Crypto investors convert their virtual money into cash regularly for many reasons. For seasoned traders and business people who accept cryptocurrency payments, selling crypto for cash is a normal process. But for newbies, knowing how to convert crypto to cash is very important to avoid making costly mistakes.
As a crypto holder, you probably have heard about crypto exchanges, physical exchanges, crypto ATMs, and other options for exchanging cryptocurrencies. Crypto investors convert their virtual money into cash regularly for many reasons.
How to Convert Crypto to Cash: Sell through a Physical Exchange
Many online exchanges have started opening physical exchange offices that you can find in various spots around the world. These are outlets with employees who help crypto holders to cash out conveniently. They also offer crypto information, making them very efficient for beginners. A good example is NakitCoins in Turkey.
If you do not know how to convert crypto to cash using a physical exchange, you can locate one and ask the attendant to offer directions to you. The biggest benefit of physical exchanges is that they are secure and offer assisted service; hence, they reduce the chances of making costly mistakes.
How to Convert Crypto to Cash: Sell through an Online Exchange
Would you like to know how to convert crypto to cash? Well, this is the most popular option because it is convenient and easy to use. You can access online crypto exchanges on a phone or computer through an app or web platform. Basically, the most popular crypto exchanges in the world such as Binance, Coinbase, LocalBitcoins, Cash App, and others fall under two categories. Regardless, they all charge a commission for their services, which is often affordable to users.
CEX platforms – These are financial companies in the business of exchanging crypto. Hence, they will allow you to convert your crypto to cash instantly, securely, and affordably.
DEX platforms – These are peer-to-peer platforms that are suitable for anyone who is looking for how to convert crypto to cash in a thriving crypto community. For you to sell your crypto coins, you have to get matched with a buyer who is willing to pay in cash.
Sell through Crypto ATMs
Another great option for anyone who is looking for how to convert crypto to cash is to sell through a Bitcoin ATM. This is also a physical outlet that offers convenient crypto exchange to people who do not prefer online exchanges.
A crypto ATM will exchange numerous digital coins such as Bitcoin, Ethereum, and Dogecoin. The good thing is that you will collect your cash instantly after selling. Also, they can send your cash to your bank instantly so that you can shop with your Visa or Mastercard. All you need is to follow simple instructions on the screen and confirm every step to avoid making costly mistakes.
If you did not know how to convert crypto to cash, you now know the possible options. It is important that you check each one carefully and choose the one that suits you best. For many beginners, any of these options will work perfectly. All the best!
Also Read More: How to conveniently withdraw cryptocurrencies to fiat money