Transferring btc to bank account?

[smallbear12]

Hi all, sorry in advance if this is a silly question, but am bit of a newbie to this - please can someone advise me on how I transfer bitcoins from my wallet (using Electrum 2.3.2) to my bank account? Do I need to change/sell them back to GBP first via localbitcoins or similar site, or is there a way of transferring directly from wallet please?
Thanks in advance

[sun64986161]

Hi all, sorry in advance if this is a silly question, but am bit of a newbie to this - please can someone advise me on how I transfer bitcoins from my wallet (using Electrum 2.3.2) to my bank account? Do I need to change/sell them back to GBP first via localbitcoins or similar site, or is there a way of transferring directly from wallet please?
Thanks in advance

you can sell them back to GBP first via localbitcoins or you can use bitsamp, bitsamp is bigger market where you can withdraw with wirebank
or you can sell your bitcoin in here section
https://bitcointalk.org/index.php?board=53.0

[OmegaStarScream]

Coinbase.com or Bitsmap , check them
you can exchange your bitcoin for USD or GBP or whatever you want on Coinbase/Bitsmap and have them funded to your bank account later I guess .
check here more exchange https://en.bitcoin.it/wiki/Category:Exchanges , you should check them out however having them on Bitcoin wiki dosen't mean that they are 500% legit (see the warning on the top of the page)

[shorena]

Hi all, sorry in advance if this is a silly question, but am bit of a newbie to this - please can someone advise me on how I transfer bitcoins from my wallet (using Electrum 2.3.2) to my bank account? Do I need to change/sell them back to GBP first via localbitcoins or similar site, or is there a way of transferring directly from wallet please?
Thanks in advance

You have to sell them first either directly or via a service. Electrum is bitcoin only.

[ranochigo]

Hi all, sorry in advance if this is a silly question, but am bit of a newbie to this - please can someone advise me on how I transfer bitcoins from my wallet (using Electrum 2.3.2) to my bank account? Do I need to change/sell them back to GBP first via localbitcoins or similar site, or is there a way of transferring directly from wallet please?
Thanks in advance

you can sell them back to GBP first via localbitcoins or you can use bitsamp, bitsamp is bigger market where you can withdraw with wirebank
or you can sell your bitcoin in here section
https://bitcointalk.org/index.php?board=53.0

Bitsamp? Isn't it Bitstamp?

LocalBitcoins offers a variety of methods for you to exchange your BTC to cash or vice versa. They are basically a middleman. Alternatively, you can try kraken which doesn't require ID verification for basic low limits withdrawals which is more convenient than Bitstamp since they require ID verification and can take days. Both of them allow SEPA withdrawal method.

[Muhammed Zakir]

Give https://www.bitquick.co/sell.php a try.

[smallbear12]

Thanks all, everyones advice much appreciated
Thanks for taking the time to answer and advise.

[u9y42]

Thanks all, everyones advice much appreciated
Thanks for taking the time to answer and advise.

Another route you can take to sell your BTC for GBP, and then deposit in your bank account, is through payment processors like Payza, or Neteller. They do require you to have a verified account before this option is made available to you though, but if you already have one, the process is fairly simple, and the fees aren't very high.

[cashtraderuk]

The quickest and easiest way is to sell them on localbitcoins see

https://localbitcoins.com/instant-bitcoins/?quick-action=sell&quick-amount=&quick-currency=GBP&quick-online_provider=NATIONAL_BANK&quick-country_code=GB&find-offers=

Create an account send the bitcoins to your wallet on LBC and then open an offer using the above link and they will transfer the GBP to your account usually in 5 minutes or less.

[Muhammed Zakir]

The quickest and easiest way is to sell them on localbitcoins see

https://localbitcoins.com/instant-bitcoins/?quick-action=sell&quick-amount=&quick-currency=GBP&quick-online_provider=NATIONAL_BANK&quick-country_code=GB&find-offers=

Create an account send the bitcoins to your wallet on LBC and then open an offer using the above link and they will transfer the GBP to your account usually in 5 minutes or less.

LocalBitcoins.com price/BTC is very high. I could never find reasonable rates on LBC.

[hasmukhrawal]

you will have to exchange them for your native currency and then use an online service to transfer them to your bank.
or contact a bitcoin trader for your convenience.

[sun64986161]

Hi all, sorry in advance if this is a silly question, but am bit of a newbie to this - please can someone advise me on how I transfer bitcoins from my wallet (using Electrum 2.3.2) to my bank account? Do I need to change/sell them back to GBP first via localbitcoins or similar site, or is there a way of transferring directly from wallet please?
Thanks in advance

you can sell them back to GBP first via localbitcoins or you can use bitsamp, bitsamp is bigger market where you can withdraw with wirebank
or you can sell your bitcoin in here section
https://bitcointalk.org/index.php?board=53.0

Bitsamp? Isn't it Bitstamp?

LocalBitcoins offers a variety of methods for you to exchange your BTC to cash or vice versa. They are basically a middleman. Alternatively, you can try kraken which doesn't require ID verification for basic low limits withdrawals which is more convenient than Bitstamp since they require ID verification and can take days. Both of them allow SEPA withdrawal method.

sorry for my typo i mean Bitstamp not bitsamp

[RealBitcoin]

Yep you will need to sell at cex or coinbase, only bigger vendors deal with banks, because you need regulations and other stuff to interact with banks.

