Can I transfer bitcoins to my bank account? - page 7.

btcluisdiki

member

Activity: 448

Merit: 10

Quote from: bitfocus on January 12, 2018, 06:36:48 AM

No, you can transfer your Bitcoins to any exchange and sell them for cash and then withdraw that money to your Bank.

The standard procedure is to deposit bitcoins into the bitcoin exchange, sell the bitcoin there and extract the converted cash to your bank account. Identification is considered mandatory to the exchange and exchange must be able to dispatch money transfer to your bank.

bacobecce

copper member

Activity: 163

Merit: 0

Until now I have not found information from all over the world how to transfer bitcoin to a bank account. For now you have to trade it in a market that provides bitcoin exchange services into the prevailing currency in your country.

bitfocus

member

Activity: 532

Merit: 15

No, you can transfer your Bitcoins to any exchange and sell them for cash and then withdraw that money to your Bank.

cokkapaga

legendary

Activity: 867

Merit: 1000

bitcoin to the bank ? it depends in your the bank if your bank is support of bitcoin
but I never heard that any bank is support crypto or bitcoin at the moment. but you can sell your bitcoin to fiat money and transfer your money to your bank account.

CryptoClown

full member

Activity: 261

Merit: 100

Quote from: Oliver A on January 11, 2018, 05:14:37 AM

Can I transfer bitcoins to my bank account?

Bitcoin to Bitcoin? No. Because it isn't supported by banks yet. You'll need to use an exchanger where you can exchange your Bitcoin into your local currency then withdraw through your bank.

katarin2030

full member

Activity: 406

Merit: 100

It is not possible to transfer into bank account as bitcoin is a digital money, in the bank account we can keep only physical money in the sense fiat currency so bank will not accept the digital money to deposit in the banks. Exchange the crypto into fiat currency and then transfer to the Bank.

mondobitcoin

full member

Activity: 686

Merit: 100

Direct to a bank account no, only if your bank accept the bitcoin like a currency (and it is possible)
The other way is to exchange the bitcoin and get you preferred fiat currency (USD, EUR etc.)
You can try services like LocalBitcoin , that allow you to sell your bitcoin and receive the money with any of your local system payments

roadwell890

member

Activity: 490

Merit: 11

1. Transfer your bitcoin to a local exchanger receiving BTC pair with local currency
2. Withdraw your money with your local currency to a bank account

need to be light, BTC is not compatible with most conventional banks, so there must be an exchanger

Amilhussin24

member

Activity: 294

Merit: 11

You can only convert your btc to any currency, but be wise wait for a high price before you convert your btc. After that you can withraw and to trassfer it in any government bank. But in other country bitcoin is being used in everyday payment, they accept bitcoin. No need for them to transfer their btc.

BitcoinPanther

hero member

Activity: 1918

Merit: 564

I do not think there is a bank that accept bitcoin directly, so I guess you have to move your bitcoin to exchanges and convert them to fiat currency before depositing it to the bank. That is the normal process we have here unless there is some bank that accept bitcoin directly.

paolo099

full member

Activity: 224

Merit: 101

you have to go through an exchanger first to convert it into fiat, then you can transfer to your bank account.
First check which exchanger has the better fees and their policy, then just send your BTC to the exchanger wallet, sell and transfer, easy and "fast" (it could take up to one week to get money in your account).

zebii memon

newbie

Activity: 42

Merit: 0

you can easily transfer bitcoin to bank account some procedure occur to transfering money

MattCrypto43

newbie

Activity: 364

Merit: 0

Currently its not possible ... you can sell the bitcoin and take your money to your bank account anytime .. or you have to choose an exchange who make deposit on you bank account after selling btc ..

fulmetal08larz

full member

Activity: 476

Merit: 124

I have a friend who cashed out his BTC last week and transferred his funds from the exchange to his bank account directly, the bank got surprised of the amount transferred and called him immediately asking where his funds came from, my friend just told the bank that it was just a remittance from a relative abroad. The central bank here in our country is showing signs of partaking profits from crypto. You still need a middleman to transfer your BTC to fiat.

ninabobo

full member

Activity: 463

Merit: 100

Quote from: Oliver A on January 11, 2018, 05:14:37 AM

Can I transfer bitcoins to my bank account?

No, you have to go through the exchange. I'm confused with you, your rank member and you do not know about this kind of thing? then what do you do and you read in this forum?

darshansetty

member

Activity: 103

Merit: 10

Yes you can transfer you bitcoin to your bank account but there are some prissidure to be followed like you need to fill the form of personal details and then you need to convert it to usd and then local currency

dificanovi

full member

Activity: 840

Merit: 105

Buzz App - Spin wheel, farm rewards

Of course it can, because bitcoin can be converted into a real currency. we can exchange bitcoin into real currency on bitcoin.co.id and there are many sites where bitcoin is converted into real money.

menggay16

member

Activity: 112

Merit: 10

No.. you need to exchange first or if your local location site will accept bitcoin and they acctually doing convert from bitcoin to fiat money ang many site for remmitancess so you know what will you do. And if the transaction will be okay then go to your bank choice and transfer your funds to your bank account.

BitcoinSupremo

copper member

Activity: 1442

Merit: 529

Yes you can in some ways, I am telling how I do mine.

1. Upload funds from my wallet (Electrum) to Skrill (you should make an account in Skrill if you don't have any)
2. Once funds are uploaded(6 confirmations on bitcoin network), directly I click Withdraw to bank account and that's it.

Extremely easy I would say.

Bkjones

newbie

Activity: 34

Merit: 0

Hey i am bk jones

! As my opinion u can"t do withdraw just save your Bitcoin for future when the Bitcoin gone up then u have to withdraw because if u do now then u r in lose ,Anyways u want to withdraw then do with local bitcoin

Topic: Can I transfer bitcoins to my bank account? - page 7. (Read 768 times)