Will we be able to withdraw crypto from local banks?

[Lagazine]

It can only be withdrawn directly to your local bank if you are in America. But here in my country, you will need to convert to your local currency before withdrawal to local bank.

Post automatically merged: Dec 30, 2020

It can only be withdrawn directly to your local bank if you are in America. But here in my country, you will need to convert to your local currency before withdrawal to local bank. I've done it and it works for me.

 

[gammarays]

I don't think it's applicable everywhere except some banks that fully recognise Bitcoin as a tender or via Bitcoin atms. What is obtainable here are crypto wallets and exchanges that serve as a normal bank and allows you to store both crypto and fiat, convert and withdraw as you wish. It's highly flexible for me.

 

[Machismo]

I don't think that's ever going to happen, not now not never. Once digital currencies are been exchanged through local banks, then it has lost its uniqueness and the purpose too has been defeated.

 

[Doradorwa]

I believe some banks has adopt a bit legality of bitcoin and there are bitcoin Atm....so yes people has been able to withdrawal bitcoins from local banks

 

[Ltherman]

In no distant future it'll be possible to withdraw crypto using ATM it may not necessarily be the arms belonging to the banks, already globally bitcoins are being installed in different places and its spreading out real quick.

 

[idhans]

Cryptocurrency is getting day by day a part of everyone's life, it's getting more popular day by day and it's doing very well if you are aware of the recent news, do you think someday local banks will supoort it and we will be able to withdraw from our wallets directly from ATM's ?

This is happening already in the West. I am seeing this happening in Nigeria in 10 years to come. All we need is just directives from the Central Bank. And I'm really praying government should put up structures, and policies that will make this happen.

 

[Donkiz]

I think that it might happen sometime in the future, but for now I don't think that banks will accept Cryptocurrencies wallet as part of their services anytime soon. But if the proposed Cryptocurrency ATMs plan works and people start using them, banks might be forced to join in.

 

[Nurudeen]

All Invertors just need to have patience because I know sooner is later we will start withdrawing stock into local bank. Before this can be done, the government must accept the mean of payment and all finanacial Institution must embrace it

 

[Mujahid12]

Cryptocurrency is getting day by day a part of everyone's life, it's getting more popular day by day and it's doing very well if you are aware of the recent news, do you think someday local banks will supoort it and we will be able to withdraw from our wallets directly from ATM's ?

Yeah we can get but first cryptocurrency exchange into fiat money then it will be deposited into bank account and after this you will be able to get money of cryptocurrency so this is the way to get withdraw directly into account from cryptocurrency.

 

[Niftyyem]

If the point is to get regular bànks to work with cryptos for payments in fiat, then, that may be along time in coming. However, there are several ways around that already, so I don't really see an issue there.

 

[Patrik]

Yeah we can get but first cryptocurrency exchange into fiat money then it will be deposited into bank account and after this you will be able to get money of cryptocurrency so this is the way to get withdraw directly into account from cryptocurrency.

Yes but that's not a straight withdraw, you have to go through lot of processes to be able to do that, which i already know, what i'm actually trying to say if you can do that directly from ATM's or local banks without going through all of that

 

[GIFTMICHAEL]

When this happens the world will become a better place. This will be one of the biggest world achievement to withdraw money from crypto wallet using our ATM.

The world is a global community we should expect something of this nature to happen someday.

 

[WhiteHouse]

I doubt but there are some ways you can utilise, Bitcoins can not be removed into a financial balance straightforwardly. You can either offer them to someone who at that point moves cash to your financial balance, or you can sell them at a trade and pull out the assets from that point. The main strategy might be faster to set up however is a touch more dangerous.

 

[btaliat]

To the best go my knowledge, cryptocurrencies are digital currencies that can not be seen, touch but heard of. So, I don't see how withdrawing in our local banks will be possible. But with the advance of technology, if those coins are minted, I don't doubt their withdrawal from our local banks.

 

[chicnthin]

Cryptocurrency is getting day by day a part of everyone's life, it's getting more popular day by day and it's doing very well if you are aware of the recent news, do you think someday local banks will supoort it and we will be able to withdraw from our wallets directly from ATM's ?

I think that day will come soon. Or maybe it's already possible to directly withdraw our cryptocurrency on the banks on some other countries. I heard that some sites are accepting cryptocurrency as mode of payment from the purchase of products and there's even an bitcoin ATM now so everything is possible.

 

[zagzagi]

Yes, this approach looks very possible in the future. We've even begun to come across a small number of examples of this.

Bitcoin is not debt but a carrier of value. Money in bank accounts is a type of debt. An account represents a bank's debt to its customer. Bitcoin does not represent a debt. Banks and governments have no control over bank accounts, neither does Bitcoin. No power can prevent Bitcoin's use, nor can it undo the transaction.

Certainly, the banking and finance world will be
will benefit extensively, but the benefits of this technology
The industry that benefits will not be limited to them. We will continue to see Blockchain applications in many different areas such as logistics, regulation and retail.

 

[giddy]

To withdraw bitcoin into your bank account, simply rush to the home page and click on “More” under your BTC balance. Click on an option termed “Instant Sell”, put in the amount you want to sell in naira or in BTC, and confirm the amount. After confirming the amount you continue.

 

[Kennysplash]

Cryptocurrency is getting day by day a part of everyone's life, it's getting more popular day by day and it's doing very well if you are aware of the recent news, do you think someday local banks will supoort it and we will be able to withdraw from our wallets directly from ATM's ?

I don't think that can ever be possible and if it will be possible then they will have to have their own banks for you to perform transactions but they can never merge with Fiat banks. Fiat currency will be in trouble.

 

[Peppul]

Yes we will be able to, infact most wallet already has that options where you can withdraw your crypto currency to your local bank account, although it may varies with locations cause most regions might not have that option yet due to the fact that these wallet have not partnered with the local bank around, but in my country that options is already available in some wallet, and it makes things easier.

 

[Ehizzy1]

I think it would be possible and there are already bitcoin atm which is owned by some companies and its been stipulated in major areas of the country , so its possible and if the local banks start considering that then people would be able to do transaction with ease and this would even fetch them more revenues and others i think