Quick answer
To sell Bitcoin on an exchange, verify an account with one that serves your country, deposit BTC to its Bitcoin address, sell it for your currency with a limit order on the advanced screen, and withdraw to a bank account in your name. At the lowest tier, Kraken Pro charges 0.40% maker and 0.80% taker, Coinbase Advanced in the US 0.50% and 0.90%, and Binance 0.10%. Bank withdrawals take from minutes to five business days.
This walkthrough is part of our Bitcoin cashout guide and covers the exchange route only: deposit, sell, withdraw. Every fee, limit and timing for Kraken, Coinbase and Binance was checked on 3 November 2026.
Curious how Zilligo itself buys BTC, with no exchange account involved? That is on the Bitcoin page.
Which exchange should you sell Bitcoin on?
The one that serves your country and pays out to your bank in your currency. Low fees mean nothing if the exchange cannot send money to your account.
| Exchange | Who it serves | Bank payouts | Watch out for |
|---|---|---|---|
| Kraken | The US, Europe and many other countries | ACH, FedWire and RTP in the US; SEPA in euros | Withdrawal limits tied to your verification level |
| Coinbase | The US, the UK, the EU and others | ACH, wire and debit card in the US; SEPA in euros | Simple Sell prices include a spread it does not publish |
| Binance | Not US residents; EU service cut back after July 2026 | SEPA in euros, depending on country | Missed the EU's MiCA licence deadline of 1 July 2026 |
Availability changes by country and, in the US, sometimes by state. Check the exchange's own list before you sign up.
What do you need before your first sale?
A verified account. Regulated exchanges must confirm who you are before you can sell and withdraw, and the check comes before your first deposit.
Have these ready
- A valid passport, driving licence or national ID card.
- Your phone, for the selfie and the security codes.
- A recent bank statement or utility bill, if proof of address is asked for.
- Your tax number where the exchange needs it, such as an SSN in the US.
- A bank account in exactly the same name as the exchange account.
- An authenticator app for two-factor sign-in.
Most checks clear within minutes. A blurry photo, a name that differs between documents or a request for extra papers can stretch it to days, so verify before the day you need the money.
How do you deposit Bitcoin to an exchange?
Copy the exchange's Bitcoin deposit address, send BTC to it from your wallet on the Bitcoin network, and wait for the exchange to credit it after its required confirmations.
- Step 1Open Deposit for BTC
In the exchange, find Bitcoin and choose Deposit or Receive.
- Step 2Choose the Bitcoin network
If a list appears, pick Bitcoin. Lightning or a token on another chain is a different deposit.
- Step 3Copy the address
It starts with bc1, 3 or 1. Copy it; never retype it.
- Step 4Send from your wallet
Paste, check the first and last characters, enter the amount and keep the suggested fee.
BitcoinCompare the first and last six characters with the exchange's deposit screen.
SendExchanges credit a deposit only after a set number of blocks, so allow anything from about 20 minutes to an hour. Why it varies is in Bitcoin confirmation times.
Should you use the Sell button, a market order or a limit order?
Use a limit order on the advanced screen if you can wait a few minutes. It usually pays the lowest fee. The simple Sell button is easier but adds a spread on top of its fee.
Simple Sell or Convert
- One screen: amount, then Sell
- Kraken's app charges 1%
- A spread sits inside the price
- Fine for a small first sale
Advanced trading screen
- Live order book and price
- Market or limit orders
- 0.10% to 0.90% at the lowest tier
- Worth learning above a few hundred dollars
| Market order | Limit order | |
|---|---|---|
| What it does | Sells now at the best bid on offer | Sells only at your price or better |
| When it fills | In seconds | When the market reaches your price, or never |
| Price risk | Can slip on a large amount | None, but it may not fill |
| Fee | Taker rate | Maker rate, if it rests on the book |
The two order types on every advanced screen. A post-only option guarantees the maker rate.
What does each exchange charge to sell Bitcoin in 2026?
At the lowest volume tier: Binance 0.10%, Kraken Pro 0.40% maker and 0.80% taker, Coinbase Advanced in the US 0.50% and 0.90%. Simple Sell screens cost more.
| Exchange | Simple Sell | Advanced, maker / taker | Notes |
|---|---|---|---|
| Kraken | 1% plus a spread | 0.40% / 0.80% | 0.30% / 0.60% from $2,500 of 30-day volume, 0.22% / 0.38% from $10,000 |
| Coinbase | Fee and spread shown in the order preview | US 0.50% / 0.90%; EU and UK 0.25% / 0.50% | New tiers from 16 September 2026; first discount at $10,000 of volume |
| Binance | Convert prices include a spread | 0.10% / 0.10% | 0.075% when fees are paid in BNB |
Lowest-tier spot rates, checked 2026-11-03: Kraken's fee schedule, Binance's fee page and the Coinbase change reported by Securities.io on 16 September 2026. Fees change; the order preview is final.
What $1,000 of Bitcoin sells for, before the bank withdrawal
Notice the gap between top and bottom: about $14 on $1,000, all from the choice of screen and order type. On $20,000 the same gap is roughly $280.
How do you withdraw the money, and what are the limits?
