2 Reasons You Can't Withdraw Bitcoin
45sImmediately addresses a common pain point and teases the possibility of being scammed, which is both relatable and alarming.
▶ Play Clip"Delivers a practical guide with a real example, but the sponsor segment and repetitive explanations add some fluff."
This video provides a step-by-step guide on how to withdraw Bitcoin from a crypto platform to a bank account, using Binance as an intermediary. It covers the process of transferring crypto to Binance, converting it to USDT, and selling it via P2P trading for fiat currency. The video also helps viewers identify signs of a scam if they are unable to withdraw funds.
Either you don't know how to withdraw to your bank, or you've been scammed. The video will show how to withdraw and how to detect a scam.
Crypto platforms differ from banks; you need to send crypto to a platform like Binance that supports P2P trading and bank transfers to convert to fiat and send to your bank.
Some platforms like Holdler don't convert crypto to fiat, so you must first send crypto to Binance, then convert and withdraw.
Holdler is a regulated crypto platform in Switzerland, Argentina, and EU. Offers interest on crypto (average 15% APY) and a mining feature with sparks.
Holdler offers bank withdrawal only for US and Europe; for Latin America, you need to send crypto to Binance.
Log into Binance, verify account, and use Binance Pro for deposits and withdrawals.
In Binance, go to 'Add funds' > 'Chain deposit', select Bitcoin and network. Copy the deposit address.
On Holdler, select the network (Bitcoin or Binance SmartChain). Compare fees: $14 for Bitcoin, $85 for BSC. Choose the cheaper one.
Ensure the network you send from matches the one you selected on Binance to avoid loss of funds.
Enter the amount, confirm with 2FA code, and the withdrawal is processed. Transfer takes 1-2 minutes.
On Binance, convert Bitcoin to USDT (stablecoin pegged to USD) using a market order.
Transfer USDT from spot account to funds account to enable P2P trading.
Go to P2P section, choose 'Fast' or 'Express', sell USDT for local currency, select payment method (e.g., bank transfer).
Create an order, wait for the buyer to deposit fiat, verify receipt, then release USDT. Never release before receiving payment.
Scam signs: sending money directly to a person, promised high returns, being charged a tax, or high withdrawal fees.
Crypto platforms charge pennies for transfers; high fees (e.g., $500) are a scam indicator.
The video provides a clear, practical method to withdraw crypto to a bank via Binance, emphasizing network matching and P2P security. It also equips viewers with red flags to identify scams, ensuring they don't waste time or money on fraudulent platforms.
What are the two reasons you might not be able to withdraw crypto to your bank?
Either you don't know how to withdraw, or you've been scammed.
00:02
Why do you need to use a platform like Binance to withdraw to a bank?
Some platforms don't convert crypto to fiat, so you need to send crypto to Binance which supports P2P trading and bank transfers.
00:30
What is the average annual interest paid by Holdler on cryptocurrencies?
15% average annual interest.
02:30
What is the first step to deposit Bitcoin into Binance?
Go to 'Add funds' > 'Chain deposit', select Bitcoin and choose a network.
04:43
Why is it important to match the network when sending crypto?
To avoid loss of funds; the network you send from must match the one you selected on the receiving platform.
05:49
What is USDT?
A cryptocurrency equivalent to US dollars, used to send money to a bank account.
07:03
What is the key rule when selling USDT via P2P?
Never release the USDT until you have received the money in your bank account.
10:23
List four signs that you have been scammed.
Sending money directly to a person, promised high returns, being charged a tax, and high withdrawal fees.
11:16
What is a typical withdrawal fee on crypto platforms?
Pennies, sometimes up to $5 or $10, but usually less.
12:34
Two possibilities for withdrawal failure
Sets the stage for the entire video, distinguishing between lack of knowledge and scam.
00:02Network fee comparison
Shows practical cost-saving by choosing the cheaper network ($14 vs $85).
05:09Never release before receiving payment
Critical security principle for P2P trading to avoid fraud.
10:23Scam red flags
Provides actionable warning signs to protect viewers from scams.
11:16[00:02] cryptocurrency platform, one of the following two things is happening. One of them is that you don't know how to withdraw it to your bank account, and that's what I'm going to show you how to do in this video. The other thing is that you've been scammed, so
[00:14] no matter what you do, you'll never be able to get it back. I'll also help you detect if you've fallen for a scam so you do n't waste any more time. Let's begin. do, let me show you the following. Crypto platforms are very different
[00:30] from what a traditional bank is. If you have Bitcoin on any crypto platform, what you have to do is send it from one of these platforms, obviously to your bank. But some of these platforms don't have methods to
[00:43] send your money to the bank. When you send money to the bank, what you have to do is send it to a platform, such as Binance, which allows you to send your money to the bank through P2P trading and
[00:57] bank transfer. Once you have your money in pods, what you have to cryptocurrency, for example, Bitcoin, convert it into your national currency and then through one of these two methods send that currency to your
[01:11] bank account. But some cryptocurrency platforms, such as Holdler, among many others, do not have this function of converting Bitcoin into national currency. Therefore, you cannot send money directly from these platforms
[01:24] to your bank account. First you have to send it to a platform like Binance and then do that process. So, what I'm going to do next is show you how you can send Bitcoin from
[01:36] any crypto platform or wallet you have it in, to a platform like Binance. And once you have that Bitcoin on a platform like Binance, I'm going to show you how you can send it to a
[01:48] bank account. If for some reason the platform where you have your money doesn't means you've fallen for a scam, and I'll help you identify that. I currently have a little Bitcoin on this platform called Youth Hol
[02:02] the video, I want to take this opportunity to tell you a little about this platform, since they are sponsors of this channel. Holdler is a crypto platform with a global presence and regulation in Switzerland, Argentina, and the European Union.
