Taking money out of Bittrex

[sjobs12]

I have several altcoins. I would like to take my coins out or sell them and get the money sent to my bank account. Can somebody tell me the process?

Really appreciate anyone who responds.

[keyboard warrior]

Is your bittrex account verified? You can't withdraw anything from an unverified account any more. They recently changed the rules. The only way you can make withdrawals is to verify by submitting scans of a passport or drivers license. There's supposed to be a basic verification that doesn't require scans, but it never seems to work for anyone.

[sjobs12]

How do I know if I have been verified?

[Potato Chips]

How do I know if I have been verified?

If you haven't done any verification [reference below], your account is probably unverified. Go to your Account's "Settings" tab to verify your account.

How do you verify accounts?

Basic accounts require users to submit their name, address, and birth date to us.  We verify it through public records.  If we can verify you through public records, we will accept your application for a basic account.  If that fails as well you will need to proceed to an enhanced verification.

Enhanced accounts require users to submit scans of their identification and selfies.  Our service provider, Jumio, uses a number of heuristics to verify that the ID are legitimate and the faces match.

As stated by the other user above, most people has a slim chance of getting on tier 2 (Basic Account) so you should be prepared to submit tons of documents.

After withdrawing, you can then find another exchange where you can sell your altcoins for fiat and get it transferred at your bank acc.

I know a few ones but I won't recommend them for various reasons. If I we're you I will just find another user who's willing to buy my altcoins for his fiat of course with a trusted escrow as a middleman.

[sjobs12]

Thank you both very much for your responses. I really appreciate it. Few more questions:

1)So I cannot sell on Bittrex directly? So it is not like a stock trading account?

2)Can I convert it to Bitcoin, transfer to Coinbase account, and then do it?

3)What is "fiat"?

4)What would be the process of finding another user?

5)Is there a FAQ that I can read somewhere on this?

Thank you again very much for any response.

[lizardbtc]

Thank you both very much for your responses. I really appreciate it. Few more questions:

1)So I cannot sell on Bittrex directly? So it is not like a stock trading account?

2)Can I convert it to Bitcoin, transfer to Coinbase account, and then do it?

3)What is "fiat"?

4)What would be the process of finding another user?

5)Is there a FAQ that I can read somewhere on this?

Thank you again very much for any response.

FIAT - goverment backed up currencies, such as USD, EUR, RUB ...

You can convert all to bitcoin and trade on coinbase - might want to look at ltc or eth options because bitcoin fees are a bit higher (since bittrex and coinbase don't support LN yet) and your transaction might take some time to proccess

Bittrex is an altcoin/cryptocurrency exchange where you simply trade ONLY cryptocurrency pairs, they don't have support for fiat pairs.

Process of finding anothe user well you couold try to find some guy here on forum for instance that will buy coins from you, you both specify payment methods. Escrow here is a must.

Not sure about FAQ, there are prob some answers answered on the internet

[Slow death]

[...]

To simplify your task: if you already have verified account in bittrex then withdraw your bitcoin for your coinbase and coinbase wallet for your bank account

You can also use neteller and skrill (add your Visa card to your skrill account)
create an account in neteller and skrill (add your Visa card to your skrill account)
deposit bitcoin into your neteller account and then transfer neteller money to your skrill account and withdraw money from your skrill account into your bank account

[sjobs12]

Thank you again everyone for your responses.

I am just trying to understand.

1) So I convert all my altcoins to one of the coins that Coinbase supports. I already have a Coinbase account. Can you tell me which one of the Coinbase supported coins has the lowest fees for this transaction and what would be the amount/percentage of the fee?

2) Can't I sell the coin (a supported coin) on Coinbase and then move the money from Coinbase to my bank?

[sjobs12]

Can anybody please answer the last two questions for me?

Thanks.

[sundriver]

Thank you again everyone for your responses.

I am just trying to understand.

1) So I convert all my altcoins to one of the coins that Coinbase supports. I already have a Coinbase account. Can you tell me which one of the Coinbase supported coins has the lowest fees for this transaction and what would be the amount/percentage of the fee?

2) Can't I sell the coin (a supported coin) on Coinbase and then move the money from Coinbase to my bank?

You are correct on both.

Cheapest fees? I think it doesn't matter because Coinbase fees are the same percentage regardless of the coin. The only time it would matter for the mining fees. Make sure you check the withdrawal fee on bittrex. They are expensive for bitcoin, for example.

Have you managed to verify your account on bittrex? I can't verify and have 25% of all my wealth on there.

[sjobs12]

What are the issues that you are facing while verifying?

[carlfebz2]

What are the issues that you are facing while verifying?

Issues on facing while verifying is the waiting time because it wont really be instant on most cases which I have experience those verifcations would takes time depending on how fast they would able to verify those document of yours and come to think off there are lots of job or works to done for those staff on most exchanges. If you did submit the most suitable required documents then theres nothing to doubt.Unless if you do submit fake ones.

[sjobs12]

How long does it take? For me, it is just telling me "Your verification is currently being processed" after I uploaded the picture and DL.