The popularity of bitcoins is only growing, people use them to pay for goods, and also make money from the growth of cryptocurrency. Of course, in the end you will need to withdraw the funds to your bank card or e-wallet. It is not possible to withdraw money from Freebitcoin directly, since bank accounts and wallets do not support such a currency. However, you can use various exchangers that will help you exchange bitcoins for rubles.
Features of cryptocurrency withdrawal
Bitcoin Cash is one of the most expensive cryptocurrencies in the entire market. It is built on the Bitcoin blockchain, moreover, it is a hard fork of it.
At first glance, withdrawing cryptocurrency may seem like a rather complicated task. From some point of view, this is logical, since we are talking about digital money. Many people still do not understand the principle of their operation. And BCH is a relatively new coin, which is even more confusing for some users. Especially when it comes to the fact that this is a hard fork.
Some people think that the hard fork needs to be handled differently. In fact, it's the other way around. This phenomenon means a high percentage of similarity with the original network. In this case, the difference is the block size and transaction speed.
Restrictions and limits
Of course, you cannot withdraw absolutely any amount to your wallet or card, as there are certain limits and restrictions. You can withdraw any amount to the blockchain, and then no less than 0.05 bitcoin. Also keep in mind that exchangers may have minimum withdrawal limits, which means the amount may increase. The maximum limit is different for all sites, you need to first study the rules before sending money to a card or wallet.
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But the hard fork does not affect the change in the algorithm of actions for withdrawing your coins to fiat. In general, the entire procedure is completely identical for any cryptocurrency. And it's not complicated at all. One of the simplest operations.
The peculiarity is that cryptocurrencies exist only in the form of code, so to withdraw them you need to use special services. But there are a lot of them on the Internet, which means choosing at least one will not be difficult at all.
The second feature is low commissions. However, this advantage must be used correctly. When operating with crypto, the commissions are indeed lower than with bank accounts. However, sometimes the exchange service provider sets a fixed transaction fee for any amount. Then it makes sense to withdraw as much as possible at a time.
Third, transfers take longer. Although, depending on how you look at it. If you send money through one bank, in one country, the money will be transferred within a few seconds. But if the transaction is processed through international organizations and electronic payment systems like Webmoney, then you may be forced to wait up to 3 days, or even more.
The advantage of blockchain is that you won’t be kept waiting. Processing usually takes up to 10 minutes if the network is not busy. Speaking about Bitcoin Cash, one can say that it is even empty. Therefore, the withdrawal will occur almost instantly. What influences this?
- there are relatively few transactions on the BCH network every day;
- processing occurs faster, so the mempool does not become clogged;
- there are many miners, which is confirmed by the high hashrate.
Since transactions are processed without delay, there is no point for miners to ask for high fees. Therefore, when withdrawing your Bitcoin Cash to fiat, you will not pay extra (except for the exchanger’s commission).
Interesting facts about FreeBitcoinCash
There are some aspects that I would like to highlight about the Free Bitcoin Cash app:
- Although at first glance this may seem impossible (I myself was skeptical about this at first). There are quite a lot of chances to reach the third level in the Free Bitcoin Cash main game. As is logical, the most repeated window is a number. so I would say. It looks like out of every 10 games we can move to the second level in 3. And out of every 10 games of the second level we can move to the third.
- It is very easy to reach the minimum of 10,000 Satoshi. Sometimes, depending on luck. We can reach the minimum withdrawal in one day or even in one game.
- Applications are supported by advertising. In many cases, videos can be annoying, but you have to understand. What if apps like Free Bitcoin Cash allow us to earn money. This is because they must cover costs or receive benefits. For this reason, advertising is necessary and necessary for We can all win free cryptocurrencies.
- If we don’t reach 10,000 satoshi in a week, then nothing will happen. The amount will remain on our balance and we will be able to write it off next Tuesday. Next to the profit we made during this week.
Key factors when withdrawing
While one Bitcoin Cash owner wants to cash out the coins as quickly as possible, the other can wait. Accordingly, the first one may turn a blind eye to an increased commission or a low rate, while the other does not make sense to overpay, so he will wait for a better moment or look for a suitable service.
One way or another, it is impossible to objectively name the best method or service for withdrawing cryptocurrency. However, there are 3 key factors that determine the feasibility of using each method:
- benefit;
- reliability;
- convenience.
Profit means receiving the largest amount of money for each unit of cryptocurrency. Reliability means a high level of protection for your funds during conversion, direct exchange and sending to a card, account number, etc. Convenience implies the speed and simplicity of completing a withdrawal request.
