How to Transfer Bitcoin to Bank Account – How to transfer Bitcoin to Bank Account? Bitcoin is the way to gain money by exchanging your actual money to the virtual one. Yes, Bitcoin itself is basically the virtual money developed in 2009. Just like other currencies, the value of Bitcoin can be simply changed from one time to another due to some factors or conditions happened around.
You can buy Bitcoin with your real money when the price is lowered. On the other hand, when the price is already expensive, you can just sell it. Your profit is from the value of Bitcoin when it is sold anyway. Of course, it is only the general description about how this trading works. When it comes to the practice, there are many other things that you can do. One of them is the process of transferring whether it is to exchange the money or do the transaction with other members.
Types of Transfer
It is important for us to know the types of transaction applied in the Bitcoin. There are some features available related to the transaction. First of all, it is known that the way Bitcoin works is by instantly transferring from peer to peer without any main or central server. It means that the admin of server is the member himself or herself as long as the member is connected to the web. Next, you can transfer it anywhere in seconds wherever and whenever you want.
More than that, the fee for transfer is also less than the other types of money transferring. Even, the fee for transferring can also be free. The transaction is also irreversible which means that once you transfer your money, it cannot be canceled. Then, the supply of Bitcoin is limited; it is only around 21 million of Bitcoin all around the world. Lastly, this activity is not controlled by the government but it is also really open for the general public.
The Connection to the Bank Account
Technically, you cannot do the transaction directly in the bank. Yes, bank is only for the real money anyway. It means that there are some steps in order to connect your Bitcoin to your real bank account. How to get the Bitcoin can be by buying or mining it in the official exchanger.
The same matter is also when you want to sell your Bitcoin. It means that the process of transferring can only be done manually. Since this trading is still being started, there is possibility that the transfer through bank account is happened later.