How To Convert Bitcoin To Cash – As cryptocurrencies became widespread and yielded high profits, users began to look for ways to turn their Bitcoin into cash.
It is possible to use more than one method to convert Bitcoin to cash. In this article, we will explain in detail how BTC can be converted to cash from the crypto money exchange, cold wallets and conversion services.
How to Convert Bitcoin to Cash on Cryptocurrency Exchange?
To cash out BTC on a crypto exchange, the exchange account must be linked to a bank account and then a “sell cryptocurrencies” transaction. The essential steps in this method are as follows:
First, the investor gains access to his/her own cryptocurrency exchange investment account by defining his/her information from the “user login” tab of the cryptocurrency exchange platform.
- Then, he has to enter the “define a bank account” section of the account he has reached and enter a bank account number in the blank that appears on the screen, and connect the bank account to the virtual wallet.
- After this step, the “sell cryptocurrencies” tab is entered, and the sale order is given by selecting BTC.
- On the virtual wallet reflected on the screen, the “withdraw money” box is clicked.
- In the newly opened window, the bank account image linked to the crypto money investment account is clicked and the withdrawal request is approved.
- At the end of these steps, the fiat money equivalent of the BTC amount is displayed in the bank account. In a classical way, the person obtains this money in cash from an ATM or bank branch with a bank account card.
In general, local cryptocurrency exchanges such as In addition, recently, global cryptocurrency exchanges such as Binance and Huobi have opened accounts banks. Users can withdraw cash to their bank accounts by exchanging crypto from these exchanges.
How to Cash out BTC in Hardware and Desktop Wallet?
Direct cashing out of BTCs stored in hardware or desktop wallets is not possible. However, for this process, BTCs in the hardware or desktop wallet is first transferred to the virtual wallet of the cryptocurrency exchange account.
After these steps, by following the steps of selling and withdrawing BTC from the crypto money exchange account, which we have presented in the previous heading, the fiat money of the BTC displayed in the bank account can be obtained in cash from the account.
As a second method, you can convert the BTC in your hardware wallet into cash through the persons who convert it to cash.
From your hardware wallet, you send the BTC to the person who wants to receive it, and he or she will deliver the cash to you by hand or by wire transfer to your account. There are people on the forums who do these types of transactions for commission.
How to Convert BTC to Cash with Conversion Services?
Services that convert BTC to cash are known as ByWare, MoneyMix, Tetchange, and ChangeAM. The person logs in to the platforms of these services from the internet and fills out the BTC to cash form on the homepage.
In this form, the amount of BTC to be converted, e-mail, and Western Union bank account information is defined and the “send” command is clicked.
Platforms send a link to the person’s email within the same day. When this link is approved after logging in, a transfer is made between the platform and the wallets for the BTC amount in the form.
Then the BTCs go to the converter service company, while the fiat money is transferred to the account of the person who cashed the BTC. This method is not often preferred next to cryptocurrency exchanges.
Withdrawing Cash via Bitcoin ATM
BTC can also be converted into cash via Bitcoin ATMs, which are rapidly becoming widespread in many parts of the world. For this, the closest BTC ATM is selected from the map.
BTC is sent to the ATM in accordance with the procedure to which it is connected. After the BTC transaction is confirmed, the cash amount is withdrawn from the Bitcoin ATM.