1st timer - Help cashing out from bitcoin wallet.

[embodytantra]

Hey, so I am using "Bitcoin Wallet" app and nowhere on it does it say how to exchange it for USD (either by bank wire, or some other method).  Can anyone help me? Yes, I do have bitcoin in there.

Thank you

[TryNinja]

Which app is that exactly? You coulse use a third party exchange to sell your Bitcoins for cash.

e.g: Coinbase, LocalBitcoins or Kraken.

[embodytantra]

Which app is that exactly? You coulse use a third party exchange to sell your Bitcoins for cash.

e.g: Coinbase, LocalBitcoins or Kraken.

like I said, it's Bitcoin Wallet.

[embodytantra]

Which app is that exactly? You coulse use a third party exchange to sell your Bitcoins for cash.

e.g: Coinbase, LocalBitcoins or Kraken.

I thought the app I'm using WAS a 3rd party? But I am not sure.

[ranochigo]

Which app is that exactly? You coulse use a third party exchange to sell your Bitcoins for cash.

e.g: Coinbase, LocalBitcoins or Kraken.

I thought the app I'm using WAS a 3rd party? But I am not sure.

I assume you are using this (https://play.google.com/store/apps/details?id=de.schildbach.wallet&hl=en). Most (All) Bitcoin wallets only functions as a wallet and not as an exchange. They are only used for transacting Bitcoins but not to transact from Bitcoin to fiat. You have to use an exchange for that. Coinbase, LocalBitcoins, Bitfinex, Bitstamp are various examples.

[lecongnhan123]

Hey, so I am using "Bitcoin Wallet" app and nowhere on it does it say how to exchange it for USD (either by bank wire, or some other method).  Can anyone help me? Yes, I do have bitcoin in there.

Thank you

If you are wanting to exchange Bitcoin into real cash, you can also use a third party to exchange or maybe you can find exchangers in your country to sell your Bitcoin for your local currency.

[User365]

Hey, so I am using "Bitcoin Wallet" app and nowhere on it does it say how to exchange it for USD (either by bank wire, or some other method).  Can anyone help me? Yes, I do have bitcoin in there.

Thank you

Bitcoin wallet is just an app to store your Coins.

If you want to spend them you can use your wallet (send BTC or receive)

If you want to exchange to f.e. USD or EUR this cannot be done via this app, you will need to use a exchnage service like Kraken, Bitstamp or if you don´t want to make an account which needs to be verified or prefer face to face trade for Cash you can use Localbitcoins.

[Atomicat]

What you have is an app that can be thought of like your wallet and within your wallet you have a currency called bitcoin.
The only difference here is that your wallet is physical and your bitcoin wallet is digital. Other than that its the same concept.
Bitcoin can be exchanged to any currency the same way its possible with physical cash.

To change Bitcoins to fiat you need to use an exchange. Refer to this link to find a suitable exchange for you: https://bitcoin.org/en/exchanges

[Kakmakr]

Take a tip from a fool. Sign up with an exchange and go through all their KYC/AML bullshit and then transfer ONLY a small amount of coins from your wallet to this exchange to sell it for fiat/cash. I have had some bad experiences with some exchanges, where I signed up and I transferred a bunch of coins, only to have my account frozen, until I had to jump through a shitload of loops to explain these coins to them for my accounts to be unlocked. < They have to prevent money laundering, so they will scrutinize your account and look for reasons to seize your coins >

Test the exchange with small amounts, before you jump into the deep end and drown. ^smile^