How Does Bitcoin Convert To Cash

• Do you HODL bitcoins?
• Are you looking to cash out your bitcoins?

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Well, if these questions resonate with you, then you are in the right place.

I believe some of you want to sell their bitcoins because of one of these reasons:

• You have now lost interest in Bitcoin.
• Or you think you have made enough returns out of your Bitcoin investment.

In any case, you just want to convert your BTC into cash either to realize profits or free up your stuck capital.

However, whatever your reason might be, I understand your stand as one might sometime feel the need for extra capital or would like to realize profits.

That's why I think it is important to talk about the questions that come up while converting BTC into cash so that you don't hit a road:

• How to get USD, EUR or GBP for Bitcoin?
• Where to cash out Bitcoin?
• Where to convert Bitcoin into fiat like USD, EUR, GBP, etc?
• How To Withdraw Bitcoins To Cash?

Bitcoin To Cash: How & Where To Convert Bitcoin Into Cash USD, EUR, GBP

So some of the exchanges that allow you to do so are:

These exchanges will help you cover most of Europe, the US, and the UK. Cashing out Bitcoin isn't easy at it looks but for you we have found out some of the best ways through which you can convert your bitcoins into cash.

But before we get into the specifics of that, you need to decide how do you want your cash?

Do you want it in your bank account or you want the hard cash by meeting someone in person.

Or do you want to have other stuff in exchange for your bitcoins like gift cards or Amazon products from Purse.io?

For now, assuming that you want the cash in your hand or your bank account, let's get started:

How & Where To Exchange Bitcoin For (or to) Real Cash Money Like US Dollars (USD), Pound Sterling (GBP), Euro (EUR), etc?

#1. Convert Bitcoin Into Cash Through A Fiat Supporting Exchange

It is highly likely that if you don't have Bitcoin ATMs near you, you will be having fiat accepting Bitcoin exchanges in your country.

Using these exchanges, you can easily convert your bitcoins into cash like USD, EUR, or GBP. Of course, for this, you will be required to find such an exchange that deals in fiat and cryptocurrencies both.

You will also need to complete your KYC on such exchanges before you can exchange BTC to cash because fiat currency laws in most countries want exchanges to adhere to this policy.

Of course, I understand that I have not listed all the countries here but in reality, not all countries have such fiat linked cryptocurrency exchanges.

So for residents of those countries, I will be listing another method through which they can meet Bitcoin buyers/sellers in their country to cash out their bitcoins.

#2. Meet & Trade In-Person To Get Cash Through LocalBitcoins

For those BTC holders who have neither crypto exchanges nor Bitcoin ATMs in their country can exchange BTC for cash through LocalBitcoins.

LocalBitcoins is a peer to peer Bitcoin exchange service based out of Finland. LocalBitcoins is an escrowed service that has garnered quite a bit reputation since 2012 as the most liquid P2P Bitcoin exchange.

On LocalBitcoins you will a no-ground network of Bitcoin buyers and sellers in 16537 cities and 248 countries including your country too.

It gets better:

Through LocalBitcoins, you can meet the buyers and sellers in-person to negotiate and execute a Bitcoin trade. Moreover, when you are cashing out BTC you have a lot many options to receive your cash ( SEPA Transfer, bank deposit, PayPal, Payoneer, cash).

Getting started with LocalBitcoins is also easy as it only takes your email ID to begin with. After which you can explore the simple and intuitive UI of LocalBitcoins to filter out relevant buy/sell deals for yourself.

Note: Be sure to check the reputation of the buyer/seller before you decide to pick up a deal on LocalBitcoins and never release your bitcoins without confirming your payment receipt.

And just when I am completing this, I am realizing that there might be another category of Bitcoiners who would be thinking to cash out Bitcoin to short it and buy back when the price is lower.

For those kinds of Bitcoin users converting Bitcoin into cash might not be the ideal thing and that's why such types of users prefer converting Bitcoin to USDT like stablecoins.

And hence I am sharing a bonus method just to do the same.

#3. Convert Bitcoin To USDT or Stablecoin like TUSD etc

Anyone who wants to cash Bitcoin and not get into KYC like things can do so by cashing out in fiat digital currencies, i.e., Stablecoins like USDT, TUSD, etc.

Here are some of the popular exchanges that will let your convert BTC to USDT or similar stablecoins:

• Binance: Supported pairs are BTC/USDT, TUSD/BTC
• BitBay: Supported pairs are XMR/BTC
• Huobi: Supported pairs are BTC/USDT
• Gate.io: Supported pairs are BTC/USDT

This method will reduce your headache of dealing with KYC and other banking problems which you might run into when trying to cash out your bitcoins through fiat linked crypto exchanges.

*****4. Bonus: Cashout Bitcoins Through A Bitcoin ATM

One of the easiest ways to convert Bitcoin to cash is through Bitcoin ATMs.

