Can I transfer bitcoins to my bank account?

Skyshark

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Quote from: Oliver A on January 11, 2018, 06:14:37 AM

Can I transfer bitcoins to my bank account?

Yes you can, as long as the banks in your state is accepting bitcoin, if not, there are exchanges and local wallets that can convert bitcoin or other cryptocurrencies to your local currency, then, when you have converted your coins to your local currency then you could now cash it out on ATMs or even banks.

pekavcilar01

newbie

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You can not send it directly to the bank account.
Each country has certain sites. You can do it through them. If the banks know, coins can be directly transferred. This will happen soon. Cool

mahilchii

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Yep, you can. There are exchanges available for that and your wallet itself has option I think but you haven't mentioned which wallet you use. Coinbase wallet is used by me and I can transfer bitcoin to bank account, still you may have restriction in your country and each country has it's acceptance and non acceptance policy for bitcoin conversion as fiat through exchanges.

clubchain

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Should not be possible, there is no bitcoin's exclusive bank account right now? At least I have not found it yet.

qtypatuty

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Transferring of bitcoin directly to a bank account could not be done. Banks do not accept bitcoin. However, you could convert your bitcoin into a fiat currency. That's only the time where you could deposit or transfer your balance into your bank account.

adsadsx

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Quote from: peterthegreat on January 31, 2018, 04:37:15 PM

You need to sell your bitcoins to get cash for your bank account.

The account you receive bitcoin is your own bitcoin wallet address, not the same as you created multiple bitcoin addresses. You send the bitcoin from the address where you received the bitcoin to your original bitcoin wallet address.

amih

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from a local bitcoin wallet site I use all I can do is redeem the bitcoin I have on the bursapertung section to convert to USD. then I can transfer my money my bank account number. but if you have not done bitcoin exchange to USD it can not be done to transfer bitcoin bank account number I have because my country has not exist from the bank that received a transfer by using bitcoin method. I hope someday there will be a bank that will adopt bitcoin so I can keep my bitcoin assets in the bank I think it will be safer.

jonas5222000

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Student Coin

Yes, it possible you can transfer your bitcoin because now there are so many exchanger that can transfer and convert your bitcoin ,

Emerge

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A direct transfer is not possibile. You can change bitcoin into fiat and then in your bank acount. Maybe in future it will be possible.

ArnoldChippy

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Quote from: Zyborg on January 31, 2018, 03:23:25 PM

No right now its not posssible,BTC is digital currency.Bank accept fiat money.First you have to convert your BTC to cash and then you can able to make this transaction.For this purpose you can sell your BTC to your friends,colleagues,relatives or you can make account on Local BTC and there you can sell your BTC and in this way you bank account receive cash into your account.Right now this is the only way.However if in future banks start accepting BTC in their circles then this will be possible...

Yes in current time it may not be possible but in future we can expect to use bank for our bitcoin transaction. In fact banks cannot accept bitcoin until government will accept bitcoin as legal currency, and only then banks will take a possible step toward bitcoin to accept bitcoin for deposit and transaction purposes, in future we can expect that a time will come when bitcoin will become legal currency throughout the world and then banks will also start accepting bitcoin for transaction and to deposit it.

peterthegreat

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Presale is live!

You need to sell your bitcoins to get cash for your bank account.

Anwar22

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Quote from: Oliver A on January 11, 2018, 06:14:37 AM

Can I transfer bitcoins to my bank account?

As far as I know that it's impossible because they don't have bitcoin wallet. If you transfer your bitcoin you can sell your bitcoin then you can deposit that money.

godblessyou12

newbie

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what is the process on how to cwith via unionbank account

dlhylton

newbie

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No banks currently support fiat. They do not have bitcoin wallets. Therefore, you have to exchange your bitcoin to fiat and then transfer it to your bank account. If you want to store bitcoin, you need software that utilizes a bitcoin wallet. Usually you would want this online, since it's less susceptible to hacks. Storing your cryptos online is a little more dangerous.

cmaxwell

newbie

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no you cant transfer bitcoins to your Bank account but you can buy and sell bitcoin with the currency in circulation. we dont know what the future holds but technology can advance to that level when you can but or sell with bitcoin and you can also operate your account with bitcoin.

proTECH77

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Bisq Market Day - March 20th 2023

I don't know if this is possible in other countries. But in mine, it is not possible to transfer bitcoin or any other crypto to a bank account. If this has to be done, the bitcoin will be first converted through a local exchanger into the countries' local money before it can be deposited into the bank account.

weblaraveluser

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Quote from: Oliver A on January 11, 2018, 06:14:37 AM

Can I transfer bitcoins to my bank account?

The answer will be depending on your country. You can exchange bitcoins into fiat before passing into a bank account or if your government has legalize cryptocurrency then there might be a faster wait to convert your coins to fiat.

Zyborg

sr. member

Activity: 476

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No right now its not posssible,BTC is digital currency.Bank accept fiat money.First you have to convert your BTC to cash and then you can able to make this transaction.For this purpose you can sell your BTC to your friends,colleagues,relatives or you can make account on Local BTC and there you can sell your BTC and in this way you bank account receive cash into your account.Right now this is the only way.However if in future banks start accepting BTC in their circles then this will be possible...

Rupok

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No, you can not transfer Bitcoin to your bank account.Bitcoin has not yet recognized any bank. Because Bitcoin is completely illegal. You can make it online through various exchanges in USD doller and you can withdraw money.

ThishD

newbie

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Directly you can not do that.Some Country's Bitcoin is not using and they will not give the access for transfer bitcoin to your bank account.But there are more easy ways to convert your bitcoin to fiat money.You can use cex.io to transfer bitcoin.But there Service Charges are Expensive.You can convert your bitcoin to fiat money by trusted Bitcoin Sellers.That's the most easy way to transfer your bitcoin to fiat Currency.

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