For many customers, the easiest way to convert bitcoin to cash, Ethereum, or other blockchain currency is switching back to an exchange, and selling them off for paper money. Binance Currency Converter gives you a quick and safe way to Exchange Bitcoin into cash or USD directly. 2 Best Ways to Convert Bitcoin to Cash. Source: stormgain It is not a secret that investing and trading with cryptocurrencies is a very lucrative job. More and more people found it useful to invest in such a business. No person in the world has not heard of cryptocurrencies, and the number of those who have decided to try their luck.

• Fastest Way To Convert Bitcoin To Cash Flow
• How To Convert Bitcoin To Cash In India

Bitcoin is a cryptocurrency that emerged in 2009. Each Bitcoin is a computer file stored in a digital wallet using Blockchain technology. The Blockchain technology is a transparent, trustless, publicly accessible ledger that allows to securely transfer the funds using public-key encryption and proof of work methods. Using this technology, you can confirm the Bitcoin transformations without any central authorities.

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• 2 How to convert the Bitcoin to cash?

Best Ways To Convert Bitcoins To Fiat Currency

Fiat currency is different from cryptocurrency. It is the currency issued and controlled by the government of that territory. But you can convert Bitcoin to fiat and currency and vice versa. Read on this article till the end to know the best ways to convert the Bitcoins to cash.

How to convert the Bitcoin to cash?

There are some easy ways to convert Bitcoin into fiat currencies like USD, EUR, and INR. They are listed below.

Bitcoin ATMs

Bitcoin ATMs are commonly known as BTMs(Bitcoin Teller Machines). It is available in almost all the major cities in the world. It allows users to easily convert their Bitcoins to fiat currency available in that territory.

Coinbase BTC to USD convert

Coinbase is one of the best ways to convert Bitcoins to USD. It also provides the easiest interfaces to withdraw funds from the bank, PayPal, etc. To use coinbase, first signup and verify your bank account to which you want to get withdrawal. Once you have a fund with coinbase, the below-given steps convert the Bitcoins to fiat currencies.

• Click to buy/sell option
• Click on the sell from the BTC wallet
• Deposit to any local currency wallet
• Provide the amount of BTC you want to convert to fiat currency

Fiat Accepting Exchanges

This is the easiest way to convert your BTC into fiat currency. You can sell your Bitcoin in exchange for fiat currencies via such fiat accepting exchanges.

Gemini Exchanges

Gemini is a famous exchange to convert BTC to fiat currencies. But only a few cryptocurrencies are available with Gemini exchange. They mostly exchange fiat currencies with Bitcoin and Ethereum and this is likely because Gemini seeks to be a highly trusted and institutional friendly transfer. The Gemini exchange now employes 51 people and currently is the world’s 39th largest exchange.

Bitcoin Debit Card

The Bitcoin debit cards allow users to deposit their crypto coins through an online website which automatically converts it into fiat currency. You can also use this card for paying anywhere that accepts Visa. Generally, Bitcoin debit cards are prepaid debit card which allows you to top up your card with Bitcoins, which is then converted into fiat currencies.

Using LocalBitcoins

It allows a peer to peer Bitcoin exchange. It has both buyers and sellers in more than 15,000 cities across the world. LocalBitcoin is the most preferred choice for those who don’t want to use exchanges. You can meet buyers and sellers online directly and can execute the trade.

The main advantage of the LocalBitcoin is that you can receive money in any format that you are convenient with. This is one of the most trusted platforms in crypto exchanges. The difference between other exchanges and LocalBitcoin is that in LocalBitcoin people can place Bitcoin at any rate for selling and the person who is convenient with that rate can buy it. All the buying and selling will be based on an anonymous identity.

Cryptocurrency is a virtual currency that works as a medium of exchange. Unlike fiat currencies, they are not controlled by any central authorities. So, fiat currency is more stable and reliable than cryptocurrencies. This stability of fiat currencies allows it to act as a means of storing value and facilitating exchange and this makes people convert their BTC and other cryptocurrencies to fiat money.