[02:17] cryptocurrencies with a plastic card, bank transfer, and also with other cryptocurrencies. Once you have the cryptocurrencies, you can also put them returns account. In fact, this is where I
[02:30] have several cryptocurrencies for which I am being paid an average annual interest of 15%. This may vary a little depending on the cryptocurrency you have, but I have these five cryptocurrencies here. Another quite interesting and
[02:43] which is a mining service that allows you to accumulate a little bit of tokens. By using the platform, you will You can use those sparks to activate these blocks. At this
[02:56] moment, each block costs me 20 sparks to activate. I'm going to activate a couple. After this time is over, those blocks will be ready to be mined. I already have two little squares ready here, I'm going to press them and you can
[03:09] see how my amount of satoshis has increased. If you'd like to learn more about this platform, I'll leave a video above and By entering the code INGR50 that I'll show you on the screen, you'll get
[03:23] 50 sparks when you create your account. You can use those sparks to activate these blocks and thus mine a little Bitcoin for free. And well, going back to the platform, this money that I have here, in fact, I have here, well,
[03:35] apart from the cryptocurrencies that I have working, I have these 24 in Bitcoin. to my bank account, but if I press send here on the platform , as you can see, it does have the option to withdraw it to a bank account,
[03:49] but these bank accounts are only available for the United States and Europe. For Latin America, in this case Mexico, I have no option. That's send the money from Youoler to a platform like Binance, which I
[04:03] Latin American countries. So, what I have to do is log into my Binance app, which by the way, this Binance account has to be verified. I'm to some benefits, and if you have any problems
[04:18] leave a video up here. Once your account is verified, click on this section, this Binance icon in the upper left corner, and then click on Binance Pro. This is the version of Binance we'll use to make the
[04:31] deposit to our bank account. Once your Vinance account is ready, the first thing we need to do is deposit the Bitcoin we have in Youolder. To do this I have to press this section that says add funds and
[04:43] we are going to press chain deposit. Here you select the cryptocurrency you wish to send, which will be Bitcoin. Here it asks me to select which network I'm transferring to. This network is the pathway through which cryptocurrencies will flow
[04:56] from Holdler to Binance. So, for this I'm going to go back to my YouTer app and press send. And here I press this that says crypto wallet. I select the cryptocurrency I want to send, which will be Bitcoin. And here
[05:09] Youer offers me two options, two networks to make the shipment, one on the Bitcoin network and the other on the Smartha B20 vain. In the first one, I want you to pay close attention to the commissions. They're charging me $14 on the Bitcoin one
[05:23] and $85 on Binance SmartChain. So I'm going back to Binance, okay? And I see that it does accept both Binance networks, both the Binance SmartChain, Bitcoin network. I'm going to select the cheapest one, which is the first one, the
[05:37] deposit address. I can scan this QR code or simply going to do right now. Then I'm going back to Hol and I'm going to select the
[05:49] same network that I selected on Binance, which was this one, the Binance SmartChain. Make sure the network that sends is the one that receives. Don't cross the networks because The network and destination address have already been selected here. Here I'm simply
[06:02] going to paste the address we copied from Binance. You can even verify that it's the same to be 100% sure. Next, enter the amount you wish to send. I'm going to send everything. Here I'm going to select that it's going to be myself. And
[06:15] here, for security, I have to enter a six-digit code that I have in this application. Once you enter the code, press withdraw and at this moment the withdrawal is being processed. D holder's cryptocurrencies are already on their way
[06:27] to Binance. Next, we're going to go back to Binance, and we'll come back Let's go to this section that says assets and under the spot account
[06:39] here we will have Bitcoin. Okay, let me recharge. Here we already have the Bitcoin that we sent to this platform. That transfer usually takes a minute or two, sometimes it can take a little longer. The next step will be to send
[06:51] this Bitcoin from Binance to our bank account. To do this, we are going to convert this Bitcoin into another cryptocurrency called USDT. USDT is a cryptocurrency that is equivalent to
[07:03] US dollars and is the one we will use to send money to our bank account. Just follow my step-by-step instructions and you'll see that you'll have your money in your select Bitcoin here, press it and the Bitcoin/USDT pair will appear
[07:16] . You're simply going to select it and press this button here that says sell. Here where it says limit you're going to change it and put this thing that says market. We're going to place a market order, and here you're going to slide this little
[07:30] sell all the Bitcoin you have, or press sell BTC. Then you become active again and we go back. And right here in this spot account we no longer have Bitcoin, now we have about
[07:44] $23 in UST. The next thing we need to do is send this USDT from the spot account to the funds account. You press transfer from spot to USDT funds and enter the amount you want to transfer, then press confirm
[07:59] transfer and that's it. At this moment we already have the money in this account that says funds. If for some reason you are unable to make that spot to funds transfer, it may be that your summary shows that the
[08:11] continues processing, you will not be able to make the maximum of 30 minutes. But hey, we already have that money in the fund account. Then, to send it to the bank, what you have to do is go to
[08:24] this section that says home and here you will see this that says P2P. Or if you don't go any lower and you slide down and under trade you'll find this that says under trade you'll find this that says P2P. This P2P or P2P trading is the
[08:38] Binance users. Since you're here, you're going to press this that says "fast" or " express," and this is where we're going to sell the UST for our national currency. You press the sell button, select how much UST you want to sell.
