Bitcoin to direct wire transfer?

[designer24]

Hello guys,

Is there any company which can wire transfer bitcoin into USD?

For instance, I have a bitcoin wallet with many bitcoins and I want to send bitcoin in USD to a guy in other country.
Is there any company which accepts bitcoin and exchange the bitcoin into USD and then deposit to recipient's bank account in other country?

Thanks in advance,

[allthingsluxury]

Just send the BTC, then he can exchange for USD online, in his country. There are tons of services out there.

[designer24]

Just send the BTC, then he can exchange for USD online, in his country. There are tons of services out there.

The recipient accepts bank transfer only... so I was wonder if there's a company which does BTC to USD international wire transfer..
I wonder why there isn't any?

[designer24]

any opinion on this yet?
Have you guys heard of any company which does this service?

Thanks,

[HabBear]

Bitwage and Bitpay operate in this space.

But what are you trying to do? Is this a personal transaction? You're trying to send this bitcoin to another person who doesn't want to open a wallet? Use a bitcoin debit card for the person needed to make transactions in fiat. You can send bitcoin to their the bitcoin address linked to the debit card OR load the debit card directly as needed. E.g., you're sending money to relatives "back in the old country" to spend locally, you buy them a prepaid debit card in their local currency, you load the card with bitcoin as you need to and they spend it as they need to.

[MisterKT]

You can only send Btc to your friend, and he has then to convert himself.

[bitart]

any opinion on this yet?
Have you guys heard of any company which does this service?

Thanks,

If the recipient accepts only wire transfer then it's your job to exchange the bitcoin into fiat and send it abroad (bank transfer, WU, etc.). You can't use exchanges, because most of the exchanges are only allow you to send the money back to your own bank account.

[Emoclaw]

any opinion on this yet?
Have you guys heard of any company which does this service?

Thanks,

If the recipient accepts only wire transfer then it's your job to exchange the bitcoin into fiat and send it abroad (bank transfer, WU, etc.). You can't use exchanges, because most of the exchanges are only allow you to send the money back to your own bank account.

He could then transfer the money from his own bank account to the recipient though, couldn't he?
As far as I am aware, most exchanges like kraken.com have wire transfer withdrawals but the name on the bank account must match that of the kraken.com account.

[countryfree]

I doubt it could be possible because of AML and KYC regulations. You cannot make a transfer and a conversion in a single operation. It's possible with different fiat currencies, though.

[patt0]

Hello guys,

Is there any company which can wire transfer bitcoin into USD?

For instance, I have a bitcoin wallet with many bitcoins and I want to send bitcoin in USD to a guy in other country.
Is there any company which accepts bitcoin and exchange the bitcoin into USD and then deposit to recipient's bank account in other country?

Thanks in advance,

I don't think that exists, but aren't you just complicating things. From my perspective, you have two options here. The first one is to directly send bitcoin to your friend, and he can then exchange them to USD. The second one, you convert bitcoin to USD yourself and then you send him the dollars. Why do you want to send him BTC, and expect him to receive dollars?

The closest think I see to this, is to use crypto cards like monaco or tenX, but that is not really a transfer. If your friend had a card like this, he could have btc in his account, and as he used the card, everything could be used in dollars (payments, atm withdrawals etc).

[designer24]

any opinion on this yet?
Have you guys heard of any company which does this service?

Thanks,

If the recipient accepts only wire transfer then it's your job to exchange the bitcoin into fiat and send it abroad (bank transfer, WU, etc.). You can't use exchanges, because most of the exchanges are only allow you to send the money back to your own bank account.

He could then transfer the money from his own bank account to the recipient though, couldn't he?
As far as I am aware, most exchanges like kraken.com have wire transfer withdrawals but the name on the bank account must match that of the kraken.com account.

