How To Get Your Money Out Of Bitcoin
After rising from under $1,000 to almost $20,000 in the past year, Bitcoin crashed spectacularly this morning , dropping to as low as $11,000 per Bitcoin before rebounding to a little over $13,000. The news has plenty of cryptocurrency investors spooked . It even knocked popular digital currency exchange Coinbase offline temporarily due to an increase in activity. So if youre sitting on a pile of Bitcoin you may be thinking that its time to sell before things can get any worse. Heres a quick guide to your options, depending on how youve been storing your Bitcoin. If you kept your Bitcoin in the online exchange, then getting it out should be relatively easyassuming the site is back up and running soon. According to Coinbase , its a simple process that can be done in your web browser or with the official app. On the web, log in to your account and then head to the Sells page. Enter the amount of money you want to remove, the Wallet youre taking it from, and the account youre sending it to. Then confirm everything and hit Sell to finish the transaction. If youre using the app the process is pretty similar. Hit the menu icon in the top left corner and select Sell. Then fill out all the relevant details and confirm by tapping the Sell button. Its also worth noting that the process will differ slightly depending on where you send the money. On a separate support page , Coinbase states that transferring your cash to a bank account can take 4-5 business days. However, you also have the option to instantly send money to your Paypal account for smaller amounts. In some cases, Bitcoin may also require you to confirm your social security number and drivers license, along with other information, in order to prevent fraud. If you run into an issue and cant get your money out, your b Continue reading >>
How Can I Sell Bitcoins And Transfer The Funds To Bank My Account?
How can I sell bitcoins and transfer the funds to bank my account? A friend of mine gave me two bitcoins which I now want to sell. I don't understand the process which would enable me send the funds generated to my bank account. related: How do you obtain bitcoins? Murch Apr 20 '14 at 9:46 Thanks. Further question. If you use coinbase, for example, you need to provide bank account. Then, it is kind of defeating the purpose of using bitcoin for anonymity, isn't it? electro May 22 at 8:46 Buy some stuff for it. There are lists with vendors accepting bitcoins. erik May 22 at 16:59 Using bitcoin is reasonably anonymous. Converting bitcoin to cash is "using cash", which is not anonymous. Greg Hewgill May 22 at 20:28 You can exchange your bitcoins for US dollars on these websites and have them funded to your bank account. Also see bitcoincharts.com/markets . jorijnsmit Dec 24 '14 at 20:13 From what I have heard, Payza is now doing bitcoin, not sure how the service is, but may be worth mentioning. Ben P. Dorsi-Todaro Dec 25 '14 at 1:19 Is Coinbase reputable? There are an overwhelming number of repots of people claiming they stole their money. Also they require your bank account login password. Seems sketchy. spuder May 30 at 0:00 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. If there are Bitcoin ATMs in your country it should be as simple as goint to the ATM ask for a refound and transfer the Bitcoins to where the ATM asks for. After that it should give you the money (whitout the processing charges). Could you expand this? So I need to go in front of ATM with a mobile wallet a Continue reading >>
How Do I Cash Out Or Make A Withdrawal?
Once you complete a sale, you'll receive the money into your Cash Balance and be able to either withdraw into your bank account, PayPal account or Bitcoin wallet. To request a payout, follow the steps outlined below: Go to Menu > Wallet > Balance> Request Payout Click either PayPal, Bank Transfer or Bitcoin under "Payout Choices" and enter your information Enter the amount in the "Payout" sectionand press "Confirm Payout" Menu > Balance > Cash Balance > Available for Payout Bank Transfer (USA only) TEMPORARILY SHUT DOWN If this is the first time you are withdrawing money to your bank account, it may take up to 7 days to process. Afterwards, it will take 2 days. Please see Stripe's FAQ for more information. Bank transfers are only available in the US. If this is the first time you are withdrawing money to your PayPal account and do not see the money within 3 days. Please make sure your PayPal account is completely verified or you will not be able to receive your withdrawal. Please see PayPal's FAQ for more information . In order to be able to withdraw to Bitcoin, you'll first need to apply through Gameflip and be approved. Once approved, you'll be able to request a withdraw to Bitcoin. Please note that the payout for the withdraw request can take up to 4 days to be paid. As well as the Bitcoin exchange rate will be determined at the time of when the payout occurs, not when the withdraw request occurs. This means that depending on the exchange rate, you may receive more or less than expected at the time of withdraw request. Exchange rates are always converted from USD > BTC. Please see How to withdraw Bitcoinfor more information . Continue reading >>
Coinbase: Is It A Scam As Users Complain Of Withdrawal Issues? Coinbase: Is It A Scam?
