This is a list of exchanges where you can turn bitcoin into USD AND withdraw the cash to your bank account from within the United States of America.
List of Bitcoin to $USD Exchanges
Updated Fall 2020
- Gemini.com – my current favorite. Trade bitcoin and Ethereum into USD. No limit on wire withdrawals and $100k per month via ACH
- Kraken.com – when and if they get their platform issues fixed and hire enough people to meet demand this exchange can be awesome. *update 1/29 – the new platform is up at the sub-domain, trade.kraken.com AND the site is working much better.
- Coinbase Pro – this is the trading centric version of Coinbase.com. If you have an account at Coinbase you can send bitcoin here free and trade on one of the worlds largest fiat bitcoin exchanges.
- Bitstamp.com – I’m just getting signed up with these guys but it appears USD to bitcoin, ripple and ETH are available
These are the current exchanges where you can sell bitcoin for US dollars and then have the money wired or ACH sent to your bank.
Let’s go over these exchanges real quickly so you can get set up.
Gemini – At the time of this publication (12/22/2017) Gemini.com is running smoothly and processing deposits and withdrawals easily. There is no limit on outgoing wires and once your bank account is set up you can get up to $100k per month via ACH. This is the Winkelvoss twins exchange.
Kraken.com – California based exchange with USD deposit and withdraw options. At the time of this publication the trading platform is horrible, laggy and you are as likely to land on a cloudflare page as you are Kraken. They have been overwhelmed by demand. Once they catch up, if they do, then this exchanged used to offer a lot of great trading features and wire cash outs for USA.
Coinbase Pro – The largest trading volume for the USA brokers is Coinbase Pro. They are the sister site of Coinbase and offer the most liquidity. The withdrawals and deposits are limited on size based on your account levels.
Other Ways to Turn Bitcoin into Cash
If you have a little bitcoin and just want to sell it without the hassle of getting set up on an exchange then you can use a service like Localbitcoins.com.
Simply sign up on localbitcoins and follow the instructions to sell your bitcoin. You can set it up where you can post your bitcoin for sale and individuals can buy it by depositing cash in a bank account of yours or many different payment methods.
You can do the same on the selling side for sites like Bitquick.
I will be building out this page as I find and research more quality and reputable bitcoin to us dollar exchanges.
The one thing these fiat exchanges have in common is that they currently do not offer a wide variety of crypto coins for trading.
If you are looking to buy some of the newer alt-coins (I think of them like penny stock gambling) then you are going to need a crypto trading site that you can trust as well.
I currently like Binance (my review)and put together a guide on how to buy Funfair on Binance because some of my friends wanted to see how it worked. Check them out if you are interested in a quality place to trade the alt-coins for huge risk/reward.