[08:53] I want to sell everything I own, which is 22, almost 23. Here, select the payment method that suits you best. This may vary slightly from country to country. For example, if you select an example, then it goes north,
[09:05] here you will have to add your bank account. Here you enter the interbank code, your full name and the name of the bank. This may vary slightly depending on the bank. In my case, I'm going to do it by
[09:17] bank transfer and I already have my account added here. You press update and here we press preview. This person is going to buy the USDT from me; they will give me approximately 387 Mexican pesos. If I agree, I
[09:31] simply press enter order and at this moment an order has been created. Around this time, this person will deposit pesos shown here into the bank account I provided. I also
[09:44] communicate with this person. At this for this person to notify me that they have already made the bank transfer. So I'm going to pause the video and come back
[09:56] once I'm transferred. A couple of minutes have passed and the person has already told me that they have made the deposit here in the chat. He even sent me a transfer, but I logged into my bank account and I still didn't have any
[10:10] send him a message telling him that the deposit hadn't been credited yet, and that once it was credited I would release it. When you go through this process, the only thing you need to know and be very clear about is that you will not release the UST until
[10:23] you have the money in your bank account. I logged back into my . You can see it here in this screenshot. I already have the money in my account. So now I can proceed to release the USD. What I
[10:37] have to do is press this button that says payment received. I verify that I have received the exact amount that we already received and then I confirm the release. Here I have to enter a code or my
[10:49] . And well, at this point we have already completed the entire process, we have gone from having Bitcoin, we sent it to Binance, we converted it into UST and we sent that UST to our bank account. I already have the 384s.
[11:04] If for some reason you were unable to withdraw your money from the platform where you tell you, but you've fallen for a scam. And here I'm going to share with you some signs that you've fallen for a
[11:16] scam. One of them is that you sent money to a person. If someone directly to that person, I'm sorry to tell you that they have been scammed. For send money from a cryptocurrency platform to your bank account, and at
[11:30] no point did I send money directly to a person. I did everything through crypto platforms. The second sign that you have probably been scammed is that you were promised high returns. If
[11:42] someone contacts you saying you'll earn 100% on your money, for example, if you give me $100 and in 24 hours I'll turn it into $200, that's a scam. If you give me $1,000 and in a year I'm going to give you back $2,000, that's also a
[11:56] scam. When you invest in Bitcoin or something like that, there is no guarantee. that you have probably been scammed is that you are being charged a tax. Sometimes when you enter a scam
[12:08] to withdraw money, it tells you that you have to pay a tax. No platform will charge you a tax. You are solely responsible for the money to your bank account, if you want to be on good terms with your government, then you have to
[12:20] pay those taxes. And the final sign that you've been scammed is that they charge you high withdrawal fees. When we made the withdrawal from fees were a maximum of $2.
[12:34] Crypto platforms typically charge you pennies to make a transfer. Sometimes, even if the commission is very high, it might be around $5 or $10, exaggerating, but usually it's less. So, if someone, for example,
[12:47] tells you that you earned $1000 with $100, but they're charging you $500 to make a withdrawal, that's a scam. These last two points, both the tax and the high commissions, are just what the scammer wants: for you to send him more money
[13:00] with the promise that he will return all the money you supposedly earned, but you haven't earned absolutely anything. If you have any of these signs on the platform where your money is stuck, I'm sorry to tell you that you've been
[13:12] scammed because no legitimate crypto platform will impose any of these conditions. And well, I hope this video has been helpful in enabling you to withdraw that money from any crypto platform to your
[13:24] can leave them in the comments. I always do my best to answer. I also invite you to become part of the Seven Incomes community. short educational content, join the Telegram channel, or also become part
[13:38] interact with other investors. I'll leave those links along with the links for pods and holders in the description of this video, and you'll also videos up here. In this video you can learn more about our sponsor
[13:51] and I'll show you in more detail the process of sending money from Binance to your bank account. I'll say goodbye here for today.
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