Convert Bitcoin Via Cryptocurrency Exchange
The easiest way to cash out Bitcoin is through an online cryptocurrency exchange.
These third-party exchanges allow you to easily sell your Bitcoin for USD, EUR, GBP, MYR and other local fiat currency via their websites or user-friendly apps.
To start, youll need to find an exchange that supports your country.
Heres how it works:
- Sign up and complete the verification process.
- Deposit BTC into your account
- Cash out your BTC to fiat via bank transfer or Paypal
Its simple, easy and secure.
But its not the fastest way, as it can take 1-5 days to receive your fiat money depends on the platform youre using and your country.
Also, for cryptocurrency newcomers who dont already have an account with the crypto exchange, it can take weeks, if not months to get your account approved.
At the moment, some restricted countries dont have cryptocurrency exchanges.
Lets look at Localbitcoins as an example:
Use A Crypto Exchange
As explained earlier in this article, you can also use a crypto exchange to cash out crypto from Metamask. Moreover, this is the most popular and common option and will suit you perfectly if you are a starter in this new crypto environment.
One of the big cons of using a crypto exchange instead of another platform is that you can be the owner of cash in 24 / 48 hours on your bank account. Also, when using a cryptocurrency exchange like Binance or Coinbase you can be sure that they can deliver as promised because of the high liquidity available in their order books.
All in all, centralized exchanges offer beginner investors a familiar, friendly way of trading and investing in cryptocurrencies. As opposed to using crypto wallets and peer-to-peer transactions, which can be complex, users of centralized exchanges can log into their accounts. In addition, view their account balances. In other words, the interface for web and mobile apps is excellent and will suit you best when using it.
How To Convert Cryptocurrency To Cash In 2021
In this article, I will show you the easiest way to convert cryptocurrency to cash in 2021. I will also give you a step-by-step guide exactly on how to exchange your crypto for cash, so keep reading. The way to do it is through the trading platform Coinbase.
The steps you need to take to be able to sell cryptocurrency on Coinbase are the following:
Coinbase is a fully regulated and licensed cryptocurrency exchange from the USA and its also one of the most trusted exchanges when it comes to money transactions and storing coins.
The only thing you need to do is to connect your bank account with a first deposit and then you can convert cryptocurrency to USD or any other fiat currency. It takes a little bit of time to transfer the coins to Coinbase and then get connect to your bank account but its definitely the easiest and safest platform to do it.
To sell cryptocurrency for cash on Coinbase takes about 2-5 workdays before you will see your money in your account. You can also read our guides on fiat to crypto exchanges for more information on how to use the fiat gateways that the exchanges offer.
Don’t Miss: What Is Ibm Blockchain Technology
Store Your Crypto Before Converting It
If you want to convert cryptocurrency to cash, you will have to create a wallet first to receive your crypto. It is generally necessary to own one single wallet per cryptocurrency but some user-friendly wallets like Exodus.io allow you to manage various assets through one single interface.
It is important to understand that the Bitcoin or Ethereum blockchains are networks, like the internet is itself. The wallets we are going to cover below are clients allowing access to these networks. As one of the consequence of this, you may access a blockchain through different points, some are more secure or user-friendly than others:
- Hot wallets
- Software wallets
- Cold wallets
The rule number one, no matter the wallet you have decided to use, is to NEVER share your private keys with anyone. They are the equivalent of the PIN number of your debit card. Anyone knowing your private keys have access to your funds without your consent.
Bet with Bitcoin, Ethereum, Ripple and Litecoin on your favourite esports at Luckbox.
Option : Use Bitcoin Atms
Although an online crypto exchange is a secure and convenient option for many users, sometimes you dont want to go through the process of signing up, verifying your identity, and then waiting for the withdrawal to clear.
If youre faced with an emergency, you can visit a Bitcoin ATM and take out a small amount. Most of these machines have withdrawal and deposit limits of $1,000 to $10,000, so you wont be able to convert every bit of bitcoin you own. Plus, who wants to carry around large stacks of cash?
Find a Bitcoin ATM near you
As of this writing, there are roughly 18,000 crypto ATMs across approximately 70 countries, according to Coin ATM Radar. For instance, about 15,000 exist in the United States, 1,300 in Canada, and 200 in the United Kingdom.
About 40% of all installed Bitcoin ATMs support selling. Find one near you using the interactive map from the Coin ATM Radar homepage:
- Select your cryptocurrencies, such as Bitcoin or Bitcoin cash .
