Bitcoin is a currency available to everyone. However, it is not always possible to carry out all types of transactions with it. Especially when you want to purchase something that you can only pay for with fiat money. Fortunately, there are various methods to exchange Bitcoin into cash.
From crypto exchanges to BTC ATMs, the options for exchanging Bitcoin for cash are so varied that you will certainly have no problem converting almost any amount of cryptocurrency into physical bills with the following alternatives.
Best methods to exchange BTC for cash
– Cryptographic debit cards: Some of the best cryptocurrency exchanges issue their own physical credit cards. You can not only use these to make payments at Bitcoin and conventional points of sale, but also to withdraw small amounts at compatible ATMs, just as you would do with a classic debit card.
– Third party apps to transfer money: It may seem obvious, but the same platforms or applications that you use to acquire your BTC also have mechanisms to carry out the reverse operation. That is, if you bought Bitcoins on PayPal, Binance and even Telegram, it is best to go to them to transform your crypto assets into fiat money and then extract it in cash.
– Use a Bitcoin ATM: These are devices that operate very similar to traditional ATMs and that you can get at different points in your city. You will simply use your wallet to send your tokens to a specific address and receive cash on the spot. Of course, the use of these devices has certain limitations that depend on the country where you are.
– Pay directly with Bitcoin: As we mentioned at the beginning, Bitcoin is the most famous crypto asset in the world, so it is possible to find many businesses that accept it as a payment method. This way, you won’t even have the need to exchange your tokens for cash.
– P2P Commerce: In this case, it is best to go to platforms with a good reputation. Especially because since it is an exchange between people, the chances of fraud are increased. Still, this is a method that has more benefits than disadvantages. And in addition to having a wide variety of payment methods, P2P operations usually have much lower commissions.
– Crypto Exchange: It may not be the most efficient or cheapest method, but using crypto trading on your trusted exchange will allow you to exchange BTC into fiat currency. Then, you will only have to request a cash withdrawal from your bank.
