How do you withdraw your cryptocurrency from an exchange to a bank account

[MFahad]

I don't know much about your country but the better way is to do safe transaction without fear of freezing or any other issue which become headache in the future. We use P2P in our country as bank doesn't have any support to crypto related transaction. One Bank manager itself trader of crypto tokens, holding many coins but he warn me to never make direct crypto payment via bank. We should be very careful with this especially when crypto is not regulated. I think UK bank are not against crypto because it is advance country then why banks afraid to accept crypto transaction.

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[oktana]

P2P is the way to go pal! P2P means Peer to Peer, and that means that the person who wants  to buy your cryptocurrency will directly send the money to your account while you simply release the cryptocurrency to them. This way, the bank doesn’t know what money was sent to you or what for, it’ll be just a simple transaction like any other money you’d have received. Just make sure to tell the other person not to make it known that it is a cryptocurrency trade, some of these banks see crypto transactions as money laundering.

[Sophokles]

P2P is the way to go pal! P2P means Peer to Peer, and that means that the person who wants  to buy your cryptocurrency will directly send the money to your account while you simply release the cryptocurrency to them. This way, the bank doesn’t know what money was sent to you or what for, it’ll be just a simple transaction like any other money you’d have received. Just make sure to tell the other person not to make it known that it is a cryptocurrency trade, some of these banks see crypto transactions as money laundering.

This can be a good way for people whose banks don't allow them to do crypto or fiat direct transfers from centralized exchanges. But this can be risky as i have seen that some people are sending fake messages to their contract email or number that are similar to the messages they get from their bank account after depositing the funds. There is no way the exchange can verify those transactions so the seller or buyer should be careful before releasing the funds.

[Dunamisx]

Today i went to 5 banks to ask if they would be any problem withdrawing my crypto from an exchange to the bank. I let them know, i will have all the evidence they will need. they seemed very hostile to the topic of crypto. one bank went as far to tell me to not buy crypto.

You're almost close to putting yourself into trouble because has it  been that your country goes against the use of cryptocurrency they you might just have committed an offence purnishable out of ignorance, the network is p2p and you don't have to trust the person you're trading with, the exchange perform the transaction whole transparency to you both in serving as escrow, just follow the normal procedure in selling and that's all.

[Bushdark]

One of the ways to sell your cryptocurrency is through peer to peer. In this way, we can sell our cryptocurrency and wait for the the buyer to pay before we confirm the trades. We should also calculate well before we sell our cryptocurrency so that we don't sell before the market price go up which would have given us extra profits. Understanding the cryptocurrency market isnimport because that is what is going to help us to make good decisions and benefit from the market.

[Rengga Jati]

P2P is the way to go pal! P2P means Peer to Peer, and that means that the person who wants  to buy your cryptocurrency will directly send the money to your account while you simply release the cryptocurrency to them.

This can be a good way for people whose banks don't allow them to do crypto or fiat direct transfers from centralized exchanges. But this can be risky as i have seen that some people are sending fake messages to their contract email or number that are similar to the messages they get from their bank account after depositing the funds.

Exactlu, even though P2P is one of the most effective and safe ways to make transactions, especially making withdrawals to bank accounts, there are several things that must be paid attention to.

In this case, we have to find a P2P platform or platform that is truly trusted and reputable. So we won't be easily exposed to scams. Because no matter what, this is considered to be very risky of losing money. Not only that, scams using the P2P offering method are also widespread, so we must be careful in choosing the most reputable one.

If we want, there are actually several trusted members here who provide P2P services, so we can take advantage of this, so make sure that the member has a good reputation. It is indeed quite difficult if the country still prohibits Bitcoin or crypto transactions in any form. But fortunately, there are still several gaps so you can optimize it and still be able to withdraw.

[Sophokles]

P2P is the way to go pal! P2P means Peer to Peer, and that means that the person who wants  to buy your cryptocurrency will directly send the money to your account while you simply release the cryptocurrency to them.

This can be a good way for people whose banks don't allow them to do crypto or fiat direct transfers from centralized exchanges. But this can be risky as i have seen that some people are sending fake messages to their contract email or number that are similar to the messages they get from their bank account after depositing the funds.

Exactlu, even though P2P is one of the most effective and safe ways to make transactions, especially making withdrawals to bank accounts, there are several things that must be paid attention to.

In this case, we have to find a P2P platform or platform that is truly trusted and reputable. So we won't be easily exposed to scams. Because no matter what, this is considered to be very risky of losing money. Not only that, scams using the P2P offering method are also widespread, so we must be careful in choosing the most reputable one.

If we want, there are actually several trusted members here who provide P2P services, so we can take advantage of this, so make sure that the member has a good reputation. It is indeed quite difficult if the country still prohibits Bitcoin or crypto transactions in any form. But fortunately, there are still several gaps so you can optimize it and still be able to withdraw.

P2P can be the most troublesome method to sell your crypto to fiat if you fail to take countermeasures to prevent any fraudulent activities. Like I mentioned in my earlier comments, sometimes scammers send fake transaction messages to sellers so that unaware sellers release the funds without cross-checking the account balance online. If we need to have a trusted P2P platform where they charge a percent of transaction volume as fees then what is the point of using P2P methods if we are using an intermediary?

[oktana]

P2P is the way to go pal! P2P means Peer to Peer, and that means that the person who wants  to buy your cryptocurrency will directly send the money to your account while you simply release the cryptocurrency to them. This way, the bank doesn’t know what money was sent to you or what for, it’ll be just a simple transaction like any other money you’d have received. Just make sure to tell the other person not to make it known that it is a cryptocurrency trade, some of these banks see crypto transactions as money laundering.

This can be a good way for people whose banks don't allow them to do crypto or fiat direct transfers from centralized exchanges. But this can be risky as i have seen that some people are sending fake messages to their contract email or number that are similar to the messages they get from their bank account after depositing the funds. There is no way the exchange can verify those transactions so the seller or buyer should be careful before releasing the funds.

That’s now going to be blamed on the person receiving the money and not on the P2P system. A platform like Binance clearly warns its users to never release cryptocurrency to the buyer until they have confirmed that the exact amount for the cryptocurrency being traded has been deposited into their bank. Don’t go checking your email or a text message, you should check your bank balance or even consult your bank manager (for those who do)

[LesterD]

Today i went to 5 banks to ask if they would be any problem withdrawing my crypto from an exchange to the bank. I let them know, i will have all the evidence they will need. they seemed very hostile to the topic of crypto. one bank went as far to tell me to not buy crypto.
I came across a lovely lady Today in the bank and she honestly let me know that i should not withdraw my crypto and deposit it to the bank because the bank will freeze the account even if you have evidence, because they do not know how to deal with the asset. I am from the United kingdom and would like to know the safest way to withdraw my crypto and put it in a bank

thank you for your comments

I've been using p2p to withdraw my funds from crypto. There are CEX that offers p2p like Binance, bybit, and kucoin. You may try to check the banks accepted on those exchanges that you can use or accept in your country. That way, you can easily withdraw your funds without being questioned by the bank.

Also, you don't have to go to different banks to discuss things such as withdrawing money from crypto to your bank. You will only let other people have their eyes on you. This is based on my experience.