Jan 27, · If you’re trying to cash out from an altcoin, you’ll likely have to convert it to BTC or ETH on your exchange of choice before transferring your BTC or ETH to a fiat-to-crypto exchange to cash out. Input the abbreviation or full name of a coin/token to withdraw, or select from the list. Take Bitcoin (BTC) as an example, after confirming the address, copy it into the [Recipient's BTC Address] field, and enter the withdrawal amount. May 12, · Search for the wallet you want to Withdraw from by using the Search box in the upper right. Click "Withdraw" under Holdings. This will bring up the Withdrawal screen. Enter the Recipient Wallet Address and Quantity that you want to Withdraw.
How to withdraw btc from trade coin clubHow to Sell Bitcoin and Cash Out in | CoinCodex
Alongside Coinbase, Bitstamp is one of the most established cryptocurrency exchanges out there — the exchange has been operating since Bitstamp offers fiat-to-crypto trading with no withdrawal limits. Create Bitstamp Account.
The exchange puts an emphasis on safety and compliance, and it is certainly a solid option for when you want to cash out your cryptocurrency.
Create Gemini Account. BitFlyer is a cryptocurrency exchange that was launched in and was originally focused on the Japanese market. Over the years, BitFlyer has expanded its presence and now serves customers in Europe and the United States as well. Create BitFlyer Account. Paxful is a peer-to-peer cryptocurrency marketplace that offers plenty of options when it comes to cashing out from Bitcoin.
You can choose to withdraw the money to your bank account, get it delivered in the form of cash, or sell your Bitcoin for gift cards. You can filter buyers by reputation to only trade with trustworthy users and use an escrow service to prevent fraud. Some traders also offer to buy coins other than Bitcoin, but the liquidity is much lower for other cryptocurrencies than it is for Bitcoin. Create Paxful Account. LocalBitcoins is a household name in the cryptocurrency community, and the platform lets you buy and sell Bitcoin directly with other users.
LocalBitcoins also uses an escrow system to prevent fraud and the platform automatically finds users that are close to you geographically. LocalBitcoins has users from over countries, so almost everyone can find someone to trade with. Create LocalBitcoin Account.
Whether you want to cash out through a traditional cryptocurrency exchange or through a peer-to-peer trade, there is certainly no shortage of options for converting your cryptocurrency into fiat currency. Key highlights: We cover the 5 best exchanges for cashing out cryptocurrency to fiat currency Cash out crypto to USD, EUR or other currencies Peer-to-peer crypto marketplaces are also featured Cryptocurrencies have become a popular asset class among certain investors — even though some crypto assets were designed with the goal of being used as money and displacing the fiat currency system, most people buy cryptocurrency with the intention of realizing profit in terms of fiat currency at a later date.
Coinbase Coinbase is arguably the most popular exchange in the world for exchanges between cryptocurrencies and fiat. Create Coinbase Account 2. Create Kraken Account 3. Bitstamp Alongside Coinbase, Bitstamp is one of the most established cryptocurrency exchanges out there — the exchange has been operating since Before you can withdraw, you need to exchange your Bitcoin to your local currency. Enter the amount of Bitcoin that you wish to sell, and the fiat currency equivalent will update.
Once you click on Sell Bitcoin Instantly , your funds will now be in your fiat currency wallet. Ok, so we are at the final step on how to cash out Bitcoin to your bank account. Your bank account details will already be saved from when you set it up earlier.
Another popular choice for Bitcoin sellers is Kraken! Kraken is another popular exchange that allows fiat currency deposits and withdrawals. It has been around since , and processes the most Bitcoin to Euro transactions. Now that you know how to cash out Bitcoin using a broker, let me show you how to do it using a peer-to-peer exchange. There are a few to choose from, however, the one I most recommend is Local Bitcoins. LocalBitcoins was created in and now supports almost every country in the world.
