Deposit bitcoins into your account; Cash-out your bitcoins to fiat through bank transfer. Bitcoin ATM and debit cards. Bitcoin ATMs are physical locations that allow you to buy and sell bitcoins for fiat currency. There are more than 4,000 crypto ATMs across the world. With Coin ATM Radar, you can search for crypto ATMs near you. So if we want to convert $5 worth of bitcoin into Bitcoin Cash, we will end up with $4.95 in BCH. Many Bitcoin ATMs let you buy Bitcoin in much the same way that you deposit money at a regular ATM Turn Bitcoin into Cash Using a Peer-to-Peer Exchange. Think of a Bitcoin ATM as a cash to zazzle bitcoin Bitcoin converter.
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- How To Turn Cash Into Bitcoin
Did you know that experts speculate that Bitcoin could potentially replace fiat currencies like U.S. dollars in the near future? This means that someday, you could use bitcoin for any purchase. Then, fiat currencies will no longer be essential, or at least they will cease to be the primary payment method.
However, for now, only a few individuals or businesses accept payment in bitcoin, so many people still want to convert their bitcoin into cash. This way, you can use your bitcoin to buy or pay for what you need.
Four Ways You Can Cash Out Your Bitcoin
Before you head out to cash out your crypto, here are some things you need to take into consideration:
- The cost and ease of the conversion method
- Where you want the money to be deposited (e-wallet or a bank account)
- Which currency you wish to convert your bitcoin into
- How fast you want to receive your cash
There are other things you can consider outside the ones listed above. Only after studying these things should you attempt to exchange your bitcoin into cash. In this article, we will show you four ways to convert your bitcoin into cash.
1. Cryptocurrency Exchanges
These are third-party exchanges that allow you to sell your bitcoin for fiat currencies through their website or mobile apps. You can do this in four easy steps:
- Find an exchange that supports your country and currency
- Register and complete the verification process
- Deposit bitcoin into your account
- Withdraw your crypto to fiat currency through e-wallets or direct bank transfer.
Cryptocurrency exchanges are generally safe and secure. However, they are not the fastest means of getting your money. Also, some countries are restricted from some platforms.
2. Peer-to-Peer Platforms
Compared to crypto exchanges, peer-to-peer platforms provide a quicker and more anonymous method of converting bitcoin into cash. P2P platforms link up buyers with sellers for transactions. With those, you can choose whichever available way you wish to receive a cash payment.
Note, however, that you will also need to go through a verification process. Also, some platforms charge transaction fees. For instance, buying and selling on LocalBitcoins is free, but posting ads will cost you 1% of the bitcoin traded.
3. Direct Sales
This is probably the fastest means of exchanging your bitcoin for cash as it involves you selling your crypto to another person without going through an exchange or a peer-to-peer platform. A direct exchange is usually performed between friends and family.
To sell, all you have to do is scan the QR code, send the bitcoin to their bitcoin wallet address, and get paid in cash. However, it may not be safe to do this sort of transaction with a stranger. You can't be sure that they'll fulfill their end of the deal. So, it's safer to go through P2P platforms or third-party exchanges.
4. Bitcoin ATMs and Debit Cards
Bitcoin ATM is a very convenient way to convert bitcoin into cash. Note, however, that not all bitcoin ATMs dispense fiat currencies. Some allow you to withdraw only bitcoins, while others only allow for fiat currencies. Yet, some offer bidirectional service – you can withdraw cash or bitcoins from them. However, they charge high transaction fees.
With bitcoin debit cards, you can buy and pay for anything offline or online. Plus, you can withdraw cash at any ATM worldwide, as long as they support Visa or MasterCard. You can load your bitcoin on these cards and convert it into any currency of your choice.
Conclusion
If you're looking to spend your bitcoin, converting it into cash is one of the many options. Also, you can add to the amount of bitcoin you have. Try day trading, or you can gamble with it – you just might get lucky. Nowadays, there are many trading platforms and online casinos that accept bitcoin as payment.
Whatever your needs are, you can still find a way to convert your bitcoin to cash. Besides, the options will continue to expand as more companies and individuals come to accept bitcoin and cryptocurrencies in general.
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The price of bitcoin rises and falls, and sometimes you may want to convert bitcoin into other digital currencies like Bitcoin Cash.
Bitcoin Cash is currently the #6 digital currency, with a market cap of $3 billion. As mentioned here, it emerged in 2017. The bitcoin community couldn't agree on a solution, so the bitcoin blockchain split, and the result was a new digital currency, Bitcoin Cash.
Last November, Bitcoin Cash itself experienced a split, resulting in yet another digital currency, Bitcoin SV.
Why Buy Bitcoin Cash?
You should always do your own research before making financial/investment decisions, such as converting bitcoin to Bitcoin Cash.
Is Bitcoin Cash a better version of bitcoin?
One advantage Bitcoin Cash holds over bitcoin is lower transaction fees. High transaction fees may discourage people from spending bitcoin.
Turn Money Into Bitcoin
According to BitInfoCharts, the median fee for Bitcoin Cash transactions on March 31 was just $0.0006, while the median fee for bitcoin transactions was $0.299.
