With the 9th largest market cap in the world, it’s no wonder people can’t stop talking about Bitcoin. Even though it only kicked off in 2009, Bitcoin has easily become one of the most talked-about assets around.
And everyone has the same question.
That question is how to turn bitcoin into cash. It’s fun playing with the hottest investment craze going, but at some point you’re going to want to spend it.
Well don’t worry, because we’re here to tell you all about how to turn your hard-earned bitcoin into cold, hard cash. Let’s take a look!
Using Reliable Broker Exchanges
There are plenty of sites out there for making bitcoin trades. These sites, called exchanges, will let you sell your bitcoin to buyers in exchange for cash. You can then simply withdraw that cash to an account of your choosing.
At least in theory.
The downside with broker exchanges is they’re all different. Because of that, they all have different rules about withdrawals, different limits on how much you can take out, and even different conversion rates.
That might not matter if you’re just dabbling, but if you’re serious about investing, you can end up feeling restricted.
Using a Peer-to-Peer Exchange
This can be a faster and more anonymous method than relying on a broker exchange. Think of it as a kind of bitcoin eBay: you log in, find a buyer with a good rating, and sell your bitcoin.
In return, the buyer sends your cash to a place of your choosing. Easy!
What’s more, most peer-to-peer exchanges hold the funds in escrow while the trade is ongoing. That means no one loses their bitcoin or their money until both sides click the “I’m happy” button.
It’s a pretty good way to get your bitcoin cash out. But wait, there’s more!
Using an ATM
Yep, you read that right. There are bitcoin ATMs all over the world, now, and they do just what you’d expect.
Investors can use bitcoin ATMs to buy bitcoins. It’s super anonymous, since the purchases can be conducted by physically inserting cash into the machine, and it’s really quick!
And, of course, you can often use the ATM to turn your bitcoin into cash. Some, like the ones run by bytefederal.com, even let you invest in gold and buy gift cards.
Plus, it’s pretty fun to use an ATM for the currency of the future.
How To Turn Bitcoin Into Cash? However You Want!
In the end, the best way to convert your bitcoin into cash is the one that meets your needs. Newbies probably won’t chafe too much under the restrictions of broker exchanges, while high-volume traders might prefer the opportunities of a peer-to-peer exchange.
Finally, if you want to keep things extra secure and anonymous? Find a bitcoin ATM near you!
And that’s how to turn bitcoin into cash. Even though the cryptocurrency world can seem complex, it’s not really so confusing.
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