So, no matter where you are from, you should be able to find buyers to sell your Bitcoin to. The great thing about P2P is that you can request any payment method you want. Here are some examples of the different payment methods available on LocalBitcoins:. Sellers who know how to cash out Bitcoin can also choose the price they would like to sell their Bitcoin for. However, if you sell to a buyer that has listed the price they want to pay, there are no fees.
There is also a rating system like eBay, where you can leave feedback for the buyer or seller. This helps you to remain safe when choosing a buyer.
Local Bitcoins allows you to stay anonymous, too when choosing such payment methods as web money or gift vouchers , especially if you also use a reliable and safe VPN to secure your connection. However, some sellers decide to ask new buyers those who have no feedback to supply identification. First, you will need to open an account at Local Bitcoins. You can do this by clicking here.
Choose a username and a strong password. You also need to enter and confirm your email address. Then you need to choose the country where your ideal buyers are located. I recommend using your own country of course , however, this is up to you. In this example, I have selected the UK. You also need to enter the amount of Bitcoin you wish to sell. In this example, I will show you how to cash out Bitcoin using PayPal. This is a sign of a serious, legitimate buyer.
Confirm the amount of Bitcoin you want to sell and enter your PayPal email address. Then click on Send Trade Request. Your buyer will then receive a notification to say that you would like to sell your Bitcoins to them.
Once they accept, you will then send your Bitcoins to the LocalBitcoins escrow I explained an escrow earlier, remember? So, the buyer will not receive your Bitcoins until they have paid you, and you confirm they have done so. The buyer should contact you to let you know that the funds have been sent.
Check that the funds have arrived in your PayPal, then click on Payment Received , and you're finished. Once you become more experienced with Local Bitcoins , you can practice selling using different payment methods. It is also a good idea to set up an advertisement. In this case, you will receive a notification from buyers when they want to buy from you. LocalBitcoins is just one of the P2P exchanges that allow you to cash out your Bitcoin — there are many others. The important thing to remember is that the exchange has an escrow, and NEVER send your Bitcoin to a buyer before they have paid!
If you have read this guide from start to finish, you should now know how to cash out Bitcoin! We have shown you two different methods — the broker exchange way Coinbase , and also the peer-to-peer way. They both have their advantages and disadvantages. Coinbase can be more convenient and safe for beginners , whilst LocalBitcoins allows you to remain anonymous and sell at a higher price.
So, which did you prefer? Are you going to use a broker for cashing out Bitcoin, or a P2P exchange? We do not publish biased feedback or spam. So if you want to share your experience, opinion or give advice - the scene is yours! Reading up on how to cash out Bitcoin, you'll quickly notice that there are quite a few different ways of going about it. The general opinion, however, is that utilizing a cryptocurrency broker or an exchange is still the best way to go about it.
In general - yes. While cashing out Bitcoin might not always be a good idea at some specific point in time for example, when Bitcoin's prices are low , if you're doing it safely , then you might actually make a pretty decent profit! When I say " safely ", naturally, I'm talking about utilizing a highly-rated crypto exchange , i. Picking out the best crypto exchange for yourself, you should always focus on maintaining a balance between the essential features that all top crypto exchanges should have, and those that are important to you, personally.
That said, many users believe that Coinbase is one of the simpler exchanges on the current market. The exchange platform i. Binance acts as a middleman - it connects you your offer or request with that other person the seller or the buyer. When considering cryptocurrency exchange rankings, though, both of these types of businesses exchanges and brokerages are usually just thrown under the umbrella term - exchange. This is done for the sake of simplicity. No, definitely not!
While some of the top cryptocurrency exchanges are, indeed, based in the United States i. Coinbase or Kraken , there are other very well-known industry leaders that are located all over the world. While there are many reasons for why an exchange would prefer to be based in one location over another, most of them boil down to business intricacies, and usually have no effect on the user of the platform.
Find out right here! By Laura M. All the content on BitDegree. The real context behind every covered topic must always be revealed to the reader. Feel free to contact us if you believe that content is outdated, incomplete, or questionable. Aaron S. By the end of this guide, you will be able to decide which method is best for you.