If you're giving a thought to spending Bitcoin for buying daily items or to make the most out of it when the price is high, it is important to know how to cash out Bitcoin to fiat currency. Fiat money is a local currency issued by a government as a medium of exchange. It is normal paper money (USD, AUD, INR, JPY, and EURO) that we use to buy goods and services in our day-to-day life. The phrase cash-out is termed as the process of converting Bitcoin to cash. Even if you're holding crypto and not intending to sell off at this moment, it is still necessary to understand the best method to turn Bitcoin into Cash (euros, dollars, or whatever fiat currency you prefer). Every crypto newbie wants to know how to cash out bitcoin or withdraw from bitcoins into fiat currency instantly.
In this blog, I'll outline a variety of different ways you can convert Bitcoin to USD, JPY, AUD, EURO, CHF, MYR, and other government-issued fiat currency. At the end of this article, you'll be able to decide which method is best for you to exchange Bitcoin for fiat money.
Cash Out Bitcoin using Crypto to Fiat Converter
One of the most common ways to buy and sell cryptocurrency is through crypto to fiat converter platforms. These online exchanges are websites that allow you to convert Bitcoin into cash and then withdraw money to a bank account. Broadly speaking, there are two kinds of crypto exchanges. Some platforms are expensive and require you to undergo a KYC (Know Your Customer) process to create an account. It means if you're selling bitcoins for the first time, then it may take several days to get started with these sites. Normally the transaction fee ranges between 2.5 to 5% of the total trade size. However, not all exchanges accept crypto for fiat and vice versa and are available everywhere. Before signing up on any exchange, you need to look at reputation, availability, rates, user-friendliness, customer support, supported cryptocurrencies, and trading pairs. The general process involves:
- Sign up and complete the KYC process
- Send BTC into your account
- Cash out your BTC to fiat money
On the other hand, some websites don’t ask for any registration and implicitly hidden charges. They're some sort of instant payout service where you can withdraw bitcoin to cash anonymously. Bitcoinscashout.com and btc-to-usd-converter.com are the best examples that fall in this category. Let's walk through how to trade on these platforms.
Best crypto exchange to cash out Bitcoin in 2021
With the rapid growth of Blockchain technology, more and more crypto players are entering the market. Today, there are more than 10,000 crypto exchanges on the internet. I know how hard it is hard to pick one out of thousands of options. If the anonymous transaction, zero hidden cost, no sign-up, no KYC, and instant payout are your requirements then btc-to-usd-converter.com should be your first choice without a second thought. It is rendering services in more than 150 countries and the customer base has surged to 1.5 million worldwide. The best thing about this is that the Bitcoin currency calculator tool determines the latest market price of Bitcoin in real-time. It means you'll always be able to cash out Bitcoin at the best selling price without any delay and extra charges.
Distinguishing features and Pros
The following are some distinguishing features of the service.
- Wide variety of payment options
- Best selling price
- Reliable and trusted broker
- No signups, No registration
- Anonymous transaction
- Up-to-date exchange rates
- 24/7 support
- Simple user interface
- High-end security
- Global acceptance
How to turn Bitcoin into cash at btc-to-usd-converter.com
The process of converting Bitcoin to cash is super easy and intuitive. The user interface is simple and friendly for starters. With a few simple clicks, you're all set to get cash for your bitcoins in a seamless way.
Follow these steps to turn Bitcoin into cash and then withdraw to a bank account without ID and transaction fee.
- Go to the homepage of btc-to-usd-converter.com.
- Click on the 'Order Now' button to initiate your transaction.
- Now you'll see a Bitcoin currency converter tool with a value of 1BTC in the USD (based on your location).
- Provide the amount of Bitcoin in the left cell that you want to convert.
- Now in the right cell, you'll see the total amount of the United States Dollar that you'll get.
- Choose any payment method to get paid (e.g. Bank Wire Transfer, Direct Cash Deposit).
- Provide basic information like A/C holder name, swift code, bank code, and IBAN.
- Click on the 'Order Now' button.
- Now you'll transaction details with a QR code.
- Send the amount of Bitcoin to the wallet address.
- Copy and check all the transaction details for further use.
- Now when done, hit on the 'Confirm' button.
It will take some hours to finally send the money to your bank depending on banking processing time and your location. Congratulations, you've successfully cashed out Bitcoin and transferred funds to your bank account.
