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. LocalBitcoins is freeto use unless you create an advertisement for selling your bitcoins, then thereis a small percentage fee charged. BitDegree aims to uncover, simplify how does bitcoin get its value & share Web3 & cryptocurrency education with the masses. Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place. Similar to bitcoin ATMs, Coinme powers thousands of locations through which you can sell your bitcoin for cash in an instant.

Sell Your Bitcoin

You bought low, hodl’d and now are ready to enjoy some of your crypto gains. In addition to paying with crypto directly, cashing out Bitcoin or other cryptocurrencies is something every crypto holder should know about. Here are the top ways to convert Bitcoin to cash fast, cheaply, easy and securely. If you’re itching to exchange your crypto for some cold, hard cash, you’ll want to consider the implications of selling.

Choose your Bitcoin exchange platform

1. If there is a buyer ready and willing to buy at that price, then, the deal is done.
2. In order to achieve this, you will need to pass the KYC verification procedure and submit your ID or take a selfie.
3. Nevertheless, I’ll include some of the recommended P2P platforms with detailed guides to help you get started.
4. When selling crypto for cash, always check the fees before executing the transaction.
5. Stellar USDC provides users with a fast, cheap, and easy-to-use alternative to other USDC enabled blockchains.

From there, you can transfer the money to your bank account if you wish. Some wallet apps, such as Trust Wallet and MetaMask wallet, forex crm solutions and brokerage software are advanced in terms of trading and swapping mechanisms. With such crypto wallet apps, you do not need to go to an online Bitcoin exchange platform to sell your crypto. It is a good idea to make sure that the platform of your choice supports crypto-to-fiat conversion.

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Then, before selling, you can transfer any bitcoin you currently own to your exchange account via a bitcoin wallet address. Thus, in P2P trading the role of the P2P platforms is to provide an avenue where buyers and sellers meet to trade directly with each other. Due to this lack of price fixing, P2P trade has some of the most competitive rates for crypto exchange. You are also likely going to get your preferred fiat currency on a P2P exchange platform than on ordinary crypto exchanges. However, instead of using a bank account, the card pulls funds from a crypto wallet. The BitPay Card is one of the top crypto cards for U.S. residents.

Here’s what to know about Bitcoin and how it can be converted into “real world” money. We’d love to hear your preferred methods for converting crypto holdings to cash! A crypto withdrawal is when you transfer crypto tokens to an external wallet or a crypto exchange, and it allows you to take full control over your holdings.

Nevertheless, margin trading in cryptocurrency some conditions apply depending on the payment method you choose. Bybit offers all the necessary information about it, so make sure to read it before completing a transaction. Either way, you’ll need to sign up and go through the KYC process so that your account is verified.

The exchange platform (i.e. Binance) acts as a middleman – it connects you (your offer or request) with that other person (the seller or the buyer). With a brokerage, however, there is no “other person” – you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term – exchange. It was a crucial part of the P2P process that set the example for the current P2P platforms like Binance P2P or Bybit P2P.

So, no matter where you were from, you should have been able to find buyers to sell your Bitcoin for USD. Your priorities and preferred methods can be different from other people’s situation but these questions are still important! Your answers will decide which method is the best for your situation. Xe makes it easy to monitor Bitcoin conversion rates and transfer money and can be a valuable resource for those working with Bitcoin and other forms of currency.