Choose Withdraw, pick your currency and your linked bank, and confirm. In the US, ACH is free on Kraken and reported free on Coinbase; in Europe, SEPA costs about €1 on Kraken and Binance.
| Exchange and method | Fee | Time | Limit |
|---|---|---|---|
| Kraken, ACH (US) | Free, $1 minimum | 0 to 2 business days, 2 pm ET cutoff | Set by your verification level |
| Kraken, FedWire (US) | $4, $20 minimum | 0 to 1 business day | Set by your verification level |
| Kraken, RTP (US) | 1.50%, at most $50 | Within minutes | Your bank must support RTP |
| Kraken, SEPA (EUR) | €1, €2 minimum | 0 to 5 business days | Set by your verification level |
| Coinbase, ACH (US) | Free (reported) | 1 to 5 business days (reported) | About $100,000 a day (reported) |
| Coinbase, wire (US) | About $25 (reported) | Same day if sent before the cutoff | About $100,000 a day (reported) |
| Coinbase, to a debit card (US) | About 1.5% (reported) | Usually minutes | Often about $2,500 a day |
| Binance, SEPA (EUR) | Typically €1 | Up to 3 business days, or up to 24 hours for the faster option | Set by your verification level |
Kraken from its support page and Binance from its SEPA FAQ (updated 10 July 2026), both checked 2026-11-03. Coinbase blocked our checks, so its figures are as reported by Coin Bureau (updated 2 October 2025); confirm them in the app.
The bank account must be in the same name as the exchange account. Exchanges do not pay third parties, and a name mismatch sends the money back.
- Monday 9:00Account already verified
Your bank was linked last week.
- Monday 9:10BTC deposit sent
Credited after its confirmations, around 9:50.
- Monday 10:00Limit order placed
Filled a few minutes later at your price.
- Monday 10:15ACH withdrawal requested
Well before the 2 pm ET cutoff.
- Monday to WednesdayMoney in your bank
0 to 2 business days on Kraken. A weekend in between adds two days.
Your banknow
Deposit posted: $995.00ACH credit from your exchange account.Other ways into a bank, including ones that skip the exchange, are compared in Bitcoin to a bank account.
What records do you need for tax after selling?
In most countries a sale of Bitcoin is a taxable event, so keep the details of each one. This is general information, not tax advice; crypto tax when you cash out goes further.
US brokers report crypto sales to the IRS on Form 1099-DA. For sales from 2026 they must also report cost basis, but only for coins bought on that platform after 2025. Coins bought earlier, or deposited from your own wallet, often show no basis, and your records fill the gap.
Keep this for every sale
- When you bought the BTC, how much and at what price.
- When you sold it, how much and what you received.
- Every fee: network, trading and withdrawal.
- The transaction ID of each deposit to the exchange.
- The exchange's yearly tax statements.
When is an exchange the wrong tool for selling Bitcoin?
When you have no verified account and do not want one, or when the money has to go somewhere an exchange cannot pay, such as Cash App, Venmo, a gift card, a virtual Visa or a cash pickup.
Exchange
- Cheapest with a maker order, 0.10% to 0.50%
- Needs ID checks and a linked bank
- Pays your own bank
- Withdrawals from minutes to five business days
Zilligo payout
- 1% to 2%, shown in the quote
- Free account, no ID documents for a standard order
- 22 payouts: banks, apps, cards, gift cards, cash pickup
- Rate held 20 minutes; SEPA in about 1 to 2 hours
Our side-by-side pages go further: Zilligo vs Coinbase and Zilligo vs Binance. Every payout fee is on the fees page.
Now it is your turn
The exchange route never changes: verify, deposit, sell, withdraw, keep records.
What changes the result is one decision in the middle, the screen you sell on. A resting limit order on the advanced screen keeps several dollars in every thousand that the Sell button gives away.
Set up the account before you need the money, and the rest takes an afternoon.
Start a cashoutFrequently asked questions
Which exchange is cheapest for selling Bitcoin?
At the lowest tier, Binance's 0.10% spot fee, where it serves you. In the US, Kraken Pro's 0.40% maker fee sits just under Coinbase Advanced's 0.50%. Add the withdrawal fee before you compare.
How long does it take to sell Bitcoin on an exchange?
The deposit takes about 20 minutes to an hour to credit, the sale seconds to minutes, and the bank withdrawal from minutes to five business days. A first sale also needs an ID check, which can take days.
Can I sell Bitcoin on an exchange without ID?
Not on a regulated exchange: it must verify you before you sell and withdraw. For the honest options that skip document uploads, see cashing out without KYC.
Why has my Bitcoin deposit not appeared on the exchange?
It is usually still waiting for the confirmations the exchange requires. If a block explorer shows it confirmed and it is still missing after an hour, send the transaction ID to the exchange's support.
Is there a limit on how much I can withdraw after selling?
Yes, set by your verification level. Kraken and Binance publish no single figure; Coinbase's ACH limit is reported at about $100,000 a day for verified US accounts.
Is selling on an exchange cheaper than a payout service?
Usually, for a sale into your own bank using a limit order. The simple Sell button can cost more than a 1% bank payout, and exchanges cannot pay Cash App, Venmo, gift cards or a cash pickup.
Sources
- Fee scheduleKraken
- Cash withdrawal options (fees, minimums and processing times)Kraken
- Coinbase lowers Advanced trading fees with tiers starting at $10,000Securities.io
- Cash out on Coinbase: steps, fees, limits and speedCoin Bureau
- Fee scheduleBinance
- Frequently asked questions on EUR bank transfer via SEPABinance
- Binance suspends EU services by July 1 after failing to secure MiCA licenseUnchained
- Instructions for Form 1099-DAIRS
- About Form 1099-DA, Digital Asset Proceeds From Broker TransactionsIRS