- Select whether you want to buy or sell.
- Scroll along the map to find your area. For instance, about 89 ATMs sell Bitcoin in the New Jersey/New York area.
- Zoom in on the map to find one closest to your location.
Verify your identity
In general, the operator of the crypto ATM will require that you verify your identity. The procedure varies by type of machine, though.
Select your options
Enter the amount you want to withdraw
Take your cash minus a fee
Don’t Miss: Can You Get Free Bitcoin
How Can You Move Btc To A Bank Account
There areseveral ways to convert bitcoin to cash and ultimately move it to a bankaccount:
A sample transaction would go something like this:
Pause Or Turn Off Norton Crypto
Open your Norton device security product.
In the My Norton window, under Turn your PC’s idle time to cash, click Show me how.
In the Norton Crypto dashboard, click the pause icon.
Select a duration from the list that appears.
Tip: You can also access your Wallet by signing in to your account using the following URL:
For frequently asked questions on Norton Crypto, see FAQ: Norton Crypto.
Read Also: How To Delete Bitcoin Account
Do I Like The Novelty Of Owning Bitcoin
As an asset class, Bitcoin is a new kid on the block. Each time a speculative bubble occurs, funding drives the evolution of this technology and financial infrastructure. If youre comfortable with risk and got in on the ground floor or during one of Bitcoins previous ebbs in the market you might appreciate watching this cryptocurrency evolve, knowing that youre part of its community.
How Do I Cash Out My Funds
In order to cash out your funds, you first need to sell your cryptocurrency for cash. Then you can either transfer your funds to your bank or buy more crypto. Note that there is no limit on the amount of crypto you can sell for cash.
1. Sell cryptocurrency for cash
Once the action is complete, your cash will be available in your local currency wallet . Note that you can immediately cash out your funds by tapping Withdraw funds in the Coinbase mobile app or Cash out funds from a web browser.
2. Cash out your funds
From a web browser:
From a web browser select your cash balance under Assets.
On the Cash out tab, enter the amount you want to cash out and then click Continue.
Choose your cash out destination and then click Continue.
Click Cash out now to complete your transfer.
From the Coinbase mobile app:
Tap > Cash out
Enter the amount you want to cash out and choose your transfer destination, then tap Preview cash out.
Tap Cash out now to complete this action.
When cashing out a sell from your cash balance to your bank account, a short holding period will be placed before you can cash out the funds from the sell. Despite the hold period, you are still able to sell an unlimited amount of your crypto at the market price you desire.
Read Also: What Is Going To Happen With Cryptocurrency
How Is Bitcoin Converted To Cash
Its only when bitcoin value has increased, that is when profit comes in, and that is when most investors deem fit to withdraw their profit yields.
To realize the profits, you will need how to sell Bitcoins for USD, or convert it to any fiat currency acceptable in the region youre situated.
Now, the questions that come to mind when someone is about to sell bitcoins for cash are as follows:
- How to convert Bitcoin to Euro , Pound , Dollars or Naira?
- What is the fastest way to cash out Bitcoin?
- How can Bitcoin be converted into cash?
- How do you convert Bitcoin to cash?
- How do you trade Bitcoins for cash?
- Can Bitcoin be turned into cash?
- Can i turn my Bitcoins into cash?
- Can you turn Bitcoins into cash?
Well, there are easy ways you can convert Bitcoins to Dollars, Euro, Pounds, Rupee, or Naira and as you read further, am going to discuss some of the best way to withdraw Bitcoin.
Platforms That Offer Debit Cards
Debit cards are a fast and convenient way to convert bitcoin into real money, you just have to recharge the debit card with bitcoin or another cryptocurrency that they accept and it will automatically convert the balance to fiduciary money to make a payment at any place that allows payments with debit card.
The most known platforms that offer these services are: Wirex, Shift Card or Bitpay.
Don’t Miss: What Is The Latest Cryptocurrency
How To Turn Cryptocurrency Into Cash: Bitcoin Exchange
How to turn cryptocurrency into cash? There are numerous platforms on the Internet for exchanging cryptocurrency. But no matter which platform the Bitcoin owner chooses, the exchange process always follows the same principle.
- An account is created and verified on the respective platform, after which you can create your own wallet.
- The virtual wallet accepts the bitcoins that are being transferred and stores them. Thats why you need your own wallet address and the number of bitcoins to be transferred.
- If bitcoins are earmarked on the wallet, they can be sold on the desired platform. A seller receives a currency of his/her choice for this.
