Are you the lucky one who is in the possession of the ‘mighty’ cryptocurrency called Bitcoin? If so, I have to congratulate you! Currently, we’re halfway 2019, and so far Bitcoin made some good profits in USD price. If you are in big need of some fiat money and want to cash out some profits this could be a good moment. Most people who own Bitcoin bought it at a cryptocurrency exchange, because it’s the most cheapest way to acquire cryptocurrency. To cash out some profits, one has to withdraw Bitcoin to a bank account. In this article, I’ll handle 5 exchanges which are most helpful in withdrawing Bitcoin to a bank account.
1. Bitpanda
Bitpanda GmbH (formerly known as Coinimal) is a fintech company based in Vienna, Austria specializes in selling and buying Bitcoin and other cryptocurrencies. It has quickly grown to become Europe’s leading retail broker for cryptocurrencies. With over 900K users the company has recently expanded its services to allow users to invest in precious metals (gold, silver) as well.
The company was founded in late 2014 and has since grown to become one of the more popular options to purchase Bitcoins around Europe. Moreover, if you live inside the EU it’s one of the cheapest ways to buy Bitcoin with a credit card or SEPA transfer.
How to withdraw Bitcoin to bank account
Bitpanda offers withdrawals in EUR and Swiss Franc and British pound. Processing withdrawals to banks takes 1 business day on average. It totally depends on the payment method. In addition, the following payment methods are supported:
- GIROPAY/EPS
- SOFORT
- NETELLER
- Skrill
- Zimpler
- Visa and Mastercard
The processing of withdrawals takes about 1 business day, but there are some limits which depends on the type of verification the user has chosen when signing up. Below in the table an overview for EUR.
| Bank transfer(SEPA) | Unverified | Light verification | Verified |
| Withdraw | Withdraw | Withdraw | |
| Daily limits(24h) | 1.000(EUR) | 500.000(EUR) | 5.000.000(EUR) |
| Monthly limits | 7.500(EUR) | 5.000.000(EUR) | 5.000.000(EUR) |
| Total limits | 30.000(EUR) | 10.000.000(EUR) | 10.000.000(EUR) |
2. Coinbase
Coinbase is a secure online platform for buying, selling, transferring, and storing digital currency. Their mission is to create an open financial system for the world and to be the leading global brand for helping people convert digital currency into and out of their local currency. In addition they offer:
- Trading cryptocurrency is very easy and straightforward
- Sending or receiving crypto on wallets at their platform is totally free
- They guarantee that your stored crypto is safe
- Very easy to use and intuitive interface
- Their API is used by many other applications
Withdraw Bitcoin to bank account
US Customers
When you place a sell order or withdraw USD to a US bank account, the money usually arrives within 1-2 business days. As a result, the delivery date will be shown on the trade confirmation page before your order is submitted. You can track the expected funds to arrive on a special history page. If you reside in one of the states that support the Coinbase USD Wallet, sells into your USD Wallet will occur instantly.
European customers
Since your local currency is stored within your Coinbase account, all buys and sells occur instantly. Moreover, withdrawing to your bank account via SEPA transfer generally takes 1-2 business days. Withdrawal by wire should complete by the next business day.
United Kingdom customers
Since your local currency is stored within your Coinbase account, all buys and sells occur instantly. Withdrawing to your bank account via GBP bank transfer generally completes within a business day.
Wire withdrawals from Coinbase
Wire withdrawals are available for amounts of $25,000 or more. Once you complete the verification steps to activate a USD Wallet and verify your wire withdrawal information, you can withdraw funds from your USD Wallet via bank wire.
3. Bitfinex
Bitfinex, founded in 2012 and operates form Hong Kong. In the first place, it’s a cryptocurrency exchange providing advanced services for digital currency traders and liquidity providers. Bitfinex is the world’s most advanced cryptocurrency exchange and the world’s largest exchange by volume for trading Bitcoin against the U.S. Dollar. Bitfinex also facilitates the trading of many other altcoins.
This very modern cryptocurrency exchange is based upon 3 features.