Bitcoin continues to surge and at the time of writing is valued at 11,697. Signs suggest that it will continue to rise, but due to the volatility of the market it could equally take a drastic tumble. The cryptocurrency market is strong, growing and gaining global media attention. But what doesnt get talked about nearly as much is the platforms behind them, where people can actually buy the digital currencies. >See also: The best Bitcoin apps of 2017 Coinbase is one of the most popular and commonly used platforms to purchase either Bitcoin, Ethereum or Litecoin. It is used by thousands of people all over the world. But, is it a scam? Many users have complained that it is easy to deposit money, but when it comes to withdrawing funds, Coinbase is incredibly unhelpful to the point it simply doesnt work. In order to withdraw money from Coinbase it says that you have to verify your bank account by depositing money (any small amount over 6) via a SEPA transfer. Once the deposited money is available in your EURO Wallet it can then be withdrawn. But for a lot of people this is not the case. >See also: 3 ways chatbots can lure people into the world of Bitcoin On an internet forum , one user wrote, I got as far as sending a 6 euro deposit via SEPA to link my UK account, but that was nearly a week ago and I still get the message stating I need to add a payment method to withdraw funds. Trunkey, the user, is not alone and this issue persists for many Coinbase users who have invested money and made significant returns. Theyre a joke, wrote one user. Theyll happily accept a SEPA transfer for deposits but withdrawal using the same method somehow doesnt work, transfer elsewhere and sell on LBC. LBC stands for localbitcoins.com and is a supposed solution to the significant withdrawal is Continue reading >>
Binance 101: How To Deposit & Withdraw Bitcoins & Other Cryptocurrencies
As cryptocurrencies gain mainstream acceptance, it's not far-fetched to think that we'll one day be able to buy alt coins like Ripple (XRP) and Stellar (XLM) using debit cards and bank accounts. Until then, we'll have to rely on using bitcoins and ethereum to buy digital coins. Thankfully, depositing and withdrawing cryptocurrencies with Binance is relatively hassle-free. One of the advantages Binance has over other exchange sites like Poloniex is the fact that you can use Ethereum (ETH) as your base cryptocurrency in addition to Bitcoin (BTC). This means that you can deposit ETH directly into your Binance account and trade right away, as opposed to the clunky and time consuming method of converting to BTC before you can trade. We can't give you any magic formulas that'll guarantee instant wealth in terms of trading cryptocurrencies, but we can at least show you how to get your foot in the door by making deposits and withdrawals with the Binance app for iPhone or Android . So if you'd like to learn more about this simple process, keep on reading. Don't Miss: Send & Receive Bitcoins & Other Cryptocurrencies With Coinbase Before we begin, there's some very important tidbits you need to know about. First, always check that your wallet addresses for both deposits and withdrawals match up 100%, and make sure to select the right cryptocurrency. Any minor mistakes, such as a typo while inputting your wallet address or sending bitcoin cash (BCH/BCC) to a bitcoin (BTC) wallet will result in permanent loss of funds. Beyond that, there are some fees and fine print you need to be aware of. Deposits are free, but withdrawal fees vary by the type of cryptocurrency you're withdrawing. The fees are flat rates (per transaction), and they range in cost from the equivalent of roughly $1 Continue reading >>
How To Cash Out Bitcoin & Other Cryptocurrencies To Fiat
How to Cash Out Bitcoin & Other Cryptocurrencies to Fiat Daniel Dob on December 13, 2017 / 0 Comments During the last couple of years, the popularity of Bitcoin and other Cryptocurrencies has increased considerably, given the large trading volume, capital invested, public interest, and of course supply and demand laws. With Bitcoin seeing all time highs of over $17,00 at the time of writing ( 12th December 2017 ), chances are that you are considering the idea of either purchasing goods or withdrawing some of the coins that you might have. This is often where new users run into trouble, as there are multiple ways to go about this and people may worry about cashing out large sums of money and want to make sure everything is safe and secure. Therefore, in this article, we will cover three of the main methods that you can use to withdraw your bitcoin into Fiat currency (or your local cash). These have been generally referred to as the safest and least-costly methods of exchanging your digital currencies into your government-issued currency. Before we go on, we just wanted to clear up exactly what we mean when we say Fiat or Fiat Currency. Fiat is currency which is issued by a government but which is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on the faith and credit of the economy. Fiat is seen as risky because it suffers from inflation, when a government decided to print more of a Fiat currency, the value of everyones money goes down as a result. This is the exact opposite of what Cryptocurrencies aimed to solve. Cry Continue reading >>
How To Withdraw To Bitcoin?
