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I don't plan on withdrawing my cardano at least for the next 10+ years, but being new to this what steps would I need to take to be able to withdraw out of my daedalus wallet to my us bank account. I'm 62 and just a novice to everything thank you anything would be helpful

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As of now, you cannot deposit crypto currencies to US banks (as far as I can tell). That means that if you want to withdraw you ADA into a US bank you have to first sell it for USD and then you can send the USD to the bank.

You can sell your ADA from USD by a couple different methods for example:

  • Use an exchange like Coinbase or Binance
  • Find somebody willing to trade USD for ADA with you. You can do it over the internet or in person.
  • Use a crypto ATM

In the future with sufficient regulation banks may be able to take crypto currencies directly so that would mean you could send ADA directly to you bank account.

The ultimate vision for crypto is that it is so prevalent in the future that you basically won't have to sell it for USD because you could pay for everything with crypto directly. That way you do not need USD or a traditional bank account.

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  • thanks for the feedback, I bought my cardano with binance, so you are saying I could do it in reverse? exchange wallet balance back to binance and then withdraw to bank acct from binance? thanks again
    – Jim
    Aug 13 '21 at 22:56
  • 1
    Yes, you could do it in reverse. Aug 14 '21 at 6:54

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