For those of you who don't know about Bitcoin ATMs, here is a simple explanation of it:

Bitcoin ATMs are much like traditional exchanges from where you can either get cash for Bitcoin, or you can get Bitcoin for cash. This method is usually anonymous and requires you to have a Bitcoin wallet in case you are receiving Bitcoin or selling it.

A Bitcoin ATM asks you to scan its public address, and when you have transferred BTCs to that address, it splits out equivalent fiat.

For this, you first need to make sure that you have a Bitcoin ATM nearby and that you can do it through the Coin ATM Radar service.

Using Coin ATM Radar, you can find out nearby Bitcoin ATMs and check its exchange rates as well as transaction fees. For example, this Bitcoin ATM in Chicoutimi at Place du Royaume has these specs:

• ATM Type: Genesis Coin
• Direction: Fiat ⇄ Crypto
• Fees: Buy 13.0%, Sell 16.9% from BitcoinAverage Fees updated: 12 minutes ago.
• Limits: Buy: $10000/txn, Sell: $2900/txn

So this is how you can get fiat for Bitcoin through a Bitcoin ATM.

But just after writing this, I realized that not everyone would be able to find Bitcoin ATMs nearby.

That's because there are only a few Bitcoin ATMs around the world as of now and that brings me to my next section which is a much easier way to convert BTC to fiat if you don't have ATMs nearby you.

Conclusion: How To Convert Bitcoins to cash

These are some of the best methods that you can use to cash out your bitcoins for fiat currencies like USD, EUR, CNY, or GBP. 150 no deposit bonus codes 2019.

However, I understand that many countries are still left untouched by the methods I have listed above and to name a few such as Australia, Zimbabwe, Argentina, etc.

For these countries and other left-out countries, TheMoneyMongers plans to bring a comprehensive list of resources using which they will be able to buy/sell Bitcoin in their respective countries.

We intend to start first with first and second world countries such as listed below. After which we will finally make our way for third world countries, who actually need Bitcoin the most.

• The USA
• India
• Europe
• Australia
• China
• Japan

So untill we do so, I want to leave you with answers of few frequently asked questions (FAQs) to help you relax in order to exchange your bitcoins to cash:

For those kinds of Bitcoin users converting Bitcoin into cash might not be the ideal thing and that's why such types of users prefer converting Bitcoin to USDT like stablecoins.

And hence I am sharing a bonus method just to do the same.

#3. Convert Bitcoin To USDT or Stablecoin like TUSD etc

Anyone who wants to cash Bitcoin and not get into KYC like things can do so by cashing out in fiat digital currencies, i.e., Stablecoins like USDT, TUSD, etc.

Here are some of the popular exchanges that will let your convert BTC to USDT or similar stablecoins:

• Binance: Supported pairs are BTC/USDT, TUSD/BTC
• BitBay: Supported pairs are XMR/BTC
• Huobi: Supported pairs are BTC/USDT
• Gate.io: Supported pairs are BTC/USDT

This method will reduce your headache of dealing with KYC and other banking problems which you might run into when trying to cash out your bitcoins through fiat linked crypto exchanges.

*****4. Bonus: Cashout Bitcoins Through A Bitcoin ATM

One of the easiest ways to convert Bitcoin to cash is through Bitcoin ATMs.

For those of you who don't know about Bitcoin ATMs, here is a simple explanation of it:

Bitcoin ATMs are much like traditional exchanges from where you can either get cash for Bitcoin, or you can get Bitcoin for cash. This method is usually anonymous and requires you to have a Bitcoin wallet in case you are receiving Bitcoin or selling it.

A Bitcoin ATM asks you to scan its public address, and when you have transferred BTCs to that address, it splits out equivalent fiat.

For this, you first need to make sure that you have a Bitcoin ATM nearby and that you can do it through the Coin ATM Radar service.

Using Coin ATM Radar, you can find out nearby Bitcoin ATMs and check its exchange rates as well as transaction fees. For example, this Bitcoin ATM in Chicoutimi at Place du Royaume has these specs:

• ATM Type: Genesis Coin
• Direction: Fiat ⇄ Crypto
• Fees: Buy 13.0%, Sell 16.9% from BitcoinAverage Fees updated: 12 minutes ago.
• Limits: Buy: $10000/txn, Sell: $2900/txn

So this is how you can get fiat for Bitcoin through a Bitcoin ATM.

But just after writing this, I realized that not everyone would be able to find Bitcoin ATMs nearby.

That's because there are only a few Bitcoin ATMs around the world as of now and that brings me to my next section which is a much easier way to convert BTC to fiat if you don't have ATMs nearby you.

Conclusion: How To Convert Bitcoins to cash

These are some of the best methods that you can use to cash out your bitcoins for fiat currencies like USD, EUR, CNY, or GBP. 150 no deposit bonus codes 2019.

However, I understand that many countries are still left untouched by the methods I have listed above and to name a few such as Australia, Zimbabwe, Argentina, etc.

For these countries and other left-out countries, TheMoneyMongers plans to bring a comprehensive list of resources using which they will be able to buy/sell Bitcoin in their respective countries.

