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Author Topic: any wallet which support bitcoin withdrawal to my bank account ?  (Read 164 times)
frodoe7
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July 04, 2018, 04:24:19 PM
 #1

any wallet which support bitcoin withdrawal to my bank account ?

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July 04, 2018, 04:40:28 PM
 #2

any wallet which support bitcoin withdrawal to my bank account ?

A wallet is supposed to give you control over your private keys and let you send and receive bitcoins. A service that allow withdrawing to your bank account is an exchange.

So, all depending in your location but you have multiple options: Kraken, Coinbase, Gemini, BitPanda, Bitfinex.

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July 04, 2018, 04:44:06 PM
 #3

any wallet which support bitcoin withdrawal to my bank account ?

A wallet is supposed to give you control over your private keys and let you send and receive bitcoins. A service that allow withdrawing to your bank account is an exchange.

So, all depending in your location but you have multiple options: Kraken, Coinbase, Gemini, BitPanda, Bitfinex.

Yes any service which transfer the bitcoins to my bank account in EGYPT will be good

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July 04, 2018, 05:28:56 PM
 #4

Cex.io is the best option that allows you to withdraw your bitcoin to your card, but recently they restrict card withdrawals including your country you can read more here https://blog.cex.io/news/countries-restricted-17399 and I heard also paxful is the place to withdraw your bitcoin to your bank account, but I heard many issue using their service and it's not a safe wallet.

The other alternative that I know is using worldwide crypto debit cards to withdraw your bitcoin to any Bank ATM.

You can try to use bitpay and I think you can withdraw your bitcoins via bitpay card.

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July 04, 2018, 06:01:18 PM
 #5

You could try the Currency Exchange section and find reputable members to exchange your bitcoin to their PayPal, although you'll have to make sure that you're dealing with people you can trust. Read the sticky in the board to learn more about PayPal and reversibility.

Cex.io is the best option that allows you to withdraw your bitcoin to your card, but recently they restrict card withdrawals including your country you can read more here https://blog.cex.io/news/countries-restricted-17399 and I heard also paxful is the place to withdraw your bitcoin to your bank account, but I heard many issue using their service and it's not a safe wallet.

The OP mentioned that his bank account is in Egypt and it's included on that list for Cex.io. I haven't dealt with Paxful at all so I can't say much about that part though.
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July 04, 2018, 07:06:51 PM
 #6

any wallet which support bitcoin withdrawal to my bank account ?

I think Coinbase would be your option but you will never get the option to withdraw in all the countries. Most of Asian countries not in the support list mate. Then you want to change the bitcoin all the time for fiat cash you can have the localbitcoins with the 2FA security also will be the best choice dude.

I see Omegastream shared some exchange wallets kind of that only will work better but web are mostly not secured to have big funds bro.
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July 04, 2018, 08:28:20 PM
 #7

any wallet which support bitcoin withdrawal to my bank account ?

A wallet is supposed to give you control over your private keys and let you send and receive bitcoins. A service that allow withdrawing to your bank account is an exchange.

So, all depending in your location but you have multiple options: Kraken, Coinbase, Gemini, BitPanda, Bitfinex.

Yes any service which transfer the bitcoins to my bank account in EGYPT will be good
Here you can see a list of exchangers, there aren't ones for Egypt but you can use international exchangers: https://bitcoin.org/en/exchanges
Also it's not a correct to ask wallet supports country...
There are also alternative methods, for example use debit cards or exchange bitcoins for skrill, neteller and then transfer funds from them to your bank accounts.

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July 04, 2018, 09:16:32 PM
 #8

any wallet which support bitcoin withdrawal to my bank account ?

A wallet is supposed to give you control over your private keys and let you send and receive bitcoins. A service that allow withdrawing to your bank account is an exchange.

So, all depending in your location but you have multiple options: Kraken, Coinbase, Gemini, BitPanda, Bitfinex.

Yes any service which transfer the bitcoins to my bank account in EGYPT will be good
Here you can see a list of exchangers, there aren't ones for Egypt but you can use international exchangers: https://bitcoin.org/en/exchanges
Also it's not a correct to ask wallet supports country...
There are also alternative methods, for example use debit cards or exchange bitcoins for skrill, neteller and then transfer funds from them to your bank accounts.
The country that has been accepting bitcoin transactions legally also open for banking transactions linked to digital money transfers. Its now widely implemented, because of the easy transfer and speeds up the transaction processing. In my country itself, the local exchange sites was now capable of sending money to my bank account direct same as what other bitcoin user countries applied for their funds. It made life easier and convenient all the way.
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July 05, 2018, 07:21:08 AM
 #9

You can trade through LBC -- https://localbitcoins.com/country/EG

Don't you have local exchange there? that will be more convenient and faster. Almost every way of withdrawing your bitcoin > fiat / bank account are given.

You have to try it out and see if its convenient for you. Last year there's a news of an exchange "Bitcoin Egypt" is this exchange still operating?

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July 05, 2018, 08:03:13 AM
 #10

I just searched about the Egyptian Bitcoin exchange that was supposedly launched last year and it's currently dead- the site goes to a GitHub page that gives you a 404 or something similar. A bit surprising to me considering there was so much media fanfare about the platform launching a year back, but I guess things didn't work out with the government or another critical issue happened.

