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
- Gemini.com – my current favorite US fiat exchange. Deposit and withdraw USD, *10 free withdrawals per month. Trade bitcoin and Ethereum into USD. No limit on wire withdrawals and $100k per month via ACH
- Kraken.com – a fantastic US regulated option with security and strong liquidity.
- Coinbase – Coinbase.com. is the most new user friendly of the bunch. If you have an account at Coinbase you can send bitcoin over to their ‘pro’ version without additional fee’s and trade on one of the worlds largest fiat bitcoin exchanges in the USA.
- 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.
*at the time of first publication, always confirm on the exchange itself
Gemini – Arguably my favorite fiat exchange, Gemini offers 10 free withdrawals per month. If you have been burned by Binance charging big withdrawal fee’s then you should look to Gemini. Historically back when I first wrote this article (12/22/2017) Gemini.com is running smoothly and processing deposits and withdrawals easily. That is a long time ago in the world of crypto. 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. Kraken is the first U.S. exchange to charter a bank. If you are looking for a reputable exchange then Kraken should be on your short list. I first began trading with them in 2016 and at first, the trading platform was downright horrible. It was laggy and you were as likely to land on a cloudflare page as you are the Kraken interface. Kind of like the inside joke about Coinbase always being down during a peak of a bull run or if bitcoin is dropping hard. Kraken did it first. They were overwhelmed by demand. Today they have a much better handle on things and offer traders or people looking to buy bitcoin at the best market price then look to Kraken.
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.