How long does it take to withdraw Bitcoin to bank?
Withdrawing Bitcoin to a bank account is a relatively simple process that can be completed in several different ways. Depending on the service you choose, the process can take anything from minutes to days. In this article, we will explore the different methods of withdrawing Bitcoin to your bank account and the approximate timescale for each one.
Using an Exchange
One of the most popular and convenient ways to withdraw Bitcoin to a bank account is by using an exchange. Exchanges such as
Coinbase,
Binance, and
Kraken offer a range of services for converting Bitcoin into fiat currency. The process is relatively straightforward and can take anywhere from a few minutes to several days, depending on the exchange.
The amount of time it takes to withdraw your funds will depend on a variety of factors, including the exchange's verification process, withdrawal limits, and processing times. Generally, however, you should expect to receive your funds within a few days.
Using an ATM
If you need access to your funds quickly, one of the fastest ways to withdraw Bitcoin to your bank account is by using a Bitcoin ATM. These ATMs are located in many cities around the world and allow you to quickly and easily withdraw funds from your Bitcoin wallet to your bank account.
The process is relatively simple and can take as little as a few minutes. However, there are some downsides to using a Bitcoin ATM. These include the fact that the fees are often higher than those associated with exchanging Bitcoin on an exchange, as well as the fact that not all ATMs support the same currencies.
Using a Payment Processor
Another option for withdrawing Bitcoin to a bank account is to use a payment processor such as PayPal. Payment processors allow you to quickly and easily transfer funds from your Bitcoin wallet to your bank account.
The process is relatively straightforward and can take a few minutes to a few days, depending on the payment processor. Fees and processing times can vary depending on the payment processor, so it’s important to do your research before choosing one.
Conclusion
Withdrawing Bitcoin to a bank account is a relatively simple process that can be completed in a variety of ways. The amount of time it takes to withdraw your funds will depend on the service you choose, so it’s important to do your research before deciding which one to use.
Video Link
For a detailed overview of the process, check out this video from Crypto-Bits: