If you’re a bitcoin investor, you’re probably already familiar with Strike. Strike is a payment app that allows you to buy, sell, and store bitcoin. But what do you do if you want to withdraw your bitcoin from Strike? In this article, we’ll explain how to withdraw bitcoin from Strike and what you need to know before you do.
Step 1: Verify your account
Before you can withdraw bitcoin from Strike, you need to verify your account. This is a simple process that requires you to provide your personal information, such as your name, address, and date of birth. You’ll also need to provide a government-issued ID, such as a passport or driver’s license, and a selfie of yourself holding the ID.
Once your account is verified, you’ll be able to withdraw bitcoin from Strike.
Step 2: Transfer bitcoin to your wallet
To withdraw bitcoin from Strike, you’ll need to transfer your bitcoin to your personal wallet. This is a wallet that you own and control, such as a hardware wallet or a software wallet.
To transfer your bitcoin from Strike, follow these steps:
1. Open the Strike app and select the bitcoin you want to withdraw.
2. Click on the “send” button.
3. Enter the amount you want to withdraw and the address of your personal wallet.
4. Click on the “send” button.
Once you’ve completed these steps, your bitcoin will be transferred to your personal wallet.
Step 3: Sell your bitcoin
If you want to withdraw cash instead of bitcoin, you’ll need to sell your bitcoin on an exchange. There are many exchanges that allow you to sell bitcoin, such as Coinbase, Kraken, and Binance.
To sell your bitcoin, follow these steps:
1. Open the exchange you want to use and create an account.
2. Transfer your bitcoin from your personal wallet to the exchange.
3. Sell your bitcoin for cash.
4. Withdraw your cash to your bank account.
It’s important to note that selling your bitcoin on an exchange may result in fees and taxes. Make sure you understand the fees and taxes before you sell your bitcoin.
Step 4: Transfer cash to your bank account
If you’ve sold your bitcoin for cash, you’ll need to transfer the cash to your bank account. To do this, follow these steps:
1. Open the exchange you used to sell your bitcoin.
2. Click on the “withdraw” button.
3. Enter the amount you want to withdraw and the details of your bank account.
4. Click on the “withdraw” button.
Once you’ve completed these steps, your cash will be transferred to your bank account.
Conclusion
Withdrawing bitcoin from Strike is a simple process that requires you to verify your account, transfer bitcoin to your personal wallet, sell your bitcoin if you want cash, and transfer the cash to your bank account. It’s important to understand the fees and taxes associated with selling your bitcoin on an exchange. Once you’ve withdrawn your bitcoin, you can use it for whatever you like, whether it’s to invest in other cryptocurrencies, buy goods and services, or hold onto it for the future.