Best Way To Change Bitcoin To Cash
Are you Bitcoin or any Altcoin holder?
And looking for ways and methods to convert your crypto to fiat money, or, you just one of crypto enthusiastic whose intention to know more about cryptos and how to convert crypto to cash.
If you’re one of those, then you can find some easy and best ways to convert your crypto to cash in this post.
Ok, let’s dive into it…
The single best way to cash out large amounts of Bitcoin is through something called an OTC (over-the-counter) transaction. An OTC transaction occurs when a private buyer and private seller are linked together by an intermediary to facilitate the swap. The intermediary acts as the trusted middle-man that receives the funds and the Bitcoin first.
1. Through Cryptocurrency Exchanges.
The exchangers are sorted by the rate, with the best rates on the top. To select an exchanger, you may want to check its reserves and reviews. To exchange money, click on the exchanger you choose and go to. Digital Currencies and Fiats. Several well-known exchange companies can convert your Bitcoin in.
Through Cryptocurrency Exchanges you can convert your cryptocurrency to cash very easy.
Now, almost all crypto exchanges can convert Bitcoin to famous fiat options like USD, EUR, GBP.
But most exchanges cannot able to convert crypto to Rupee, Dinar, Ruble or any other fiat currencies because they have only limited options to cash out crypto. However, you can find out any local exchange on that particular fiat option to cash out your crypto.
Also, most
They only have options like Bitcoin, Ethereum and Ripple sometimes only Bitcoin.
If you’re the holder of any altcoins or tokens other than they offer, then you have to find other ways to cash out your crypto.
But don’t worry below is the list of exchanges can help you to convert most of the coin to cash.
- Coinbase.
- Bitfinex.
- bitFlyer.
- Bitstamp.
- BitMex.
- Kraken.
- Livecoin.
Using these crypto exchanges, you can easily convert your cryptos to cash.
But, the main drawback is they do
If you’re one of those who
2. P2P Exchanges.
P2P exchanges mean Peer-To-Peer exchanges, these kinds of exchanges do
That means there is no central authority to control crypto transactions.
Thing is. I call them as Person-To-Person exchanges because if you have crypto or looking to buy one then, you can directly contact buyer or sellers through these P2P platforms.
A good thing about these exchanges is you can use your crypto to send as shopping gift cards or use them as donations and much more.
Ok, let’s look at some P2P exchanges by detail because there is only a handful of them.
a. LocalBitcoins.
LocalBitcoins is one of the popular and best-known P2P exchange.
It is based out of Helsinki, Finland, and operates since 2012.
It’s a semi-anonymous service that focuses on simplicity and privacy, offering in-person, local exchanges of crypto assets and online transfers backed by on-site escrow.
The good thing about them is they display the number of transactions, feedback scores and response times for every user, for safer decisions.
They have buyers and sellers from more than 15,000 cities across 248 countries!.
This platform uses Bitcoin as its base currency and focuses on fiat transactions but supports Litecoin, Ethereum, Dash, Monero, and Ripple exchanges.
If you want to convert altcoins to fiat, then you must first sell them for bitcoins, then sell the bitcoins for fiat.
Also, they have wide payment options like PayPal or SEPA or direct bank deposits for converting Bitcoins into cash (USD, EUR, INR, JPY, CNY, AUD, Dinar etc) remember all these payment options depend upon buyers and sellers.
But One Thing Is… Make sure about buyer or seller had a good reputation, higher reputation means a trustworthy buyer or seller.
If you’re interested in LocalBitcoins to make your first P2P transaction then check out their Website.
b. Paxful.
Paxful is another P2P crypto exchange, but this exchange is not as popular as LocalBitcoins.
But this exchange has more than 300 ways to convert your crypto funds!.
That includes some popular ways like Direct Bank transfer, Through Amazon Gift card, or Western Union etc.
This exchange also uses Bitcoin as the
Also, know that if you want to convert altcoins to fiat, then you must convert them to bitcoins first.
At the time of writing, this exchange satisfied more than 55,000 customers with more than 1,000 offers!.
If you want to get your first P2P experience with Paxful then check out their Website.
c. BitQuick.
It is a P2P exchange that uses only Bitcoins to convert fiat.
And it is potentially slower exchange than the other direct sale sites because of the manual purchase verification process, which takes around three hours on average.
With the help of this exchange, you’re able to convert your Bitcoin to fiat only in 3 ways.
The first way is, a simple cash deposit to a bank, another is cash deposit to a CO-OP credit union, last way is by using Western Union or Moneygram transfer.
BitQuick served more than 88,000 customers and transacted more than 55,000 Bitcoins.
If you want to use their service to convert your Bitcoins then check out their Website.
d. HODL HODL.
With this P2P exchange, you’re able to convert your crypto funds directly through your crypto wallet without any middlemen involved.
This exchange doesn’t hold user funds instead of locking it in multisig escrow which minimizes the possibilities of cryptocurrency theft and reduces trading time.
If you’re not able to understand how this exchange work then checks out below video by them with a real-world example.
Now you have understood the concept of HODL HODL exchange.
If you’re interested in HODL HODL then you can check out their Website.
Ok, above are some best P2P crypto exchanges those can convert your crypto to fiat easily.
How To Turn Bitcoin Into Cash
Let’s move on to the next simple way to convert your crypto.
3. Through Cryptocurrency ATMs.
Do you know there are over 1,600 Bitcoin ATMs available in the US alone!.
More than 3,000 cryptocurrency ATM working worldwide.
Yes, these crypto ATMs not only spreading cryptocurrency awareness to the
With crypto ATMs, you can convert your crypto to fiat easily and the majority of ATMs are only supporting Bitcoins but some ATMs are supporting over 50 cryptocurrencies to make transactions.
