How Can I Sell Bitcoin For Cash?
The cryptocurrency market is booming, and more people are curious about it. If you are new to the cryptocurrency world, we invite you to take a look at this article explaining how to convert bitcoin (or other cryptocurrencies) into euros. You can also check out our more general pages on the subject.
There are several mechanisms to convert cryptocurrencies into euros and dollars for easy use in everyday life. Although the operation may seem tedious, it is very simple and quite quick to perform.
Sell Bitcoin for cash.
So, you consider converting your Bitcoins to Dollars and want to know everything about converting Dollar/Bitcoin? There are several ways you can choose to do it and follow a few steps.
Choose the right service to sell Bitcoin
The first step is to choose the conversion service. We’ll talk below: credit card, binance, etc. To make the right choice, you must compare rates and choose the best offer. It will be advantageous to convert your cryptocurrencies with an affordable service.
You should also make sure that the service is reliable. To make sure, there are many sites on the web that validate the reliability of these conversion platforms. And for convenience, choose a fast service to convert your Bitcoins into dollars. Indeed, some services can go up to a week for the transfer, while others do it in only 48 to 72 hours.
Sign up and send cryptocurrencies
Of course, if you already have an account or a bank card, you will just have to make the transfer, and the conversion is done automatically according to the rate. Otherwise, you need to register on a conversion site. To register, you need to bring all your personal information. Hence the importance of choosing the right site before you start.
Another very important point, when registering on an e-marketplace, make sure you choose the strongest security options. For this, you can select a two-factor authentication. It is also possible to go for the multi-signature option. So the important thing is to make sure that your account is perfectly safe. Especially since in the digital realm, hacking is evolving considerably, and you risk losing money.
Can bitcoin be converted to cash?
Many people do not know how to withdraw funds from electronic currencies into dollars. They don’t know that there are several ways in which they can be converted into euros for use in their working lives. Here is a comprehensive guide to help you learn more about how to cash in your dollar earnings after investing in Bitcoin.
How to convert Bitcoin to cash
Currently, few businesses accept transactions via cryptocurrencies. That’s why you are forced to convert them to cash to make purchases and other types of transactions. You also have to exchange them for the dollar when you realize that the market is down. In fact, if the cost of your Bitcoin is falling, it is better to convert it into dollars to limit the losses. And for good conversion, you need the best payment solutions.
The easiest way to convert Bitcoins into dollars is to use a bank card dedicated to it. There are more and more cards with which you can buy with these currencies in online stores and make withdrawals. Here are some of the best debit cards of this kind:
More than just a bank card, this solution is simply a neobank. It has a platform accessible on PC and from mobile and allows you to buy bitcoins. It allows you to store cryptocurrencies on its platform associated with several e-wallets.
However, it is accepted in over 200 countries as a bank card and allows you to withdraw money in several currencies, including the euro and the US dollar. In addition, Wirex is one of the solutions that offer a cashback system. Every time you make a purchase via the card, you receive 0.5% cash in bitcoin. This may seem less interesting, but it can become significant over the course of transactions.
How to withdraw bitcoins to cash
There are countless ways in which you can turn your cryptocurrencies into dollars and transfer them to a bank account. To do this, you need the help of a cryptocurrency exchange platform like Coinbase and Binance.
This platform was released in 2017 and allowed you to trade over a hundred cryptocurrencies. It is managed from Hong Kong and is compatible with mobile devices. It allows you to buy, store, resell and convert cryptocurrencies. While deposits are free, you have to pay for withdrawals and other types of transactions on the site.
To make a withdrawal to your bank account from Binance, you must first convert your cryptocurrencies to dollars. Currently, only Binance Coin (BNB), Ethereum (ETH), Ripple (XRP), and Bitcoin (BTC) are convertible to dollars on Binance. Check your Binance portfolio and click on “Withdraw” in the “Cash Balances” section as soon as the conversion is done.
Then select your currency and payment method. Of course, you must choose “Bank Transfer.” You must enter the withdrawal amount. Here you can withdraw between 20€ and 500€. Finally, enter your IBAN and confirm the withdrawal information. After a few hours to two days, you should receive the funds in your bank account.
If you want to sell cryptocurrencies and withdraw the funds directly from your bank account, there is no better method than Coinbase. This cryptocurrency exchange platform ensures fast transactions with complete peace of mind. It’s easy to use and allows withdrawals in dollars, but it does involve significant conversion fees.
You can store your Litecoin, Bitcoin Cash, Ethereum classic, and even Bitcoin. You need to go to “Settings” for your withdrawals once you are logged into your Coinbase account. Then click on “Associated Accounts” and add a new account. You need to provide information such as the bank name, your IBAN, and BIC and validate this solution.
The next step is to click on “Account” and then go to “Withdrawal” in the Dollar Wallet category. Choose your destination account, define the withdrawal amount, and confirm the operation. With the cost of BTC currently dropping from record highs, you’d better withdraw your cryptocurrencies on Coinbase to limit your losses.
Bitcoin cash exchange
Use cryptocurrency ATMs. There are now more than 5,000 bitcoin ATMs around the world. They work just like traditional bank ATMs and can allow you to exchange your BTC for money in dollars. They give you the opportunity to do all this in complete anonymity, especially since they do not subject you to any identity verification. You can buy bitcoin to join a players’ syndicate through these ATMs later to enjoy no deposit bonus casino games.
Cash out your Bitcoins
As you have seen throughout this article, selling bitcoins is not very complicated. We’ve purposely spared you the overly technical terms to make it easier to understand the few steps involved.
And to top it off, we have shown you how to proceed with each of the best choices, from ATMs to bank cards to cryptocurrency exchanges, namely Binance and Coinbase. If you have any doubts or problems when it comes to selling bitcoins, don’t hesitate to do your research and educate yourself well before you take any steps.