. The way of depositing and withdrawing the money can sometimes be so complex that investors lose much money due to the commission fees, to say the least. There is no standard scheme how to withdraw Bitcoin from a wallet or an exchange account, because the rules in the crypto exchanges are changing all the time: new schemes are appearing, the commissions are changing, and so on. I’m going to suggest a general manual how to withdraw Bitcoin to the bank card; you are welcome to enrich and extend it in the comments.

How to withdraw BTC to bank card and convert it into Fiat currencies

It can seem that it is more reasonable to describe the way of depositing money, rather than withdrawing it. Before you cash out your cryptocurrency to Fiat, it should be somehow deposited into your trading account. And so, it is the easiest to withdraw it in the same way as you deposited it. But, in fact, it is not that simple. First, it is far easier to deposit the money than to withdraw it. For example, you can transfer a payment of almost any appointment from your credit card, but you can’t receive it. Second, the cryptocurrency may be added to the wallet as a result of mining. That is, there hasn’t been the account depositing, in fact.

First, I’ll describe a general scheme of the relationships between all crypto market participants. There are two ways of storing your coins:

• Wallets. They are a kind of application, software that is installed on a computer. Cryptocurrency is a kind of code that will be recorded in the application (it is a very simplified outline). There are also online wallets, placed on different services, but you’d better utilize only cold ones, downloaded from the official website of the cryptocurrency developers.
• Accounts on crypto exchanges. An investor is registered and verified on an exchange and tops up the deposit, depending on the options, available on the exchange. For example, you can just transfer Fiat money from your credit card to the banking details, provided by the exchange. Or, you first transfer it to a digital wallet (WebMoney, Perfect Money etc.), and from the wallet, you transfer it to credit card or cash out via a currency exchange store.

How you can withdraw Bitcoins:

• Transfer it from exchange to wallet;
• Transfer it from exchange or wallet to credit card via exchanger;
• Transfer it to card through the exchange;
• Transfer it from the exchange or a cold wallet to an account in digital payment systems.

How to transfer Bitcoins to Blockchain Bitcoin Wallet

Blockchain (Bitcoin Wallet) is a Bitcoin wallet, proved by time, that allows storing Bitcoins outside the exchange, on your desktop or a mobile gadget. The first step is creating the wallet:

• go to the official website of the wallet, blockchain.com;
• select the operating system, you are going to install application to;
• click “Create new Blockchain wallet”, enter your email address and the password.

You now have the wallet. I’ll describe how to transfer your Bitcoins to the Blockchain wallet on the Exmo example:

Transfer Bitcoins To Bank Account

• Convert all the cryptocurrencies, you hold on the exchange, into Bitcoins
• In the section “Wallet”, by BTC, click “Withdraw”, fill in all the forms, entering your wallet address.

Exmo and other exchanges also provide withdrawing the money to digital wallets or directly to a cash card. For example, before you transfer Bitcoins to the bank card, you need to exchange them into U.S. dollars or the currency you need; next, you choose the withdraw method, Visa/MasterCard, and enter the card information. After the transaction has been formed, you’ll receive the confirmation email. The money will be transferred to your card in the period from a few hours to three days since the confirmation.

How to transfer Bitcoins from the Blockchain wallet (Bitcoin Wallet) to the card via exchanger

You can cash out cryptocurrency from the cold wallet with any e-currency exchanger; there are a few hundreds of them. That matter is how to avoid scammers and reduce commission costs. I suggest you use the monitoring website bestchange.com. It provides a list of reliable exchangers with the comments by real investors.

How you withdraw BTC to the card:

• On the left panel, you select a cryptocurrency to withdraw and a particular direction: Visa/MasterCard, QIWI, etc. On the left panel, there will be the list of exchangers that support the transaction.
• On the exchanger website, you check the reserve available (if you exchange BTC fro another cryptocurrency) and study the FAQ section.
• You select the exchanger, based on the following parameters: commission fees and exchange rates, official ranking of the exchanger wallet (BL - for WebMoney, TS - for Perfect Money), the mode of exchange (manual, semi-automatic, automatic), and go the website of the exchanger.
• You must register on the site. Next, you enter the account number or the card number, the money is to be transferred to.

The transaction speed is different. A fast or instant transaction is considered to be within 10-15 minutes; but it may take a few days. By the way, this monitoring provides withdrawing money through exchangers directly from EXMO, avoiding wallets.

How to transfer Bitcoin to a cash card, Visa, MasterCard, and digital wallets

The most common E-wallets are: WebMoney, Qiwi, Perfect Money. You transfer cryptocurrency to e-wallets in the same way as to cold wallets or cards. The differences are whether you need verification at the moment of withdrawing or not, the commission amount and whether an exchange (or exchanger) provides it. The same is with cash cards. On the website of an exchange or exchanger, you select the corresponding option and enter the banking information.