Exchange trading
At the heart of Bitfinex are central limit order books for the spot trade of digital tokens. As aresult, users can deposit, trade, and withdraw digital tokens.
Margin trading
Bitfinex allows qualified users to trade with up to 3.3x leverage, receiving financing with the help of our margin funding and peer-to-peer financing platform. When opening a financing position, users can manually enter a funding order to receive the desired amount of financing, at the rate and duration of their choice. Alternatively, users can open a financed trading position and Bitfinex will automatically link them with peer-to-peer financing at the current prevailing rate.
Margin funding
The P2P financing market provides users with a way to earn interest on their digital assets through lending out their funds to other users who want to trade with leverage.
How to withdraw Bitcoin to bank account
To withdraw fiat currencies (USD, EUR, GBP, JPY), your account first needs to be verified. After verifying your account, simply make your way to the withdrawal page, pick a currency (USD, EUR, GBP, JPY) and fill in your wire information (name, address and banking details).
The fee structure for withdrawing fiat currencies is 0.1% of the amount withdrawn, with a minimum $60.00. Standard withdrawals are processed within 5-15 days.
Express fiat withdrawals are processed with 24 hours (or 1 business day), at a fee of 1.00% of the withdrawn amount.
4. Bittrex
The company was founded in 2013 by Bill Shihara and two other business partners. The founders had previously worked as security experts for Microsoft before deciding to open up a cryptocurrency exchange. In addition, Bittrex is based in the US but is not regulated by US securities law.
Bittrex, once one of the largest cryptocurrency exchange in the world has lost some of its customers to big competitors Binance and Coinbase. Still, the cryptocurrency exchange has some decent volume and is also a very trustworthy place to trade.
Furthermore it is a cryptocurrency trading exchange which is mostly target to North American citizans(USA and Canada). Moreover they only support USD as a fiat currency.
How to withdraw Bitcoin to bank account
First of all this exchange can only offer withdrawals to US customers only. Therefore, you should have a bank account at a bank which resides in the USA. To do so Bittrex has to approve your bank first. As a result you have to deliver the following:
- Your name on your bank account
- Your bank account number
- Bank name
It’s also possible to add more banks to your Bittrex account which follows the procedure as stated above.
5. Kraken
Kraken is an exchange which operates on the European markets mostly. As a result, their volume in the BTC/EUR pair can be considered as the largest in the world. Because of their high volume in this pair it’s possible to trade in the most common cryptocurrencies Bitcoin, Ethereum, Bitcoin Cash, Litecoin and many others. One of the most remarkable things about Kraken is that they also offer the ability to lend out your coins and return interest on it.
Although their biggest volume is on the BTC/EUR trading pair, this doesn’t mean trading with other fiat-currencies isn’t possible. Currently, the most traded fiat currencies in the world(USD, EUR, GBP, JPY and CAD) are supported.
How to withdraw Bitcoin to bank account
Below is an overview of withdrawal options and their minimums, fees, and processing times. All options involve some form of bank or wire transfer. In the table below the EUR withdrawal options.
| Availability | Method/partner | Withdrawal minimum | Withdrawal fee | Processing time |
| SEPA only | SEPA-Fidor | 5 EUR | 0.09 EUR | 1-5 business days |
| SEPA only | SEPA-Etana custody | 150 EUR | 35 EUR + 0.125% | 1-5 business days or instant |
| Worldwide | SWIFT-Fidor | Not available | Not available | Not available |
| Worldwide | SWIFT-Etana custody | 150 EUR | 35 EUR + 0.125% | 1-5 business days or instant |
| Liechtenstein only | SEPA-Banck Frick | 100 EUR | 1 EUR | 1-5 business days |
Disclosure: This post could contain affiliate links. This means I may make a small commission if you make a purchase. This doesn’t cost you any more but it does help me to continue publishing cool and actual content about Bitcoin & Crypto – Thank you for your support!
- 5 Crypto Coins That can be Staked with Ledger - November 27, 2021
- Exclusive: Best places to buy NFTs on Solana - November 11, 2021
- 3 Smart Ways to Cash out Crypto from Metamask - November 2, 2021