The world we are living in has changed a lot in the past few decades. Many kinds of businesses have developed due to advancing technology. Investing or trading with crypto is one of them. Investing in cryptocurrency in the modern world is the best business anyone could think of.
How to go about the business is what matters. Unfortunately, many people start investing in crypto but do not know how to go about it. When is the right time to convert crypto to cash? What are the top interesting ways to change cryptocurrency to money? If you are still unaware of the above, this article has you covered.
How to convert Crypto to Cash quickly?
The trend of creating crypto assets is on rise. One of the good reason behind it is its high liquidity. They are easy to sell or purchase at a price almost similar to the market rate. Another reason is the advanced safe and secure automated trading technology used by the trading platforms. It has enabled investors with different types of tactics and tools. There are manual ways of trading as well as algorithm-based trading and limit-orders. The choice of finding the cheapest way to convert crypto to cash lies with the investor.
If you have plans to convert crypto asstes to cash, as in, physical bank notes, but not a bank transaction, then there are several sites like LocalBitcoins, etc listed below. Technicaly speaking, there are two main avenues to convert bitcoin to cash and ultimately move it to a bank account. Firstly, you can use a third party exchange broker including bitcoin ATMs and debit cards. They will exchange bitcoins for cash at a given rate.Another safe and simpler one is a peer-to-peer transaction.
On the other hand if you are in need of “fiat currency” only and not cash specifically, there are a million exchanges where you can do this.
LocalBitcoins platform, which was founded in 2012, is a peer-to-peer exchange that is mostly used in trading among prospective buyers and sellers. Currently, it is being used in about 100 countries around the globe. This means that it is available in almost every country for those wondering how to exchange cryptocurrency for cash.
The best thing about LocalBitcoins is that the traders do not need intermediaries to change cryptocurrency to money. The buyers and sellers directly make the exchange. Are you still unsure of how to convert cryptocurrency into cash? LocalBitcoins is there for you.
How to convert crypto to cash via Coinbase?
Coinbase is a type of crypto exchange that is very popular around the world. This online exchange helps the user to easily change cryptocurrency to money very fast. How to cash cryptocurrency through Coinbase is easy. What you need to do is to sign up with Coinbase, complete the verification, deposit your crypto, and lastly, cash out. That sounds good, right?
Face to Face
You can plan to sell your crypto to individuals by meeting physically. But how do you exchange cryptocurrency for cash using this method? It is very simple. Crypto markets are public places where traders meet to exchange crypto for cash and vice versa. This might be the best way to change cryptocurrency to money because you can charge any premium you want.
Moreover, when you have changed the crypto to cash, the buyer cannot ask for a chargeback.
This platform takes pride as the best exchange platform for crypto investors in Turkey and across the borders. NakitCoins helps to change cryptocurrency to money, do coin swaps, and much more. The fact that it is a secure platform shows that you can trust them with your digital coins. If you cannot access their physical exchange outlets in Turkey, you can check their website for convenient services.
On top of other interesting ways to change cryptocurrency to money, you will find Coinmama appealing especially when you are dealing with Bitcoin. It is a safe and fast method that is used in almost all countries around the world.
Coinmama only requires the user to have a crypto wallet, which you will use to get your crypto when changing cryptocurrency to cash.
This cryptocurrency exchange has all the tools the trader requires. Even beginners can give it a try. You can change your crypto to cash through Gemini as it is fast, easy to use, and available in many countries. Yours could be one of them.
How to withdraw Bitcoin to cash in India?
There are 2 different methods to encash bitcoin in India. One is through a Crypto exchange or a broker. The other one is using the global peer-to-peer network like LocalBitcoins.
Let us understand how the crypto exchange method works in India. All you need to do is deposit crypto assets into a valid exchange such as WazirX, CoinDCX, CoinSwitch Kuber, Unocoin. Raise a withdrawal request and choose the currency of liquid money, somewhat similar to currency exchange system at airports. It gets transferred into the configured bank account. The method is applicable for any type of crypto.
Let us understand step by step metod in India context which is safe and legal. Keep in mind that the time period from initiaing the transfer to realising cash takes around 4-6 days. Here I have listed the most common Bitcoin exchange WazirX. Keep in mind that all crypto exchanges have a fee structure for the transactions being carried out. The fee varies from broker to broker. One is advised to read the terms before starting with the process.
How to convert Bitcoin to cash in India?
Step 1: Login to WazirX app
Head straight to the ‘Funds’ option
It is assumed that you have a valid WazirX account.
Click on the INR option on the screen
The results fetch account transactions, deposits, and withdrawals pertaining to yoru login
Go to the bottom of the screen
Locate the options, ‘Deposit’ and ‘Withdrawal’.
Click on the ‘Withdrawal’ option
On the screen, enter the amount of you crypto coins need to withdraw. Once finalized, click on Submit
Authorise the Withdrawal
On your verified email address, you will receive an email to authorize WazirX to proceed with cash conversion. Once completed with evrification, the funds will be reflected in your bank account after 4-6 days. The final amount transferred will deduct the charges of exchange.
Conclusion – How to withdraw Bitcoins to cash?
The above are listed few of popular and cheapest way to convert crypto to cash. However, at the end of the day, it all comes down to where you are geographically stationed. Here is summing up how to withdraw bitcoins to cash!
- Identify crypto exchange that is legal in your country of residence
- If you opt for a Bitcoin ATM, ensure that you have read and agree about the fees structure. Complete KYC process. Send crypto to the corresponding address and encash
- If your region supports crypto wallet alternative that can withdraw crypto to your credit card, then it is the easiest solution to turn cryptocurrency to real money
- Crypto cash can be spent with new crypto visa cards coming out. To name a few Monaco, Wirex, etc
- Peer to peer exchange – Sites like Localbitcoins/Paxful allow to find one hodler who is ready to sell and another one has an offer to buy. In some regions charges may be high but are a safre bet.
- When large amounts are involved, opt for safe site like Kraken to deposit to your confirmed bank account. The drawback is that it is pretty slow but it is safe!
Hopefully, your questions about how to exchange cryptocurrency for cash have been answered. LocalBitcoins, the face-to-face method, Coinbase, Coinmama, and Gemini are the best you can use to cash your crypto assets conveniently to bank accounts.