Go to Menu > Wallet > Balance > Request Payout Click Bitcoin under "Payout Choices" and the "Apply new Bitcoin Payout" Make sure all information inputted is correct and accurate as you will not be able to change any information once approved. You'll need to enter your Bitcoin Address and Bitcoin Wallet Provider next.Warning: Youre responsible for entering your correct Bitcoin address. Incorrect Bitcoin address will result in loss of fund. Lastly, you'll need to complete the form below withyour full legal name, date of birth, ID number and a photo of the front and back of your ID (scanned IDs will not be accepted).Acceptable IDs include: Drivers license, passport or national ID card. The US anti-money laundering law requires us to collect and store account holder identity information for Bitcoin payout. Your identity information will only be used for processing Bitcoin payout and is encrypted on our server. Once you've filled out every field on the form, make sure to double check thatall information inputted is correct and accurate, then click "Submit Application". Please note that it may take several business days for us to process your application. Once your Bitcoin application has been approved, you'll be able to request a withdraw to Bitcoin from your Cash Balance. To request a withdraw, please follow the steps outlined below: Click Bitcoin under "Payout Choices" and enter yourBitcoin information Enter the amount in the "Payout" sectionand press "Confirm Payout" Once you've requested awithdraw, the request can take up to 4 days to be paid out. Bitcoin exchange rate will be determined at the time of when the payout occurs, NOT when the withdraw request occurs. This means that depending on the exchange rate, you may receive more or less than expected at the time of th Continue reading >>
How To Cash Out/sell Bitcoin For Fiat (usd, Eur, Etc.)
For cryptocurrency newcomers, one of the most common things they want to understand is how to cash out Bitcoin or withdraw from Bitcoins to fiat currency (USD, EUR, Etc.). Regardless of the reasons, a time may come where you want to turn your Bitcoin into government issued currency. So how exactly can you get fiat cash or dollars for your Bitcoin? How to Turn Bitcoin into USD or other Fiat Currencies When it comes to selling your Bitcoin, you essentially have two options. And although they both have their advantages and disadvantages both suffer from the same challenges such as lack of mass user awareness and unclear remediation processes. By far the most popular way of turning Bitcoin into fiat currency is through centralized exchanges such as Coinbase and Gemini . With sleek user interfaces and KYC (Know Your Customer) processes required as part of account creation, these exchanges will let you link your funding bank account for withdrawal making the process easy and painless. How to turn Bitcoin into USD through Coinbase So, you have your Coinbase wallet with your Bitcoin sitting in it and you are ready to send your funds back to your local bank account. Follow these steps: Navigate to the Buy / Sell section of your wallet After you are in the sell section of the wallet, you can select the wallet you wish to sell from and the bank account you wish to deposit to. Enter the amount of USD that you are wanting to get from selling your BTC. When you enter this amount of USD Coinbase will automatically calculate the amount of BTC it would cost to get that corresponding amount of USD. If you dont have the amount of Bitcoin in your wallet? Coinbase will notify you telling you to enter a new amount. Confirm the amount you wish to sell, take note of the fees (they will be sho Continue reading >>
How Do I Turn My Bitcoin Into Cash?
