I have bitcoin and i want to sell or withdraw to get the amount to Indian bank or Paypal. Is there any way to get the equal amount for bitcoin. If yes and how?
2 Answers
Bitcoin is not tied to bank accounts but instead lives on a distributed ledger known as a blockchain. This ledger is verified and stored by thousands of nodes across the world. Selling and buying bitcoin is not part of the protocol for Bitcoin, and instead is bought and sold on Exchange services such as Coinbase, Kraken, Gemini, etc. or Peer-to-Peer/Face-to-Face. Bitcoin is exchanged for fiat, not converted. When you sell bitcoin, someone is buying that bitcoin for fiat.
You will need to research and find an exchange that will allow you to sell bitcoin for your native country's fiat currency. Then you can withdraw said fiat into your bank account.
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I tried with the coinbase. when i click on link account. I cant link the account. imgur.com/a/ZR2IWJ1– atekCommented Jan 4, 2020 at 3:35
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@atek Your issue is related to Coinbase and their banking services. This may be due to your region or some other factor prohibiting Coinbase - the company - from providing service to you. You may also experience problems due to your browser, in which case try clearing the cache, disabling cookie/tracking blockers, or using a VPN. Check the terms of service of the exchange, of course. Commented Jan 4, 2020 at 6:27
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Are you aware of or have you tried the distributed exchange called Bisq?
Odds are high you can make a connection with somebody there and work out an arrangement for either scenario you expressed an interest in.