How to cash out Bitcoin privately
If you are privacy-conscious then it's important to consider that whenever you are preparing to sell cryptocurrency. Using exchanges that require KYC can reduce your ability to cash out bitcoin privately. If you want to exchange bitcoin anonymously the most reliable exchanges are bitcoinscashout.com and btc-to-usd-converter.com where you can cash out bitcoin to bank without revealing your personal information and KYC documents. The best part is that you can start even with an email address. However, if you're a seasoned trader and there are people in your circle who are crypto enthusiasts then you could also sell them directly. Let's check out how this works.
How to Sell Bitcoin for cash directly
The next option is to sell bitcoins for cash to someone in person. If you’re an active BTC user, you probably have at least one friend who’s willing to buy Bitcoin from you. If yes, then you can make a transaction with each other without bothering about registration and trading charges online. This method is one of the best because your friend will most likely agree. Why? It’s a good opportunity for them to get BTC fast and without fees. When the buyer is available, you can transfer your bitcoins directly into their wallet and can get paid for that. However, there are a few security risks associated with this kind of transaction. A P2P trading platform works in a similar fashion i.e. it brings buyers and sellers of Bitcoin together in one place. The next option is to cash out Bitcoin with prepaid cards.
Bitcoin prepaid cards
Bitcoin Debit cards are new to us and used to convert your bitcoin into fiat currency. These cards make you able to pay at any point of sale service and withdraw Bitcoin to cash at any ATM. This is one of the instant ways to get fiat out of cryptocurrencies. Some of the other benefits include low commissions, free delivery, chip and PIN support, transparent fees, and more. They allow you to deposit crypto coins through an online website which automatically converts them into a fiat currency. The best part is that these cards hold your Bitcoin and make payments everywhere. However, the downside is that these cards are accepted in only a few counties. Some people think that it is one of the best ways of exchanging digital currency for cash, given the wide variety of benefits that they offer. Lastly, If you're able to locate a Bitcoin ATM around you, then it is also an option to cash out on the go.
How to cash out Bitcoin using Bitcoin ATM
Bitcoin ATM is an internet-connected terminal/machine that allows you to buy and sell bitcoins. Bitcoin ATMs are available in most major cities around the world. According to CoinATMRadar.com, the total number of Bitcoin ATMs is 16,500 as of 2021. The bitcoin ATMs provide a relatively fast and easiest way to quickly withdraw funds in your local fiat currency against your bitcoin holdings. However, the transaction charges are relatively huge with these machines. You can locate a nearby Bitcoin ATM using radar services like CoinATMRadar.com etc. If you're in front of any such machine, then the process to cash out Bitcoin with Bitcoin ATM involves the following steps.
- Verify your identity
- Choose “Withdraw Cash” to initiate the cash withdrawal.
- Enter the amount of bitcoin you want to sell.
- Send the bitcoin to the address displayed on the ATM screen.
- Wait for a moment till the ATM completes the transaction.
- After the transaction is confirmed, cash will be dispensed right away.
Well, that is the end of this guide on how to cash out Bitcoin instantly using a variety of available options. For many people who want to ward off the complicated KYC verification process, instant payout services are a good option to convert Bitcoin to fiat currency anonymously and then withdraw to a bank account. Whereas, many seasoned traders who have already account on certain platforms may find those exchanges seamless. There are P2P trading services, Bitcoin ATM, and Bitcoin debit cards to go with. Nowadays, you can turn Bitcoin into gift cards and buy daily things from different stores. What is your go-to method to cash out Bitcoin for fiat money? Let me know in the comment section below.
How much Bitcoin can you cash out from BTC to USD converter?
Well, there are no lower and upper selling limits set. You can get started with any amount of Bitcoin. You can sell a small portion of 1 Bitcoin (Micro Bitcoin) to a huge amount of bitcoin without any additional transaction charges.
How to convert Bitcoin to cash without ID
As mentioned earlier, you can either sell Bitcoin directly to a person in your circle or via any fiat accepting online crypto exchange like btc-to-usd-converter.com or bitcoinscashout.com.
How long it takes to get fiat money to a bank?
The process of converting bitcoin to fiat money is quick and takes some 5-10 minutes. However, it also depends on your location and the banking transaction process time. In general cases, funds get deposited with 1-4 working days.
What are the popular payment methods to cash out Bitcoin?
There is a wide range of payment methods to choose from when cashing out Bitcoin. A bank transfer (SEPA, ACH, and SWIFT) is the most convenient method to turn crypto into cash. Using a credit card is fast but expensive.