How to Cash Out Bitcoin: Complete Guide

Crypto debit cards are typically connected to a centralized crypto exchange account and allow how to buy trader joe crypto you to swipe the card for regular purchases. The exchange will convert your crypto to cash and use it for the purchase. P2P trading is considered the cheapest way to convert crypto to cash, thanks to typically lower fees compared to crypto exchanges. However, because P2P trading is implemented without a centralized exchange acting as a middleman, you might encounter unreliable buyers or even scams. To help you avoid these unpleasantries, all merchants on Cryptomus go through a KYC verification system, so you will always find a reliable seller to trade with. During a sale, your bitcoin debit card will convert your bitcoin to the required amount of local fiat currency for your transaction.

Simplify Your Crypto Journey

We are an independent, advertising-supported comparison service. For which purpose or what kind of people is the crypto exchange most useful. Score based on genuine user reviews & opinions about the crypto exchange. Your priorities and preferred methods can be different from other people’s situation but these questions are still important! Your answers will decide which method is the best for your situation.

For nearly 20 years, we’ve been on a mission to help our readers acheive their financial goals with no judgement, no jargon, and no get-rich-quick BS. You can also select the “sell” feature to only look for ATMs that allow you to sell your crypto. Today, Coinme is excited to announce the addition of over 22,000 ATM locations where users can instantly pick up cash for their crypto.

Currently, only Bitcoin selling is supported through Ledger Live. One of the advantages of peer-to-peer exchanges is that they help utilize one of the core benefits of crypto. Some wallet apps, such as Trust Wallet and MetaMask wallet, are advanced in terms of trading and swapping mechanisms. With such crypto wallet apps, you do not need to go to an online Bitcoin exchange platform to sell your crypto.

Offline cold wallets

As we discussed, you can cash out Bitcoin for real money through exchanges, P2P platforms, ATMs, and OTC trading. With the introduction of spot Bitcoin ETFs in 2024, investors have a simple way to buy and sell Bitcoin using a familiar structure. ETFs trade on an exchange and are available through most brokers and the expense ratios on several funds are the price of bitcoin shows theres an asset market bubble so how and when will it pop below what you might pay to trade on a crypto exchange.

Expanding Our Cash Network, Adding Over 22,000 ATMs For Instant Cash Pick Up

1. While crypto wallets are designed to store and secure your crypto, many of them partner with crypto exchanges to offer trading services.
2. The best way to sell Bitcoin for beginners is through a centralized exchange.
3. OTC decks support large transaction sizes and usually have customizable terms.
4. This convenience is a major part of bitcoin debit cards’ appeal, but it also comes with a fee.

But despite the limitations, converting your crypto to cash has become much easier than it used to be. So no matter what crypto app you prefer, you should be able to quickly convert it to a stack of Benjamins. And while peer-to-peer (P2P) exchanges and Bitcoin ATMs offer anonymity, consider the (potential) high fees and hassles of the process. If you are looking to cash out your crypto holdings to make regular purchases, you may be able to do this directly from your digital wallet at a crypto-friendly business. Many retail businesses are now accepting Bitcoin (and select other crypto) to make purchases.

Latest Crypto Videos & News

Online brokerages typically how to buy sell and trade bitcoin diamond have reasonable trading fees for selling crypto. For example, eToro charges a flat 1% trading fee to sell crypto, which is a fairly low rate. Robinhood does not disclose its crypto trading fees, but averages around 0.50% for crypto trades. A crypto mobile app makes it easy to carry out crypto transactions while on the go.

I highly recommend using Binance, Bybit, or Coinbase since they’re the most well-known and trusted platforms in the crypto space. However, you can choose other crypto exchanges if you want to try something different. If you decide to cash out your Bitcoin using a broker exchange such as Coinbase, then it’ll normally take about 1-5 days for the money to reach your account.