Table of Contents
Cash Out Bitcoin from Xverse and Withdraw USD to Your Bank Account
Over the past couple years, new ways to make money within the Bitcoin ecosystem have emerged. There are now fun things to do on Bitcoin thanks to the Ordinals and Runes protocols. Users can trade Bitcoin ecosystem assets with the use of an Xverse wallet and grow their $BTC bags. Many early adopters of Bitcoin Ordinals have been rewarded with Runes token airdrops and have made sizeable gains. Taking profit when you’re up is how to succeed in crypto.
In this tutorial, we’ll show you how to cash out Bitcoin from an Xverse wallet and turn it into USD in your bank account. The process is simple and involves the use of a centralized exchange. In this example we use Coinbase but any CEX such as Binance, Kraken, Crypto.com, Gemini, and others will work just as well.
Cash Out Bitcoin from Xverse Wallet by Sending it to Coinbase
When you’re ready to turn some of your Bitcoin into cash the first step is to send it from your Xverse wallet back to Coinbase. Once your $BTC has been transferred to a centralized exchange, you can sell it to cash (USD) and withdraw it to your bank account. Below are steps you’ll take to send Bitcoin from and Xverse wallet to Coinbase…
Step 1: In Coinbase, click on “Receive Crypto” and select Bitcoin as the asset.
Step 2: Copy your Coinbase Bitcoin Receive address.
Step 3: Open your Xverse wallet that holds the Bitcoin you’re looking to transfer and click “Send”.
Step 4: Paste your Coinbase Bitcoin Receive address and enter the amount of $BTC you want to transfer.
Step 5: Review the transaction and click the “Send” button.
Please note that you’ll have to pay a transaction fee when transferring Bitcoin from Xverse wallet to Coinbase. The fee amount will vary depending on how busy the Bitcoin blockchain is as the time of your transaction. Miner fees are similar to gas fees on other chains like Ethereum, Solana, and Avalanche. It’s best to make Bitcoin transfers from Xverse when the network is less congested as fees will be lower and the speed of your transfer will be faster. Use the Bitcoin Explorer Mempool.space to monitor the status of your transaction.
Sell Bitcoin to Cash (USD) in Coinbase
When the Bitcoin transfer from Xverse wallet to Coinbase is complete, the next step is to sell $BTC to cash. Below are the steps you’ll take to sell Bitcoin to $USD in your Coinbase account so you can transfer the cash to your bank account…
Step 1: In Coinbase, click on the 3 dots next to your Bitcoin balance. You’ll see the following options; Buy, Sell, Convert, Send, and Receive.
Step 2: Click “Sell” and enter the amount of Bitcoin you want to sell to cash USD. Click the “Review Order” button to go to the final step.
Step 3: Review your “Sell Bitcoin to Cash” transaction and click the “Sell Now” button. Note that you will have to pay a small Coinbase fee for selling the $BTC to cash.
Withdraw $USD Cash from Coinbase to Bank Account
Withdrawing you’re newly converted Bitcoin to cash from Coinbase to your bank account is the final step. Any bank account you have linked to Coinbase can be used for the cash withdrawal. Below are the steps to follow to complete this process…
Step 1: In your Coinbase account, click on “My Assets” and then click “Cash”.
Step 2: Click the 3 dots next to your US Dollar balance and click “Withdraw”.
Step 3: Select the bank account you with to withdraw the cash (USD) to and click “Withdraw”.
Your money will transfer from Coinbase to your preferred bank account. A few days is about the maximum amount of time it will take for the cash transfer to complete. However, in most cases it happens in just a couple hours or less. The process of cashing out Bitcoin from Xverse wallet to your bank is now complete. Your profits are secure and you’ve successfully played the Bitcoin assets ecosystem. Just remember to account for taxes so you don’t have issues later in the year.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.
