So, you have at least one bitcoin, that’s why you are here looking for some ways on how to convert it into cash. Considering that Bitcoin is circulating in the crypto world for more than ten years, it is now well-established. This means that they offer different ways to convert your bitcoins into real money, which we are going to explain below.
Why Convert Bitcoin to Cash?
Considering that a lot of experts think that bitcoin and other forms of cryptocurrencies will replace real money in the future is the main reason a lot of people start to invest in it these days. According to the theories, you can use any form of crypto in purchasing anything you want when it already replaced fiat currencies, such as the US Dollars.
As of the moment, some individuals and businesses, especially in the United States, are accepting bitcoin as payment for availing goods and services. But the number of these businesses and individuals is low. That’s why it would be best if you will convert your bitcoins into cash, meaning you can use your bitcoin value in purchasing physical items.
Another reason is that the bitcoin market is declining. Considering the volatility of the bitcoin price, you can’t ensure whether or not it will continue its sinking or it will increase in the future. But, to protect your cash from possible losses, we recommend you to convert it into cash while waiting for its value to increase. To start bitcoin trading visit Bitcoin Era
There are a lot of ways you can do to convert your bitcoin tokens into real money. Here are some of them:
Sell your bitcoins on a crypto exchange, including Kraken and Coinbase. We find this method the easiest since you can send and withdraw the cash to and from your bank account directly. To ensure that your brokers won’t do anything bad to your money, make sure to withdraw the money from the bank where you deposited with. This might be the most secure, easiest, and simplest option. But take note that its processing time is quite long.
In the United States, usually, processing the money into your bank account takes about a week. But this processing time depends from state to state. Aside from that, you also need to pay the associated fees, which also depend on the country you are living in.
If someone is willing to purchase your bitcoin, ask them to deposit the money directly to your bank account. Do not forget to get the proof of payment or proof of ID before you send your bitcoins.
You should ask your bitcoin buyer to send the payment through a bank transfer. In this case, you may consider using PayPal and other similar systems. Make sure to ask for their proof of ID before releasing your bitcoins. Aside from that, to make sure that your buyer is not a scammer, you may consider sending the bitcoins after you receiving the cash. This is the wisest and safest step to protect your bitcoins from scammers and thieves.
Bitcoin Debit Cards
A lot of websites out there enable you to sell your bitcoins, and as an exchange, you can ask your buyer to send the money through a prepaid debit card. This allows you to utilize the money as if you are using a standard debit card. Each debit card is run by Mastercard or VISA. This means that you can use them when doing offline or online shopping.
Aside from that, bitcoin debit cards also allow you to withdraw money from different ATMs where either Mastercard or VISA are accepted.