Withdraw to Australian Bank account

[nibbs33]

Hi everyone

I'm reasonably new to the world of digital currency to pls bare with me.

I have some funds in Atomic wallet and I am trying to transfer these funds to my australian bank account (anz) so I can actually use the money!!

Could someone pls explain how they would go about doing this (in as simple a language as possible).

Also has anyone ever heard about purchasing insurance from digital insurance companies when transferring funds around the digital landscape?

I would really appreciate some help here. I have been trying to get my hands on my money for a month now and i'm about to loose the plot!

Adam

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[LoyceV]

I have some funds in Atomic wallet and I am trying to transfer these funds to my australian bank account (anz) so I can actually use the money!!

Find a trusted exchange, create an account, and sell your Bitcoins for dollars.

Also has anyone ever heard about purchasing insurance from digital insurance companies when transferring funds around the digital landscape?

This sounds like a scam. Don't fall for it. Bitcoins go exactly to the address you send them to, so there's no need for insurance. And if you get scammed, you can't prove you didn't move the coins by yourself so insurance is useless. That leaves only one possibility: someone is trying to scam you if they offer "insurance".

[Lakai01]

I have some funds in Atomic wallet and I am trying to transfer these funds to my australian bank account (anz) so I can actually use the money!!

Find a trusted exchange, create an account, and sell your Bitcoins for dollars.
[...]

There are also exchanges based in Australia, for example Swyftx, but I have never used them and can therefore not give you a recommendation.

Before deciding on an exchange, you should make sure that your bank does not refuse deposits from this exchange. I honestly do not know the situation in Australia, whether there are banks where Bitcoin and co. are "frowned upon" and you may have problems with the withdrawal to your bank account. If you are unsure about this you could check with your bank before making the withdrawal.



Bitcoin ATMs could also be an alternative here. There are also according to this page some ATMs in Australia: https://coinatmradar.com/country/13/bitcoin-atm-australia/

Atomic Wallet has also published a HowTo on how to use Bitcoin ATMs: https://atomicwallet.io/academy/articles/bitcoin-atm-guide

[Bureau]

Finding an exchange can be hard and most exchanges require you to pass KYC. That does not mean their non-KYC exchanges do not exist. First find a non-KYC P2P exchange, you can go through the list here: https://kycnot.me. Try the Agora desk or local Monero, and check whether the crypto you have in your Atomic wallet is being traded in the P2P market. If yes then transfer your crypto from Atomic wallet to the exchange you prefer and then use P2P service to convert them to AUD and transfer them to your ANZ bank account.

[BitMaxz]

If you don't mind would you share what coins/tokens you are trying to withdraw and exchange it for money?
We can maybe able to give you a good exchange for those coins/tokens if the P2P exchange doesn't support them.

If you are fine with passing a KYC it seems you can able to use Binance exchange to exchange your coins/tokens under P2P.

[Coyster]

Also has anyone ever heard about purchasing insurance from digital insurance companies when transferring funds around the digital landscape?

Nope, i have not heard about it, where did you get this information from?

There is nothing such as this and it is most likely that scammers are trying to take advantage of your lack of knowledge about the cryptocurrency industry. Mind you that you are your own bank when you use Bitcoin and you are responsible for your own funds, and if you lose it, it cannot be reversed. There is no insurace company in the crypto industry that covers users losses or helps them recover their funds, whoever is selling this idea to you is a scammer and any money you send to them is lost.

[hd49728]

I have some funds in Atomic wallet and I am trying to transfer these funds to my australian bank account (anz) so I can actually use the money!!

Could someone pls explain how they would go about doing this (in as simple a language as possible).

From cryptocurrency in your Atomic wallet to fiat currency in your bank account, they are different types of asset. Fiat currency is from central bank and commercial bank, it's impossible to interact between fiat currency in your bank account with cryptocurrency in your Atomic wallet.

You have to sell your cryptocurrency in Atomic wallet to fiat currency. You can use non KYC cryptocurrency exchanges to do that or can use peer-to-peer trading platforms to do it directly to your bank account.

kycnot.me
No-KYC Exchange Encylopedia

[dansus021]

you can use p2p exchange like https://agoradesk.com/sell-bitcoin-with-aud or any local exchange like bestchanger and there is a tutorial there.

Or you can use Centralized Exchange but most of the Cex require KYC so it will take more longer process.

[aysg76]

You can have a Binance account or Kraken as they are available for Australian users so just need to go through all the KYC norms if you are comfortable with and have money transfered to your account directly by selling them on the exchange.Or if you are not comfortable with KYC you can try https://localbitcoins.com/ but it's only for bitcoin and if you are looking forward to trade some altcoins then you can specify them for better suggestions.But going through exchange is best instead of these insurance companies scam that will only drain your funds so be aware from them.

