Mar 27, · There are several ways to convert bitcoin to cash and ultimately move it to a bank account: Sell bitcoin on a cryptocurrency exchange, such as Coinbase or Kraken. This is the easiest method if you want to sell bitcoin and withdraw the resulting cash directly to a bank account. Jul 29, · Convert Bitcoin Into Cash Through A Fiat Supporting Exchange It is highly likely that if you don’t have Bitcoin ATMs near you, you will be having fiat accepting Bitcoin exchanges in your country. Using these exchanges, you can easily convert your bitcoins into cash like USD, EUR, or GBP. Jan 13, · Bitcoin ATMs are available in most major cities around the world and provide a relatively fast way to convert Bitcoin and other cryptocurrencies into government-issued currency. Many Bitcoin ATMs let you buy Bitcoin in much the same way that you deposit money at a regular ATM.
How to convert bitcoins into real moneyThe Best Ways to Convert Bitcoin to Cash
If you think the price of bitcoin is going to keep sinking and you want to protect yourself from losses, it makes sense to convert bitcoin to cash while you wait for the bitcoin price to recover. A peer-to-peer platform like LocalBitcoins serves more than 1.
LocalBitcoins is free to use unless you create an advertisement for selling your bitcoins, then there is a small percentage fee charged. Before you convert all of your BTC to a bank account, keep in mind the following pitfalls associated with converting bitcoin to cash:.
At 12 years of age, Bitcoin still dominates the cryptocurrency world. Learn what Bitcoin is and how it has become a focal point for high-risk investors. Bitcoin platforms are growing in numbers.
Learn how to set up a bitcoin checking account to gain the advantages of purchasing and trading bitcoin. Looking for a bitcoin-friendly bank? This article will answer those questions. Advertiser Disclosure. Banks Editorial Team March 27, Bitcoin ATMs are available in most major cities around the world and provide a relatively fast way to convert Bitcoin and other cryptocurrencies into government-issued currency.
Most now support additional cryptocoins such as Litecoin and Ethereum as well. However, fees on these transactions are higher than you'd pay through an online service, and the conversion rates generally aren't as favorable. Several popular online services not only allow people to easily purchase Bitcoin and other cryptocurrencies through their websites and smartphone apps but also sell the cryptocoins they have for government-issued currency.
The most popular service is Coinbase and a good alternative is CoinJar. Each service can connect to bank accounts to pay for cryptocoin purchases. This connectivity also enables the selling of cryptocurrencies, which can be converted and transferred to a bank account within a few days. Many people use Coinbase and CoinJar to buy Bitcoin and other coins and cash out their profits through a bank transfer as their cryptocoins gain in value. Others use their accounts to receive cryptocurrency payments from friends, family members, or customers.
Cryptocurrency debit cards are a practical and affordable way to spend Bitcoin and other cryptocoins at almost any retailer. These cards allow their users to deposit their cryptocoins through an online website that converts them into a fiat currency such as the U. Each card is powered by either VISA or Mastercard, which means that they work for both online and offline shopping at most businesses.
Availability can vary by geographical region, as can the daily and monthly usage limits, so compare each card to find the right one for you. Because many people view cryptocoins as an investment strategy rather than as a daily-use currency, conversions to and from Bitcoin influence the value of a portfolio. Frequent conversions to address volatility in the cryptocoin market may cost a great deal in fees and unfavorable rates.
Keep your cryptocurrency stored in a wallet or online service and only convert to money that which you'll need to spend over one of your budget cycles.