[Bitdonator]

Hi all, sorry in advance if this is a silly question, but am bit of a newbie to this - please can someone advise me on how I transfer bitcoins from my wallet (using Electrum 2.3.2) to my bank account? Do I need to change/sell them back to GBP first via localbitcoins or similar site, or is there a way of transferring directly from wallet please?
Thanks in advance

you can order Bit-x debit card and u can use it on any ATM.
Your card is tied with your BTC balance in your Bit-x account.

You send BTC to your account and then withdraw GBP on nearest ATM machine.
Bit-x will convert your BTC to GBP at current exch. rate.

Then you go with money to your bank, and make deposit to your bank account.

[Muhammed Zakir]

Hi all, sorry in advance if this is a silly question, but am bit of a newbie to this - please can someone advise me on how I transfer bitcoins from my wallet (using Electrum 2.3.2) to my bank account? Do I need to change/sell them back to GBP first via localbitcoins or similar site, or is there a way of transferring directly from wallet please?
Thanks in advance

you can order Bit-x debit card and u can use it on any ATM.
Your card is tied with your BTC balance in your Bit-x account.

You send BTC to your account and then withdraw GBP on nearest ATM machine.
Bit-x will convert your BTC to GBP at current exch. rate.

Then you go with money to your bank, and make deposit to your bank account.

BIT-X fee is high especially inactive fee, so I recommend http://www.advcash.com/.

[ranochigo]

Hi all, sorry in advance if this is a silly question, but am bit of a newbie to this - please can someone advise me on how I transfer bitcoins from my wallet (using Electrum 2.3.2) to my bank account? Do I need to change/sell them back to GBP first via localbitcoins or similar site, or is there a way of transferring directly from wallet please?
Thanks in advance

you can order Bit-x debit card and u can use it on any ATM.
Your card is tied with your BTC balance in your Bit-x account.

You send BTC to your account and then withdraw GBP on nearest ATM machine.
Bit-x will convert your BTC to GBP at current exch. rate.

Then you go with money to your bank, and make deposit to your bank account.

BIT-X fee is high especially inactive fee, so I recommend http://www.advcash.com/.

If I'm not wrong, advcash needs your ID even when requesting for a physical debit card. Bit-x doesn't need it but the fees are high. It's basically you need to pay a premium for privacy.

[Muhammed Zakir]

Hi all, sorry in advance if this is a silly question, but am bit of a newbie to this - please can someone advise me on how I transfer bitcoins from my wallet (using Electrum 2.3.2) to my bank account? Do I need to change/sell them back to GBP first via localbitcoins or similar site, or is there a way of transferring directly from wallet please?
Thanks in advance

you can order Bit-x debit card and u can use it on any ATM.
Your card is tied with your BTC balance in your Bit-x account.

You send BTC to your account and then withdraw GBP on nearest ATM machine.
Bit-x will convert your BTC to GBP at current exch. rate.

Then you go with money to your bank, and make deposit to your bank account.

BIT-X fee is high especially inactive fee, so I recommend http://www.advcash.com/.

If I'm not wrong, advcash needs your ID even when requesting for a physical debit card. Bit-x doesn't need it but the fees are high. It's basically you need to pay a premium for privacy.

No, it does not.

-snip-
[1]

Plastic MasterCard, no verification!
Now you do not have to get your account verified to get a plastic Advanced Cash MasterCard. Order your card right after you create your Advanced Cash account. The card will have a cumulative limit of $2,500 that consists of $1,000 total ATM withdrawals and $1,500 worth of POS transactions and online purchases. Verify your account to enable our standard card limits, $3,000 daily withdrawals, $10,000 daily card funding.

[2]

Custom card delivery addresses!
Now, when you order your plastic Advanced Cash MasterCard, you can specify a delivery address that is different from your verified address. It's a great opportunity to get our MasterCard if you are traveling, have recently moved, or just prefer the card to go elsewhere.

-snip-

P.S. There is a $2,500 lifetime limit if you don't verify your details.

I said anonymous, because it doesn't required a full verification and you can also order it with a *"fake" name or am I wrong?  * and ask to be shipped to another address.

Technically, you can use any name. We will probably not print a card for you if your name is random characters or is misleading/impersonating somebody else in any way. But otherwise you don't have to verify. I still recommend that you do, because cards have a lifetime limit of $2,500 without verification.

[melody82]

I think LBC is your best bet, because you can get a premium over market values.  But you have to be careful because there are sometimes shady things going on there.

[ObscureBean]

I understand you wanna transfer to your bank account and as others have said Bitstamp is very good. I just thought I'd mention Virwox in case, you wanna transfer to PayPay or Skrill at some point. The site itself doesn't require any verification although you will need to have a verified PayPal account. They have high fees but they're the safest option out there for PayPal and Skrill. Welcome to the forum!

[Herbert2020]

i suggest you keep your bitcoins in your Electrum wallet, and remember to encrypt your wallet for extra security. the bitcoin price is at a good stage and will most probably go higher and you can earn a good profit.