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Say I buy a Bitcoin from a specific market, like BTC-e, and it goes into my wallet. Is it possible for me to transfer that Bitcoin from its current wallet (BTC-e) into a wallet that I have on another market, like LocalBitcoins? If so, how can I do that and is there a fee?
Also, do all markets (BTC-e, LocalBitcoins, etc.) allow you to withdraw a Bitcoin from your wallet and exchange it for cash?
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1) The exchange that has your bitcoin should have the option to withdraw bitcoins. It will then ask you to what bitcoin address you want to withdraw and how much.
2) The exchange you want to transfer the bitcoin to should have the option to deposit bitcoins, which will give you a bitcoin address to transfer to.
3) You can then directly withdraw your bitcoins to your deposit address.
4) Almost always these kinds of withdrawals and deposits are free except for the miner's fee, which will usually be BTC 0.0001.
5) No, exchange for cash is not always supported. I don't think a lot of exchanges would support this at all actually (unless by cash you also mean bank transfers?)
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All exchange websites have a Withdraw option that allow you to send BTC to another wallet (a local or an online-wallet you own on another exchange website). But be careful, some platform make you pay transaction fees, you'll have to check on the Fees page to find it.
As I said, all exchange platforms have the Withdraw BTC option, and you can in all exchange platforms exchange your BTC for USD / EUR / ... then you can withdraw 'real' (don't like this term) money to a bank account. WARNING : Fees are way higher.
I don't know where John Martin lives, but if he's in the United States, he can use Coinbase. With respect to your first point about being required to pay transaction fees, Coinbase covers the transaction fees when sending bitcoins to another person. They do have a charge for transferring in and out of fiat, but they cover the bitcoin network fees. – Evan Lynch – 2014-06-22T19:36:35.530
I think by 'real' money you mean to say fiat money; money issued by a government. – jorijnsmit – 2017-12-27T04:52:02.327
1You are asking mostly about how to send and receive bitcoins. All the sites you talked about have a deposit and withdraw feature that allows you to send to addresses or receive. – John T – 2014-01-23T06:53:13.453