However, it’s important to be aware of fraudsters. LocalBitcoins offer a good level of safety because of their escrow service. I bet you’re still a little confused as to what an escrow is, so let’s use an example: This keeps your Bitcoins locked until you confirm the payment has been received from the buyer. Mike puts his 1 Bitcoin into the escrow.John sends his request for 1 Bitcoin to Mike, and Mike accepts.John sees that Mike is selling 1 Bitcoin at a good price, and he also accepts bank transfer as a payment option.As he is from the UK, he searches for sellers in his country.
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That’s it! Now you know how to sell Bitcoin for cash using a P2P exchange! How to Cash out Bitcoin Using a Broker Exchange When Mike has received the payment, he releases the Bitcoins from the escrow, which is then sent to John’s account.John transfers the agreed amount into Mike’s bank account.This holds the Bitcoin until John transfers the money to Mike. So, now that you know the difference between the two favored methods, I will now show you how to withdraw Bitcoins to cash using broker exchanges!Ĭoinbase is the most popular broker exchange for buying and selling Bitcoin. Withdrawal Methods: Coinbase lets you sell Bitcoins for cash, which you can then withdraw into your bank account.They process more Bitcoin transactions than any other broker and have a massive customer base of 13 million. You can only cash out your Bitcoin into a bank account that you have already used to buy cryptocurrency on Coinbase. So, if you haven’t done this yet, I recommend purchasing a small amount of cryptocurrency first.
To make things a little easier for you, I will now show you how to cash out Bitcoin at Coinbase.ġ.
First, you will need to open an account with Coinbase, link your bank account, and make a deposit. If you need help on how to do this, view our guide here.
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#Wildstar 2 step verification mount how to redeem the mount how to If you have already done this, proceed to step 2!Ģ. Once you have set up your account, you will need to send your Bitcoin to your Coinbase Bitcoin address! To do this, click on the accounts tab, open your Bitcoin wallet, and click “ Receive”. You will then be shown your Bitcoin Coinbase wallet address. This is the address you need to send your Bitcoin to.ģ. Once you are all set up, click on Buy/Sell at the top of the page.ĥ. #Wildstar 2 step verification mount how to redeem the mount how to.