Digital currencies are taking over. Is there a need to repeat this anymore? Even the sparrows on the branches know this for a fact. If you haven’t heard about Bitcoin you have been living under a rock, my dear sir. We’re not here to offend anyone, but even a person in the most secluded corner of the world with a smartphone in their hands must have heard about digital currencies. As we said, they’re taking over the financial markets, and today, you have millions of people investing in crypto on daily basis. You should try it, as we claim and have heard, and it was confirmed that BTC and similar crypto can make you a rich many quickly.
But, there’s a catch. Yes, there always is one. Cryptocurrencies are highly volatile. While you can earn millions you could also start spiraling downwards. This is one of the primary reasons why people still don’t believe in cryptocurrencies to the full extent of the world. Fiat currencies still hold value as they’re real and you can feel them in your hands. So if you are Bitcoin enthusiasts who invested, got high earnings, but now are ready to cash out as you don’t trust the process, you’re in the right place. There are various ways in which you can exchange your valuable crypto into hard solid cash. In this article, we’re going to discuss the three best ways to exchange Bitcoin for cash. Let’s start.
1. Converting Through an Exchange
Bitcoin is all around us. Each day there are new ways to buy and invest it. So, it’s no wonder there are ways to sell it or exchange it for cash. One of the best, and most straightforward ways of dealing with transferring BTC to ash are the Bitcoin exchanges. By using third-party services it has never been easier to get some Dollars or Euros out of your digital currency. The best part is that most of the exchange doesn’t have to happen in person. No, these are digital currencies and the way to do it is through applications. It all comes down to the country you live in and which fiat currency are you looking for. It is easy for US Dollars or some other mainstream fiat currency. If you’re coming from a smaller country it might be harder to exchange it directly but is doable to an extent. Some of the most valuable and trustworthy exchanges which operate in most parts of the world are Kraken, Coinbase, Maicoin, Luno, Paybis, CEX, and Coinmama, among many others.
All you need to do is to register at their account, open a wallet, and send your money to your bank account. While this is a great and safe way to do things, we must state that it can be a lengthy process at times. So, no, speed is not a trait of these exchanges. Another issue might be if this is your first time doing it as the approved process at some of these exchanges takes weeks at times.
2. Using Peer-to-Peer Network
Here we have another way to get your hands on the cash you value so much. This is a quick way to get things done, and its biggest trait is that it offers anonymity. Selling Bitcoin for cash via a peer-to-peer platform is a quite popular way of getting things done in this department. One of the most popular locations where you can do this is called LocalBitcoins. The best part of doing things this way is that you can choose who’s the buyer going to be. Through the peer-to-peer network, you release a statement that your Bitcoins are for sale. Once the marketplace is on later the buyers will start answering your calls. The provider of the services is the guarantee that you’ll be sending the coins in one direction, and that the payment is coming your way. The best part is that you won’t have to let go of your coins until the payment is processed. An important factor to consider is that these services come at a cost, as the provider takes a small percentage for guaranteeing you a safe passage.
3. Direct Trading
The old ways are the best way. While BTC is a digital currency, you can sell it the old way – face to face. It is possible to sell your coins to a person or a company by meeting them in person. While meeting in person is going overboard when it comes to BTC, you can sell them online by getting in touch with the buyer via social networks or video calls. While person to person is still an option we would recommend that you use one of the online platforms intended for this type of deal instead of doing it the old-fashioned way.
But, if you insist on doing it face to face we can’t stop you. Al we can do is explain how to do it the best and the safest way. Many people sell BTC to friends and family, and meeting them to get the job done is not an issue. All you need to know how to do is to use the technology tied to BTC. First of all, this is the ideal way as you will get the cash straight to your hands. If you both have BTC wallets or use the same exchange the matters will get swiftly done. Another option is that you can sell them your entire wallet by giving them access to data. Of course, this requires mutual trust to an extent we’re not sure exists in today’s world. This is why it’s important not to sell BTC to strangers in person, as you can’t know if you’re being a target of fraud. This is why we always recommend avoiding person-to-person sales as it could take an u-turn real quick. BTC is a mainstream coin now and doing things through the means intended for it is the best route to take. So, if you want to do things the right way, you better find an official partner such as bitcoinprofitpro.com/de.
