How to transfer Bitcoin to a local bank account

Bitcoin to your local bank account

This article will show you how to transfer Bitcoin to a local bank account.

Hopefully there are no restrictions or regulations in your region/country to prevent this from being a smooth process. If you do experience any problems or restrictions PLEASE leave a comment below and I will do diligent research in this regard and provide you with a alternative solution.

 

STEP 1


Create an account with LUNO

Signup and verify your registration via email.

 

STEP 2


Setup 2FA (Two Factor Authentication) in the security center.

 

STEP 3


Link your local bank account to Luno in the beneficiary section on your dashboard (left menu).

 

STEP 4


Deposit your Bitcoin from your mining device or the account where you are accumulating the Bitcoin to your Luno account. You will need to create a new Bitcoin wallet address on Luno to deposit to this address.

 

STEP 5


Sell Bitcoin on Luno in your local currency and transfer the funds to your local bank account. There is a small fee to sell Bitcoin and then another small fee to transfer it to your local bank account so please take these fees into consideration.

 

Please leave a comment below if you have questions or if you encounter any problems.

Alternatively you can use an exchange or wallet like Binance or Coinbase to do this, if their regulations allow you to do so in your region.

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