Cashing in Bitcoin: Sell Bitcoin For Cash

Cashing in Bitcoin: Sell Bitcoin For Cash

How to sell bitcoin for Cash?

  1. Wallet: That has bitcoin. (with login)
  2. Exchanger: A third party to convert bitcoin to fiat.
  3. Payment getaways: to receive your money like a bank card or bank account, Paypal.

Why are you selling bitcoin?

  • You have some amounts of bitcoin, like 0.01, 0.001, that are not giving better returns.
  • You have found another coin that is giving a better return.
  • You want to sell bitcoin to buy some stuff.
  • Want to sell to pay school fees or something else?
  • The price of bitcoin is dropping.

Cashing in bitcoin on P2P sites.

  • Go to any website (local bitcoins are recommended).
  • Create an account by entering an email and password.
  • Deposit a bitcoin amount from a wallet that you want to sell to any chosen P2P site.
  • Search for payment methods and your country’s currency.
  • Select any broker and send a message with the amount. The broker will respond back and ask you for payment details. (make sure broker is online.)
  • Give payment details to receive your money.
  • In a few minutes, you will receive your money (according to the payment method) as soon as you send bitcoin to the broker.

Merits and demerits.

  • It is easy to use and requires no KYC verification for cashing in bitcoin.
  • Have many payment getaway options.
  • You can also buy bitcoin.
  • There is a big difference between buying and selling prices.
  • There is not much security in storing bitcoin for a long time.
  • The price will change if you change the payment option.

Convert bitcoin to cash on Coinbase.

Merits and demerits.

  • A mobile wallet is extremely simple.
  • You can use it as you want.
  • Support 100+countries.
  • Usually a lower fee than other exchanges.
  • Buying and selling are not available in every country.
  • Coinbase tracks your activity, so it has no privacy.
  • There are limited buying and selling amounts in some countries.

Cash out Bitcoin on CoinSwitch.

Merits and demerits.

  • Easy to start.
  • Best for Indian users.
  • The minimum limit is ₹100.
  • They have listed a thousand coins.
  • You can directly sell any coin without exchanging.
  • Not friendly to all countries.
  • We need KYC to start.
  • The maximum buys and sales amount is low.

Cashing in bitcoin on Kraken.

Merits and demerits.

  • Low fees.
  • Available worldwide.
  • Secure and reliable.
  • One of the oldest and most respected exchange platforms.
  • We have listed many popular cryptos for buying and selling.
  • Not friendly for beginners.
  • Payment only is done by the Bank account.

Sell bitcoin for cash on the Lumi wallet.

Merits and demerits.

  • Extremely simple to use.
  • Multi-cryptocurrencies wallet.
  • Over 1200 coins and tokens are listed.
  • Available for all devices: Android, iPhone, and desktop.
  • The exchange features are available for over 1200 tokens.
  • Cryptos are selling features only to European users.
  • Sometimes it shows trouble due to the governance of Changelly.
  • No more popular coins are listed than Ethereum-based tokens.

Cash out Bitcoin on Bitpanda.

Merits and demerits.

  • Users friendly.
  • They have listed many cryptos for buying and selling.
  • Have many payment methods.
  • It offers many services in one place, such as swaps, trading, payments, and more.
  • Only supporting European countries.
  • Credit card fees are very high.
  • Charging fee for every action, even for deposit and withdrawal.
  • The minimum deposit and withdrawal amounts are also high.

Sell bitcoin for cash via a Bitcoin ATM.

Merits and demerits.

  • Totally secure.
  • Low fees
  • There is no need to worry about the wallet address.
  • It is difficult to find a Bitcoin ATM.
  • Not available in every country.
  • You can only cash out bitcoin via bank card.

Sell bitcoin in person.

Merits and demerits.

  • Fully anonymous.
  • Simple; just scan the QR and send it.
  • Every activity will happen in your presence.
  • You can not specify fees.
  • It’s pretty difficult to find a trader in nearby areas.
  • I have to meet the trader, so it takes time.

Which payment option is best for cashing out bitcoin?


Things to remember when converting bitcoin to cash.

  • The fees are applied everywhere.
  • Choose a bank transfer as a payment option for cashing out bitcoin.
  • KYC verification will always require selling bitcoin
  • You cannot sell any other coin except Bitcoin and Ethereum (but some platforms allow it).
  • You cannot easily sell your bitcoin in your local currency unless you trade with a person.
  • If you have stored bitcoin in a wallet that has sell features, then sell in it to avoid transaction fees.

Abhishek Rajbhar Avatar

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