How To Withdraw Bitcoin

Check if the funds are reflected in your bank account, if yes, click 'Payment received'. Then the bitcoins will be transferred to the buyer's bitcoin address. Thus, you can safely withdraw Bitcoin to a card or e-wallet using the LocalBitcoins platform. See also what are DASH trading brokers. 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.

This is one of the most popular questions that we see from users of our Bitcoin ATM kiosks. Can I withdraw my Bitcoin into cash at a Bitcoin ATM? Can I sell Bitcoin at a Bitcoin ATM, or can I only buy Bitcoin? The simple answer is YES! You can withdraw cash from a Coinsource Bitcoin ATM and many other operators. It’s fast and easy.

In summary:

  • Yes, you can convert your Bitcoin into cash at a Bitcoin ATM
  • Not all Bitcoin ATMs have the ability to sell crypto
  • To withdraw cash from a Bitcoin ATM, you must already have a wallet with Bitcoin in it, ready to be used.
  • Coinsource offers one of the lowest rates in the U.S. to turn Bitcoin into cash using a Bitcoin ATM

How to Withdraw Cash from a Bitcoin ATM

1. Create an Account

How

To use a Coinsource Bitcoin ATM, you first need to have an account with us. It’s easy, free, and quick to enroll with your mobile device.

2. Find a Bitcoin ATM Near You to Withdraw Cash

Second, once you have created your Coinsource account (or other account), you will need to locate a 2-way (buy and sell capability) Coinsource Bitcoin ATM near you. Using a different operator? CoinATMRadar has a complete listing of Bitcoin ATMs with crypto selling capabilities.

3. Have Your Wallet Address Ready to Convert Your Bitcoin to Cash

Because you are withdrawing cash, you need to already own Bitcoin and have your transactions stored in a wallet. Have the wallet address where your Bitcoin is stored available and ready.

Remember, this is your private key. If you have multiple wallets and/or multiple keys, select the one you want to use in this transaction.

4. Withdraw Cash from the 2-Way Bitcoin ATM

When you are at the 2-way kiosk, log in to your account on the Bitcoin ATM, and select the “Withdraw Cash” option. If the Bitcoin ATM you are using does not have this option available on the screen, it most likely does not have crypto selling capabilities. Make sure the location you are using has the ability to sell Bitcoin. Enter the amount of cash you wish to withdraw and send Bitcoin to the wallet address QR code indicated.

Final Notes

Once the transaction is confirmed on the blockchain network, you can collect your cash. This typically happens in under 30 minutes and this wait time is outside of the operator’s control.

All Bitcoin operators charge a fee for using the Bitcoin ATM to buy or sell Bitcoin. However, Coinsource has one of the lowest fees of all the Bitcoin ATM operators in the United States. This means that you’ll take home the most cash possible from the Bitcoin you are withdrawing!

NOTE: Not all Coinsource machines support two-way operations yet, and some of our kiosks only allow you to purchase Bitcoin or send cash to someone’s wallet. Be sure to find a 2-way Coinsource kiosk if you want to convert your Bitcoin into cash. Sign up today with Coinsource to withdraw your Bitcoin to cash!

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What are some ways to withdraw bitcoins? How to display bitcoins to a card or electronic wallets using the LocalBitcoins website? You will learn about this by reading our article.

Hello gentlemen, traders and cryptoinvestors! In the last article, we looked at the question in detail, how to buy Bitcoin for fiat money. Today we will examine the main ways of withdrawing bitcoins from a wallet and a cryptocurrency exchange, and also consider in detail one of the most popular ways to exchange cryptocurrency using the LocalBitcoins site.

See also rating of cryptocurrency brokers.

Basic Bitcoin Output Methods

Today, there are several current ways to output Bitcoin:

  1. Via e-wallets (PayPal, Neteller, Skrill, MoneyGram, Paxum, etc.). This is the easiest and fastest way to transfer bitcoins to a card. But it requires verification of your account, so if you want to remain anonymous, then you should choose another method. There may also be quite large commissions.
  2. Through cryptocurrency exchanges (Binance, Poloniex, Coinbase, BitMex, Bittrex). Not all cryptocurrency exchanges support this method, but it is one of the most reliable. Its essence is very simple, you need to transfer your bitcoins from a wallet or another exchange (which does not support this method) to the exchange, and order the withdrawal of bitcoins via a bank transfer. In order to avoid problems with money laundering, you must specify the same bank account from which you replenished your account on the exchange. If you have not done this yet, then replenish the account with a symbolic amount, and then order a withdrawal. Of the minuses: this method is the longest - it takes up to 5 business days to process the request and it is also not anonymous, but it has the lowest commissions.
  3. Through peer-to-peer exchange (LocalBitcoins). This method is suitable for those who wish to remain anonymous. One example of peer-to-peer exchange is LocalBitcoins. This is the platform on which sellers and buyers of bitcoins and other cryptocurrency meet. With the help of a convenient service, you can find a buyer and, on favorable terms, it is safe to sell your bitcoins to him.