Import a passphrase
There is only one step left to complete: transfer the private key from Blockchain to the btc.com wallet. To do this, use a passphrase (seed), which can be obtained like this:
- Go to your wallet at blockchain.com.
- Select the menu “Settings” - “Security”.
- Click the "Backup Phrase" button and write down a string of 12 words.
NOTE: Before performing the next step, it is advisable to create a new Blockchain wallet and transfer all funds from the old account to it. This step ensures the safety of bitcoins, which in theory can be accessed by the creators of Bitcoin Cash wallets.
To import a backup phrase, follow these steps:
- Log in to your btc.com wallet.
- Go to settings and select the "Tools" tab. Click "Import Wallet".
- Select "BIP-44 Compliant Wallet".
- Enter the 12 words that were received for the Blockchain wallet.
After completing these steps, btc.com will show your updated balance.
Withdrawal methods
Despite the development of the crypto market and the emergence of new services, there are not many ways to withdraw Bitcoin Cash. Now we can distinguish only three:
- through the exchange;
- through an exchanger;
- by selling your coins.
Each of them has its pros and cons, each of which will be discussed below. But it’s worth saying right away that none of them combines the three above factors. Therefore, you will have to sacrifice something in any case.
General information on withdrawal of funds
As mentioned above, direct withdrawal of funds is not possible. You will have to use exchangers, of which there are now many on the Internet, or the services of a person who manually exchanges bitcoins for rubles.
Keep in mind that the second option will be less profitable, since, most likely, the person will take a residually large commission. In addition, the exchange will not be carried out automatically, which means the transfer may take a long time.
The size of the exchanger's commission depends on which site you choose. Be sure to pay attention to reviews so as not to run into scammers. If there is no information about exchangers on the Internet or there are negative reviews, then it is best not to use it.
It’s safer with the exchange
Exchanges are designed for trading, therefore they provide a relatively high level of protection of funds both during short-term storage and during withdrawal. You can withdraw BCH directly, but to do this you will need an exchanger (more on them later). In other cases, the cryptocurrency must first be exchanged for fiat inside the exchange.
Now, in order. Let's say you store your coins in a local wallet. Accordingly, first of all you need to register on the exchange. After that, top up your Bitcoin Cash balance.
There are several options for exchanging for fiat. The first, simplest one is to use an internal exchanger. But this way you will lose a lot, since the rate will be greatly underestimated. The second is to sell cryptocurrency at auction.
This method is also divided into subparagraphs. You can sell it at the market rate or by order. Both are carried out by auction. The first one is quick and relatively simple. Select the BCH/USD trading pair (or any available currency you need), then indicate the number of coins you want to sell and confirm the operation. The money will be transferred to your internal fiat wallet instantly.
Selling by order may take a little longer, as there is one caveat. After putting your coins up for auction, you need to wait for the same purchase order. So, again, select a trading pair, indicate the number of coins and the rate at which you are selling Bitcoin Cash. You create an order that falls into the so-called glass.
When an order appears in the order book with the same rate and sufficient funds to purchase your coins, trading will occur automatically, and fiat currency will appear on your balance, which can be withdrawn.
After performing one of the above operations, return to your wallets. Opposite the balance of the currency for which you sold BCH, click “Withdrawal” and select one of the available methods, after which you just have to follow the instructions.
Among the disadvantages of using an exchange to withdraw Bitcoin Cash, you should focus on the commission. It is not high, but it will rise several times. The first is when replenishing an exchange account. The second is during bidding. The third one is during withdrawal.
Another disadvantage may be the length of the process. If you decide to sell coins using an order, a buyer will not always appear immediately. Especially if you set the rate too high.
Possible problems and their solutions
If everything is done correctly, then there should be no problems with the output. Difficulties may arise in the following cases:
- You chose a bad exchanger and the money simply did not arrive in your account. Nothing can be done about this. Next time be more careful and read the reviews.
- You are trying to withdraw an amount that is less than the allowed limit. In this case, you just need to wait until the required amount accumulates.
- Money transfer takes too long. All that's left to do here is wait. Some exchangers are really quite slow. Be sure to read the rules before sending funds.
Do not accumulate too many bitcoins in your wallet. It is possible that you will be lucky and can make good money. But it may happen that you simply lose your money. It is best to make transfers in small amounts and constantly monitor what is happening in the cryptocurrency market.
Under no circumstances should you keep all your savings in Bitcoin. Even if you decide to do this, then store money on different resources in small amounts. If you do everything correctly, then you definitely won’t have any problems with cryptocurrency.
You won't be identified with an exchanger
The very first thing the search engine will offer you to withdraw your funds is cryptocurrency exchangers. There will be plenty to choose from, since there are more than enough such sites.