Thanks for your response guys!
I will try kraken.com

I'm just wondering why people don't offer direct wiretransfer service for bitcoin... yeah maybe because of regulations?
if somebody does this, it can be a nice business I guess.
So bitcoin to current exchange & direct bank wire transfer to anywhere in the world would be fantastic and actually make the whole thing easier.

[designer24]

Guys,

kraken.com does this!

You can send your bitcoin to your kraken account and then convert to USD, then wire transfer to any bank account around the world.
Although this requires verification, but it works.
limitation is $200,000 USD a month.

So it's possible to transfer bitcoin directly to a bank account overseas without using a real bank.

[bitart]

Guys,

kraken.com does this!

You can send your bitcoin to your kraken account and then convert to USD, then wire transfer to any bank account around the world.
Although this requires verification, but it works.
limitation is $200,000 USD a month.

So it's possible to transfer bitcoin directly to a bank account overseas without using a real bank.

Thanks, it's good to know that it's possible.
Although, if you need to fully identify yourself on an exchange (KYC, AML), that means that exchange behaves like a bank, so it's not a surprise if they let you do what you want with your money They are like real banks in this situation.

[designer24]

Guys,

kraken.com does this!

You can send your bitcoin to your kraken account and then convert to USD, then wire transfer to any bank account around the world.
Although this requires verification, but it works.
limitation is $200,000 USD a month.

So it's possible to transfer bitcoin directly to a bank account overseas without using a real bank.

Thanks, it's good to know that it's possible.
Although, if you need to fully identify yourself on an exchange (KYC, AML), that means that exchange behaves like a bank, so it's not a surprise if they let you do what you want with your money They are like real banks in this situation.

Yes but they're not in your country and not affiliated with your government...they're totally third party nonetheless.

[Seedify]

Yes but they're not in your country and not affiliated with your government...they're totally third party nonetheless.

Which is the important part. KYC and other regulations are only applicable within the US. That third party is necessary for any US trader of cryptocurrencies.

[soham]

Hello guys,

Is there any company which can wire transfer bitcoin into USD?

For instance, I have a bitcoin wallet with many bitcoins and I want to send bitcoin in USD to a guy in other country.
Is there any company which accepts bitcoin and exchange the bitcoin into USD and then deposit to recipient's bank account in other country?

Thanks in advance,

So you are looking for an exchange platform where you can deposit your bitcoins and sends out the money to someone else. I think Localbitcoins.com will have a solution for your question. It is an online platform where you can sell your bitcoins to any local traders for bank transfer or for cash. You can also buy bitcoins using the same methods.

They also have an in-built escrow system so your funds will be safe from the hand of scammers. Once the money gets credited to the recipient's bank account, you can release the escrow. Try it with your own bank account first to understand how it works. 

[countryfree]

Guys,

kraken.com does this!

You can send your bitcoin to your kraken account and then convert to USD, then wire transfer to any bank account around the world.
Although this requires verification, but it works.
limitation is $200,000 USD a month.

So it's possible to transfer bitcoin directly to a bank account overseas without using a real bank.

NO, you can't. kraken does not allow this. You can only withdraw money to your own account (same name), not of a third party.

[aryaadikariyansyahsuwarto]

Actually it's not hard, you just convert it from btc to usd, after that you send usd to your friend .. And you can just send btc to your friend, provided your friend has bitcoin wallet first. So this question is not difficult.

[Kingofbitcoin12345]

Just send the BTC, then he can exchange for USD online, in his country. There are tons of services out there.

Right,, it is better that way.. But you must double check addresses so your sent bitcoin won’t go to waste.. Don’t hassle much time and effort on looking for a specific exchange features but used the legit and most trusted especially that you will use online exchange on that process.. And it is best to look for manual input of transaction fees than the one with automatic one..

[rcoins0720]

In our country we use CoinsPH there we have the converter if you want to send BITCOIN or in national currency
and we can send it directly to a person
why not pay him or transfer him raw BTC then he will exchange it to national currency or vise versa you do the exchange and you will transfer it to him
easy solution