Times when owners treated Bitcoin as a toy and the idea of a cryptocurrency was much more important than the possibility to earn with it are long gone. Due to the widest popularity of this crypto coin around the world nowadays, everyone can see its x100 growth periods on the time graph, so the involvement of users into the world of crypto trading increases day after day.
When Bitcoin was at the very beginning of its wat, its infrastructure was weak and poor. Nevertheless, the demand on exchange, trading, buying and selling cryptocurrency grew up with time and led to multiple services appearing to simplify different actions and operations with Bitcoins.
Today, the person owning cryptocurrencies have multiple ways to choose about how to cash out their coins. In this article, we will mention the main threads to withdraw cryptocurrencies.
Ways to Cash Out Bitcoin: Three Main Alternatives
As for today, the most popular ways to cash out bitcoin are:
See more details on them below.
The Bitcoin withdrawal through cryptocurrency stocks is the oldest way to exchange your coins to other currencies. Its relevance remains quite high due to various reasons, and the most part of users still prefers stocks as their main threads to cash out crypto.
The sequence of actions to take for crypto exchange via stocks is relatively simple:
Stocks suit to withdraw large sums into fiat money. In case you plan to exchange your bitcoins from time to time, the reliable stock is your best choice.
The most popular and reliable crypto stock exchange sites to cash out Bitcoins are:
Online Exchange Platforms
This crypto exchange principle has been gaining its popularity rapidly within recent times. The high availability of multiple propositions on the market and the simplicity of using them are two main reasons to make it so widespread.
The principle of cryprocoin exchange via online platforms works like the following:
Resuming the points above, the disadvantages of online exchange platforms are the following:
Despite the visible lacks mentioned above, more and more users prefer this way. It happens because of following advantages:
The features of this way to cash out bitcoins suits single-time small sum withdrawals the most.Popular platforms:
Private Deals (P2P)
The third most popular way to cash out bitcoins is the direct exchange between the buyer and the seller.
The order of actions here is maximally simple:
The advantages of this way are:
Still, there are some reasons to be careful as well as discomfort points:
Among the most reliable ways to exchange Bitcoins P2P, the localbitcoins.com service stands out. There, you can find persons willing to buy or sell cryptocurrencies particularly in your country or place the ad as a buyer or seller after the free registration is done.
The company with its headquarters located in Finland offers affordable fees, provides a wide range of payment and withdrawal options, profitable affiliate programs and quick service functioning to every client.
To conclude on P2P exchange, this way is the most flexible one, but it also is the riskiest. Still, if using such reliable services as localbitcoins.com, you get a lot more safety for your funds.
Bitcoin Withdrawal to Bank Cards: Features
The bank card is the most comfortable and relevant thread to cash out bitcoin and other crypto coins. According to different statistics, the number of deals to pay for goods and services with cards is growing immensely. So, let’s discuss special points of using plastic cards.
Unfortunately, regardless of the chosen way to withdraw bitcoins, you’ll need to provide your ID details when loading funds onto the bank card. Of course, this harms your anonymity.
To fix the situation, especially when transferring significant sums, you can use cards of different banks or those of your family members to prevent unnecessary questions and issues.
Also, according to the demands of controlling authorities and laws, banks enforce limitations to the size of a single-time and monthly card withdrawal amounts. This issue can be fixed in the way similar to the previous one.
To lower the chance of losing your funds, you should keep up with the rules same to those when working with credit cards online. Be sure to never send and enter your card’s secret info or pin codes to third-party resources. To withdraw funds, it is enough to provide the card number, the owner’s name and the card’s expiration date sometimes.
Here we mentioned main ways to cash out bitcoins and the critical moments of this operation. We sincerely hope this article was useful and opened some new things to you. They will probably help you avoid mistakes when selling Bitcoin and make the process smooth and fast.