Turning Bitcoin into isn’t hard anyways.
Let me guess… It’s time for you to convert and cash out your bitcoin into traditional cash bills like; Pound, Dollar or Naira, right?
Do you want to know how to turn your Bitcoins into cash?
Are you looking for the best place to sell Bitcoin for real money?
Oh i get it… you want to start trading bitcoins for cash, right?
Don’t do anything about converting your Bitcoin to cash yet. At least, not until you must’ve read this whole tutorial to understand how to get cash from your BTC instantly.
Prolly, you have intention of making money online by selling Bitcoins for USD, but you need to know how Bitcoin converts to real money that can be withdrawn.
This is why you’ve started searching for how to cash out of cryptocurrency into cash.
Well, it will be very good to count yourself as being one of the luckiest investors by landing on my blog this time around today.
I am going to show you many ways on how to get cash for Bitcoins investment, and actually change that digital currency into real cash, or fiat money in the bank account.
In the world today, everybody is caught up one way, or the other in this cryptocurrency investment and trading thing. And the most asked questions are;
- Have you invested in bitcoin?
- How do you make money online with bitcoin?
- How do you cash out your bitcoin investment proceeds?
Anyways, there’s no way it will not become a trend, since it’s far better than Gold, or the traditional fiat currency, and that’s not to mention it’s limited supply.
If you would like to know more about bitcoins and how it originated, simply read beginner’s guide on bitcoin.
Since 2009, the value of the bitcoin cryptocurrency has increased to pass that of Gold, and any of the traditional fiat currencies in so many ways.
Many companies and startups these days, are beginning to accept Bitcoin as a mode of payment. Examples are: Amazon, Ebay, ASOS etc.
Previously, I wrote a post on how cryptocurrencies are being valued, and which their valuation increases within time.
Bitcoin and all other cryptocurrencies (known as Altcoins) increases in value over some time.
How is Bitcoin converted to cash?
It’s 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 you’re 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 (EUR), Pound (GBP), Dollars (USD) 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.
How do you cash in Bitcoin?
However, before you choose any of the methods we’re going to discuss in this post of how to convert Bitcoin to cash, you’ll first of all need to consider how you want to receive your money.
To be honest, you can actually sell your Bitcoin investment in person-to-person transaction, or you can also make use of crypto exchanges to sell it and redeeming bitcoins for cash directly, as well as deposited into your bank account.
Additionally, you can even use Bitcoin cryptocurrency to buy goods from online merchants like Amazon for instance. Amazon uses a service known as Purse.io for this particular purpose.
Well, I presume the reason you’re here today, is to know how you can have your BTC converted to physical cash, or which will be transferred into the bank account of your choice.
Now let’s get straight into discussing of the methods you can get your BTC converted to fiat currencies.
Exchanges that Accepts Fiat
This is one of the easiest ways to get your Bitcoin cryptocurrency to be sold for fiat cash like; Dollars, Euros, Pounds and Naira.
There are many exchanges that accept fiat exchange for bitcoins, but you will have to find out the one that works perfectly in your country or region.
- Coinbase – USD/EUR
- BitMex – USD
- Kraken – USD/EUR
- BitFinex – USD/EUR
- BitFlyer – USD/EUR
- Luno – USD/NGN
- NairaEx – NGN
Mind you that some of the exchanges listed above may not be working globally, so you need to check thoroughly, before having your investment transferred to them for conversion.
This can be said to be very risky, if don’t check very well before trying to use an exchange to cash out Bitcoins to real money.
If you happen to be a Nigerian, you can always make use of Luno to sell bitcoins instantly.
Cashing bitcoins with Luno exchange is very easy, thought a withdrawal fee will be deducted during the process.
Talking about how to cash out large amounts of Bitcoin, there’s another option of P2P buying and selling of BTC with a platform globally known and thatmbrings me to the next option.
