Can I transfer Bitcoin to my Bank Account?

Question

Is it possible in any way that I can transfer the bitcoin into my bank account? Can i actually transfer Bitcoin to my account? If so, how can it be done?

in progress 0
Adam Smith 3 months 1 Answer 131 views 0

Answer ( 1 )

  1. Summary: Although bitcoins can’t be directly withdrawn into a bank account. Either you can sell them to someone who can transfer the money to your bank account, or can sell bitcoins at an exchange and withdraw funds from there.

    There are a couple of ways to transfer bitcoins for fiat currency (like USD, Euro,etc)

    1) Directly trade with someone who wants to buy bitcoins using currency.
    2) Find an online exchange that would buy your bitcoins for some currency (mostly *USD).
    3) Most probably you’ll need to create an account (these accounts are used to trade on the site, it is not your bank account) on these sites to trade. You can trade your bitcoins for any currency that is available on the site. If you need to convert to a currency that is not listed on the site, convert your bitcoins to a general currency like US Dollar or Euro and then use a normal forex market or bank to exchange it for the currency of your choice.

Leave an answer

Browse
Browse

By asking your question, you agree to the terms of service and Privacy Policy.