How To Easily Transfer Your Cryptocurrency To Your Bank Account: A guide on how to transfer your cryptocurrency from your exchange wallet to your bank account.
1. Go to the withdrawals page on the exchange that you have your cryptocurrency on.
2. Add a new withdrawal address with the following info:
3. Click “Add”. Make sure this is correct! You don’t want to send it to the wrong place!
4. Withdraw from your exchange account into your bank account. This can take up to 5 days, but for most people it only takes about a day or two for the money to appear in their bank account.
The crypto market has been on fire lately. While the crypto market is still new to the game and most people don’t know how to transfer their crypto to their bank account, it’s actually very easy.
This article will outline how you can transfer your cryptocurrency from your exchange wallet to your bank account.
Go to the exchange that you are holding your crypto at. For example, if you have 0x (ZRX) in your Coinbase wallet, then go to Coinbase.com and sign in.
Go to the “Accounts” tab on Coinbase and click on “Send.” You will see a screen that looks like this:
You will want to make sure that you are sending your coins off of the exchange (in this case Coinbase) and onto a different exchange (such as Binance). So if you are sending 0x (ZRX), then you will put in the address of your 0x wallet on Binance as the “Destination Address.” For Ethereum, copy and paste the address shown
The purpose of this guide is to explain how to transfer your cryptocurrency from an exchange wallet to a personal wallet for long term storage. This guide assumes you have already purchased your cryptocurrency and are ready to move it off the exchange.
Why transfer your cryptocurrency:
The main reason you would want to move your cryptocurrency off an exchange is to protect it from a hack or loss of funds. Cryptocurrency exchanges are susceptible to hacks and loss of funds as we have seen in the past with Mt Gox, CoinCheck, Cryptopia and many others. Furthermore, they can freeze your account just because they feel like it. There are many stories of people losing their coins on exchanges and not being able to get them back. In order to mitigate this risk you should look into moving the majority of the coins you own off the exchange and into a secure hardware wallet (if applicable) or paper wallet for long term storage.
Secure wallets vs Non-secure wallets:
A non-secure wallet is any online service that stores your private keys for you. This includes desktop wallets such as Exodus, full node wallets such as Bitcoin Core, mobile wallets such as Mycelium, multi-signature wallets such as Copay and most web based wallets. The
If you have been in the crypto-space for a while, you should be familiar with the phrase, “Don’t keep your coins on an exchange”. This is because if you don’t control the private keys to your cryptocurrencies, then you are at risk of losing them.
So what is the solution? Transfer them to a wallet that you control.
I don’t mean a software wallet like Exodus.io or Coinomi. I mean a hardware wallet like Ledger Nano S or Trezor. These are offline wallets that keep your private keys out of reach from hackers.
But what if you wanted to cash out your cryptocurrencies? How do you transfer cryptocurrency to your bank account? Do you need to sell it for fiat currency first?
The answer is YES, but there is no easy way to do it directly. You need to sell your crypto for fiat through an exchange and then withdraw the fiat currency back into your bank account.
In this post, I will show you how I transferred my cryptocurrency from Binance to my bank account using Coinbase Pro (formerly GDAX). The process may vary slightly depending on which exchanges you use.
Upon purchasing cryptocurrency, one of the most common questions is “How do I cash out?”
Whether it’s because you’re looking to make some quick money, or you want to move your money out of the exchange into a wallet you control, cashing out cryptocurrency can be a pain.
This guide will cover your options on how to cash out your cryptocurrency and what to consider when doing so.
Ready? Let’s get started…
Cryptocurrency has become a household name, with the total market cap of all the cryptocurrencies in circulation currently standing at around $208 billion.
This is a very significant rise over the past 5 years since Bitcoin was introduced to the world in 2009. The total market value of all cryptocurrencies was just above $0.05 billion in 2013 and just above $30 billion in 2017.
With such interest shown by investors, it wouldn’t be surprising if you are also interested in acquiring some cryptocurrency for yourself. However, you need to know how to make payments with this cryptocurrency once you own it.
For those who have no clue what I’m talking about, cryptocurrency is a virtual asset that can be used as a medium of exchange for goods and services using cryptography for security when making payments or transactions.
There are currently over 1,500 cryptocurrencies or digital assets that have their own unique blockchain and have been created from scratch. Most of these cryptocurrencies have been created from a process called “mining”, which involves solving complex mathematical problems that are used to verify transactions made using that particular cryptocurrency.
The most popular cryptocurrencies are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC).