I recommend using your own country (of course), however, this is up to you. There is also a rating system like eBay, where you can leave feedback for the buyer or seller. If you are a beginner, I only recommend selling to buyers who have 100% positive feedback.

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Similarly, many crypto wallets like Ledger let you sell crypto for cash right from its wallet. Cashing out at an ATM is the equivalent of selling your Bitcoin, says California Bitcoin ATM company Hermes Bitcoin. Bitcoin ATMs are a way to get immediate access to cash using your bitcoins.

Use an exchange to sell crypto

Centralized exchanges charge network fees and transaction fees, but if you’re already holding your crypto in an exchange’s wallet, this is the fastest way to cash out your crypto. But we do have to make money to pay our team and keep this website running! TheCollegeInvestor.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. The College Investor does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with).

Go with a peer-to-peer trade

Once you confirm the trade, cash deposits in your Coinbase cash wallet. From there, you can withdraw the money to your linked bank account. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service. You can what is other identify of financial institution reconciliation assertion also do a direct trade, selling your cryptocurrency directly to another person through another entity.

The most popular way is through a peer-to-peer online platform that allows sellers to find the best offers through an exchange, though one could even do it in person if needed. And while Coinbase is a popular option to sell cryptocurrency, it’s likely most useful to go with whatever exchange currently holds your coins, if you don’t have custody of the coins yourself. BitDegree aims to uncover, simplify & share Web3 & cryptocurrency education with the masses.

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For instance, the type of bank account you own, the crypto coins you’re holding, and how much you want to withdraw at once will influence the fees you’ll need to pay. One way to reduce these fees is to make as few withdrawals as possible. This is because many providers calculate fees as a percentage of the transaction’s total value. However, if you want a wide range of options for cashing out your crypto, then this is your best bet. These exchanges are also very reliable and user-friendly, which makes them an appealing option for many traders. Different exchanges and money-transfer apps charge various fees depending on the crypto you’re selling, network congestion, and how much you’re selling.

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1. In addition to paying network fees to transfer your Bitcoin, ATMs charge service and transaction fees that can exceed 15% per transaction.
2. Stellar USDC provides users with a fast, cheap, and easy-to-use alternative to other USDC enabled blockchains.
3. Cash out crypto onto popular gift cards like prepaid Mastercards, Best Buy gift cards and more.
4. At Finance Strategists, we partner with financial experts to ensure the accuracy of our financial content.
5. Bitcoin ATMs are a way to get immediate access to cash using your bitcoins.
6. The amount of tax you have to pay and the process to do so will vary depending on which country you’re located in.

The catch with the best online brokers is that these platforms don’t allow you to transfer crypto into the brokerage. You must be holding your Bitcoin with the platform to be able to sell it for cash. This means that if you hold Bitcoin in a digital wallet or on a crypto exchange, you cannot move it to an online brokerage account to sell. Many crypto exchanges charge high fees if you use their simple “sell my crypto” option.

Many centralized exchanges also offer P2P exchange options, including Binance, KuCoin, and ByBit. While not quite as easy as swiping your debit card at an ATM, cashing out Bitcoin (or other cryptos) has gotten much easier over the past few years. So, yes, there are several ways to turn your Bitcoin holdings into cold, hard cash — but there are several things to consider before you do.

Below, we’ll walk you through each bitcoin cash out method so you can decide which one is right for you. Ensure transparency in communication, meet in public places if dealing in person, use platforms with an escrow service, and check buyer/seller reviews to minimize risks. However, the financial landscape isn’t just about cashing out; it’s about ensuring security through measures like 2FA and staying tax-compliant to avoid legal repercussions. Vigilance against potential scams and a keen eye on market volatility are also paramount. While it’s impossible to predict market movements with absolute certainty, staying updated with market trends can aid in making informed cash-out decisions. Cashing out your cryptocurrency is a straightforward process, though it’s essential to proceed with caution and be aware of fees and security measures.

But it doesn’t matter if you’re cashing out your crypto for astronomical returns or to free up capital; you need to know what options you have so you cash out safely and don’t overpay on fees. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. The article also provides basic knowledge about cryptocurrency transactions. If you don’t like the thought of having to wait three days for cashing out Bitcoin, you should consider using a peer-to-peer selling platform like LocalBitcoins.

While crypto ATMs present convenience, they might levy higher fees. Direct bank transfers, selling for cash, crypto debit cards, and even gift card conversions offer diverse liquidation routes. You can sell Bitcoin for cash through several methods, but crypto exchanges and P2P platforms are the most widespread and easiest to use. These platforms often prioritize user experience and provide intuitive interfaces suitable for both novice and experienced traders.