We hope that now you all are aware of the ways to convert BTC into cash. Please let us know your comments and queries through the comment section given below and we will try our best to reach out to you.

• Do you HODL bitcoins?
• Are you looking to cash out your bitcoins?

Well, if these questions resonate with you, then you are in the right place.

I believe some of you want to sell their bitcoins because of one of these reasons:

• You have now lost interest in Bitcoin.
• Or you think you have made enough returns out of your Bitcoin investment.

In any case, you just want to convert your BTC into cash either to realize profits or free up your stuck capital.

However, whatever your reason might be, I understand your stand as one might sometime feel the need for extra capital or would like to realize profits.

That’s why I think it is important to talk about the questions that come up while converting BTC into cash so that you don’t hit a road:

• How to get USD, EUR or GBP for Bitcoin?
• Where to cash out Bitcoin?
• Where to convert Bitcoin into fiat like USD, EUR, GBP, etc?
• How To Withdraw Bitcoins To Cash?

Bitcoin To Cash: How & Where To Convert Bitcoin Into Cash USD, EUR, GBP

So some of the exchanges that allow you to do so are:

These exchanges will help you cover most of Europe, the US, and the UK. Cashing out Bitcoin isn’t easy at it looks but for you we have found out some of the best ways through which you can convert your bitcoins into cash.

But before we get into the specifics of that, you need to decide how do you want your cash?

Do you want it in your bank account or you want the hard cash by meeting someone in person.

Or do you want to have other stuff in exchange for your bitcoins like gift cards or Amazon products from Purse.io?

For now, assuming that you want the cash in your hand or your bank account, let’s get started:

How & Where To Exchange Bitcoin For (or to) Real Cash Money Like US Dollars (USD), Pound Sterling (GBP), Euro (EUR), etc?

#1. 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. Of course, for this, you will be required to find such an exchange that deals in fiat and cryptocurrencies both.

You will also need to complete your KYC on such exchanges before you can exchange BTC to cash because fiat currency laws in most countries want exchanges to adhere to this policy.

Of course, I understand that I have not listed all the countries here but in reality, not all countries have such fiat linked cryptocurrency exchanges.

So for residents of those countries, I will be listing another method through which they can meet Bitcoin buyers/sellers in their country to cash out their bitcoins.

#2. Meet & Trade In-Person To Get Cash Through LocalBitcoins

For those BTC holders who have neither crypto exchanges nor Bitcoin ATMs in their country can exchange BTC for cash through LocalBitcoins.

LocalBitcoins is a peer to peer Bitcoin exchange service based out of Finland. LocalBitcoins is an escrowed service that has garnered quite a bit reputation since 2012 as the most liquid P2P Bitcoin exchange.

On LocalBitcoins you will a no-ground network of Bitcoin buyers and sellers in 16537 cities and 248 countries including your country too.

It gets better:

Through LocalBitcoins, you can meet the buyers and sellers in-person to negotiate and execute a Bitcoin trade. Moreover, when you are cashing out BTC you have a lot many options to receive your cash ( SEPA Transfer, bank deposit, PayPal, Payoneer, cash).

Getting started with LocalBitcoins is also easy as it only takes your email ID to begin with. After which you can explore the simple and intuitive UI of LocalBitcoins to filter out relevant buy/sell deals for yourself.

Note: Be sure to check the reputation of the buyer/seller before you decide to pick up a deal on LocalBitcoins and never release your bitcoins without confirming your payment receipt.

And just when I am completing this, I am realizing that there might be another category of Bitcoiners who would be thinking to cash out Bitcoin to short it and buy back when the price is lower.

For those kinds of Bitcoin users converting Bitcoin into cash might not be the ideal thing and that’s why such types of users prefer converting Bitcoin to USDT like stablecoins.

And hence I am sharing a bonus method just to do the same.

#3. Convert Bitcoin To USDT or Stablecoin like TUSD etc

Anyone who wants to cash Bitcoin and not get into KYC like things can do so by cashing out in fiat digital currencies, i.e., Stablecoins like USDT, TUSD, etc.