See there are bitcoin brokers.

How to withdraw bitcoins via LocalBitcoins?

LocalBitcoins is a Finnish company that allows people to buy and sell bitcoins for local currency. Users who want to exchange their bitcoins for local currency advertise on the LocalBitcoins website, where currency rates and the method of payment for buying or selling bitcoins are mentioned. This site was created in 2012 and currently operates in almost all countries of the world. Thus, regardless of the geography in which you are located, you will be able to find buyers who are ready to buy bitcoin from you, and sellers who want to sell it. The most pleasant thing about this platform is that you can choose a payment method for withdrawal or receipt.

How To Withdraw Bitcoin From Binance

The following is a list of various payment methods available on the LocalBitcoins website:

  • AdvCash;
  • CashU;
  • Chase Quickpay;
  • Google Wallet;
  • Swift (International Translation);
  • Moneygram;
  • Neteller;
  • OKPay;
  • Paxum;
  • Payeer;
  • Payoneer;
  • PayPal;
  • Payza;
  • Perfect Money;
  • WebMoney;
  • Western Union;
  • Zelle;
  • Bank transfer;
  • Credit cards, etc.

You can also exchange your bitcoins for other large altcoins, such as Ripple, Litecoin and Ethereum.

You can choose the price at which you want to sell your bitcoins. If you want to sell your bitcoins through the LocalBitcoins website, you can create an ad and you will be charged a fee of 1% of the total transaction amount. But if you sell to a buyer who has already indicated the price he would like to pay, you do not need to pay a commission.

The best thing about this platform is the rating system. Like Amazon, buyers and sellers can rate each other and leave feedback. This will help you in choosing reliable buyers and sellers. We encourage you to make deals with those who have 100% good reviews, at least for the first few transactions you make on this site. You can remain anonymous on this platform. However, you can ask for an ID if you want to make a deal with a person for the first time without a rating or feedback.

See also what are Ethereum trading brokers .

Step by step procedure for withdrawing bitcoins through LocalBitcoins.com

Visit the website https://localbitcoins.com. We remind you that some countries have blocked access to the site for their citizens. You can find the official mirrors of the site on the social networks of LocalBitcoins in your region or use a VPN server.

You will need to create your account by clicking 'Register.'

Choose a username and strong password. You will then need to confirm your email address.

After logging in, click 'Sell Bitcoins' at the top of the page.

Enter the amount of money (for example, 1000) you want to receive with the appropriate currency (USD). Then you will need to select the country where you are located to find buyers from your region. In this example, we chose the United States. You can also choose a payment method. If you are not interested in the payment method, we recommend that you select “All online offers” to see the best price at which you can sell bitcoin. After that click 'Search'.

How To Withdraw Bitcoin Cash

As you can see below, there are many interested Bitcoin buyers in the selected country.

In the screenshot above, we see that the buyer has a 100% good rating and has already traded more than 1000 times on this platform. This means that the buyer is serious and trustworthy.

Double check the number of bitcoins you want to sell. Since in this case the cash payment method is used, please indicate your bank account number and the corresponding data. Then click 'Submit Request.'

The buyer will receive a notification that you are interested in selling your bitcoins. As soon as your sale request is accepted, you will need to send your bitcoins to the LocalBitcoins deposit account. This is an important service provided by this platform. By doing this, the buyer will not receive your bitcoins until they complete the payment. The buyer will contact you to inform that the payment has been completed. Check if the funds are reflected in your bank account, if yes, click 'Payment received'. Then the bitcoins will be transferred to the buyer's bitcoin address. Thus, you can safely withdraw Bitcoin to a card or e-wallet using the LocalBitcoins platform.

See also what are DASH trading brokers.

How To Withdraw Bitcoin From Paypal

Conclusions

For the first transactions that you make with this platform, it is best to follow the precautions using the most preferred payment method. But as soon as you gain more experience, you can experiment with various payment methods. So you can sell your bitcoins at a very competitive price by choosing a payment method. You can also customize the ads on this site to choose your own price and payment methods. Even if it costs you 1% commission, it’s worth it for the convenience you get. It is important to use the LocalBitcoins escrow service, and never send your bitcoins to the buyer until payment is received.

How To Withdraw Bitcoin Money

Now you know how to display bitcoins on a card and e-wallets quickly and safely. Good luck investing in cryptocurrency!

Read also the article “The best currency pairs on Forex”.