How To Withdraw Bitcoin From Blockchain
One of the common questions we get from new users is how to withdraw Bitcoins. The good news is that it is much easier to withdrawal Bitcoins than any other cryptocurrency or even most Fiat currencies.
Thanks to its quick rise in popularity and great support from the cryptocurrency community, numerous platforms have come up to offer online and offline Bitcoin exchange services.
How to Sell Bitcoin & Withdraw on Blockchain.com 2020 January 11, 2021 admin Blockchain 0 In this video, I show you how to sell your bitcoin or other cryptocurrencies from your Blockchain account and how to withdraw your funds into your bank.
How To Withdraw Bitcoin From Blockchain
- But as you know expert suggest to sell off your coins, it is very speculative time to hold bitcoin. You can withdraw blockchain fund directly to your bank account, paypal account, payoneer card, western union international money transfer, moneygram funds wire, skrill neteller and more.
- Excited to go shopping with your hard earned Bitcoins but don't know how to cash them out? Today, Maria will show you the many different ways to cash out Bit.
- 1.2 How to withdraw bitcoins from the Blockchain wallet? 1.3 How to get private keys in a Blockchain wallet? 1.4 Blockchain wallet review; Blockchain wallet: What is it? Blockchain wallet is an online service for securely storing and exchanging cryptocurrencies. It was founded in 2011 by a Luxembourg-based company and was the first such project.
Some of those exchange platforms are very secure, while others are not so secure. Overall, we recommend those Bitcoin exchanges that charge a small fee in exchange for their escrow service.
As you may expect, an escrow service gives you some level of control. The person helping you to withdraw your Bitcoins must proof that they sent you the Fiat funds in exchange for you Bitcoins.
In that regard, you must ensure that name, account number, and addresses you provide on the platform match those you give the sender. The exchange platforms use that information in their arbitration, which ensures that no one is abusing the system.
In that regard, let us look at how you can easily withdraw your Bitcoins around the world.
1. Withdrawing Bitcoin Online
The Cashing out Online method requires the Bitcoin seller to directly interact with the potential buyer. An intermediary website facilitates this connection for a set fee.
In simple terms, you’ll need to select an ideal financial service, come up with a seller’s account and then complete your ID verification for you to start using the platform’s account.
Your bitcoins may be transferred to an escrow when you post an order to prevent any fraudulent activities. However, the moment you are paid, the site will transfer your bitcoins to the buyer.
Coinbase
Coinbase is a financial service that lets you transfer bitcoins free. However, when selling your digital currency, you’ll need to pay a small service fee, which depends on the payment method you select. The service fees are 3.75% for PayPal, 1% for Coinbase’s USD wallet, and 1%-2% for a U.S. bank account.
How To Code Blockchain
BitBargain
You will pay 0.005 BTC as the application fee if your ID is not verified and 0 BTC if your ID is already verified with BitBargain. You also need to part with a trading commission of 1%, a 0.0003 BTC if you want to receive an SMS message, and a 0.02 BTC for a banking verification procedure.
2. Withdraw Bitcoin on Trading Exchanges
If you do not want to use a peer-to-peer exchange, then go for a trading platform that combines the features of Bitcoin exchanges and Forex trading. You will have to open an account, state the Bitcoins you want to sell or buy, and price. When a matching purchase or sell order is found, the exchange service will complete your transaction.
Bitfinex
Bitfinex supports several currencies including Bitcoin, ethers and litecoins. It offers users 6 order types for various kinds of trading, margin funding, and exchange operations. Their trading fee ranges from 0.10% to 0.20%. It charges a 0.100% bank wire fee and a $20 minimal fee. On the hand, users are charged a 1.000% express bank wire fee and a $20 minimal fee.
Kraken
Kraken lets you trade bitcoins for USD, EUR, JPY, GBP and CAD. Their trading fees range from 0.10% to 0.35%. The fees vary according to the quoted currency volume. You will also need to pay a processing fee of $60 for every page of your communication’s paper copies. Their bank wire transfer fee is $5, which makes it ideal for bulk withdrawals only.
