Will we be able to withdraw crypto from local banks?

[arrain3786]

Bitcoins can not be withdrawn into a bank account directly. You can either sell them to somebody who then transfers money to your bank account, or you can sell them at an exchange and withdraw the funds from there. The first method may be quicker to set up but is a bit more risky.

 

[tuna89]

It is very possible for the banks to start dealing in cryptocurrency only if the government adopt such cryptos and integrate them into the central banks and and exchanges thereby monitoring every transaction to prevent any fraud,if all these are achieved then the banks can adore cryptocurrency as part of their regulated and transactive currencies. By this we would be able to withdraw and deposit crypto.

 

[Shahid Abbas]

I think you mean to say that we can take cryptocurrency in fiat money and transact directly in the bank, of course we can take it in this way to bank and And it seems to me that very soon we will be able to transact Cryptocurrency Directly in Bank

 

[Briangsam]

Cryptocurrency is getting more popular by the day and I think the uprise in its fame will make it acceptable everywhere very soon. With the Luno app, you can connect it to your local bank and make withdrawals.

 

[Chumzy]

There are a lot of wallets and exhcnages that let's you withdraw to your bank directly. It is so common these days because there is heavy competition in the crypto world. Different wallets and exhcnages are coming to serve a particular niche in the market and earn your customers.

 

[ahmedo24]

The banks in my country are yet to allow Crypto-fiat financial transactions though the exchange plaforms are able to do that and I am pretty sure the banks are aware that such transactions are Crypto currencies related .

 

[Tanny]

With automation and technology improvement all over the world it's possible that Bitcoin will evolve into the local Bank currency making it easy for us to withdraw directly to our account

 

[Highflyer]

Of course we will be able to withdraw our cryptocurrency from local banks no matter the rate at which Crypto rises or fall. Currently there is the option of withdrawing to your bank account from some Crypto wallets like Luno.

 

[mcjerry]

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 ?

For now no bank will support the withdrawal of crypto currency. But in the nearest future, they will surely accept bitccoin transactions. A time is coming that there will be more if crypto currency and very few of cash. Then to continue there business, they will be forced to accept coins

 

[Josephjossy]

You can't withdraw crypto currency to your local bank account, you have to convert it to your country currency and then withdraw it. Crypto currency is not a physical money which you withdraw in bank, it is mostly use for international
trading. So you can't withdraw crypto currency at your local bank account.

 

[unhappy triad]

If i really get what you mean yes then we can. Or you need do is convert your cryptocurrency. You can directly withdraw with your bank at the moment. Bitcoin atm hasn't arrived here yet but that too is in sght

 

[Bookwormlux]

Banks would certainly never allow the use of their ATMs for anything related to crypto currencies. They are already seeing crypto currencies as a threat to them and would do anything to frustrate people out of using crypto Currencies.

 

[eLdavis]

I think the situation is if local banks want to remain relevant in the future, they would have to make provision for cryptocurrency in their day to day operations. Because of care is not taken even the banks would be a thing of the past.

 

[richee84]

Luno have already be doing that, my bank account is linked with my wallet and I can easily transfer cash from my wallet into my local bank account and I get credited after some few minutes. It is very possible cause I have try that with LUNO and it was successful.

 

[btaliat]

As a Nigerian, i don't think the feature is available this moment as a result of regulations that government did in the early February. You can only depend on p2p in converting your coins.

 

[Setfragil]

With the rate of global acceptance, It is very possible to withdraw our cryptocurrencies from local banks in the nearest future. In fact, I read that there are some places in Asia and in the United States that has cryptocurrency ATM.

 

[nimzy]

Yes it is possible for that due to the increasing influence of cryptocurrency all over the globe today but is good to have in mind the influence depends on the location because most third world countries are less knowledgeable about it growth.

 

[Kingsley]

It was a major challenge just immediately after the ban was placed many though their coin was actually lost and many were thinking of running to a neighbouring country that has the trading features. But all thanks to God and and the binance p2p it made it simple.

 

[Kunkun]

Well with crypto anything is possible so i wouldn't downplay any possibilities in the future, this could definitely be so in the nearest future no doubt, I guess we will have to wait and see

 

[Chibson]

This is possible in countries where cryptocurrencies are not banned. A country like mine will get your account frozen for carrying out cryptocurrency transaction.