How to withdraw bitcoin, which is very easy for beginners, is very important. Of course, crypto asset enthusiasts need to know.
For information, Bitcoin and other crypto assets can be exchanged for cash. The principle of disbursing Bitcoin cs into cash is the same as gold.
In this case, the crypto asset will be sold according to its value in the currency in force at the time of sale. Later, the money from the sale can be sent directly to the account of the asset owner.
To withdraw Bitcoin itself, you can do it on a crypto exchange or an external wallet. Here is the full review.
How to Exchange Bitcoin for Cash
Crypto Exchange Platform
The owners of Bitcoin or other digital assets can access the Bitcoin transaction service provider platform. Now, to exchange Bitcoin into rupiah, you have to access the Bitcoin sales menu to sell crypto assets according to the value that applies when the transaction takes place. If the transaction is successful, you can immediately send the money from the sale to your bank account.
This Bitcoin ATM looks the same as a general banking ATM. With this tool, you can buy and sell Bitcoin. However, what distinguishes it from a banking ATM is that it is not accessed with a debit card but by scanning a QR code to connect to a digital wallet, where users store their Bitcoins.
Later, if the ATM is connected to the Bitcoin storage wallet platform, you can also sell Bitcoin for the desired amount. Then, the assets in the digital wallet will be converted into cash, equal to the amount of Bitcoin sold. In just a matter of minutes, asset owners can withdraw their money from the Bitcoin ATM.
Peer-to-Peer (P2P) Transactions
Bitcoin wallet owners can connect via a peer-to-peer (P2P) network that allows two parties to transact Bitcoin. In this transaction, you will sell Bitcoin or other crypto assets to buyers willing to pay a specific price. If they have paid in cash or transferred to a bank account, you can immediately release the Bitcoin asset to the buyer’s account.
How to Withdraw Bitcoin on Indodax
How to withdraw bitcoin is very easy. Regarding this, you can also withdraw at Indodax with the following steps:
- First, please enter the wallet menu.
- Then, select withdrawal, fill in the amount of rupiah you want to withdraw and complete the required data carefully.
- If you have finished filling in the data, please click ‘Withdraw.’
- Next, you will be asked to enter a PIN.
- Withdrawing money from the account is almost successful.
- Next, confirm the money withdrawal by clicking on the link sent to your email address.
- If you have, you have completed how to withdraw Bitcoin on Indodax with the application. Happy!
Well, for those of you who want to withdraw at Indodax through the website or the official website, you can try the following steps:
- First, go to the Indodax website at https://indodax.com/login
- Login to your Indodax account.
- Then, click on the ‘Wallet’ menu.
- Then click the ‘Deposit/Withdraw Rupiah’ option.
- Please click on the ‘Withdraw Rupiah’ menu and follow the instructions.
- You must enter the money you want to transfer to your bank account.
- Please select the bank account that will be used as a place to save money from Indodax.
- Next, enter the Google Authenticator PIN or verification code sent via SMS.
- Click the ‘Submit’ option. Done!
Things to Pay Attention to when Withdrawing Bitcoin
Applied shipping costs
First, you have to pay attention to the shipping costs applied. This is because each exchange has a different withdrawal fee policy. In this case, ensure you have calculated the amount to be sent with the available costs.
Minimum deposit amount on the receiving exchange/wallet
Like the fee, each exchange also has provisions regarding the minimum deposit amount, which also varies. Therefore, pay attention to the minimum deposit amount on the receiving exchange/wallet.
Finally, pay attention to the type of wallet address of the sender and recipient on the same blockchain network.
That’s a review of how to withdraw bitcoin, which is essential. See articles about crypto assets, blockchain, and others only at Indodax Academy.