Your best option is to go P2P with LBC like livingfree posted. From what I have seen online most bitcoiners in Egypt conduct their business P2P due to a lack of exchanges and such either way, and LBC works great. I did find that Spectrocoin allows withdrawals in Skrill, PerfectMoney and Payeer, but those methods aren't what you're looking for unfortunately.
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July 05, 2018, 01:56:31 PM
 #11

Yes any service which transfers the bitcoins to my bank account in Egypt will be good
I do not think you will find a direct exchange method, but you may find a mediator service for example from bitcoin to X service & from X to your bank account.
Some friends from Egypt who often use sites such as localbitcoin to exchange bitcoin "They are often recommending services such as Vodafone cash using localbitcoin."
Before that, you have to ask about the legal status of the Bitcoin in Egypt, because I heard about some restrictions there.
You can also post in the Arabic section to get more experiences.





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July 05, 2018, 03:26:23 PM
 #12

Most people have posted here are talking about exchanges, not the actual "wallet". Cex.io and such are exchanges, you are not a holder on your money if you store on exchanges so providing exchanges as the solution isn't a good idea.

Speaking of that, there is no "wallet" that you can directly withdraw your money to your bank account. Most of them are the exchanges which allow you to do this kind of stuff.

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July 06, 2018, 09:14:00 AM
 #13

Only centralized wallets would be able to do that. By nature of decentralization, if you use an open source wallet that only lets you control private keys, then there's really no way this could be possible, at least for the moment.

And by centralized wallets, meaning those belonging to exchanges. The only way to get a withdrawal to your bank account is to sell Bitcoin. This happens at an exchange. Or, you could go peer-2-peer like on Localbitcoins. Find someone else willing to buy your Bitcoin. Sell it to them, they send you cash to your bank account.

However you look at it, converting Bitcoin to cash simply means selling it to the entity, at their rate.

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July 06, 2018, 03:20:39 PM
 #14

There are some ICO projects comes with that concept only but world level or famous we cannot assure that it will be reach to that level mate. I did not find the any wallet currently accepting the collaboration kind of service mate.

As of now exchanges are only thing you need to use to change the bitcoins into fiat cash.

Please go to localbitcoins.com or local exchange to convert your bitcoins.
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July 07, 2018, 09:23:21 AM
 #15

Infact i was also looking for an exchange that can convert crypto coins and withdraw money globally into bank accounts but nevertheless there are no such exchanges.
However,  i have seen people exchanging crypto with fiat on localbitcoins. This service can be availed on from localbitcoins.com platform
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July 07, 2018, 11:29:20 AM
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Infact i was also looking for an exchange that can convert crypto coins and withdraw money globally into bank accounts but nevertheless there are no such exchanges.
However,  i have seen people exchanging crypto with fiat on localbitcoins. This service can be availed on from localbitcoins.com platform
Why would you want to do that in the first place? Doing so would only result in your bank account being tracked and blocked if you cannot provide legit sources of that income. Depending on your country of residence , this varies though. LocalBitcoins is a better of dealing with it.

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July 07, 2018, 08:12:02 PM
 #17

Infact i was also looking for an exchange that can convert crypto coins and withdraw money globally into bank accounts but nevertheless there are no such exchanges.
However,  i have seen people exchanging crypto with fiat on localbitcoins. This service can be availed on from localbitcoins.com platform
Why would you want to do that in the first place? Doing so would only result in your bank account being tracked and blocked if you cannot provide legit sources of that income. Depending on your country of residence , this varies though. LocalBitcoins is a better of dealing with it.

I am not sure how long you dealing in localbitcoins.com after terms and condition updated you need to share the information to the localbitcoins website to verify all the documents before you deal with the trader mate.
If you see to have a trade with the any trader you may find the pop up says verify you ID card to have the trade.
In future even localbitcoins also find the same kind of rules like local exchange which do banking support.
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July 07, 2018, 11:32:27 PM
 #18

Infact i was also looking for an exchange that can convert crypto coins and withdraw money globally into bank accounts but nevertheless there are no such exchanges.
However,  i have seen people exchanging crypto with fiat on localbitcoins. This service can be availed on from localbitcoins.com platform
Why would you want to do that in the first place? Doing so would only result in your bank account being tracked and blocked if you cannot provide legit sources of that income. Depending on your country of residence , this varies though. LocalBitcoins is a better of dealing with it.

I am not sure how long you dealing in localbitcoins.com after terms and condition updated you need to share the information to the localbitcoins website to verify all the documents before you deal with the trader mate.
If you see to have a trade with the any trader you may find the pop up says verify you ID card to have the trade.
In future even localbitcoins also find the same kind of rules like local exchange which do banking support.
I guess most exchanges are more like that, they tend to follow what the government are asking them to do. Meaning, they have to ask every person's real identity to starts trading their crypto currency to any fiat currency. And i think it is logical to have like that because most of the moneys that's coming from cyrpto are subjected to AML if someone withdraw beyond the limitation of any normal citizen.

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Krezi777
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July 08, 2018, 06:44:55 PM
 #19

The conclusion of a cue ball for real money is necessary. Some of the exchanges are doing well with this. Those who have protection from the intrusion of state bodies. After all, if the state learns about the exchange of crypts for dollars, then naturally it will tax the income tax.
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