Many of those involved in financial transactions related to cryptocurrency prefer to save their assets. And this is understandable - after all, the cost of bitcoins is gradually growing, and it is likely that in a few years they will become the most expensive currency in the world. But in order to be able to spend cryptocurrency, it must be converted into a fiat equivalent and cashed out. The rest of the article talks about how to withdraw cryptocurrency and what are the ways for this.
Placement of funds
In order to correctly perform the process of withdrawing funds, you need to know how and where to do it. For this period, you can store bitcoins in several ways:
- In online storage.
- On a hardware wallet.
- On a stock account.
Based on where the assets are stored, the method of cashing out is selected.
Exchangers
Thinking about how to withdraw cryptocurrency? Most Bitcoin owners prefer to use exchangers and other similar resources for this purpose. These are special services where, for a certain amount of commission, you can transfer cryptocurrency to any fiat equivalent. After this, the funds are easily withdrawn to any bank card or electronic wallet. And about how to bring cryptocurrency to the exchange, read below.
Each exchange service has its own characteristics, but basically the operation algorithm consists in the following steps:
- The choice of exchanger. For this purpose, it is recommended to use the monitoring service BestChange.ru. The portal provides information on pairs, minimum amounts and fees for the operation.
- Select a currency and indicate the amount to exchange.
- Filling in personal data: email address, initials, card number, etc.
- Re-entering the amount for the exchange, as well as the purse number for the MTC, from which funds will be debited.
- Entrance to the Bitcoin wallet, filling out the application and its payment.
- Confirmation of the operation and the expectation of receipt of money in the account.
As for the term for crediting funds to a bank card or electronic wallet, it all depends on the exchange service. The maximum period is about an hour, but, as a rule, the operation takes no more than 5-10 minutes. Delays are extremely rare.
Exchange withdrawal
Still how to withdraw cryptocurrency? It is advisable to withdraw bitcoins through exchangers when the financial mass is transferred from the wallet to the fiat money system or to the card. If the crypto is stored on the exchange, the process becomes even simpler. To cash out funds, you do not need to attract third parties, perform additional operations and other actions. Despite the fact that each exchange has its own rules, the principle for all of them is the same:
- Registration on the selected exchange.
- Go to the "wallets" section, select the MTC currency and select the checkbox next to the account replenishment icon.
- Transaction of bitcoins to the exchange wallet and waiting for their enrollment.
- Creating an order to sell bitcoins. This step is possible only after receipt of funds in the account.
- Selling cryptocurrencies and earning rewards.
- Withdrawing money received for the sale of bitcoins to a bank card. At this stage, some will have a question about how to display cryptocurrency on a card. To do this, check the box next to the "withdraw money" button, located near the desired currency (rubles, euros, dollars, etc.).
- Filling out information about the card, on which funds must be received.
- Waiting for money to be credited.
Some exchanges set a limit on the withdrawal amount.The rule does not apply to all services, but it works on one of the most popular Exmo exchanges.
Direct exchange
Not sure how to withdraw cryptocurrency? This can be done through direct exchange. This means that intermediaries in the form of various exchanges and exchange services do not participate in the process. Currency exchange is carried out "from hand to hand." But you must understand that this is quite risky.
To at least partially secure the participants, the LocalBitcoins platform was created. Many equate it with the exchange, but the principle of action is different. The system acts as a kind of intermediary between two users, one of whom wants to sell cryptocurrency, and the second to acquire. The transaction itself is performed not only on the service, but also through personal interaction or by any other convenient means. Let's consider in more detail how to display cryptocurrency on a card in this way:
- Register on localbitcoins.net.
- Transferring bitcoins to a system wallet.
- Go to the "bitcoin sale" tab, then press the "show more" key and select "transfers through a specific bank" from the list that opens.
- User selection for the transaction.
- Sending a request for an operation indicating the amount and number of your card for transferring funds.
- Receiving the money.
Benefits
As soon as the seller sends money to a bank card, the bitcoins withdrawn from the blockchain are thawed. They are redirected to the account of the second participant. It is quite difficult to carry out fraudulent actions in the system. It is impossible to create a request without cryptocurrency, and the second party to the transaction will not be able to receive anything until the funds are transferred.
At the end of the transaction, it is necessary to leave a response on cooperation with the person. This is an important point, since most of the users focus on feedback.
Wirex
If you are looking for a convenient way to withdraw cryptocurrency in rubles, then the Wirex service may interest you. It allows you to perform an operation without involving third-party participants. To use this method, you need to issue a special card. It will be integrated with Blockchain's electronic wallet.
The Wirex platform combined the capabilities of a bank card with a blockchain. Thanks to this, a person who owns special plastic can easily withdraw cash at any ATM working with Visa / MasterCard systems. So, how to display cryptocurrencies on a card? Let's consider in more detail:
- Registration on the Wirex service.
- Card selection - real or virtual.
- Getting a bank card and linking to the wallet on which bitcoins are stored.
- Filling out an application for withdrawal of funds and confirmation of the procedure.
Money is credited to the account instantly, in less than a minute. After that, they can be removed at any ATM.
Webmoney
Some users do not accept the WebMoney system due to the fact that it is too confused and difficult to understand. To some extent this is true, but do not forget that WebMoney is considered one of the most reliable sites. In addition, there is a peculiarity in it - the system has an analogue of bitcoins. In an electronic wallet, you can store cryptocurrency in the form of WMX title units. True, there is one caveat - one bitcoin equals thousands of WMX. Consider how to withdraw cryptocurrency to a WebMoney wallet:
- Registration on the service and obtaining a formal certificate.
- WMX wallet design.
- Account replenishment by pressing the "replenish" key.
- Transferring bitcoins from the previous storage location to the new WebMoney wallet.
- Do not know now how to withdraw cryptocurrency in rubles? It is necessary to exchange WMX-coins for WMR. To do this, enter the required amount in a special window, enter captcha or characters sent to SMS. Please note that the service charges a commission for the operation.
- Make a withdrawal to a bank card.
Commission
For the last step, you will need to pay a fee in the amount of 2% of the amount again.You can withdraw money to any plastic card, but it is most reliable to use the one that is tied to your WebMoney account. In order to be able to withdraw funds, you will need to issue a wallet in the currency you need and click on the "withdraw money" button. In the window that appears, enter the requested data: correspondent account, BIC, TIN of the bank, account number and amount. After that, the transfer will be verified and, if everything is correct, it will be sent.
You will have to pay a commission for withdrawing funds to the card. Depending on the type of card, a fee of 2-3% is charged. Moreover, 1-2% is the commission for the operation, and the rest is the standard fee from the WebMoney service.