Conclusion. All these methods are quite easy. When you have just learnt about the schemes of the money transfers, you may be confused; but exchanges, exchangers and wallets provide a clear interface, simple, intuitive navigation and instructions for converting. And the general scheme of cryptocurrency withdrawing has been described in the article. But there are still some difficulties, you will sort out after some practice:

Can You Withdraw Bitcoin From Etoro

1. The more mediators are in the network the higher the risk is to lose your money:

• Before you transfer the cryptocurrency from the Bitcoin wallet, find out, whether it is available in the payment system itself. For example, PayPal often blocks any transactions in cryptocurrencies. At best, the payment won’t be transferred to the card; at worst, the entire account will be blocked.
• Check the reliability of the exchangers, you work with. Scammers often pretend to be exchange services. Investors transfer the money, but they don’t get Fiat for various reasons. It can be the topic of a separate article, how to choose the right exchanger.
• Remember, that crypto exchanges’ accounts can be hacked, or there can be a network failure. And there is nobody to address; there are no courts, regulators or ombudspeople in the cryptocurrency world.

2. The more there are mediators, the more commission fees are. Wallets, exchanges and exchangers work with a certain number of partners. For example, to transfer the money to the card, you may need a chain, like “Exchange- Exchanger A - Exchanger B”. There is often a problem of not how to withdraw Bitcoins from a wallet, but how to do it with minimum risks and costs.

A far more convenient alternative is trading cryptocurrencies in Forex. Brokers usually provide over 12-15 methods to withdraw the money without any side intermediates. Even though, brokers don’t provide withdrawing real cryptocurrency to the wallet, this option is still more reliable and less costly, in terms of commission fees. I suggest you study it in more detail, reading the terms for trading major cryptocurrency pairs on LiteForex website. Crypto exchanges, wallets or Forex: what would you chose for investment?

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

• Do you HODL bitcoins?
• Are you looking to cash out your bitcoins?

Well, if these questions resonate with you, then you are in the right place.

I believe some of you want to sell their bitcoins because of one of these reasons:

• You have now lost interest in Bitcoin.
• Or you think you have made enough returns out of your Bitcoin investment.

In any case, you just want to convert your BTC into cash either to realize profits or free up your stuck capital.

However, whatever your reason might be, I understand your stand as one might sometime feel the need for extra capital or would like to realize profits.

That’s why I think it is important to talk about the questions that come up while converting BTC into cash so that you don’t hit a road:

• How to get USD, EUR or GBP for Bitcoin?
• Where to cash out Bitcoin?
• Where to convert Bitcoin into fiat like USD, EUR, GBP, etc?
• How To Withdraw Bitcoins To Cash?

Bitcoin To Cash: How & Where To Convert Bitcoin Into Cash USD, EUR, GBP

So some of the exchanges that allow you to do so are:

These exchanges will help you cover most of Europe, the US, and the UK. Cashing out Bitcoin isn’t easy at it looks but for you we have found out some of the best ways through which you can convert your bitcoins into cash.

But before we get into the specifics of that, you need to decide how do you want your cash?

Do you want it in your bank account or you want the hard cash by meeting someone in person.

Or do you want to have other stuff in exchange for your bitcoins like gift cards or Amazon products from Purse.io?

For now, assuming that you want the cash in your hand or your bank account, let’s get started:

How & Where To Exchange Bitcoin For (or to) Real Cash Money Like US Dollars (USD), Pound Sterling (GBP), Euro (EUR), etc?

#1. Convert Bitcoin Into Cash Through A Fiat Supporting Exchange

It is highly likely that if you don’t have Bitcoin ATMs near you, you will be having fiat accepting Bitcoin exchanges in your country.

Using these exchanges, you can easily convert your bitcoins into cash like USD, EUR, or GBP. Of course, for this, you will be required to find such an exchange that deals in fiat and cryptocurrencies both.

You will also need to complete your KYC on such exchanges before you can exchange BTC to cash because fiat currency laws in most countries want exchanges to adhere to this policy.

Of course, I understand that I have not listed all the countries here but in reality, not all countries have such fiat linked cryptocurrency exchanges.

So for residents of those countries, I will be listing another method through which they can meet Bitcoin buyers/sellers in their country to cash out their bitcoins.

#2. Meet & Trade In-Person To Get Cash Through LocalBitcoins

For those BTC holders who have neither crypto exchanges nor Bitcoin ATMs in their country can exchange BTC for cash through LocalBitcoins.

LocalBitcoins is a peer to peer Bitcoin exchange service based out of Finland. LocalBitcoins is an escrowed service that has garnered quite a bit reputation since 2012 as the most liquid P2P Bitcoin exchange.

On LocalBitcoins you will a no-ground network of Bitcoin buyers and sellers in 16537 cities and 248 countries including your country too.

It gets better:

Through LocalBitcoins, you can meet the buyers and sellers in-person to negotiate and execute a Bitcoin trade. Moreover, when you are cashing out BTC you have a lot many options to receive your cash ( SEPA Transfer, bank deposit, PayPal, Payoneer, cash).