LocalBitcoins P2P platform
LocalBitcoins is a popular P2P exchange platform, and Bitcoin start-up specifically establishes to make it very easy to exchange the crypto-coin among the users.
LBC is based in Helsinki, Finland, and it’s been in operation since 2012. It has users as buyers and seller in over 15,000 cities across 248 countries in the world.
No doubt, you will definitely find buyers in your own country when you register an account on the platform.
If you even want some money in PayPal, then you should read my guide on how to cash out Bitcoins to PayPal.
On LocalBitcoins, you’ll always deal with a buyer or seller directly – plus you can as well receive your money in any supported currency format of your choice.
Examples of currency formats you can receive the money you converted using LBC are; Bank Fiat Deposit, Bank Cash Transfer, PayPal and Payoneer.
This is exactly why LocalBitcoins is one of the most preferred choices for those investors that doesn’t want to be using crypto exchanges.
You can get to meet both buyers and sellers online, and transact offline. The money for transaction can be paid in cash or wired.
Even if you are looking for how to convert bitcoins to cash anonymously, just Register an account with LocalBitcoins to start exchanging BTC to cash.
However, be sure to check the buyer/seller reputation first before making trades. The higher the reputation, the more secured and trustworthy a seller/buyer will be.
Using Bitcoin ATM
This is the only way you can convert that your BTC to cash bills, without having to submit all the documents requested by some other platforms.
To learn how you can convert BTC to cash, read my guide on how withdraw money from a Bitcoin ATM instantly.
Digital Fiat Currency
If you’re not all that hasty in having your Bitcoins converted to traditional cash equivalent, or you want to avoid tax liabilities, you can simply convert the cryptocurrency to USDT token.
To understand more about USDT, read my guide on Stablecoins and how they work.
USDT is more like having your bitcoins converted to traditional money, but this time it’s still going to be in a cryptocurrency trading platform that supports Tether coins.
This is a way to avoid taxes due to movement of cash to-and-fro your bank account often.
Also, you need not worry about volatility of cryptocurrencies when you switch to USDT, because it always keep up parity with real US dollars, hence maintaining its value of $1 per USDT always.
This will also cut your headache of always transferring in fiat currencies to exchanges to buy Bitcoins, because USDT can be used to buy Bitcoins later if you want.
Good thing about USDT is that unlike many fiat exchanges, USDT is supported by many exchanges across the world. But the best i have used this feature of intermediate conversion to USDT myself is Binance.
Trade gift-cards for Bitcoin
If you’re up for how to sell or convert BTC to cash anonymously, big companies like Amazon, Overstock and AliExpress has a way to make payment with Bitcoin on their platforms.
What you need to leverage this method, is simply by purchasing any of high-demand products like, mobile phones from Amazon third-party site, Gyft.
This also provides yet another great way how to buy gift cards online for retailers like Amazon, Starbucks, and iTunes with Bitcoins.
Then you can still retail the already bought items for cash on the main amazon e-commerce site. This way you can cash out large amounts of Bitcoin anonymously.
Conclusion on how to cash out Bitcoin
Just know that there’s no other ways to convert Bitcoins into cash without following these methods above.
They are the most simplest and easiest ways you can convert Bitcoin to real cash like; GPB, USD, NGN, or any other fiat cash of your desired country.
While you may want to keep your investment till it increases in value, so you can make profit while you sell Bitcoin to cash, i will advice you to always store your coins in a secure cryptocurrency wallet.
Bitcoin hardware wallet such as Ledger, is designed to hold or store your investment asset in offline mode, using the heuristic deterministic (HD) feature for encryption.
Visit Ledger official website to see some other models of the branded cryptocurrency wallets you can buy. Beware of taxes whenever you want to bitcoin to cash.
There are some Bitcoin to cash converter tools you can use to calculate the tax you need to pay for any amount of cryptocurrency that you may have converted into fiat cash currency.
Beware of crypto-scams that may ask you to use their wallet, and do not disclose your private keys – not even to your family, as that will grant full control of your investment.