Its your girl Maria! Here to deliver your daily dose of Bitcoin news.
There are several different payment methods to use to withdraw your bitcoins earned from peertopeer platforms. How? You can sell them and select the payment method that you prefer. Once the money is transferred you could easily withdraw your money. Keep in mind that well be tackling this in general and certain steps may vary depending on where you are and what company you are using to withdraw.
So lets jump right into the first method. Number one: Bank Transfers To get money into your bank account, you need to sell your bitcoin. Paxful is one of the biggest peertopeer trading platforms where you can buy and sell bitcoins. Once you have an account on Paxful and have bitcoins to sell, simply start a trade and choose bank transfer as a mode of treatment.
Next, the seller, a.k.a. you, needs to provide details such as your full name and bank account number. You then need to wait for your buyer to make a transfer to your bank account. Usually for Nigerians, the seller needs to wait for an SMS alert indicating a successful transfer before releasing the bitcoins. If the money comes through and its in your bank account, you can easily withdraw using your banks ATM.
Number two: Paypal In order for a trader to make a payment to your PayPal account, youll need to provide your email address. For safety reasons, make sure that the person youre trading with has a verified PayPal account so that youll have their details too. Next, wait for them to send proof of payment. If youre in the USA youll receive the funds much quicker, usually within the day.
But if youre located in another country, its gonna take 34 days mainly because you have to request conversion from USD to your countrys currency. Once they do that, you now have money in your PayPal account. Simply transfer the money to your bank account and withdraw over the counter or through an ATM.
Number three: Western Union You will have to ask your trade partners for the Money Transfer Control Number, or MTCN which is a 10 digit reference code. You could also ask for a full photo of the Western Union receipt as proof. Once you get the code, you can use this to track your money through Western Unions website and cash out at any branch near you. Dont forget to bring a valid photo ID when you visit and fill out the receive money form. You can now withdraw your money just like that!
Number four: Bitcoin ATMs This can be a bit tricky. Once you have set this up as your preferred payment method, you need to decide when and where you want to withdraw your money. To find a Bitcoin ATM near you, you can use CoinAtmRadar.com.
Once you found one, you need to talk to your trade partners so they can send the amount of bitcoin directly to the ATM that you chose. This is where the tricky part is. They need to send it while youre working on the ATM. So timing is the key.
Keep in mind that the withdrawal process varies from ATM to ATM, but heres a general idea on how to do it. Number one: Choose the withdraw cash option Number two: Choose Bitcoin Number three: Choose the amount you wish to withdraw Number four: Send Bitcoins to the given address or QR code from your mobile wallet And number five: Collect your cash Check out wethecryptos.net for the article and article we have explaining this process in detail. Do you know any other ways to withdraw bitcoin?
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