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How to conveniently withdraw cryptocurrencies to fiat money

If you want to cash out crypto using the app, it's easy to do so: just go into your crypto account and hit 'Exchange' to convert your balance.

You can sell cryptocurrency in several ways: through a seller on a peer-to-peer service, directly on a crypto exchange, or through a crypto exchange. Each option has its advantages and disadvantages. Let’s Exchange experts tell you how to exchange tezos to usd quickly, safely, and profitably.

Peering Service

P2P platforms usually act as intermediaries between buyers and sellers and as guarantors. It’s like a bulletin board: the seller posts their terms, the buyer chooses the seller, they negotiate the terms, and they close the deal. Extensive services say that they check both buyers and sellers and guarantee the safety of the operation. However, it is with P2P transactions that scammers are most common. Every time you choose a seller, you must be aware of the risks you are taking. Carefully study the guarantees that the site promises. For example, how is the issue resolved if the other party does not fulfill its obligations and disappears? But first of all, analyze whether you can trust the platform itself.

Withdrawal directly from the exchange

This option is available for users of sizeable centralized crypto exchanges that provide the possibility of deposits and withdrawals in several fiat currencies, for example, US dollars, euros, hryvnias, and rubles. In addition, this creates additional difficulties for the exchange not only in the form of new partners but also in bringing the terms of use and systems of the exchange in line with the laws of different countries. It seems that this increases the security of transactions but increases the risk of blocking. When withdrawing funds from a centralized exchange to a bank card, there is a risk of transaction cancellation because due to strict regulations in certain countries and the uncertain position of governments in others, banks often refuse to accept funds from crypto exchanges.

For these reasons, many crypto exchanges prefer to operate on a “crypto-to-crypto” model.

If you use an extensive exchange where it is possible to withdraw funds in fiat, pay attention to commissions and limits since it is often more profitable to remove cryptocurrency and then exchange it through an exchanger or a peer-to-peer platform.

Crypto exchange

It is easier to choose an online currency exchanger than a private seller or buyer, at least because such sites usually have a lot of users. You can find reviews on the Internet, study partners, information about the exchanger’s reputation, and conduct a test transaction. Reliable cryptocurrency exchangers publish the terms and conditions of use, which is also essential: the client can study all the nuances to protect himself from unexpected troubles or problems.

When choosing a service for an exchange, pay attention to pages on social networks, communication with clients, the availability of reserves on balance sheets, and openness and transparency of information.

Crypto exchanges offer two options for selling cryptocurrencies: online with the withdrawal of funds to a bank card and offline for cash, for example, electroneum to usd. The first option is suitable for small amounts and everyday transactions. A great example is when the money ran out at the airport. The second one is often chosen for converting large quantities in one transaction and when they do not want to keep funds in bank accounts.

When choosing to sell cryptocurrencies for cash, check the geographic capabilities of the crypto exchanger, as some open representative offices are only in the largest cities.

Also Read: Impact of Cryptocurrency on the Online Casino Industry

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