Questions Technology

How to convert bitcoin into cash?

Airtract

Vicky Sen

Do more of what makes you happy

We are all witnessing some of the greatest advancements in the spheres of science and economics from the past few decades. One of the most popular advancements in the financial sphere is the use of cryptocurrency, and during the last few years, their popularity increased tremendously. 

Most of us know about Bitcoins. They are a purely electronic currency, and since the concept of Bitcoin is just new, selected individuals (Businessmen/companies)accept payment in the form of Bitcoin. So to use Bitcoin for all sorts of transactions, it becomes essential to exchange Bitcoins with fiat currencies like Dollars, Euros, Pounds, etc.

  • Using Cryptocurrency Exchange
    Probably the easiest way to exchange Bitcoins with fiat currencies is through a Cryptocurrency Exchange. Some of the popular cryptocurrency exchange providers are as follows:

  • Use of Bitcoin ATMs
    Major cities around the globe are equipped with Bitcoin ATMs, which allows the user to buy or spend their Bitcoins easily. But there are a few drawbacks of this method. Firstly, the fees charged at the ATMs are usually higher than any of the online services, and secondly, the conversion rate of these ATMs are usually very low.

  • Use of Cryptocurrency Debit Cards
    Another easy way of using your Bitcoins for the transaction is by using a Cryptocurrency Debit card. You can use the Cryptocurrency Debit card for paying any bills, just like any other Debit Cards. Some of the widely used cryptocurrency debit cards include Bitpay, Monaco, BCCpay, CoinJar.

  • Using LocalBitcoins
    LocalBitcoins is a P2P Bitcoin exchange platform with clients from over 248 countries around the globe. In this website, the buyer and the seller deal directly, without the involvement of third parties. The user can sell their bitcoins to the potential buyers and receive payments via Paypal, SEPA, cash, bank deposits, etc. LocalBitcoins is one of the most convenient ways of converting your bitcoins into fiat currencies.

  • Converting Bitcoins into USDT (Tether)
    By converting your Bitcoins into USTD digital fiat, you can avoid all the burdens of tax liabilities for a considerable period of time. Using USDT, you will avoid all the tax that is usually imposed when you move cash repeatedly in and out from your bank.
    Some of the widely supported Cryptocurrency platforms which support USDT are mentioned below.

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