Do you want to cash out your bitcoins? Is it time to make a profit and convert your bitcoins into traditional accounts? Read on to find out how to cash out bitcoin to euro and get real money.
Slowly but surely, everyone is getting carried away with the new idea of Bitcoin. And the most frequently asked question is still – have you invested in Bitcoin?
And why not, given that it is better than gold and traditional fiat currency, not to mention that it is in limited supply and subject to various economic laws that also suggest its future growth? It is natural for it to grow in value over time, no matter what the pundits say, and when it must inevitably grow in value; the obvious question is how to make your profit.
To make a profit, you need to sell BTC in exchange for fiat/cash, which is acceptable in their countries. Hence, I think it is appropriate to talk about the questions that come to mind when selling bitcoins for cash.
How to turn bitcoin into cash?
There are several easy ways to convert BTC to USD, Indian Rupees, Euros, or Pounds Sterling, some of which are listed below. However, before choosing any of the above methods, you need to figure out how you want to receive your fiat. You can sell bitcoins in person for cash or sell them on exchanges and receive money directly into your bank account.
You also have the option to spend your bitcoins to buy items on Amazon using services like Lolli or Bitrefill. However, I am assuming that at this point, you want to sell your bitcoins and get the cash in person or directly into your bank account.
Via Fiat Accepting Exchanges
The easiest way is to find out if fiat currencies are accepted in your country. You can then sell your bitcoins to them in exchange for fiat money like US dollars, euros, or pounds sterling or make deal – to buy Rep.
Convert BTC to USDT like digital fiat
If you are in no hurry to convert your BTC to your country’s fiat currency and also want to avoid tax liability for some time, you can convert Bitcoin to USDT (Tether). Using USDT has its advantages over USD or EUR transactions if you plan to buy bitcoins later. Regular receipts and withdrawals of cash from your bank account make you responsible and can increase your taxes.
Also, you don’t have to worry about the volatility of cryptocurrencies when switching to USDT because USDT always maintains parity with real US dollars, maintaining its value of $1 per USDT. It will also reduce your headache of constantly transferring fiat currencies to exchanges because USDT can be used to buy bitcoin later if you want.
Via LocalBitcoins
LocalBitcoins is a bitcoin startup based in Helsinki, Finland, that has been operating since 2012. This is a P2P bitcoin exchange. It has local buyers and sellers in over 15,000 cities in 248 countries. Most likely, you will find a buyer in your country through LocalBitcoins.
The beauty of Localbitcoins is that you deal directly with the buyer and can receive money in any supported formats:
- bank deposit;
- PayPal;
- Payoneer;
- cash.
When converting bitcoins to fiat, Localbitcoins is one of the most preferred options for those who don’t want to use an exchange. You can meet buyers/sellers online and complete the transaction offline. You can pay in cash or by bank transfer. You can also choose from other options, such as PayPal or SEPA, or direct bank deposits to convert bitcoins to cash. You can simply filter your country by your desired payment method. Just so you know, all fees here are set by the seller, and LocalBitcoins acts as the escrow manager.