Aug 19, · Selling Bitcoins with a Bank Account Probably the most common method for selling your Bitcoins would be via a wire transfer or some other form of transfer to your bank account (e.g. SEPA, ACH, etc.). Almost all Bitcoin exchanges support this method, including Coinbase, gasthausamflughafen.de, and LocalBitcoins which I’ve reviewed before. Coinbase is the world's largest bitcoin broker. In the United States you can buy bitcoin with a connected bank account via ACH bank transfer. In Europe you can buy with your bank account via SEPA transfer. Purchases made with ACH take 5 days for the coins to be delivered, while SEPA purchases take less . The usual procedure would be to deposit the bitcoins into a bitcoin exchange, sell them there, and withdraw the cash to your bank account. You will have to identify yourself to the exchange, and the exchange must be able to send money to your bank.
Sell bitcoin bank transfer7 Ways to Withdraw Bitcoin to Bank Account - Cryptalker
After that it should give you the money whitout the processing charges. Bitcoins can not be withdrawn into a bank account directly. You can either sell them to somebody who then transfers money to your bank account, or you can sell them at an exchange and withdraw the funds from there. The first method may be quicker to set up but is a bit more risky. However, given the recent Bitfinex hack, having money at an exchange is not without risk either.
A few exchanges are listed here. These are online market places that buy and sell bitcoins. Most probably you'll need to create an account these accounts are used to trade on the site, it is not your bank account on these sites to trade. You can trade your bitcoins for any currency that is available on the site. If you need to convert to a currency that is not listed on the site, convert your bitcoins to a general currency like US Dollar or Euro and then use a normal forex market or bank to exchange it for the currency of your choice.
In Australia buying and selling Bitcoins is just a matter of using their site to find a reputable vendor. Often I'd be dealing with the same vendors on a regular basis. LBC has escrow, so it's just a matter of initiating the trade, and using bank details to fund a purchase or get funded for a sale.
Dealing with vendors that have the same bank usually means overnight; but trusted vendors can transfer or receive funds straight away in most instances. I've bought and sold bitcoins thousands of times over the years and never had an issue with being scammed.
Unfortunately it's currently not an easy thing to do, to go back and forth from cash to bitcoin. I still haven't figured out a good way either, only that the reason it seems to be so hard is because our governments have all these laws and regulations designed to keep us from easily doing this. So there's no great answer to this right now, but the typical responses would be circle. There are some sellers from marketplaces like LocalBitcoin paying from stolen Paypal accounts etc - if the offer is too good to be true there usually is a trick You can Google for "bitcoin to paypal exchange" which would carry the funds to your Paypal account and then you can again carry the funds to your bank account easily.
That's the best way. Sign up to join this community. The best answers are voted up and rise to the top. How can I sell bitcoins and transfer the funds to my bank account? Ask Question. Asked 7 years, 1 month ago. Active 1 year, 6 months ago. Choose Bitcoin as your currency of choice, and make sure the right destination is selected for your funds in the Deposit To section.
If you have a bank account connected to your account, you will be able to select it here for a direct transfer. Check your connected wallet to see how much Bitcoin you have, and choose the amount you want to sell. In , Coinbase raised its default limits for trading and started allowing people to trade their cryptocurrency immediately after buying it, which is one reason we are fans of the service.
You can see your weekly bank limit in the same section. Finally, choose if you want to repeat this sale, and if so, at what frequency. Then select Sell Bitcoin. There will be a short holding period before the sale is complete. Bitcoin has been going through a long period of devaluation and corrections lately , intermixed with slight recoveries. Some serious research may be required to decide when the best time to sell is for you.
In exchanges, Bitcoin automates trades between the two parties, but there is a different protocol for selling. When you sell, the transaction occurs directly between seller and buyer. You set up a sell order for a specific value, and when someone comes along looking to buy at the agreed-upon price, the site will alert you that you can move ahead with the transaction.
We may receive compensation when you use Bits of Gold. Please visit Bits of Gold for its exact pricing terms. It supports Bitcoin, Ethereum, Litecoin, Zcash and many other coins. It also offers unique features like copy trading. We may receive compensation when you use eToro. Please visit eToro for its exact pricing terms. You can buy bitcoins, ethereum and other coins with bank transfer. Coinbase is the world's largest bitcoin broker.
Coinbase charges a flat 1. Americans may add a Visa or Mastercard credit card to as a backup to unlock instant payments via bank transfer. We may receive compensation when you use Coinbase. Please visit Coinbase for its exact pricing terms. WazirX is a new Bitcoin and cryptocurrency exchange in India.
It's operated by Binance, one of the largest crypto exchanges in the world. We may receive compensation when you use Coinmama.
Please visit Coinmama for its exact pricing terms. We may receive compensation when you use CEX. Please visit CEX. We may receive compensation when you use Bitpanda.
Please visit Bitpanda for its exact pricing terms. We may receive compensation when you use Coinbase Pro. Please visit Coinbase Pro for its exact pricing terms. Kraken is the world's largest euro-denominated Bitcoin exchange based on daily average trading volume. Paymium is a Bitcoin exchange based in France; anyone in the country can get bitcoins with a bank transfer using Paymium. At first, only verification using a phone number is required.
Bitstamp is one of the world's largest Bitcoin exchanges. Almost anyone in the world can use their bank account to send a wire transfer to Bitstamp, although fees may apply. CoinCorner is a Bitcoin exchange based in the Isle of Man. We may receive compensation when you use CoinCorner. Please visit CoinCorner for its exact pricing terms. The benefits of using a bank account are fees. Bank account is usually the cheapest deposit method for buying coins.
Limits are also usually higher when using a bank account, assuming you have verified your account. The cons are speed. Bank transfers are slow in many countries, so bank transfer is often the slowest way to buy bitcoins.