Here are some of the popular exchanges that will let your convert BTC to USDT or similar stablecoins:

• Binance: Supported pairs are BTC/USDT, TUSD/BTC
• BitBay: Supported pairs are XMR/BTC
• Huobi: Supported pairs are BTC/USDT
• Gate.io: Supported pairs are BTC/USDT

This method will reduce your headache of dealing with KYC and other banking problems which you might run into when trying to cash out your bitcoins through fiat linked crypto exchanges.

*****4. Bonus: Cashout Bitcoins Through A Bitcoin ATM

One of the easiest ways to convert Bitcoin to cash is through Bitcoin ATMs.

Fastest Way To Convert Bitcoin To Cash Flow

For those of you who don’t know about Bitcoin ATMs, here is a simple explanation of it:

Bitcoin ATMs are much like traditional exchanges from where you can either get cash for Bitcoin, or you can get Bitcoin for cash. This method is usually anonymous and requires you to have a Bitcoin wallet in case you are receiving Bitcoin or selling it.

A Bitcoin ATM asks you to scan its public address, and when you have transferred BTCs to that address, it splits out equivalent fiat.

For this, you first need to make sure that you have a Bitcoin ATM nearby and that you can do it through the Coin ATM Radar service.

Using Coin ATM Radar, you can find out nearby Bitcoin ATMs and check its exchange rates as well as transaction fees. For example, this Bitcoin ATM in Chicoutimi at Place du Royaume has these specs:

• ATM Type: Genesis Coin
• Direction: Fiat ⇄ Crypto
• Fees: Buy 13.0%, Sell 16.9% from BitcoinAverage Fees updated: 12 minutes ago.
• Limits: Buy: $10000/txn, Sell: $2900/txn

So this is how you can get fiat for Bitcoin through a Bitcoin ATM.

But just after writing this, I realized that not everyone would be able to find Bitcoin ATMs nearby.

That’s because there are only a few Bitcoin ATMs around the world as of now and that brings me to my next section which is a much easier way to convert BTC to fiat if you don’t have ATMs nearby you.

Conclusion: How To Convert Bitcoins to cash

These are some of the best methods that you can use to cash out your bitcoins for fiat currencies like USD, EUR, CNY, or GBP.

However, I understand that many countries are still left untouched by the methods I have listed above and to name a few such as Australia, Zimbabwe, Argentina, etc.

For these countries and other left-out countries, TheMoneyMongers plans to bring a comprehensive list of resources using which they will be able to buy/sell Bitcoin in their respective countries.

We intend to start first with first and second world countries such as listed below. After which we will finally make our way for third world countries, who actually need Bitcoin the most.

• The USA
• India
• Europe
• Australia
• China
• Japan

So untill we do so, I want to leave you with answers of few frequently asked questions (FAQs) to help you relax in order to exchange your bitcoins to cash:

Q1) Can You Exchange Bitcoin for US Dollars (USD), Pound Sterling (GBP), Euro (EUR), CAD, etc?

Yes, you can very well exchange Bitcoin for various fiat currencies like USD, GBP, or EUR. There are more fiat currencies to which you can convert according to the country where you are residing.

Q2) How To Convert Bitcoins To Cash Anonymously?

How To Convert Bitcoin To Cash In India

This part is a bit tricky as there aren’t many services that you can use to convert BTC to cash anonymously. But you can definitely try LocalBitcoins with an alias name and identity to meet someone in person to exchange BTC to cash

So that’s all from our side in this round-up and I hope you liked this? If you did !! Do share it with your friends on social media who want to buy or sell Bitcoin !!

Note: Better than selling and cashing out your bitcoins, you can always take Bitcoin loans on your BTC holdings. Here is how you do that !!

Also, If you need some direction, feel free to contact us at @themoneymongers.

Contents

• Bitcoin To Cash: How & Where To Convert Bitcoin Into Cash USD, EUR, GBP
  • Conclusion: How To Convert Bitcoins to cash