Bitcoin Forum

Is it possible to withdraw bitcoins to bank account

Not directly, you need to transfer the bitcoin to your local currency first. You can do this with an online exchange service. Tell me what currency u need, and I can tell you an good exchange.

No banks are accepting bitcoins. And that will never gonna happen. First you need to convert it into cash and deposit it to your bank account. Thats what i do. I usually using a local bitcoin wallet which has a lot of options to cashout your btc. First you need to convert your btc into cash and then you can now deposit it to your account.

Technically it has to be converted in your fiat first and you can withdraw it in your bank if you found a local exchanger. You can withdraw btv directly to  a bitcoin devit card tho.
You can see a list of where you can get yourself a bitcoin devit card here: https://bitcointalk.org/index.php?topic=1242788.0
EDIT: additionally these debit cards can be used to withdraw in any atm banks.

This is correct since bank dont accept bitcoin directly and like in my local bitcoin wallet provider there is a feature on which you could directly convert your bitcoin to fiat then transfer it to your bank account or card.Bitcoin debit card is also an good option too as jacee mentioned the link which is very helpful.

Where do you live? Coinbase is great for bank deposits.

A bank account holds fiat currency and not bitcoins.
You can convert bitcoins for fiat currency and then deposit the fiat currency in your bank account.

In India there a a few OTC exchanges where you can sell bitcoins for Fiat currency withdraw the fiat currency to bank account.

Yes o fcourse you can do that.

You must find good exchanges - for me the best is Coinbase!

It is possible but be sure to convert first  your bitcoins into fiat or cash ,before you can transfer  it to your bank account. Theres no direct way of transfering bitcoins to bank account iy should be converted first.

Yes you can do it bro, but the first thing you should found exchanges which support your bank account
In my case i found exchanges support my bank account and the process only few minutes the cash will be on your bank account

I guess, yes you can withdraw it but you should convert it to your currency and like what we have here in our country there are banks that supports the online wallet that we have

All answers are the same ,you should convert your bitcoins into cash or fiat so that you can able to transfer it in your bank account..if you dont have any questions  you can now lock this thread. Cause the following replies will be the same too.

No you can't, if you want to convert it to fiat it would be thru exchange and they will cater your need whether you want to transfer the money directly to a bank account or to where you want the money to go...

Or you can sell it directly to a buyer and they transfer money to your account and you transfer your bitcoin to their wallet...

Not sure on this but check out fidorbank.  They are an online bank that do something with bitcoin.  Im not sure if they just convert BTC to fiat or they hold BTC as BTC.

Thanks for all the replies..!! It was very helpful..!! will surely revert back i have any other queries..

It would be just easier to transfer to a bitcoin debit card then withdraw from atm at the bank and do what you want with the fiat with your bank.
Just be prepared to pay fees when withdrawing using those banks including the bank's fee on top of that.

No Banks support direct withdrawal. It is possible to trade the bitcoin to traders who support transfer of amount to bank accounts. In this way bitcoins can be converted and saved into bank accounts without much difficulty. Importantly finding a trusted trader or legit trading service provider helps the best.

Btc cards fine way to taken out as the fiat cash but the charges for the debit cards usage and monthly maintenance are too heavy like banks. I could say better you could trade the bitcoin with the escrow to the  fine traders available in your location. That would be most profitable then this.

Like mentioned before on this thread, use coinbase or bitstamp if you want the funds into your bank account.
Or you could use a bitcoin debit card like e-coin/wirex, i have been very happy with their service, of course they have their issues too.

You can order their card and upload funds without needing to send your ID up to 2000$.

Depends if you are living in 3rd world country maybe you can sell up your bitcoin into real money i always deposit my bitcoin into bank and they changing it into real money that quick :)

Like others said no bank is ever going to accept btc directly, you need to exchange your coins but you can use a bitcoin debit card. You can cash out easily from atm with few limitation without any hassle. Even tried bank transfer via advcash once, it did work without any problem. Not sure if they still offer that option.

yes it is very possible, just use any exchange from a very long list like coinbase, circle etc etc etc... also you can do personal deals to exchange it. size should not be a problem as long as you fill you tax returns

Agree coinbase best exchange for btc and eth coins but to have better trade experience from any country you could do with localbitcoins. Here you can find the escrow system is with you while you trade the bitcoins to traders. Most of the people here around has the choice as localbitcoins only for their transactions to bank.

