Some crypto enthusiasts are in it for the long haul while others may choose to cash out as soon as they make a profit. Figure out which camp you live in and decide whether converting your crypto into cash is the right finance decision for you at this moment. But despite the limitations, converting your crypto to cash has become much easier than it used to be. So no matter what crypto app you prefer, you should be able to quickly convert it to a stack of Benjamins. And while peer-to-peer (P2P) exchanges and Bitcoin ATMs offer anonymity, consider the (potential) high fees and hassles of the process.

Peer-to-peer crypto trading

And to make it easier for you, I’ll also include some helpful images. Depending on how large or small your transaction is may determine which method you use. While technically not cash, converting crypto into gift cards usable practically anywhere is a close compromise.

1. Coinbase has an easy-to-use “buy/sell” button and you can choose which cryptocurrency you want to sell and the amount.
2. Apps like Cash App and PayPal now have built-in crypto exchanges, making it easy to purchase crypto, as well as cash out crypto holdings.
3. First, you’re going to have to accept the market price conversion rate to your local fiat currency.
4. The downside of Bitcoin ATMs is the high fees that most of them charge.
5. Also, if you don’t like the thought of having to wait three days to cash out Bitcoin, you should consider using a peer-to-peer selling platform like Binance P2P or Bybit P2P.

How we make money

Now that you have at least a general idea about how to cash out Bitcoin, let me show you how to do it using a peer-to-peer exchange, Binance P2P. It lets you buy and sell Bitcoin for USD by connecting you with various sellers, vendors, and other merchants. Score based on genuine user reviews & opinions about the crypto exchange. Most financial content is either an echo chamber for the “Already Rich” or a torrent of dubious advice designed only to profit its creators.

Bitcoin ATMs are a physical kiosk — typically located in a gas station or grocery store — that allow you to buy crypto with cash or a digital wallet. While most crypto ATMs allow you to purchase Bitcoin directly, only some of them allow you to sell Bitcoin for cash. If you have read this guide from start to finish, you should now know how to cash out Bitcoin! I’ve shown you two different methods — the crypto exchange way (Binance, but, it works almost the same with Kraken, Coinbase, Kucoin, and any other top-tier exchange), and also the peer-to-peer way. So, P2P selling is relatively safe if you know what you’re doing.

However, you can choose other crypto exchanges if you want to try something different. If you hold Bitcoin or other crypto within Cash App or another money transfer app, you can sell it pretty easily. You will pay a fee within the what is full stack developer key skills required java python app, but it’s usually pretty reasonable. The key with these apps is you need to already hold your crypto within the app, otherwise you can’t cash out. They don’t allow you to transfer outside crypto into the app for selling.

Selling Bitcoin on Cryptocurrency Exchanges

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. Many crypto exchanges charge high fees if you use their simple “sell my crypto” option. Coinbase, for example, charges $0.99 when selling under $10 worth of crypto (which makes it nearly a 10% fee), and around 1.50% for larger what caused bitcoin to rise transactions when selling through their platform. The only way around this is to use the “Advanced Trade” platform on Coinbase to sell your crypto, with fees as low as 0.60%. Popular crypto exchanges are always a good bet, as they are reliable and well-known, while online platforms with peer-to-peer selling may allow for flexibility of payment.

Turning Bitcoin into cash may seem simple, but there are a few things you’ll want to consider before cashing out your crypto wallet. With all the volatility in the crypto market, it’s easy to want to sell when things are looking grim. But if you sell when the markets are down, the opportunity cost may be huge. Today, Coinme is excited to announce the addition of over 22,000 ATM locations where users can instantly pick up cash for their crypto. Selling crypto for cash has never been easier or more convenient. Below, we’ll walk you through each bitcoin cash out method so you can decide which one is right for you.

How to Sell Bitcoin

Load the card from your BitPay Wallet balance or connect to a Coinbase account. You can use the card to pay for things in-store, shop online or even pull cash straight from an ATM. If you want to cash out your crypto, using a centralized exchange, online broker, or money transfer app is a low-fee way to sell, but be aware of the limitations that each app has. Third-party exchanges and fiat gateways typically charge fees from 3% to 5% for converting crypto into cash, which is high.

But if you need cash and don’t want to transfer your Bitcoin to an exchange, this is a decent option. With an online peer-to-peer trade, you can sell cryptocurrency online in exchange for dollars. These transactions are often facilitated by an exchange, and Binance runs a well-known online peer-to-peer platform called Binance P2P. Once you check the transaction record in the payment account and make sure you have received the can i get my money back from a crypto scam money from the buyer, Binance will release the crypto to the buyer on the platform. The catch with the best online brokers is that these platforms don’t allow you to transfer crypto into the brokerage.