In the Philippines, Coins.ph providesthe fastest, easiest and safest way toturn Bitcoin into Philippine Pesos (PHP). 1. If you don't have one yet, start by signing up for a Coins.ph account. Coins.ph accounts are completely free -- signing up only takes a couple of minutes, and all you need is a valid email address. You'll need to sign in to place an order. 2.Go to the Cash Out page to place an order. 1) Method - Start by choosing how you'd like us to send your cash. You can cash out through a bank account or a number of other options, such as an instant cardless ATM Instant Payout, cash pick-up at over 10,000 remittance outlets, and door-to-door delivery. 2) Amount - Indicate the amount you wish to cash out. 3) Recipient - Provide necessary information about you or your recipient(e.g. bank account details, mobile number). 4) Payment - Choose how you want to pay for the order. We will then deposit your cash through the method you specified. Depending on when you placed your order and which method you chose, you will receive your funds between 5 minutes, 24 hours, or by next business day. Please note that in anticipation of potential increased activity and slower settlement time from financial institutions, we are adjusting our guaranteed bank cash-out estimates to three (3) business days for the duration of the 2017 holiday season. However, we will continue to make the same effort to process all transactions as fast as possible. Need help? Send us an email at [email protected] and we'd be happy to assist you withyour cash out order. Continue reading >>
5 Efficient Ways To Convert Your Bitcoins Into Cash
5 efficient ways to convert your bitcoins into cash As a form of digital currency, bitcoins exist only electronically all that you can see is records of transactions between different addresses. If you want to turn your bitcoins into real paper dollars that you can hold in your hands, there is just one solution you need to find a person or a service willing to make a deal. The demand for fast and simple Bitcoin exchanging services is increasing globally. The exchange rate depends on the free market dynamic, but you can use the CoinDesk Bitcoin Price Index for reference. There are 5 main ways of performing trade operations: This selling structure supposes that you need to interact with a potential buyer directly using an intermediary website to facilitate your connection for a certain fee. Basically, it works this way: you need to choose a suitable financial service, create a sellers account and complete your ID verification to start using your account. Some services may freeze your bitcoins when you post a sell offer to prevent fraudulentactivities. When you get paid, the website will transfer your cryptocurrency to the buyer. Coinbase. You can use this financial service to transfer your bitcoins for free. If you want to sell your digital currency, you will need to pay the service fee depending on what payout method you chose: 1%-2% for a U.S. bank account, 1% for a Coinbase USD wallet, and 3.75% for PayPal. BitBargain. As for this service, the application fee for sellers whose ID hasnt been verified yet is 0.005 BTC (or 0 BTC if the ID has been verified), the commission for trading operations is 1%. If you want to receive an SMS message, you will need to pay 0.0003 BTC, a banking verification procedure costs 0.02 BTC. If you want to sell your cryptocurrency directly a Continue reading >>
Coinbase | How Do I Sell Or "cash Out" My...
Select thewallet you wish to sell from (typically your BTC Wallet). Select the account you wish to deposit to (such as your linked bank account). Note: you may use the "SellMax" button to sell the entire balance of the selected wallet Confirm the order is correct and click Sell Bitcoin. Tap the menu icon near the top left of the screen to open the Navbar. Enter the amount in BTC or your local currency that you wish to sell. Select the bank account or currency walletyou wish todeposit into. After reviewing your order, tapSell bitcoin. Note that it is not currently possible to sell digital currency and have the proceeds send to a linked debit or credit card. Still can't find what you're looking for? Continue reading >>
How Do I Withdraw Money To My Bank Account?