The banks do not have such a support yet. I think that you will support the banks directly or indirectly in the future.
But you can transfer funds to your bank account using the bitcoin exchanges.
Sample sites:

https://btc-e.com
https://yobit.net

Ive never heard of a Bitcoin Debit card, but ive always wanted to convert my btc into USD. By doing this, can I deposit the USD in my btc debit card into a Paypal account?

Can a soon-to-be and cards but yet, as far as I know, you can change the BTC into USD on the stock exchange. Although there are and exchange companies that for your percentage will help you exchange.

I was looking at getting a e-coin card but then their website wirex had problems over the holidays and alot of mad people over at their support thread telling of not getting payments sent and the like.
What issues if any have you had and how long have you had the card for?
I have one but the $1 monthly fees would be good to have waived off.  Even if you don't hold a balance on the card. :-[
If e-coin's card did not have this I would go with them in a heart beat.

Not directly from a BTC address to a bank account but pretty easy, just register an account at any exchange and verify identity in some "and no need in others", Deposit, Trade to USD, withdraw...

The easiest way, I think, is to convert Bitcoin into BTC-e codes and than withdraw codes to your bank account.

how abut bitcoin ATM ?
whether bitcoin ATM in the future will have to redeem bitcoin features directly into our local bank ?

Well honestly, after the holidays i had an issue too when i tried loading the card and it said insufficient funds and i had to msg support to get my funds back. Also, never used wirex website, only the mobile application and the loading on e-coin.io so i could really suggest them just because of how many times their card have savdd me example with urgent groceries. Let me know if you are interested, i can pm you a link which gives you -25% off their card :)

no you can't..it is virtual currency

marcuslong which country do you stay in ??

You can actually deposit your money into somewhere like Localbitcoins.com, from there you will be able to sell your bitcoin to somebody who will pay you by bank transfer. This is pretty much the same as a bank withdrawal, just requiring a third party.

However, cashing out directly from BTC to Bank Transfer is not possible since they're two different platforms. Unless your bank has a built-in exchange, which I highly doubt considering most banks hate crypto.

Shoot me a PM if you need any help.

Wow. Has deposits it's probably very cool. And under what interest these deposits offer? May we will have something like this soon. Now some banks take to Exchange BTC and ETH.

Good for you..i am still looking whether its avaliable with my bank..

Certainly it's impossible. What you need to do is to convert it into a fiat money through coinbase for dollar, coin.ph if you are from Philippines. If you can't do both of that, you can convert fiat money directly to a person who trade btc-fiat money pairs vice versa
.

I have checked in Google about the bank accepting bitcoin. Unfortunately, no proper results about it. Could you please pass the link to here. Even in my city, I do not able to find any banks that accepting bitcoins. If the bank accepts also its waste according to me due to penalties and maintenance charge all will be applicable then.

Convert fiat money we have, anyway, you can with the help of intermediaries. There are exchange offices that help do it for not a large percentage. And I hope that soon it will be possible to convert in any outlet of the Bank

Depend on what country you live on, if you are US resident you can use coinbase exchange service, coinbase exchange service only available for US. In my country a couple exchange provide withdrawal to bank account, and this service very helpful for me,because I don't need to worry get scam with another people.

you can use exchange services such as cex.io or btc-e  or any other. maybe you can find local bitcoin exchange services depends on your location.

I have a question related to the one suggested by OP,

how do you withdraw large sums of money, that you have stored in bitcoin? Say one hundred thousand dollars? Is it currently even possible? Sites like OkCoin have limit of ten thousand dollars.

Thanks for the information.

Such a thing is not possible for now. The banks do not have direct bitcoin support.
Bitcoin has a slightly different structure than today's finance systems. If you want to translate your BTC into your local currency, there are some methods.

For example
You can convert your BTCs through the exchange sites. You can then transfer the funds your bank accounts.
You can use the LocalBitcoins system.
You can sell your BTCs online within this forum.

You can do that easily indirectly, just set up an account in almost any exchange and pick one based on your country and location, deposit BTC and trade for USD or local currency and then withdraw, it's as simple as it can be.

Every exchange have limit withdrawal a day, until now I never withdrawal in large money the biggest is approx $2,000 so I don't get limit withdrawal, If you have $100,000 on exchange and the withdrawal limit is $10,000 a day, the possible is you only can withdrawal every day until you done to withdrawal all your money.

