Bitcoin and all cryptocurrencies in general have generated interest in society because they represent a great investment opportunity, as well as a method for making purchases and payments online, and even saving. In addition, this type of currency is promising due to the high prices it reaches in the market. Although this year the Bitcoin price tends to decline but overall, Bitcoin price is still in a “very high price range” compared to when it was first launched.
In this way, many of the people who have cryptocurrencies want to transform them into cash in order to use their resources easily, since many establishments still do not accept this payment method. If you also want to convert your cryptocurrencies to cash, here we tell you what methods are available to do so:
What To Do Before Exchanging Your Bitcoin For Cash…
The first step before exchanging your Bitcoins for “real” money is to calculate what your cryptocurrencies are worth in relation to the currency you want to exchange them for. That is why we recommend using a calculator that converts your digital currencies to your currency and allows you to know the exact amount you want to withdraw.
Use The P2P Method
One of the easiest ways to transform digital money into cash is by using the P2P (peer to peer) method. To use this method you must enter a regulated platform that will put you in contact with another person who wants to buy bitcoins and deposit the money in the currency you want.
If you want to use this method, make sure that the association you are joining is reliable and is supported by legal institutions.
Go to a Cryptocurrency Exchange House
In many countries, there are exchange houses to buy or sell Bitcoin and other cryptocurrencies. For example, Centralized Exchanges (CEX) are specialized platforms to carry out this type of transaction with digital currencies in exchange for Mexican pesos or transfers. Thus, through these CEX you will be able to program automatic exchanges with specialized cryptocurrency trading desks.
These companies also offer in many cases cryptocurrency loans, leverage and other financing related to digital currencies. Some of the most prominent are:
- StormGain
- CoinEx
- bitso
- LocalBitcoins
- Taurus
- Paxful
- Binance
Most of these exchange houses work with transfers to the national currency, so later you will have to make a cash withdrawal directly with your bank.
ATMs to Exchange Your Bitcoin for Cash
In addition to these methods, there are companies that have created ATMs for Bitcoin and other cryptocurrencies. Although it is more difficult to obtain cash by this means, since there are few ATMs in our country. In these ATMs, users can deposit their purchases in cryptocurrencies, sell crypto assets and receive the equivalent amount of their Bitcoin in cash in their personal account.
Thus it can be concluded that Bitcoin exchange is not something difficult anymore today. There are many facilities for it and every one of them can be accessed easily by anyone.