Bitcoin

How to convert bitcoin to cash

When you cash out bitcoin, the bitcoin is sold immediately. This action cannot be reversed. The cash proceeds from the sale are then sent to the external bank account linked to your Coinbits account. It may take up to two business days for the cash to appear in your bank account.

How to use Cash Out

In the sidebar, click Cash Out. If you’re sure you want to proceed, click Continue.

Enter the dollar amount you’d like to receive. The minimum amount of bitcoin you can cash out per transaction is $1.

You can cash out any amount that is less than or equal to the amount displayed next to “Available to Cash Out”.

Your default payment method is pre-selected and this is where your funds will be sent. Click “Continue”.

Review the information, and if it looks good, check the box to acknowledge you’ve reviewed it and click “Cash Out”.

Enter the 2-factor authentication code from your authenticator app.

Important: After this step, you will receive two emails. The first email is a receipt for the transaction from Coinbits. The second email is a disbursement confirmation from our banking partner, Prime Trust. For your funds to transfer to your bank account, you need to click on the verification link in the email sent from Prime Trust.

Once you confirm the disbursement, your cash will be sent to your bank account. This may take up to two business days.

Updated on:
November 20, 2022