Yes... Its very possible :) i really withdraw my bitcoin in the real world with a bank account i used my mom's bank account to withdraw it :D but surely my mom did get it not me >.< if it was me the cashier will notice that i make big money but not paying tax :D i was scared that they would right me a message so my mom did get it, you should try it :D in your wallet and their is a code on how to put it :D its easy :D

You can withdraw any sum of money but only thing is you have to open account in all big exchange and split the bitcoin in that exchange and withdraw daily in the daily limit so like this you can withdraw your bitcoins to bank. But you should also check that which country you are residing as you may also face the income tax on the transaction

Yeah it is very possible. Then what would you say the process when you withdraw? Is it easy to use? What kind of bank account your mom have? so that i can try soon if i have enough bitcoin i collect. Is bank account safe to withdraw all you have? or is there any other possible way to withdraw it rather in bank account?

In our country can be exchanged without much difficulty Bitcoin on fiat money. I have already several times and done. As regards security, so it is no more than a credit card. The main thing is to choose the exchange point right.

Well it would really great for us to do that since it is hassle-free. But is there any limitations when you withdraw in bitcoin? Like in our country, our banks don't accept bitcoin withdrawal, maybe it depends on the country where you live in but i hope so in the future, it can be done to our country since it is very convenient to use and effortless.

It only possible if you guys goes to exchange it first.Directly withdraw your bitcouns into bank account could hard job.It depends which country have you lived.If you agree terms and condition then you may do it.

Certainly, there would be a process. You need to convert yoyr bitcoin into fiat money first then encash it to your bank account.

It's not possible to transfer Bitcoin strait to your bank account.
You do have a few options though:

You could use an exchange like Coinbase to exchange your bitcoin for USD/EURO and withdraw to Paypal or your bank account. I'd recommend this most.

You could exchange bitcoin for Cash, Wire, Paypal, etc, online or in person P2P style through places like local bitcoins, the currency exchange portion of this forum, or with your friends. This would be the most anonymous.

You could get a debit card funded with BTC, these vary in anonymity and price, although Bitpay, Xapo, and Shift are all pretty good. This would probably be the most convenient.

Like here in my country we use our own based web wallets where we can easily sold our nitcoin and deposit our money directly into our bank account no meed to exchange it into fiat if you had web wallet that based on your country used that to sell out your coins :$

Yes. This is exactly what we have in the country and change has on Fiat money. Me this way. We even can change without the participation of the Bank. Just with the purse has Exchange spend and go pick up cash

yes t is depending on the country where we are living.  i think local bitcoin is the best option in this regard. in my country i am using URDUBIT for depositing and withdrawal of bitcoin. its really a very good service, i never feel any issue regarding this service.i will love to continue using it even in future.

Directly no , but through Exchanges yes .

For example you can withdraw to your bank via BTC-E / BITSTAMP / COINBASE , these are the Official BTC Exchanges . Check the official exchange in your country and register there with Document proof , add your bank and withdraw your BTC for the exchange wallet :)

I heard that there is even a BitCoin card. And if I understand correctly, then you can transfer them directly. It is also very convenient. Do not tell the truth is? And where such a cardcan be opened, if it's true?

I'm using this one,  VISA card, you can pay with it in store or take cash on ATM, take my referral and get 25% discount on all cards, cost only 11,25USD

https://cryptopay.me/join/2ba174b8

This is exactly what I was looking for. Thank you very much for the link to the desired information. Now I will go register and soon will get stake. Only to begin to learn their tariffs. It's somewhere you can see on the site? I have not yet found: (

Localbitcoin.com is a site with a good reputation you can trust. Ise it myself. There many vendors and they habe screening processes. Escrow is used so if you do not see the money in your banking account you so ply do not release the coins. There is a count down and if you dont release in that count down time the transaction ends and they open up a case against you. Unless they habe not sent you anything and the time runs out then that is fine.

At the moment no, theres no bank account supporting btc withdrawal if you want to transfer your btc to your bank i suggest to use localbitcoins and trade safely.

Businesse proposal announced by Citi bank in the end of last year. There is no any bank accepting bitcoin this well know truth bro. No need of waste explanations when its knows to all. If you wish take bitcoin as your country's fiat from the ATM card. Create the wallet in spectrocoin and buy a debit card, they will be able to deliver to you anywhere globally.

As stated above posts pls use exchanges.From my experience best and newbie friendly exchange was cex.io.Instant withdrawal.Also try bitcoin debit cards.Lots of info on forum