To open an account in a local exchange, you have to overcome many obstacles. First, you usually have a bank account - Option 1. You should also find an appropriate exchange that works in your local currency and jurisdiction. Once accepted as a customer (after a long audit period), waiting times and fees are still relatively high. Last but not least, there is a risk that an exchange will be framed or disconnected, something that happened several times in the past.
The common denominators when it comes to sending bitcoins to your bank account are the high entry barriers, the repetition of the KYC's tedious steps, the slow speed and the expensive prices. It can not be transferred to someone other than you through an exchange. With a bank, you always have the threat that your account will be closed at any time or that you will not be allowed to open one in the first place.
Once you have sold the currency to the exchange, you can transfer it to a bank account.
I would recommend using one of the Coinbase (Gdax) trading platform sites to make an exchange and not be the market creator and there will be no charges. If you go straight, there are% based on the rates you can really add up.Sell Blockchain Funds Withdraw Bitcoins To Bank Account
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