[YUriy1991]

Nowadays many people make purchases using Bitcoin through apps and this is considered an easy option. Using @aysg76's suggestion is also a good option as they have long been a major proponent of blockchain technology. So. Choose only those that feel safe, comfortable and can be accessed so that withdrawals to Australian Bank accounts are not hampered and can be done easily.

[Husires]

I have some funds in Atomic wallet and I am trying to transfer these funds to my australian bank account (anz) so I can actually use the money!!

if you do not find a CEX you can use Binance P2P, which searches for people who accept Bitcoin and send you money directly to your Australian Bank Account (ANZ), but avoid using Atomic Wallet in the future, as it has been proven that their method of generating the private key is not strong, so it is better to use an open wallet. Source: electrum

A Non-Custodial wallet, Atomic Wallet, being compromised  https://bitcointalk.org/index.php?topic=5454994.0

[Crypt0Gore]

You can exchange your asset for Fiat through centralized exchanges, the receiver will send the fiat into your bank account and it will look like a normal transfer from someone you know, maybe family or friends, I am sure that Binance peer 2 peer supports Australia and also Bybit and Huobi, try one of these out and drop your feedback.

You have to complete your KYC verification on these exchanges first before you can be allow to do P2P trades, I don't know any that's this straight forward and they are very fast and secured, if you don't care about your privacy then pass the KYC verification, the exchanges have some easy walk through available for new users so don't worry.

I heard that Agoradesk is a complete dex platform but I have not do any trades on this platform for once, I don't know how safe it is but you can do your own research if you prefer a dex platform over centralised exchanges.

[Gladitorcomeback]

if you do not find a CEX you can use Binance P2P, which searches for people who accept Bitcoin and send you money directly to your Australian Bank Account (ANZ), but avoid using Atomic Wallet in the future, as it has been proven that their method of generating the private key is not strong, so it is better to use an open wallet. Source: electrum

A Non-Custodial wallet, Atomic Wallet, being compromised  https://bitcointalk.org/index.php?topic=5454994.0

I also will recommend Binance P2P as I have found the best service so far. I exchange money to fiat in Binance more than 50 times and I haven't faced any issue single time. I am using P2P because direct crypto buying and selling is not allowed. Australian have no big issue with that and I think he can also use direct credit card buying and selling  or bank transfer. The only issue in Binance is KYC. If OP doesn't want to pass KYC then he couldn't do this and should other alternative which not required kyc.

[Broadanbig]

OP there' is no two ways about it. What I would advise you to do is this,  possibly register with any of the reliable exchanges for example binance undergo the KYC process and after verification success, you can transfer your coin from your atomic wallet to your new exchange wallet and when doing such, make sure you properly copy the wallet address and verify of it is the right wallet address because any coin that is transferred into the wrong address is gone. After confirming the address to be correct, then you can transfer to your new wallet address and conveet it to usdt or any stable of your choice of you choose p2p trade option otherwise you convert it to us dollar and withdraw to your local account if there is no law restricting crypto currency transaction in your country. I see some members already given you other possible remedy to your situation.

Lastly I have not heard or seen anything relating to digital insurance before not even here. If truly such exist could you please share us more information on it possibly their website so we could see for ourselves otherwise  I would have no option to believe it to be a scam and I will advise you to be careful when dealing with them if you already do.

[Coyster]

if you are not comfortable with KYC you can try https://localbitcoins.com/ but it's only for bitcoin

You didn't check the link that you just posted, LocalBitcoins closed earlier this year and they have discontinued their service, that's even the first thing you get to see when you click on the link that you shared above; at the time LocalBitcoins shutdown their operation, they were not even a peer to peer exchange because they do request for KYC, but that's not the point here anyway. AgoraDesk and Bisq are some of the options you should recommend as exchanges with no KYC policy.

[Obari]

As much as you can, please stay on guard this period because you already opened your door to scammers ad I’m sure by now they should have flooded your pm with a lot messages on investment and the rest of them but please I’m pleading that you shouldn’t fall for any of those messages as it is always very difficult not to  fall and just as other users have already advised that you create an account with an exchange and just send your coin and receive your money without any risk and avoid paying to any insurance company online.

[pakhitheboss]

You can have a Binance account or Kraken as they are available for Australian users so just need to go through all the KYC norms if you are comfortable with and have money transfered to your account directly by selling them on the exchange.Or if you are not comfortable with KYC you can try https://localbitcoins.com/ but it's only for bitcoin and if you are looking forward to trade some altcoins then you can specify them for better suggestions.But going through exchange is best instead of these insurance companies scam that will only drain your funds so be aware from them.

I am not sure why you are mentioning localbitcoins, you should be aware that they are no longer open. Before suggesting that exchange a quick visit using the same link that you have mentioned could have made you aware of the status of that exchange. It has been months since they stopped registering new customers. I am quoting what is mentioned on their home page.

Why I cannot register a new account?

LocalBitcoins has decided to stop providing Bitcoin trading services. New account registration was suspended on 2023-02-09.