How do I withdraw money to my bank account? How do I withdraw money to my bank account? How do I withdraw money to my bank account? If you wish to withdraw money from your Luno wallet to your bank account, you're in the right place. First things first: please make sure you have added your bank account details so we know where to send your money. Withdrawing money from Luno to your bank account Go to your WALLETS page by clicking it from the menu. Select your local currency wallet and click on WITHDRAW. From the withdrawal page, ensure that the correct bank account is selected and enter the amount you wish to withdraw. Enter the one-time pin from your Google Authenticator app (if enabled) and click on WITHDRAW. Note: Withdrawals to customer bank accounts are done every business day (not including weekends and public holidays). Some banks will clear the payments in a few hours. With others it can take up to two business days. Sadly this is out of our control. For more information about withdrawal cutoff and processing times, please see the withdrawal schedule . Continue reading >>
Cash App And Bitcoin Faq
How long does a transfer In Review take to process? Bitcoin is a type of digital currency that is created, bought and sold electronically. Bitcoin is a part of a currency category known as cryptocurrency, because it uses cryptography techniques to secure transactions. Square works diligently to keep you and your data secure. For your protection, payment information is encrypted and submitted to our servers securely, regardless of whether youre using a public or private Wi-Fi connection or a data service on your phone (such as 3G, 4G or EDGE). Cash App is also compliant with PCI Data Security Standard (PCI-DSS) Level 1. Learn more about security at Square. Buying and selling Bitcoin through the Cash App is currently available to all Cash users except those located in New York, Georgia, Wyoming or Hawaii. How much does buying and selling Bitcoin cost? While we dont add an additional percentage or fixed dollar amount onto your sale of Bitcoin, when you buy Bitcoin in the Cash App, the price we sell to or buy from you is calculated from the quoted mid-market price, inclusive of a margin, or spread. The mid-market price combines the price of Bitcoin currently selling across other major exchanges to give you the average price. A margin is the difference between the current price Bitcoin is being sold at and the current price Bitcoin is being bought at. Like any other financial market, this average price is not necessarily the price you are able to buy or sell at but is the basis for which we calculate our bids and offers to you. When you buy Bitcoin from Square, the margin may differ from when you sell Bitcoin to Square. The price and margin may also differ from what you see available on other marketplaces. Who actually holds my Bitcoins - me or Square? Square holds Bitcoin Continue reading >>
How To Convert Bitcoins To Dollars
Three Parts: Choosing a Conversion Service Signing up and Uploading Your Bitcoin Doing the Exchange Community Q&A Bitcoins have been heralded by many as the currency of tomorrow, but there are still few places that accept them. Fortunately, converting bitcoins to a usable currency like dollars is quick and easy. If you want to know how much bitcoin is worth, run a quick internet search on the subject. If you want to actually convert bitcoin to dollars, deposit them in a digital marketplace and sell them to an interested buyer. The digital marketplace will quickly and easily convert your bitcoins to dollars and transfer them to a debit card, bank account, or digital wallet of your choice. Compare the rates offered by different conversion services and choose the best one. Even when the average bitcoin conversion rate improves, different conversion services offer different conversion rates. For instance, suppose one service offers to convert your bitcoins at a rate of 1 to $5,000 and another offers to turn 1 bitcoin into $5,200. All other things being equal, you should go with the second service to get the most out of your bitcoins.  Convert your bitcoin using a service with low fees. Conversion services typically charge a fee for conversion. Sometimes there is a flat fee no matter how much you exchange, and sometimes the conversion service charges a percentage of the amount you exchange. Compare the fees associated with the various conversion services and select one that offers the best deal.  Service fees change over time, so be sure to check the services terms and fee schedule. Verify that the service youre using is safe. There are several ways to verify that a bitcoin conversion site is safe. One is to check reputable sources for reviews that verify the integrit Continue reading >>
Getting Started With Bitcoin In Cash App
You can buy and sell Bitcoin right from your Cash App. Bitcoin is a type of digital currency, that is created, bought and sold electronically. Bitcoin is a part of a currency category known as cryptocurrency, because it uses cryptography techniques to secure transactions. If you are new to Bitcoin or cryptocurrencies, you can more information about Cash App and Bitcoin in our FAQ. To make your first Bitcoin purchase, open your Cash App: Select Cash Card or the dollar amount at the top of your screen to access your Cash App balance. Swipe left, youll see the BTC symbol in the upper right-hand corner. Select Buy, use the slider to choose the amount youd like to purchase or swipe up to enter using a keyboard. Tap Buy BTC. Enter your Cash pin, or use your Touch ID if enabled, and select Confirm. Before you can purchase Bitcoin through Cash App youll need to have cash in your Cash App balance and you may need to enter some additional identification information. If this is your first time buying Bitcoin through Cash App, youll be asked to agree to Squares Additional Virtual Currency Terms of Service . Select Cash Card or the dollar amount at the top of your screen to access your Cash App balance. Swipe left, youll see the BTC symbol in the upper right hand corner. Select Sell and use the slider to choose the amount youd like to sell or swipe up to enter using a keyboard. Tap Sell BTC. Enter your Cash pin, or use your Touch ID if enabled, and select Confirm. How much does buying and selling Bitcoin cost? While we dont add an additional percentage or fixed dollar amount onto your sale of Bitcoin, when you buy Bitcoin in the Cash App, the price we sell to or buy from you is calculated from the quoted mid-market price, inclusive of a margin, or spread. The mid-market price combi Continue reading >>