The first thing you shouldn’t do is use the exchanger with the highest rate. It may be compensated by the same commission. Sometimes it even turns out that the service is one of the least profitable due to the fee for use.
After choosing an exchanger, you will have to spend at most 2 minutes to create a request. In the “Give” column, select BCH, and in the “Receive” column, select the currency and service to which you want to send fiat. This can be either an electronic payment system, a bank card or even an account.
Then you should indicate the number of coins to exchange (or the desired amount of real money). You also need to enter the wallet address or account number to which you want to send fiat. Some exchangers ask for an email address to which a message will be sent confirming the acceptance of the request, as well as the implementation of the exchange.
Click the “Pay” button, and you will be given the Bitcoin Cash wallet address to which you need to send your coins so that they can later be exchanged for fiat. Sometimes you can choose the commission that you are willing to pay to miners. However, in the case of BCH, you can set it to the minimum value since the network is not congested.
One of the features of using exchange services is the small range for withdrawal. Thus, the minimum amount for withdrawal will be around 0.003 BCH, and the maximum around 5. Considering that the rate of this cryptocurrency is 8 times less than Bitcoin, it is not so difficult to go beyond the range. You will have to make several transactions.
The disadvantages are the presence of fraudulent sites and an exhaustible foreign exchange reserve. The first point is not difficult to deal with, but the second point will not be affected. The only way out is to turn to another site.
One of the most important differences from the exchange is that there is no need for registration. It’s a little easier to identify you through the exchange, since there is a link to your email. If you gain access to the site's database, you can be found (if necessary).
How to get Bitcoin Cash for free from a Blockchain wallet?
If on August 1, 2022, the user had any amount of bitcoin on his balance, he will be able to receive exactly the same amount of Bitcoin Cash. If the wallet was replenished later than this date, or funds were transferred to another address earlier, you will not be able to receive free coins.
The algorithm for receiving BCH depends on where exactly the user kept his bitcoins: on an exchange or in a personal wallet. Exchanges that supported the hard fork independently credited new coins to user balances. If the funds were stored in a personal wallet, there are 2 options for receiving a new cryptocurrency:
- In the case of multi-currency wallets such as Jaxx or Coinomi, you do not need to do anything: BCCs were credited automatically.
- In the case of Blockchain.com or another wallet that supports exporting private keys, there are a number of additional steps that need to be taken. To receive the Bitcoin Cash cryptocurrency, you will have to independently select a wallet to store BCC and transfer the private key to it.
Let's look at the process of receiving Bitcoin Cash from the Blockchain website. The service does not support working with BCC, so you must first register a wallet for the new cryptocurrency.
Video: Hard fork of Bitcoin, Bitcoin Cash – how to get it?
BitCoin Cash - how to get it? What it is? Hard fork of Bitcoin and BitCoinCash.
Watch this video on YouTube
Direct selling is most convenient
Many people choose this method at their own peril and risk. However, it has its advantages, which often attract users. To find a buyer, you need to turn to cryptocurrency forums (Bitcointalk, individual topics on Reddit, and the like). There are quite a lot of them out there, so there will be plenty to choose from.
You ask, what are the guarantees that such merchants will be honest? But there are no guarantees: they are equally likely to be reliable or scammers. The benefit is that if you find at least one, you can sell cryptocurrency at a favorable rate without commissions.
Freebitcoin registration
Go to the freebitcoin website. The start page opens.
Fill in the appropriate fields.
E-mail Address - your email address.
Password - come up with and enter a password.
Solve the captcha - enter the words (example azgfaf in the picture) in the Enter captcha here field (enter the captcha here).
Click the big blue Sign up button.
The freebitcoin login page opens.
Fill in the appropriate fields. Bitcoin Address/E-mail Address we enter our email that we used during registration. Enter the password in the Password field. We ignore the two-factor authentication field (2FA Code (optional)) and click on the LOGIN button.
A red window appears with the message “Check your email with the login authorization link.”
Let's go to the post office.
Click on the login link. A message pops up.
Next we are redirected to the freebitcoin start page.
That's all. registration is completed.
Variety of output
Although there are not many withdrawal services, there are a lot of ways to receive fiat money. So, if you use an exchanger, you will have almost all popular electronic payment systems, as well as bank cards, at your disposal.
Exchanges are somewhat limited in this regard, but even here you will have a good choice. Most platforms always work with PayPal, Capitalist and Advanced Cash. Some of them also allow you to withdraw your Bitcoin Cash to a Visa or Master Card.
If you manage to find an honest buyer, then your choice is not limited at all. If you are from the same city, you can even agree on cash payment. This point is the most pleasant because you can see who you are working with.
