Ways To Convert Bitcoin To Cash and Convert Bitcoin To Cash
Convert bitcoin to cash or convert bitcoin to dollar currency… Most of those interested in cryptocurrency are aware of the difficulty of converting cryptocurrencies into fiat currencies. It is true that cryptocurrencies are expanding in an amazing and unparalleled way, and day by day, it seems that a governmental or non-governmental entity is announcing its adoption of cryptocurrencies, the latest being Facebook, which announced a private development of a cryptocurrency. It’s called Libra.
However, the exchange or dealing with cryptocurrencies is still limited to specific geographical destinations, as a result of the hostile approach that some governments take towards cryptocurrencies and see them as a threat that should be closed and not allowed to be used permanently.
Contents
1 Convert bitcoin to cash
2 Bitstamp platform
3 CEX platform
4 LocalBitcoins platform
5 by converting bitcoins to Tether (USTD)
6 Transfer by selling bitcoins to friends and acquaintances
7 through Virowx, payoneer and paypal
8 Through CEX IO website and payoneer or any other bank
9 Bitcoin to Cash conversion machines
10 Summary of Converting Bitcoin to Fiat Currency
Convert bitcoin to cash
Trading platforms are one of the unique solutions by providing a mechanism for converting Bitcoin and other cryptocurrencies into cash, but they are very few.
According to a recently published report, 84% of these exchanges do not offer direct cryptocurrency exchanges for fiat currencies, while only 16% of them offer cryptocurrency exchanges for fiat currencies.
Of this small percentage of 16%, only a few serve large geographic areas, and many are confined to one region.
We will show you some platforms and methods that convert bitcoin into cash.
Bitstamp platform
This trading platform provides the ability to withdraw cryptocurrencies by converting them directly into cash (converting bitcoin into currency). What distinguishes the Bitstamp platform is that it provides the ability to withdraw large amounts of money.
But their fees seem to be high, especially when withdrawing small amounts, as they charge 10% of each withdrawal. The currencies supported by the platform for withdrawals are: Dollars, Euros, British Pounds, Canadian Dollars, and Japanese Yen, for your information and in order to withdraw your funds from the Bitstamp platform, you must go through the customer verification stage that it imposes to verify personal data.
CEX platform
It is very similar to the platforms mentioned above and offers the ability to convert cryptocurrencies into fiat currencies. The platform supports the ability to withdraw cryptocurrencies in fiat currencies using credit cards.
LocalBitcoins platform
This decentralized platform, which is based on the P2P protocol in its work, provides offers and requests for buying and selling cryptocurrencies in most regions of the world and supports even regions whose governments oppose the exploitation of cryptocurrencies. This platform provides various payment solutions for cryptocurrencies such as: Payoneer Paysera, PayPal, Cash and global payment methods other different.
By converting bitcoins to Tether (USTD)
If you are not in a hurry to convert bitcoins into cash in a short period, or want to avoid tax liabilities imposed by the country, you can use this method and convert bitcoin to tether peg (USTD), as we find this method is better than transfer into dollars directly, in case you are thinking of buying more bitcoins later, as transferring money to and from banks causes a lot of tax legal problems, This method also helps to avoid fluctuations in currency prices, as it links the exchange rate to dollar prices, meaning that each one of (USTD) is equivalent to one US dollar, and this method also helps to reduce fatigue and effort when transferring cash to an exchange to buy bitcoins, as it The availability of (USTD) helps to buy bitcoins easily, and it is supported by global exchanges and exchanges.
Transfer by selling bitcoins to friends and acquaintances
You can sell your bitcoins to your acquaintances and friends for cash, if you just want to make money, this step helps you get money, and in return you help others get bitcoins to start their way in the future of bitcoin.
Through Virowx, payoneer and paypal
This is done by transferring the bitcoin to PayPal, and then transferring it to Payoneer to get the money in cash through Payoneer bank card.
Through CEX IO website and payoneer or any other bank
This method requires that the person have a US bank account, or the account can be unbanked. But it must be a global account in order to accept funds from anywhere in the world. And after the money on the site is converted into dollars, they are directed to the site’s wallet, we choose to transfer money. We transfer the funds to the bank account, from which withdrawals are made through any available port.
Bitcoin to cash conversion machines
Converting bitcoin to cash is one of the unique solutions for many bitcoin users, but unfortunately it is available in some
geographic regions without any other regions.
ATMs provide practical and fast solutions for converting cryptocurrencies into cash. A credit card and storage wallet number are sufficient for the machine to process the transfer smoothly.
It facilitates the process of selling bitcoins, and this is the case if you have a group of acquaintances or friends who are in the process of exchanging currencies through it, which is to send bitcoins to their own account, and they transfer money in cash, and help others collect different bitcoins to start their journey with Bitcoin , which is considered an easy currency to deal with.
Also, if there are brokers, it is easy to exchange currencies through them, and it is also possible to deal with well-known exchange exchanges. Currency can be obtained, and also through the stock exchange, in dollars, and this saves you the fatigue and effort that you are exposed to.
ATM machines provide convenient and fast solutions in converting cryptocurrencies into fiat currencies. It suffices a credit card and storage wallet number for the machine to process the transfer easily.
Summary of converting bitcoin to fiat currency
These are some of the popular ways to convert Bitcoin into cash
*. Another way to convert your bitcoins into dollars is to sell bitcoins to your friends and family.
*. If the reason is to make some profits and not because you don’t feel confident about the future of Bitcoin.
*. Selling bitcoins directly to your friends and family is the perfect choice.
*. This will also help them start using Bitcoin and will save you (the middleman) transaction fees, but only a few take this path.
*. We also previously recommended that you do not disclose your bitcoin and cryptocurrency investments to anyone.
*. It is possible to buy and sell bitcoins through an ATM easily and receive bitcoins in dollars. Or in your local currency, but remember that this only applies to Bitcoin ATMs, which are increasing in number around the world. It may not be available in your country at this time.
These were some of the practical and effective solutions in the process of converting Bitcoin and cryptocurrencies into cash.
At the end of our topic about ways to convert bitcoin to cash. We hope we have helped you with the information we have given you on this topic.