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Does one have to pay a fee to withdraw funds from their bitcoin account into cash?

Murch
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Peter S Doukas
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1 Answers1

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Does one have to pay a fee to withdraw funds from their bitcoin account into cash

  • If you have a Bitcoin account you are either storing money in a service like an exchange or are using an obsolete feature of the Bitcoin core wallet. Many people who own Bitcoin don't have a Bitcoin account - they look after their own cash and don't pay someone else to look after their cash for them.

  • Bitcoin is cash.

If you convert cash from one currency into another, you will pay a fee, sometimes the fee is hidden as a spread between buying and selling rates. This is a feature of currencies in general and has nothing to do with Bitcoin.

If you move control over some amount of Bitcoin from one Bitcoin address to another, you will pay a transaction fee.

RedGrittyBrick
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