vCryptocurrency is becoming quite popular in the world of online transactions in which you can invest and transfer money. But after you’ve accumulated a certain amount of digital currency, a question comes to mind: How do you convert cryptocurrency into cash? Let’s solve this question. Below we have explained with the help of an easy step-by-step process how you can transfer your cryptocurrency to real money.
How Can You Convert Your Cryptocurrency to Cash: In 3 methods
- Using Crypto Exchange:
Create an Account: If you want to convert cryptocurrency into cash then you will have to find a trusted crypto exchange platform. After that you will have to register on it and create your account.
Deposit cryptocurrency: After verifying your account, you will have to add your cryptocurrency to your exchange wallet.
Noted: In this you have to send crypto from your personal wallet to exchange your wallet.
Trade your crypto for fiat: Once your cryptocurrency arrives in your exchange wallet, you can convert cryptocurrency to cash by placing a sell order. By choosing the fiat currency of your choice, you can sell as much crypto as you want.
Withdraw your money: After selling your crypto, your fiat money will be transferred to your account on exchange. After that you can withdraw it from your bank account.
Pros
Easy to Use:Through this process you can easily convert cryptocurrency into real money because it is convenient and very easy.
Safe transaction: There is transaction privacy on these exchange platforms so that users can do safe transactions.
- Peer-to-Peer Exchange
If you want to convert your cryptocurrency into money using another method without the help of a centralized exchange, you can do so through peer-to-peer. On this platform you can sell your cryptocurrencies directly to another person.
Create an Account: Localbitcoins, Binance P2P, or Paxful allows to conduct P2P transactions. In this you will have to create an account and go through the identity verification process.
Find Buyer to Sell your Crypto: After creating an account, you can search for people who want to buy crypto, to whom you can sell your crypto at your set price and convert it into money. By using any transfer method.
Transaction for Crypto: When a buyer is ready to purchase your cryptocurrency, the P2P platform holds that cryptocurrency until the buyer pays for it. When the buyer’s payment is confirmed, the platform releases the crypto.
Pros
Easy payment method: In this you get many types of payment methods. So you won’t have any problem in selling and buying cryptocurrencies.
Good pricing: You can see the good price here compared to any other centralized platform.
Privacy: Compared to centralized exchanges, cryptocurrency and transaction privacy is available here.
3.Bitcoin ATM Exchange:
Note: This bitcoin ATMs is not available in India.
With the help of a Bitcoin ATM, anyone can buy and sell Bitcoin at any time with the help of cash and debit cards. And you can interact with the Bitcoin network even without a centralized exchange.
Search Bitcoin: With the help of the search engine you can know which bitcoin ATM is near you.
Verify your identity: Some Bitcoin ATMs require user identity verification, which requires your phone number and ID card. But this requires checking which area you live in.
Buying Bitcoin: After verification, deposit cash in the ATM machine, then scan the QR of your Bitcoin wallet. After that the ATM machine will automatically create a new wallet address for you.
Selling Bitcoin: To buy bitcoins, put your bitcoins in the address option of the ATM machine, then you will get the return in cash through the ATM machine.
Pros
Easy and Fast: Bitcoin ATMs provide the easiest and fastest way to buy and sell Bitcoins.
Good Privacy: Most Bitcoin ATMs require far less verification and offer more privacy than centralized exchanges.
Best Crypto Exchange in India to Convert Crypto Into Cash
The easiest and most common way. You can transfer your cryptocurrency to real money by using a good and trusted platform.
Binance: Binance exchange is one of the best crypto exchange platforms. It is most famous in altcoin trading.
<
b>Coinbase: Coinbase app considered the best app for crypto exchange trading whose interface is user-friendly.
CoinSwich: CoinSwitch Exchange App is a best opportunity for investors where more than 100 cryptocurrencies can be bought.
Final thoughts
Converting Cryptocurrency to Cash is an easy straightforward process with various options to choose from depending on your needs, convenience, and security preferences. Whether you use an exchange platform, ATMs, or P2P platform to convert your crypto into cash, they all have their own advantages and disadvantages. Be mindful of transaction fees, security concerns, and withdrawal limits and choose a method that aligns with your financial goals and expertise.With all this planning and research, you can successfully convert digital currency into real money.
About The Author