How to get bitcoin into my bank account in actual cash

Please note this sub-forum does not provide professional finance advice. You should seek advice from a licensed financial advisor.

To post in this sub-forum you must have made 100 posts or have Trust status or have completed our ID Verification.

If investing please consider our affiliate link for new accounts: Sharesies.

Forums › Finance and wealth management › How to get bitcoin into my bank account in actual cash

Yorkshirekid

193 posts

Master Geek
+1 received by user: 10

#304611 20-May-2023 18:16

A few years back I bought some bitcoin and now I want to get it into my bank. I have no clue how.

I'm with localBitcoin, who have now ceased trading, and I have a limited time to withdraw. But they make it SUPER HARD to get the bc out. I have done three tiers of verification and I think I'm now ready to withdraw.

The image shows where I am at. I can put the code into the receiving address which then takes me to the Receive tab. I don't know what to do after that?

[IF YOU DON'T KNOW, YOU DON'T KNOW]

Gurezaemon

~HONYAKKER!~
1433 posts

Uber Geek
+1 received by user: 1609

ID Verified

Lifetime subscriber

#3078105 20-May-2023 18:33

If localBitcoin is being a pain, I'd suggest shifting the coin to somewhere else a little easier to use, and then go from there. You'll pay a very small amount for the transfer, but it may be worth the reduced hassle.

I use Swyftx which seems pretty solid, but that's just one option.

Get your business seen overseas - Nexus Translations

freitasm

BDFL - Memuneh
80938 posts

Uber Geek
+1 received by user: 41669

Administrator

ID Verified

Trusted

Geekzone

Lifetime subscriber

#3078121 20-May-2023 19:23

What I've done to withdrawal a cryptocurrency balance:

Coinbase account with proof of id
Transfer Bitcoin to Coinbase
Register a debit card with Coinbase (in my case Wise (aff link))
Sell the Bitcoin with credit going to your debit card.

The money shows up in the Wise balance in a few minutes. From there you can send the money to your bank account, or use the card to withdrawal at ATM. You can use any debit card (credit cards are not accepted).

You can transfer the Bitcoin from your current place to Coinbase, while id verification is proceeding. You won't be able to withdrawal the money straigh away but it will be somewhere else before your current wallet closes.

Referral links: Quic Broadband (free setup code: R587125ERQ6VE) | Samsung | AliExpress | Wise | Sharesies

Support Geekzone by subscribing (browse ads-free), or making a one-off or recurring donation through PressPatron.

Linux

12360 posts

Uber Geek
+1 received by user: 8650

Trusted

Lifetime subscriber

#3078130 20-May-2023 20:37

How much is that bc worth in NZD?

Oblivian

7374 posts

Uber Geek
+1 received by user: 2143

ID Verified

#3078132 20-May-2023 20:50

Linux: How much is that bc worth in NZD?

When.you chuck it in google it calcs to local

Approx $3.3k

ANglEAUT

altered-ego
2472 posts

Uber Geek
+1 received by user: 865

Trusted

Lifetime subscriber

#3079051 23-May-2023 15:28

https://easycrypto.com/nz are also super easy to use.

They'll let you create a BC address that you can shift your BC across to. Maybe first try to simply add your BC address in easycrypto.com & if the balance updates, try to sell.

Please keep this GZ community vibrant by contributing in a constructive & respectful manner.

concordnz

493 posts

Ultimate Geek
+1 received by user: 277

Trusted

EMT (R)

#3079055 23-May-2023 16:20

+1 for easycrypto.
Get setup with them, and you can have the funds in your bank in about 1hr.

No faffing around.

Plus its a New Zealand company and there's 'real' people that can help you if anything goes wrong.

New World

Shop on-line at New World now for your groceries (affiliate link).

concordnz

493 posts

Ultimate Geek
+1 received by user: 277

Trusted

EMT (R)

#3079056 23-May-2023 16:21

Or download bitcoin core wallet to your Windows PC and send it to your then personal wallet.