How to Withdraw Bitcoin Profitably: 5 Top Methods in 2020

09.03.2020 • Knowledge base • No Comments

Bitcoin withdrawal is the process of withdrawing cryptocurrency from a wallet using exchange services, Telegram bot, WebMoney, exchange or other websites. In a variety of ways, it is important to choose wisely the option that meets the safety criteria and the best exchange rate. Below we will consider how to profitably withdraw Bitcoin from a wallet and provide a step-by-step guide and features of each of the methods.

How to withdraw money from a Bitcoin wallet: all methods

There are several ways to withdraw money from a Bitcoin wallet, reducing transaction risks and getting the best exchange rate. Let’s consider them in more detail.

Exchangers

An easy way to withdraw Bitcoin is to use one of the exchangers. These special platforms act as intermediaries and allow you to withdraw Bitcoin in different directions. For a profitable withdrawal of cryptocurrency, use the exchanger monitoring service, which allows you to conduct a transaction with the best exchange rate at the time of conversion.

Algorithm of actions:

Go to bestchange.com
In the “Give” line, select the Bitcoin (BTC) option
In the next column on the right, indicate where you want to withdraw the cryptocurrency
Select an exchange service. After indicating the direction, the system displays a list of available websites. Exchangers with the best exchange rate are at the top. When choosing, pay attention to the adequacy of the reserve, the features of the transaction (automatic, semi-automatic, manual) and reviews
Go to the selected exchanger to conduct the withdrawal
Follow site instructions. Indicate the amount for the exchange, enter the details and confirm the action
After the transaction is completed, wait until the funds arrive in the account

Most exchangers value their reputation and try to fulfill their obligations on time. In the case of customer dissatisfaction and the appearance of negative reviews on the monitoring service, the website is thrown out of the list and loses customers.

Localbitcoins

Another way to withdraw Bitcoin from your wallet is to use the LocalBitcoins online platform, which allows you to conduct cryptocurrency purchase and sale transactions with other users. The service acts as a guarantor of the transaction and eliminates fraud on the part of any of the participants in the process.

Algorithm of actions:

Go to the LocalBitcoins website
Before you withdraw money from your Bitcoin wallet, you need to register. If you intend to conduct big deals, verify your account
Enter the wallet section and top up your Bitcoin account
Go to the “Sell Bitcoins” or “Quick Sale” section
Indicate the amount, country and the suitable transaction option from the drop-down list
Select a user. Pay attention to the exchange rate, rating and other information provided on the site
Click on the “Buy” link, once again study the terms of the transaction and write down the details for payment
Click on the “Send a request for a transaction”
Wait for the money to arrive in the bank account or electronic wallet (depending on the chosen method). After confirming receipt, send Bitcoin at the specified details. If desired, write a review on cooperation with the counterparty

Telegram bot

Telegram bots are apps that provide secure cryptocurrency withdrawals. With their help, Bitcoin can be withdrawn in any of the ways, including a bank card.

A step-by-step guide:

Create a Telegram account
Add the BTC_CHANGE_BOT
Choose your language and agree to the terms
Enter your wallet and transfer Bitcoin to a Telegram account
Click “Sell Bitcoin”
Select a withdrawal method
Indicate in the list the counterparty offering the most profitable Bitcoin withdrawal rate
Follow the instructions of the Telegram bot, enter the data for the transaction, amount, details
Wait for the money to arrive in the account (card) and verify the transaction

As in the case of LocalBitcoins, the Telegram bot acts as an intermediary between the participants in the system. Deception or fraud is minimized here.

WebMoney

Another way to withdraw money from your Bitcoin wallet is to use the WebMoney service. The advantages of the option are in the best exchange rate, as well as in conducting a transaction using a bank transfer. This is an official method with a relatively small commission. The system charges 0.8% and a percentage for withdrawal to a bankcard (2-3%). The method is suitable for users who store cryptocurrency on WebMoney using WMX wallet. The user must have an initial passport.

Algorithm of action:

Follow wmx.wmtransfer.com
Click on “Withdraw Bitcoin”

Review the information provided. The service warns that it is possible to withdraw up to 0.6 Bitcoins immediately, and if this limit is exceeded, the withdrawal time will be up to 24 hours. To avoid delays, the system recommends you to withdraw Bitcoin in parts.

Exchanges

A popular way to withdraw BTC at the best rate is to use the capabilities of one of the exchanges. Consider EXMO exchange, where 3% of the commission and an additional $1 is charged for withdrawing Bitcoin cryptocurrency. The current limits are up to $10,000 per month.

Algorithm of actions:
• Log in to EXMO or register at the website
• Deposit Bitcoin in the internal account of the site
• Go to the exchange section. Here, users have two options – conversion using the exchange or through the built-in exchange office. For convenience, select the second method
• Choose a withdrawal option – to a bank card, bank transfer, etc. In each case, there is a separate commission
• Follow the prompts of the system
The advantage of exchange platforms is the possibility of selling cryptocurrency at a favorable rate. To conduct a transaction, you must register and top up your account.

Direct withdrawal

There is another way to withdraw Bitcoin and avoid paying a commission – Direct withdrawal. First, you need to find a user who wants to buy BTC cryptocurrency. Such people are found on specialized sites and forums. As soon as a person is found, it remains to discuss the terms of cooperation (amount, terms, and method of withdrawal) and conduct a transaction.

When choosing an option, there is a high risk of being scammed and left without money. In order to avoid negative consequences, it is important to choose trusted contractors or work through intermediaries. On the other hand, this method gives advantages in the form of no commission costs, high transaction speed and the ability to negotiate a withdrawal at a better rate.

Recommendations and choosing a method of withdrawal of Bitcoin

Regardless of the option chosen, carefully select the counterparty. The best way is to withdraw BTC in small parts in order to avoid suspicions on the part of the bank. Try to use several cards and do not immediately withdraw money.

As for choosing the method of withdrawal of Bitcoin, then the option with the exchange is suitable for experienced users who are willing to spend time studying the functionality and features of the site. Here you can safely withdraw cryptocurrency at a favorable rate and with a small commission.

Exchangers are suitable for beginners who want to quickly withdraw money. If we talk about the LocalBitcoins service, it is a universal solution from the standpoint of the benefits and security of the transaction. As for direct withdrawal (without an intermediary), it is better to avoid such a method because of the risk of being scammed.

Summary

Knowing how profitable it is to withdraw Bitcoin, you can withdraw cryptocurrency at any time and transfer it to your bank card. You have to pay attention to the security of the transaction and after that look at the exchange rate. Ignoring this rule often leads to financial losses due to the actions of fraudsters.

As for earning Bitcoin, it’s easy to do. It is enough to buy a contract on a cloud service and receive stable charges on a cryptocurrency wallet. This method eliminates the cost of buying equipment and commissions, as well as the risks associated with the exchange rate and other force majeure of the cryptocurrency market.