- Various options are available for withdrawals on the platforms. Payments to a PayPal account and SEPA transfers to the bank account are offered quite often.
- The transfer process usually has to be confirmed on the blockchain, which means that the transfer of BTC usually takes a certain amount of time.
- On top of that, there are the working days until the transfer is credited to an account.
Why Is Metamask So Good
One of the most important features of Metamask is that it acts as a browser on the Ethereum blockchain. Moreover, you can browse or interact fully on the Ethereum chain without the need to download the entire blockchain.
As a result, Metamask is more than just a wallet and thatâs why many crypto users find it a good option to use when interacting with all the different dAPPs available.
Recommended Reading: Can You Trade Crypto In Robinhood
The Fastest Way To Turn Crypto Into Cash
Do you want to know the fastest way to turn your crypto into cash? We are sure that you want to know that. This is something that every crypto investor wants to know. Today, we are going to talk about the best and easiest way to turn your crypto into cash. If it is the topic of your interest then continue reading. We understand that before investing in crypto you want to clear this doubt of yours. That is why here we are with amazing guidance for you. So, without wasting your precious time. Lets directly jump into the topic.
How does cryptocurrency work
Before knowing about the ways it is important to first understand how cryptocurrency work. One of the most essential things you need to know about crypto is that it is managed by Blockchain Technology. Cryptocurrency is not in the control of any central authorities since it is decentralized. Cryptocurrencies are not affected by any kind of government decision which is not the case with traditional currency.
It is the peer-to-peer network that works for the safety and security of crypto. There is no doubt that thousands of cryptocurrencies are there in the crypto market. Some popular and trusted cryptos are Bitcoin, Ripple, Ethereum, Dogecoin, and Daikicoin. These crypto coins are more popular among people around the world because of their reputation and transparency. Thus, investing in these cryptos can bring lots of success your way.
How to turn crypto into cash
What Should You Take Into Account When Exchanging Bitcoins
- The rate. The exchange of bitcoins for dollars is subject to strong fluctuations. Its advisable to wait a little while for a stable rate to develop.
- After the initial registration, it usually takes a few days for a customers identity to be verified on the respective platform.
- Each provider sets individual fees, so the conditions should always be checked beforehand.
How do you turn cryptocurrency into cash? Feel free to share your ways in the comments!
Read Also: Is Free Bitcoin Miner App Legit
How To Convert Ripple To Usd
Ripple is a payment network and virtual currency which enable the processing of cross-border transactions in a faster and cheaper manner. The company has established hundreds of partnerships and collaborations with banks and merchants, its list of members constantly expanding.
At the time of writing, XRP ranks 2nd, having a market cap of $12,281,091,139 USD, and a current trading price of $0.298308 USD.
Below, we will look at the best ways to convert Ripple to USD.
Convert Cryptocurrency To Cash
Now you should have the amount you sent to the exchange appearing in your exchange cryptocurrency account balance. Most exchanges will send you an email deposit confirmation too.
While it could merely be seen as a conversion from cryptocurrency to cash, you are now about to sell your cryptocurrency and buy cash with it as you would do at the airport cash changing desk.
If you want to convert Bitcoin to USD, you will have to find the BTC/USD market in your exchange website. If you want to convert Ethereum to EUR, you will have to find the ETH/EUR market. Same goes with LTC, BCH, ETC, DASH, XMR against GBP, HKD, CAD, AUD, JPY etc. Find the market that suits your need.
Once you are on the market page, as you do not want to trade and want to convert your cryptocurrency right away, you will sell it at market price or market sell it. To sell the quickest possible, select the price that is situated at the top of the Bid column .
Bids are referring to what buyers of the cryptocurrency you are selling are ready to pay to buy it. It is usually lower than the Ask column which represents what sellers are asking to get rid of it.
If you selected a bid price for the right amount of cryptocurrency you are selling , your sell order should take seconds to complete.
Once this is done, a balance in the local currency you sold your cryptocurrency for will appear. You have just converted cryptocurrency into cash.
You May Like: How To Buy Crypto With Amex
How To Cash Out Bitcoin Using A Broker Exchange
Using a broker exchange for your Bitcoin is also quite simple if you follow these easy steps:
- Sign up and complete the brokerages verification process.
- Deposit bitcoin into your account.
- Cash-out your bitcoin by depositing it into your bank account or PayPal account .
Keep in mind the withdrawal times may be 4-6 days. Transaction fees may also apply.