These ATMs can work with both hardware and software wallets, and another good thing about them is you can use them to send or receive payments from other countries by using public crypto wallet addresses.
Now, look around in your city for crypto ATM if you fund one that’s good and make your first crypto ATM transaction.
If you did not find anyone yet then, this Website may helpful for you to find one.
4. Through Cryptocurrency Debit Cards.
Now you can use crypto debit cards to make any fiat transactions worldwide.
Yes, there are many crypto service providers provides a crypto debit card and those cards tied to your crypto holdings to help you to spend your crypto easily.
For example, crypto exchange Coinbase has a Visa Bitcoin debit card, which
Crypto debit cards are very convenient because you can use them in Stores, To watch movies or you can use them in crypto ATMs etc.
Here is the list of Top Crypto Debit Cards.
Conclusion.
Above are the easiest ways to convert your cryptocurrency to cash but that doesn’t mean these are the only way you can convert your crypto.
Also, you can use digital fiat currency like USDT (Tether) by using this digital fiat money you can avoid tax liabilities for some time.
These digital fiat currencies are helpful when your massive trader in the
If your intention to hold crypto for a long time then, do not worry about any digital fiat currencies.
Best Way To Change Bitcoin To Cash App
With digital fiat money, you can convert your crypto to digital fiat money (like USDT), very easily with low transaction fees also you can store them in your crypto wallet.
When you need crypto to trade then, you can able to convert your digital fiat holding to crypto easily.
Also, digital fiat money reduces your headache of always transferring in fiat currencies to exchanges to buy cryptocurrencies because digital fiat money can be used to buy cryptos later if you want.
Note digital fiat money price does not fluctuate like cryptocurrencies, for example, USDT always maintaining its value of $1.
And another easy way to convert crypto to cash is by selling your crypto to any Friends or Family member.
But make sure that the person is trustworthy to trade because crypto transactions are not reversible.
If you have any suggestions or any points to add then feel free to mention those in comments.
If you found this article informative, please share it with your friends and family who want to know about converting cryptocurrencies into cash.
How To Change Bitcoin To Cash In Canada
Even though Bitcoin transactions aren’t nearly as anonymous as everyone hoped, there are still several ways how you can convert your Bitcoin funds to USD cash while keeping your identity hidden to a considerable extent.
Are you looking to cash out your Bitcoin?
LocalBitcoins is the best way to exchange Bitcoin to cash. You can make the exchange anonymously with private and experienced sellers. And in some areas, it might be the only way to exchange Bitcoin where exchanges are not available. Get started here.
Trade Locally Using LocalBitcoins
LocalBitcoins is a Finland-based service that facilitates the over-the-counter trading of local currency in exchange for Bitcoins. The service allows you to trade Bitcoins in 15,650 cities and 248 countries around the world, and all that’s required from you to use it is a simple account registration and verification, which can be completed in just a few minutes.
LocalBitcoins displays advertisements from users, who state exchange rates and payment methods for buying or selling Bitcoins. Other users may reply to these advertisements and negotiate the terms of trade. LocalBitcoins acts as an intermediary, providing an escrow and conflict-resolution service, in addition to the platform itself.
Most local trades using LocalBitcoins happen in larger cities. Two LocalBitcoin users agree on a meeting place and a time for the trade to occur and typically use a smartphone Bitcoin wallet to perform the transaction itself. LocalBitcoins has its Android app, which is a must-have for any local trading.
Withdraw Cash from Bitcoin ATM Near You
There is a growing number of Bitcoin ATMs, which are Internet-connected machines that allow people to exchange Bitcoins for cash, and vice versa. Bitcoin ATMs can be typically found in high-traffic areas, such as shopping malls or train stations.
The Bitcoin ATM Map app from CoinATMRadar allows you to find all Bitcoin ATMs near you quickly. It even lists all the cryptocurrencies each ATM supports as well as its address, fees, limits, and sometimes even pictures and other useful information.
Just keep in mind that Bitcoin ATMs usually charge very high transaction fees. It’s not unheard of to pay more than $50 in fees alone for a single transaction performed using a Bitcoin ATM.
How To Change Bitcoin To Cash On Binance
Spend It or Buy Gift Cards
Thousands of retailers and services around the world accept Bitcoins, including such giants as Amazon and Overstock.com. If you’re willing to jump through a few hoops, you could purchase some high-demand items, for example, the Samsung Galaxy S8 Edge or the iPhone 8 Plus, with your Bitcoins and then sell the item on eBay for cash.
Best Way To Change Bitcoin To Cash
Read our previous article for more recommendations of Bitcoin-friendly stores, including Gyft, which provides a great way how to buy gift cards online for retailers like Amazon, Starbucks, and iTunes with Bitcoins.
Best way: Coinbase/GDAX
Coinbase is a very popular digital currency exchange headquartered in San Francisco. Coinbase users can trade Bitcoin, Bitcoin Cash, Ethereum, and Litecoin with fiat currencies in 32 countries. Because Coinbase complies with the Bank Secrecy Act, which prevents money laundering, it requires its users to go through a simple verification process.
As such, Coinbase isn’t anonymous, but it is reliable and trustworthy. What’s more, the exchange offers a fantastic app for Android and iOS, which has even become onf of the most downloaded app in the Apple App Store.
Are you looking to cash out your Bitcoin?
LocalBitcoins is the best way to exchange Bitcoin to cash. You can make the exchange anonymously with private and experienced sellers. And in some areas, it might be the only way to exchange Bitcoin where exchanges are not available. Get started here.