Although some businesses accept bitcoin as payment, most of them still don’t, so cashing bitcoin out is necessary. Bitcoin has been around for more than ten years now, so the industry has caught up, thus providing some excellent ways to convert bitcoin into cash.
Here are the three most straightforward ways to convert Bitcoin into cash:
- Via Bitcoin ATM
Most of the major cities around the world have Bitcoin ATM’s nowadays. It is one of the simplest ways of converting your bitcoin to cash. You can also buy bitcoin using fiat currency. So it works both ways. The downturn about this method is that fees can be high, and it is suitable only for small transactions since most ATMs have deposit and withdrawal limits between $1000 to $10,000.
- Via cryptocurrency exchange
Another easy way to convert your bitcoin into cash is by using a cryptocurrency exchange. You can save your coins to government-accepted currencies such as USD, EUR, or GBP. The most popular broker exchange for buying and selling bitcoin is Coinbase. Some other options are Kraken, Coimama, Gemini, Bitstamp, etc. The downturn is that these exchanges do not support all countries, so you will have to find one that supports your country. It is not the fastest way since it can take up to five days to receive your money, depending on the platform you are using.
- Via Bitcoin debit card
You can use a bitcoin debit card to purchase things just like any other debit card. All you have to do is deposit your crypto coins on the card using an online website that converts them into fiat currency. Some of the most popular Bitcoin debit cards are Wirex, Cryptopay, Bitpay, CoinJar, etc. If you hold one of these cards, you can pay for anything, or withdraw cash at ATMs all around the world.
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