They allow you to easily buy, sell, or trade different digital coins. One of their biggest perks is their user-friendly design so you can convert crypto to fiat within a few clicks. All you need is to pick the token and enter the exact sum to be sold. If you want to cash out your crypto, using the best cryptocurrency trading platforms a centralized exchange, online broker, or money transfer app is a low-fee way to sell, but be aware of the limitations that each app has.

How to Cash Out Bitcoin Easily

If you’ve just started trading crypto, chances are you’re using a crypto exchange such as Binance or Coinbase. BTC withdrawals can be delayed because they need to be verified by the network first. The first step is to find a brokerage firm that will find a suitable buyer for your tokens. You can buy ethereum at coinbase buy ethereum with western union locallitecoins withdraw Bitcoin anytime with some platforms, but others may have limited hours for processing withdrawals.

Peer-to-Peer (P2P) Trading

It was a crucial part of the P2P process that set the example for the current P2P platforms like Binance P2P or Bybit P2P. At first, you’ll exchange Bitcoin for USD or another currency that’s available on the crypto exchange. Before picking the one to use, consider factors like security, supported cryptocurrencies, withdrawal methods, and fees.

Also, you won’t be charged any transaction fees when using Bybit P2P, so how to buy vethor token you can enjoy easy selling (or buying!) of crypto. Nevertheless, some conditions apply depending on the payment method you choose. Bybit offers all the necessary information about it, so make sure to read it before completing a transaction.

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. The key with these apps is you need to already hold your crypto within the app, otherwise you can’t cash out.

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Some crypto enthusiasts are in it for the long haul while others may choose to cash out as soon as they make a profit. Figure out which camp you live in and decide whether converting your crypto into cash is the right finance decision for you at this moment. However, P2P trading may have slower trading speeds, as you and the buyer have to both agree to the terms of the transaction. Also, if you’re not using a reputable platform, you risk getting scammed out of your hard-earned Bitcoin. While using a crypto exchange to cash out your Bitcoin might not be the most efficient method, it has the advantage that you can contact customer support in case something goes wrong.

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. While technically not cash, converting crypto into gift cards usable practically anywhere is a close compromise. BitPay allows you to purchase gift cards with Bitcoin along with 15+ other top cryptocurrencies. Cash out crypto onto popular gift cards like prepaid Mastercards, Best Buy gift cards and more.

1. For example, LocalBitcoins offered a good level of safety because of their escrow service.
2. Bankrate.com is an independent, advertising-supported publisher and comparison service.
3. With Cryptomus it’s all possible — sign up and manage your cryptocurrency funds with our handy tools.
4. OTC decks support large transaction sizes and usually have customizable terms.
5. These are some (but not all!) of the questions that you’ll need to ask yourself.

Trading apps like Robinhood offer several cryptocurrencies to invest in, and you can buy or sell crypto just like on a crypto exchange. LocalBitcoins is freeto use unless you create an advertisement for selling your bitcoins, then thereis a small percentage fee charged. Also, you can use it to withdraw cash from supported ATMs, making it one of the fastest ways to turn Bitcoin into cash. If you’re already using a crypto exchange, you can get a crypto debit card and use the funds within your wallet. Popular crypto exchanges are always a good bet, as they are reliable and well-known, while online platforms with peer-to-peer selling may allow for flexibility of payment. You can go the convenient route and use a Bitcoin ATM to get fast access to your crypto but at a significantly higher commission.

How to Cash Out Bitcoin: The Case of LocalBitcoins

The exchange will convert your crypto to cash and use it for the purchase. With an online peer-to-peer trade, you can sell cryptocurrency online in exchange for dollars. These transactions are often facilitated by an exchange, and Binance runs a well-known online peer-to-peer platform called Binance P2P.