Withdrawing Your Bitcoins
There are two options to withdraw bitcoins that will be presented. There are multiple other ways, but they are significantly more complicated.
Option 1 : Sell bitcoins for fiat with Bull Bitcoin
On bullbitcoin.com , you can sell your bitcoins using the Lightning network and receive fiat in any Canadian bank account, or pay a bill on the same or next business day.
Just click on the Sell Bitcoin button on the left-hand menu, and select the Lightning Network as your payment network. Copy the payment invoice and paste it into your Ride the Lightning (RTL) Wallet payment section.
On RTL wallet:
Under
Lightning, click onTransactions.Under
Payments, click onSend Payment(you don’t need to touch the Advanced Options).Enter the Payment Request and click
Send Payment.
Option 2 : Sends bitcoins to an external wallet to convert into on-chain Bitcoin
Wallet 1 : BlueWallet
Once you created a Lightning wallet in BlueWallet, create an invoice to paste into RTL by clicking on Receive(as in the instructions described above).
Once you have funds in your Lightning wallet, click on Manage Funds (in the Lightning wallet).
Now click on Exchange. This will open up a website where you can send Bitcoin on the Lightning Network and they will send you an equivalent minus fees to a Bitcoin address that you provide.
Wallet 2 : Breez Wallet
Once you created a Lightning wallet in Breez Wallet, create an Invoice to paste into RTL by clicking on Receive(as in the instructions described above).
They will charge a small processing fee that is only applicable to the first transaction.
Now that you have bitcoins in your Lightning wallet, click on
Send.Select
Send to BTC address.Enter your address and confirm the transaction.
They have a system where it looks like they treat on-chain BTC and Lightning BTC as if they were the same, but there is a swap going on behind the scenes.
If you are using the Bull Bitcoin hosting service, please contact your account manager to withdraw funds.
Last updated
