Can Bitcoins be Converted to Cash?

Question

In future if I wish to sell my bitcoins and withdraw cash in my bank account, will that be possible for cryptocurrencies? Can I convert Bitcoin into Cash?

in progress 0
cryptic 3 months 1 Answer 67 views 0

Answer ( 1 )

  1. “You may Sell bitcoin on a cryptocurrency exchange, such as Coinbase or Kraken. This is the easiest method if you want to sell bitcoin and withdraw the resulting cash directly to a bank account. To make sure brokers do not break money laundering laws, you will need to withdraw to the same bank account that you deposited with. It’s simple, easy and secure, but it’s not the fastest method. For the U.S., the average time for money to reach your account is about 4-6 days but it varies by country. Any associated fees also depend on the country that your bank is located in. Coinbase is the most popular broker exchange for buying and selling bitcoin. They process more bitcoin transactions than any other broker and have a massive customer base of 13 million. The steps:
    Sign up and complete the verification process.
    Deposit (or buy) BTC into your account
    Cash out your BTC to fiat via bank transfer or PayPal
    Bitcoin ATMs: Unlike traditional ATMs where you can withdraw currency from a bank account, a bitcoin ATM is a physical center that allows you to buy or sell bitcoins with fiat money.
    Bitcoin Debit Cards: Several websites allow you to sell bitcoin and receive a prepaid debit card in exchange, allowing you to use it like a regular debit card.
    Peer-to-Peer Transactions: For a quicker, more anonymous method, you can use a peer-to-peer platform to sell bitcoin for cash. “

Leave an answer

Browse
Browse

By asking your question, you agree to the terms of service and Privacy Policy.