5 Ways You Can Withdraw Bitcoin

Launched in 2009, Bitcoin is the most popular digital asset available in the world nowadays. Given the fact it was the first of all cryptocurrencies, it has been on the top for over a decade, as no other crypto has been able to take it down.

In this article, we will present 5 easy ways to withdraw Bitcoin for cash using only a digital wallet and choosing an exchange with a low-rate withdrawal fee, so you can buy bitcoin and sell it easily.

Best Exchanges to Withdraw Bitcoin – Binance

Founded in 2017 by Changpeng “CZ” Zhao, Binance is currently the largest cryptocurrency exchange in the world considering its daily trading volume. Established in the Cayman Islands, Binance allows users to trade thousands of cryptocurrencies using a seamless interface.

Undoubtedly, the most traded asset in Binance’s exchange is Bitcoin. Also, users in the platform have access to a native wallet pegged to their profiles, although they can send their funds into an external wallet (e.g., Ledger).

Due to regulatory issues, Binance has two different interfaces – Binance US and Binance (global). Either way, withdrawing Bitcoin is easy in both versions, especially using the tutorials available.

Currently, Binance US has a 0.0005 BTC ($16.24) withdrawal fee, with a minimum withdrawal amount of 0.001 BTC ($ 32.48). On the other hand, Binance (global) has a 0.00057 BTC ($18.51) withdrawal fee, with a minimum withdrawal amount of 0.0011 BTC ($35.73).

Best Exchanges to Withdraw Bitcoin – CoinFalcon

UK-based CoinFalcon is a decentralized cryptocurrency exchange launched in 2017. The platform allows traders to buy, sell, and swap different digital assets, which includes Ethereum, Litecoin, XRP, and – of course – Bitcoin.

See also  Biden's America is looking for its place in the world

The platform was designed to deliver an updated experience for everyone, meaning traders can onboard it for instant transactions. Also, it offers tools and functionalities for advanced cryptocurrency traders.

After subscribing to the platform and creating a profile, you can easily buy or store Bitcoin using your wallet. Withdrawing your cryptocurrencies is also an intuitive experience, especially using CoinFalcon’s app (IOS/Android).

Currently, CoinFalcon has a 0.0001 BTC ($3.25) withdrawal fee, with no minimum withdrawal amount.

Best Exchanges to Withdraw Bitcoin – Huobi Global

In terms of Bitcoin operations, there is no crypto exchange bigger than Huobi Global. Users can trade more than 300 different digital assets using the platform, trading with up to 5x leverage for spot trading.

Also, users are allowed to use their credit cards to buy cryptocurrency. One of the great concerns of the platform is customer security, as it relies on a unique system to hold client funds in dedicated multi-signature cold wallets with 24/7 monitoring.

It is not hard to withdraw Bitcoin using Huobi’s seamless platform, especially if you are a beginner. Currently, Huobi Global has a 0.0004 BTC ($12.99) withdrawal fee, with no minimum withdrawal amount.

Best Exchanges to Withdraw Bitcoin – Bitfinex

Bitfinex is one of the world’s leading cryptocurrency exchanges. Owned and operated by iFinex Inc., the company has headquarters in Hong Kong but is registered in the British Virgin Islands.

Founded in 2012 as a P2P (peer-to-peer) Bitcoin exchange, currently, Bitfinex’s users can trade a wide array of assets using the platform’s interface. It is worth noting that the company behind Tether (UDST) is closely associated with Bitfinex.

See also  Macron accuses Macron of "talking nonsense" about soybeans

Bitfinex offers a wide array of products in its platform, which includes also includes products for lenders like crypto lending and borrowing services. The most-traded asset pair in the platform is BTC/USD, with a daily volume of +$1,000,000.

Currently, Bitfinex has a 0.0004 BTC ($12.99) withdrawal fee, with no minimum withdrawal amount.

Best Exchanges to Withdraw Bitcoin – Kraken

Established in the San Francisco Bay Area (US), Kraken is a cryptocurrency exchange founded in 2011. Considered one of the most important Bitcoin exchanges in the world, Kraken provides crypto-to-fiat trading, also providing cryptocurrency price information to Bloomberg Terminal.

The platform offers several beginner instructional resources to guide novice traders and crypto enthusiasts to find their way through the crypto market. So far, the company offers more than 50 options of cryptocurrencies that users can buy, sell or trade instantly.

Many people like Kraken’s platform to deposit their money, buy Bitcoins and then cash out the funds in fiat currency. Deposit options for US residents include Fedwire, SWIFT, Etana Custody, and Silvergate Exchange Network (SEN).

Currently, Kraken has a 0.00015 BTC ($4.87) withdrawal fee, with a 0.0005 BTC ($16.24) minimum withdrawal amount.

Final Thoughts

The most popular – and easiest – way to withdraw Bitcoin for cash is using an exchange with a good reputation, low fees, and instant user experience. Before cashing out your Bitcoin funds, it is crucial to calculate any transactions fees involved, regardless of the exchange option.

While many crypto exchanges offer both spot and p2p wallets on their platforms, you can transfer it to an external wallet address of your choice (and vice-versa).

See also  Trump's Corona Virus Adviser - Everyone is talking about this irresponsible tweet from PGR

You May Also Like

About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

Leave a Reply

Your email address will not be published. Required fields are marked *