Getting started with LocalBitcoins is also easy as it only takes your email ID to begin with. After which you can explore the simple and intuitive UI of LocalBitcoins to filter out relevant buy/sell deals for yourself.

Note: Be sure to check the reputation of the buyer/seller before you decide to pick up a deal on LocalBitcoins and never release your bitcoins without confirming your payment receipt.

And just when I am completing this, I am realizing that there might be another category of Bitcoiners who would be thinking to cash out Bitcoin to short it and buy back when the price is lower.

For those kinds of Bitcoin users converting Bitcoin into cash might not be the ideal thing and that’s why such types of users prefer converting Bitcoin to USDT like stablecoins.

And hence I am sharing a bonus method just to do the same.

#3. Convert Bitcoin To USDT or Stablecoin like TUSD etc

Anyone who wants to cash Bitcoin and not get into KYC like things can do so by cashing out in fiat digital currencies, i.e., Stablecoins like USDT, TUSD, etc.

Here are some of the popular exchanges that will let your convert BTC to USDT or similar stablecoins:

• Binance: Supported pairs are BTC/USDT, TUSD/BTC
• BitBay: Supported pairs are XMR/BTC
• Huobi: Supported pairs are BTC/USDT
• Gate.io: Supported pairs are BTC/USDT

This method will reduce your headache of dealing with KYC and other banking problems which you might run into when trying to cash out your bitcoins through fiat linked crypto exchanges.

*****4. Bonus: Cashout Bitcoins Through A Bitcoin ATM

One of the easiest ways to convert Bitcoin to cash is through Bitcoin ATMs.

Can You Withdraw Bitcoin From Robinhood

For those of you who don’t know about Bitcoin ATMs, here is a simple explanation of it:

Bitcoin ATMs are much like traditional exchanges from where you can either get cash for Bitcoin, or you can get Bitcoin for cash. This method is usually anonymous and requires you to have a Bitcoin wallet in case you are receiving Bitcoin or selling it.

A Bitcoin ATM asks you to scan its public address, and when you have transferred BTCs to that address, it splits out equivalent fiat.

For this, you first need to make sure that you have a Bitcoin ATM nearby and that you can do it through the Coin ATM Radar service.

Using Coin ATM Radar, you can find out nearby Bitcoin ATMs and check its exchange rates as well as transaction fees. For example, this Bitcoin ATM in Chicoutimi at Place du Royaume has these specs:

• ATM Type: Genesis Coin
• Direction: Fiat ⇄ Crypto
• Fees: Buy 13.0%, Sell 16.9% from BitcoinAverage Fees updated: 12 minutes ago.
• Limits: Buy: $10000/txn, Sell: $2900/txn

So this is how you can get fiat for Bitcoin through a Bitcoin ATM.

But just after writing this, I realized that not everyone would be able to find Bitcoin ATMs nearby.

That’s because there are only a few Bitcoin ATMs around the world as of now and that brings me to my next section which is a much easier way to convert BTC to fiat if you don’t have ATMs nearby you.

Conclusion: How To Convert Bitcoins to cash

These are some of the best methods that you can use to cash out your bitcoins for fiat currencies like USD, EUR, CNY, or GBP.

However, I understand that many countries are still left untouched by the methods I have listed above and to name a few such as Australia, Zimbabwe, Argentina, etc.

For these countries and other left-out countries, TheMoneyMongers plans to bring a comprehensive list of resources using which they will be able to buy/sell Bitcoin in their respective countries.

We intend to start first with first and second world countries such as listed below. After which we will finally make our way for third world countries, who actually need Bitcoin the most.

Can You Withdraw Bitcoin Into A Prepaid Card

• The USA
• India
• Europe
• Australia
• China
• Japan

So untill we do so, I want to leave you with answers of few frequently asked questions (FAQs) to help you relax in order to exchange your bitcoins to cash:

Can You Withdraw Bitcoin For Cash

Q1) Can You Exchange Bitcoin for US Dollars (USD), Pound Sterling (GBP), Euro (EUR), CAD, etc?

Yes, you can very well exchange Bitcoin for various fiat currencies like USD, GBP, or EUR. There are more fiat currencies to which you can convert according to the country where you are residing.

Q2) How To Convert Bitcoins To Cash Anonymously?

This part is a bit tricky as there aren’t many services that you can use to convert BTC to cash anonymously. But you can definitely try LocalBitcoins with an alias name and identity to meet someone in person to exchange BTC to cash

So that’s all from our side in this round-up and I hope you liked this? If you did !! Do share it with your friends on social media who want to buy or sell Bitcoin !!

Note: Better than selling and cashing out your bitcoins, you can always take Bitcoin loans on your BTC holdings. Here is how you do that !!

Also, If you need some direction, feel free to contact us at @themoneymongers.

Contents

Can You Withdraw Bitcoin From Robinhood

• Bitcoin To Cash: How & Where To Convert Bitcoin Into Cash USD, EUR, GBP
  • Conclusion: How To Convert Bitcoins to cash