Nowadays most of the people use SafePal to keep their crypto safe. Because brother, SafePal is a non-custodial wallet in which your private keys are under your control. Meaning your money is only yours, it is not held by any exchange.
But the problem arises when you want to withdraw money to the bank account. SafePal does not give a direct option of “Withdraw to Bank”. And this is where beginners get confused.
Now understand it straight away – the process is simple:
👉 SafePal → Exchange (Binance/Coinbase/WazirX) → Bank Account
This is the only way.
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Step 1: What is SafePal and why is it used?
Let’s clear a little background. SafePal is a crypto wallet that allows you to safely store your Bitcoin or other coins. It is a “cold wallet” type, meaning secure and hack proof.
SafePal works mainly for 2 things:
Storing crypto safely.
Tracking portfolio.
But it is not a bank or exchange. That’s why you cannot withdraw money directly from here to your bank account.
Step 2: How to withdraw BTC
Now the question in your mind is – “How to send BTC to the bank?”
Straight answer: You will have to use a crypto exchange.
Why?
The exchange is the only place where you can convert your BTC to INR, USD, or other fiat currency.
Bank transfer is possible only through the exchange.
So the role of SafePal is only to send coins to the exchange. Then the role of the exchange is to sell the coins and send the money to the bank.
Step 3: Convert BTC → USDT (Pro Tip)
This step is optional, but I personally recommend it.
Because:
BTC fees are high.
Transfer is a bit slow.
Price volatility is high – If you are transferring and the price falls, you can incur a loss.
That is why most people convert BTC to USDT in SafePal and send it.
USDT is a stablecoin which is equal to USD. Meaning there is no tension of price fluctuation.
Step 4: Sending from SafePal to Exchange
This seems a bit technical but it is easy if you do it once:
- Open the “Deposit” section of your exchange (for example Binance).
- Select Coin (BTC or USDT).
- The exchange will give you a deposit address. Copy it.
- Now open the SafePal app and go to the “Send” option.
- Paste the address and enter the amount.
- Select the network carefully – if you select the wrong network, you will lose money!
- Example: Binance gives TRC20 address and if you send it via ERC20, that transfer will never reach.
Step 5: Send money from Exchange to Bank
Now the funds have arrived in your Binance/Coinbase wallet. Now you have to sell and withdraw it in your bank.
The steps are simple:
- Go to the “Withdraw / Cash Out” section of the exchange.
- Sell BTC/USDT in fiat currency (like INR or USD).
- Add your bank account and verify.
- Enter the amount of money you need and confirm.
Now the money reaches the bank account in 1-2 days (sometimes the same day).
Step 6: Be careful while choosing the exchange
Not all exchanges are the same. It is important to pay attention to a few things:
- Supported countries – Binance does not work everywhere, Coinbase is best for the US, WazirX for India.
- Fees – Some exchanges charge high withdrawal fees. Compare and use.
- Speed – Bank transfer sometimes happens on the same day, sometimes it takes 3 days.
- Verification – KYC should be complete.
Common Mistakes Beginners Make
- Pasting the wrong address – If even one character is wrong, the money is lost.
- Ignoring network selection – Most people lose money due to ERC20/TRC20 confusion.
- Not paying attention to high fees – BTC fee is sometimes $10-$20.
- Using scam exchanges – Withdraw only on trusted exchanges.
- Ignoring tax – The government levies tax on crypto withdrawal. There can be a penalty later.
Real Example (for understanding)
Suppose Rahul has 0.01 BTC in SafePal wallet and he wants to withdraw it to the bank.
- Rahul converts BTC to USDT in SafePal (because the transfer fee is low).
- He opens Binance and copies his USDT deposit address.
- He sends USDT from SafePal to Binance.
- Rahul sells USDT in INR in Binance.
- Then he withdraws INR from the Binance app to his SBI bank account.
And the next day morning the money arrives in his bank account. Easy!
Frequently Asked Questions (FAQs)
Can I withdraw directly from SafePal to a bank account?
No brother, there is no direct option. You will have to use the exchange.
Q: Is Binance the best?
Yes Binance is popular, but Coinbase or WazirX are also good options.
Q: How much time does it take?
SafePal to exchange – minutes. Exchange to bank – same day or 1–2 days.
Q: Is it necessary to convert to USDT?
Not necessary, but it is best for fees and speed.
Q: Is there a withdrawal limit?Q: Is there a withdrawal limit?
Yes, there is a daily limit on the exchange which depends on the level of KYC verification.
Q: Is there a withdrawal limit?
Yes, there is a daily limit on the exchange which depends on the level of KYC verification.
Final Note – Relax and Double Check
Look bhai, the process seems a bit long the first time. But if you do it once, then next time it will take 10 minutes.
Just always remember two things:
Double check the address and network 2-3 times.
Don’t be hasty.
And yes, always keep in mind the fees and taxes while withdrawing crypto.
SafePal is a secure wallet, but if you want to transfer money to the bank, then the exchange will work as a bridge. Now you will be completely clear on “how to withdraw BTC from SafePal to bank account.
