How to withdraw money from a bitcoin wallet: ways

In 2017, the value of cryptocurrency reached its historical maximum. On October 20 of this year, bitcoin reached six thousand dollars, and its capitalization - the total market value of securities - is already $ 99.7 billion, which exceeds the corresponding figure for most companies in the world.

Bitcoin Legal Status

Financial institutions of Russia, Ukraine, Belarus and the near abroad do not work with bitcoin and other cryptocurrencies. In Russia, there are no restrictions on the use of such currencies, however, the Deputy Minister of Finance at first demanded a punishment for the use of bitcoin and its analogues by individuals and legal entities. The legal status of cryptocurrencies in the Russian Federation is still being actively discussed, the legislative framework on this issue has not yet been finalized.

In Ukraine, at the highest level (on behalf of the National Bank) they warn that the use of digital currencies and the withdrawal of money from a bitcoin wallet are fraught with great risks and the possibility of losing confidential information. Bitcoin in the country is not considered legal tender. Today's legislation already regulates the process of mining and exchanging cryptocurrencies (these operations are taxed), but the issue of recognizing bitcoin as a program code, which is a private property, is still under consideration.

In the legal field of Belarus, the attitude towards bitcoin has not yet been determined in any way. A currency is not considered either money, or a unit of value, or an object of ownership, or a security, or an asset. There is no practice on the use of digital money in the country, some analysts are even inclined to argue that for the government of the Republic of Belarus bitcoin in principle does not exist. However, it is not recognized in the country as legal tender.

Cryptocurrency cashing

Since the status of the digital currency in the legal field of the nearest states is not yet clearly indicated, users who managed to earn money have questions about the withdrawal of bitcoins and exchange for national currencies. Today, not many people know how to withdraw money from a Bitcoin wallet.

The main methods are limited to the following options:

1. To a bank card of any bank through a special online exchanger.
2. To electronic payment systems or a plastic card through exchange platforms.
3. WMX withdrawal to the Russian wallet in the WebMoney system.

So far, these are all options for withdrawing money from a Bitcoin wallet to a card or electronic payment system accounts like Qiwi, WebMoney or Yandex.Money.

Currency withdrawal through exchangers

This option is the most common among users who have active bitcoin wallets with a positive balance. In this case, the transaction is completed very quickly (the whole operation takes 10-15 minutes) and reliable, if, of course, you choose a trusted intermediary. So, how to withdraw money from a bitcoin wallet through an online exchanger?

Firstly, you need to choose an exchanger and register on the site. When registering, you must enter the correct and truthful data: name, number from the card and other confidential information, otherwise the transaction will be impossible. In order not to fall for scammers, it is better to use the monitoring of exchangers and display only through those sites, all the reviews of which are positive.

Then you just need to indicate the amount of withdrawal, agree with the rules of the online platform, and then wait for the confirmation of the transaction. A commission is charged for withdrawing from a bitcoin wallet. Exchangers work around the clock, you can withdraw not only to the card, but also to electronic money. A Bitcoin wallet with a withdrawal to Yandex.Money can be cashed through the exchange.

Exchanger Monitoring

It happened more than once that users withdrew funds through an exchanger according to all the rules, but the money never arrived in a bank account either after ten minutes, or after an hour of waiting, or after a day. Due to the fact that the system itself is still very young, there are many scammers around Bitcoin who want to take possession of such a valuable resource. In this regard, there have appeared honest sites that offer everyone a rating of exchangers. In addition to the fact that all the sites on these lists are proven and reliable, you can choose the most profitable course at any given moment. One of the best monitoring is BestChange.

Exchange cashing

How to withdraw money from a bitcoin wallet through an exchange? There are many exchange platforms today, there are plenty to choose from. When choosing, you need to pay attention to reviews, commissions, service rules, a variety of money withdrawal and input options. After authorization or registration, you need to transfer the necessary amount of bitcoins to a personal account on the exchange, and as soon as the transfer is received and becomes available in your account, put an order for the sale of cryptocurrency in exchange for rubles.

As soon as the order is realized, and the money is credited to the account already in Russian currency, you can withdraw your funds in any convenient way. As a rule, not only bank cards and accounts of the most popular financial organizations are available, but also electronic payment systems.

The disadvantage of this option for withdrawing bitcoins is time. First you need to wait until the funds are credited to the internal account (as a rule, it takes 3-5 hours, but the process can take a day), then wait until the cryptocurrency is bought back at the price you specified. Further, when it is already possible to deposit rubles, the procedure will take another 3-5 hours, and in some cases up to three business days.

The best exchanges for withdrawal

Among the Russian-speaking exchange platforms that implement the exchange of bitcoins for rubles or another currency, the following are most popular:

1. Livecoin
2. Cex.io.
3. Localbitcoins.
4. INDX
5. Indacoin.
6. Kuna.
7. eCoin.
8. DSX.
9. Exrates.
10. GetBTC.

Withdrawal to electronic money

Is it possible to withdraw money from a Bitcoin wallet right to WebMoney? The electronic payment system works directly with the largest cryptocurrency. Here the algorithm of actions is as follows:

1. Create a special WebMoney wallet (WMX) from your account. The system has developed a convenient gradation, which is very useful when you have to output a small amount of cryptocurrency: 1 bitcoin is equal to 1000 WMX.
2. Click "Top up" on the new wallet, then click on "Details" and enter the BTC address. On sites, you can find it in the address section to replenish the wallet.
3. Further, you can either transfer bitcoin to any currency (ruble, hryvnia, Belarusian ruble, and so on), but in this case the conversion process can take more than a day, or immediately withdraw to the card of any bank that the WebMoney system works with.

The instruction on how to withdraw money from a Bitcoin wallet to WebMoney ends here. It is with this system of electronic money that is currently most convenient to work with.

Withdrawal Security

For any actions with electronic money, including cryptocurrency, you need to remember security measures. Before using the services of any exchange or online exchanger for the first time, you should read reviews about a specific site, make inquiries, make sure that the service is not involved in fraud, but actually practices exchange or other operations. If there will be a lot of negativity among the reviews, then this is already a significant way to refuse the services of a particular site and look for other options.

Since when cashing a cryptocurrency, it is necessary to enter personal information, including the number and other data of a bank card, a warning not to leave your confidential data anywhere becomes irrelevant. Here you just need to work with reliable sites.