Transfer Bitcoin to Your Bank Account
Is it possible to transfer Bitcoin to your bank account? It’s the most common question that people frequently ask. The answer is yes, you can. Now, you might be wondering how much it will cost you to transfer Bitcoin to a bank account. You can get your funds in your bank account in a few minutes and without any charges.
Remember, the transactions are peer to peer, so you need to find someone who is willing to buy Bitcoin. Some platforms have an escrow policy to ensure that Bitcoin will be released when you get the payment in your bank account.
5 Top Ways to Transfer Bitcoin to Your Bank Account
Some options for transferring Bitcoin to bank account are given below
Coinbase
Undoubtedly, it’s the best trading platform that allows you to withdraw Bitcoin into your bank account, but unfortunately, the service is limited to the USA and UK. In the USA, the best way to transfer Bitcoin is ACH transfer. It will take five days. You can speed up the process for instant withdrawals by adding your Visa Debit Card or Master Card.
Europe’s residents can use the SEPA service to transfer money to bank accounts, and it will take two days. It’s the best platform because of the high buying and liquidity limits.
Binance
It’s another excellent platform for transferring Bitcoin to a bank account. You can use P2P transactions to get money to your bank account. There are other ways as well. These options differ from country to country. The good news is you’ll get funds in a few minutes once the transaction is made.
Bitstamp
It’s another valuable and reliable platform for withdrawal. Like the above two, it allows you to transfer Bitcoin to your bank account. They’re in this exchange business for a long time, so that you can trust them. Unfortunately, they charge high fees, so they’re best for high trading volumes. It’s an ideal platform for traders, and beginners need to think twice before using it.
Kraken
It’s a unique exchange because it offers withdrawal from Kraken via SEPA transfer and International Bank Transfer. They have proof of their audited fund reserves that make it a secure and trusted exchange. For bulk withdrawals, their trading fee is also low. The good news is everyone has to verify their identity to use this platform.
Bitpanda
The last one in our list of top exchanges for transferring Bitcoin to your bank account is Bitpanda. We have added this to our list because they offer multiple methods for withdrawals. The issue is they don’t tell how much they charge for transactions. They incorporate their fee in buying and selling price of Bitcoin. The supported withdrawal methods are SEPA, SOFORT, and online bank transfer.
So, if you live in the US and Europe, you can use it to make small withdrawals. We wouldn’t recommend it for large withdrawals because the transaction fee isn’t clear.
Visatk
You can also use this website visatk to transfer Bitcoin to your bank account for free.
Final Words
Now the days are gone when you have to worry about transferring Bitcoin to your bank account. You can use any of the methods mentioned above to transfer Bitcoin to your bank account.
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