3. Cashing Out Bitcoin Offline
Some people prefer selling their bitcoins directly, meaning they avoid paying cash withdrawal and service fees. This process needs you to meet with a potential buyer in a public place or meeting point. There are financial services that will automatically detect your exact location and provide you with actual offers within that region.
Mycelium
If you’re searching for buyers locally, Mycelium is one popular site that will help you find them. It lets you check the reputation of the potential buyer, giving the ability to choose honest ones. You can then discuss the meeting location and time through the chat option.
Once you receive the payment from the sale of your bitcoins, you must confirm receiving payment in your account, enabling the service to complete the transaction.
LocalBitcoins
Among the leading services that connect sellers and buyers in-person and online is LocalBitcoins. The seller needs to open a bitcoin wallet and proceed to mark that you’re selling bitcoins. The seller needs to be specific on their offer’s details such as location and amount.
This site allows buyers and sellers to rate each other. Therefore, sellers can check the potential buyer’s reputation in advance. The LocalBitcoins service fee is 0.00005 Bitcoins, which is why it is the best for small and bulk transactions.
You may also choose to look for potential buyers on bitcoin conferences or cryptocurrency forums, but remember it can be dangerous. You may lose all your money since you can’t know the buyer’s reputation.
4. Electronic Payment Systems
Some users prefer performing all the converting and withdrawing operations by themselves using an electronic payment system that’s multi-functional. For instance, one can open a bitcoin account and then withdrawal their money using a prepaid debit card or a wire transfer.
Such platforms help you to avoid dealing with seller directly or pay their fees. Some systems can convert your account balance to EUR or USD automatically, while others allow the storing of Cryptocurrencies.
Woldcore.eu
Woldcore.eu is one electronic payment system, which saves you money and time. Users can open an individual EUR or USD account and then fund it using e-currencies. This service does not charge users opening account fees or maintenance fees.
However, you will have to pay 3-4.75% for the transfer of electronic currencies. You will need to apply for a Worldcore Ultimate MasterCard, which will cost you $20. Their ATM withdrawal limit per day is $4,000.
5. Cryptocurrency Converters
Another way to withdrawal your bitcoins is by using an exchange service. It allows you to convert digital money into hard currencies such as USD, EUR, and other currencies. The user will need to select the type of e-currency he or she has, its amount and the type of currency you want it to be converted to.
When you complete the transaction, you can withdraw your cash at ATMs using your pre-paid debit card got from one of the website’s partner services.
You need to know the date that the website you’re using was created to avoid losing money to fraudsters. Check its ratings, user reviews, and the amount of reserve available for your marked conversion pairs. Generally, older sites are more reliable since they have users’ trust.
This information can be found on special aggregators, which sort electronic currency services according to some particular parameters such as testimonials and exchange rates. The information usually arranged in a type of dynamically arranged chart.
One of them is Magnetic-money.org, which lets you find the best exchange rate from many popular converters. Sellers can also see the rating and reserve of every offered website and determine its reputation and reliability.
Okchanger.com
Okchanger.com is an exchange monitor, which lets you compare the exchange rates for your bitcoins. You can read reviews from previous users and check their currency reserve. Reputable partners are marked with a unique “thumb up” symbol. This service also provides additional information such as its popular directions for the past 30 days and the chosen exchange service’s audience location.
BestChange.com
BestChange.com compares the exchange rates of several popular cryptocurrency converters. Users can check their statistics section and analyze real fintech market trends for the last 365 days. They then use that information to sell their Bitcoins to Buyer paying the best price.
Withdraw Your Bitcoins or Spend Them Online
There are many places that you can withdraw them at a reasonable fee, whether you are withdrawing just a few Bitcoins or making a Bulk Withdrawal. All you need is to find the best service that suits your needs, and is safe and secure. On the other hand, many merchants are now accepting Bitcoin, so you still can spend some of it online.
After all, there is no point of incurring Bitcoin withdrawal fees and paying some more fees to card processors when shopping online. Most online merchants do not charge any fees for accepting Bitcoin payments. We hope you found this Bitcoin withdrawal guide to be informative, and you initiate your withdrawal shortly.