We intend to start first with first and second world countries such as listed below. After which we will finally make our way for third world countries, who actually need Bitcoin the most.

• The USA
• India
• Europe
• Australia
• China
• Japan

So untill we do so, I want to leave you with answers of few frequently asked questions (FAQs) to help you relax in order to exchange your bitcoins to cash:

Q1) Can You Exchange Bitcoin for US Dollars (USD), Pound Sterling (GBP), Euro (EUR), CAD, etc?

Yes, you can very well exchange Bitcoin for various fiat currencies like USD, GBP, or EUR. There are more fiat currencies to which you can convert according to the country where you are residing.

Q2) How To Convert Bitcoins To Cash Anonymously?

This part is a bit tricky as there aren't many services that you can use to convert BTC to cash anonymously. But you can definitely try LocalBitcoins with an alias name and identity to meet someone in person to exchange BTC to cash

So that's all from our side in this round-up and I hope you liked this? If you did !! Do share it with your friends on social media who want to buy or sell Bitcoin !!

Note: Better than selling and cashing out your bitcoins, you can always take Bitcoin loans on your BTC holdings. Here is how you do that !!

Also, If you need some direction, feel free to contact us at @themoneymongers.

Contents

• Bitcoin To Cash: How & Where To Convert Bitcoin Into Cash USD, EUR, GBP
  • Conclusion: How To Convert Bitcoins to cash

Even though Bitcoin transactions aren't nearly as anonymous as everyone hoped, there are still several ways how you can convert your Bitcoin funds to USD cash while keeping your identity hidden to a considerable extent.

Are you looking to cash out your Bitcoin?

LocalBitcoins is the best way to exchange Bitcoin to cash. You can make the exchange anonymously with private and experienced sellers. And in some areas, it might be the only way to exchange Bitcoin where exchanges are not available. Get started here.

Trade Locally Using LocalBitcoins

LocalBitcoins is a Finland-based service that facilitates the over-the-counter trading of local currency in exchange for Bitcoins. The service allows you to trade Bitcoins in 15,650 cities and 248 countries around the world, and all that's required from you to use it is a simple account registration and verification, which can be completed in just a few minutes.

LocalBitcoins displays advertisements from users, who state exchange rates and payment methods for buying or selling Bitcoins. Other users may reply to these advertisements and negotiate the terms of trade. LocalBitcoins acts as an intermediary, providing an escrow and conflict-resolution service, in addition to the platform itself.

Most local trades using LocalBitcoins happen in larger cities. Full flush poker. Two LocalBitcoin users agree on a meeting place and a time for the trade to occur and typically use a smartphone Bitcoin wallet to perform the transaction itself. LocalBitcoins has its Android app, which is a must-have for any local trading.

Withdraw Cash from Bitcoin ATM Near You

There is a growing number of Bitcoin ATMs, which are Internet-connected machines that allow people to exchange Bitcoins for cash, and vice versa. Bitcoin ATMs can be typically found in high-traffic areas, such as shopping malls or train stations.

The Bitcoin ATM Map app from CoinATMRadar allows you to find all Bitcoin ATMs near you quickly. It even lists all the cryptocurrencies each ATM supports as well as its address, fees, limits, and sometimes even pictures and other useful information.

How Do I Convert Bitcoins To Cash Anonymously

Just keep in mind that Bitcoin ATMs usually charge very high transaction fees. It's not unheard of to pay more than $50 in fees alone for a single transaction performed using a Bitcoin ATM.

Spend It or Buy Gift Cards

Thousands of retailers and services around the world accept Bitcoins, including such giants as Amazon and Overstock.com. If you're willing to jump through a few hoops, you could purchase some high-demand items, for example, the Samsung Galaxy S8 Edge or the iPhone 8 Plus, with your Bitcoins and then sell the item on eBay for cash.

Read our previous article for more recommendations of Bitcoin-friendly stores, including Gyft, which provides a great way how to buy gift cards online for retailers like Amazon, Starbucks, and iTunes with Bitcoins.

Best way: Coinbase/GDAX

Coinbase is a very popular digital currency exchange headquartered in San Francisco. Coinbase users can trade Bitcoin, Bitcoin Cash, Ethereum, and Litecoin with fiat currencies in 32 countries. Because Coinbase complies with the Bank Secrecy Act, which prevents money laundering, it requires its users to go through a simple verification process.

As such, Coinbase isn't anonymous, but it is reliable and trustworthy. What's more, the exchange offers a fantastic app for Android and iOS, which has even become onf of the most downloaded app in the Apple App Store.

Are you looking to cash out your Bitcoin?

How Does Bitcoin Convert To Cash Money

LocalBitcoins is the best way to exchange Bitcoin to cash. You can make the exchange anonymously with private and experienced sellers. And in some areas, it might be the only way to exchange Bitcoin where exchanges are not available. Get started here.

Convert Bitcoin To Money