However, Bitcoin Cash has not maintained its value as well as bitcoin. The price of Bitcoin Cash (measured in BTC) has fallen from nearly 0.2 BCH/BTC in July 2017 to 0.04 BCH/BTC.
Converting Bitcoin to Bitcoin Cash
Coinbase is one of the world's most popular bitcoin wallets. Coinbase claims over 20 million users.
Coinbase is beginner-friendly. Coinbase offers an easy way to convert between digital currencies for just a 1% transaction fee.
How To Turn Cash Into Bitcoin
Bitcoin Cash has been available on Coinbase since December 2017.
Today we will convert $5 of bitcoin into $4.95 worth of Bitcoin Cash using Coinbase.
How to Convert Bitcoin to Bitcoin Cash, Step by Step
Set up an account on Coinbase. If you don't already have a Coinbase account, sign up for one. You will also need to add a phone number to verify your account.
Turn Bitcoin Into Cash Coinbase
You can then add fiat money by linking your bank account or debit card, and buy bitcoin if you don't already have any.
Once you've signed up and bought bitcoin, tap on the screen where it says 'Bitcoin.'
Next, you will see this.
Scroll down.
Tap on the blue button that says 'Convert' to begin converting bitcoin to Bitcoin Cash.
Although it says 'Convert BTC to another cryptocurrency for no fee', this isn't quite true. Coinbase may not charge you a fee, but it does charge you something called the spread.
The spread is the difference between the bid price and the ask price.
In this case, the spread is 1%.
This will be the next thing you see:
Type in the amount (in fiat currency, such as dollars or euros) of bitcoin that you want to convert.
Remember, Coinbase charges a 1% spread. So if we want to convert $5 worth of bitcoin into Bitcoin Cash, we will end up with $4.95 in BCH.
Next, tap on the blue button that says 'Preview Conversion.'
Tap on 'Preview Conversion'. This will show you the amount of bitcoin (BTC) you will be converting into Bitcoin Cash (BCH).
Then tap on 'Convert now'.
Best Way To Turn Cash Into Bitcoin
After the trade is executed, you will receive a confirmation. It will look like this:
You May Also Like:
The price of bitcoin rises and falls, and sometimes you may want to convert bitcoin into other digital currencies like Bitcoin Cash.
Bitcoin Cash is currently the #6 digital currency, with a market cap of $3 billion. As mentioned here, it emerged in 2017. The bitcoin community couldn't agree on a solution, so the bitcoin blockchain split, and the result was a new digital currency, Bitcoin Cash.
Last November, Bitcoin Cash itself experienced a split, resulting in yet another digital currency, Bitcoin SV.
Why Buy Bitcoin Cash?
You should always do your own research before making financial/investment decisions, such as converting bitcoin to Bitcoin Cash.
Is Bitcoin Cash a better version of bitcoin?
One advantage Bitcoin Cash holds over bitcoin is lower transaction fees. High transaction fees may discourage people from spending bitcoin.
Turn Money Into Bitcoin
According to BitInfoCharts, the median fee for Bitcoin Cash transactions on March 31 was just $0.0006, while the median fee for bitcoin transactions was $0.299.
However, Bitcoin Cash has not maintained its value as well as bitcoin. The price of Bitcoin Cash (measured in BTC) has fallen from nearly 0.2 BCH/BTC in July 2017 to 0.04 BCH/BTC.
Converting Bitcoin to Bitcoin Cash
Coinbase is one of the world's most popular bitcoin wallets. Coinbase claims over 20 million users.
Coinbase is beginner-friendly. Coinbase offers an easy way to convert between digital currencies for just a 1% transaction fee.
How To Turn Cash Into Bitcoin
Bitcoin Cash has been available on Coinbase since December 2017.
Today we will convert $5 of bitcoin into $4.95 worth of Bitcoin Cash using Coinbase.
How to Convert Bitcoin to Bitcoin Cash, Step by Step
Set up an account on Coinbase. If you don't already have a Coinbase account, sign up for one. You will also need to add a phone number to verify your account.
Turn Bitcoin Into Cash Coinbase
You can then add fiat money by linking your bank account or debit card, and buy bitcoin if you don't already have any.
Once you've signed up and bought bitcoin, tap on the screen where it says 'Bitcoin.'
Next, you will see this.
Scroll down.
Tap on the blue button that says 'Convert' to begin converting bitcoin to Bitcoin Cash.
Although it says 'Convert BTC to another cryptocurrency for no fee', this isn't quite true. Coinbase may not charge you a fee, but it does charge you something called the spread.
The spread is the difference between the bid price and the ask price.
In this case, the spread is 1%.
This will be the next thing you see:
Type in the amount (in fiat currency, such as dollars or euros) of bitcoin that you want to convert.
Remember, Coinbase charges a 1% spread. So if we want to convert $5 worth of bitcoin into Bitcoin Cash, we will end up with $4.95 in BCH.
Next, tap on the blue button that says 'Preview Conversion.'
Tap on 'Preview Conversion'. This will show you the amount of bitcoin (BTC) you will be converting into Bitcoin Cash (BCH).
Then tap on 'Convert now'.
Best Way To Turn Cash Into Bitcoin
After the trade is executed, you will receive a confirmation. It will look like this:
Congratulations! You have just completed this transaction.
How To Turn Cash Into Bitcoin
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