Another reason is when the market is in decline. If you think the price of bitcoin is going to keep sinking and you want to protect yourself from losses, it makes sense to convert bitcoin to cash while you wait for the bitcoin price to recover. A peer-to-peer platform like LocalBitcoins serves more than 1. LocalBitcoins is free to use unless you create an advertisement for selling your bitcoins, then there is a small percentage fee charged. Before you convert all of your BTC to a bank account, keep in mind the following pitfalls associated with converting bitcoin to cash:.
At 12 years of age, Bitcoin still dominates the cryptocurrency world. Learn what Bitcoin is and how it has become a focal point for high-risk investors. Bitcoin platforms are growing in numbers. Learn how to set up a bitcoin checking account to gain the advantages of purchasing and trading bitcoin. Looking for a bitcoin-friendly bank? Ready to convert bitcoin to cash? Learn the different bitcoin cash out options, services to help you, and how to choose the best method for you.
Advertiser Disclosure. You can either exchange it for a fiat currency e. Create an account and send the BCH from your digital wallet into the web wallet on your cryptocurrency exchange account. Follow the instructions provided by the exchange to sell your BCH through their platform. The exchange will then buy your BCH and send payment in your chosen currency to your bank account, minus the fee that they charge for this service. Through a trading platform You can also sell the BCH in your digital wallet through a peer-to-peer trading platform, such as Local.
This can include in-person cash payments or online payments such as bank transfers. Fees are significantly lower on these trading platforms, meaning you get to keep more of the money you earn. Was this helpful? Related guides What you need to know when choosing the exchange: fees, rules, limits How to Choose the Best Bitcoin Exchange Learn more. Bitcoin security How can I keep my Bitcoin more secure?
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