Can cryptocurrency be converted to cash?

Let’s say you own a Bitcoin or maybe a part of Bitcoin. Now, you want to convert it into cash. Is it possible? It definitely is. Over time, the cryptocurrency market has grown wildly. There are different exchange platforms where you can exchange cryptocurrency with your native currency.

However, the exchange may be possible with a handful of cryptocurrencies. So, keep this in mind while reading. Here’s how you can convert Bitcoin or cryptocurrency into cash:

Crypto exchange 

First on our list is the crypto exchange. It’s one of the easiest and convenient modes of transfer. Using platforms such as Kraken, Coinbase, etc., you can sell your digital currency and withdraw money from your bank account. How convenient is that?

However, you should know that this transaction may take some time. It depends on which country you live in.

Bitcoin ATM

Using Bitcoin ATMs, you can sell or buy bitcoin using your preferred currency. However, this method is not widely available. In total, there are around 4990 crypto ATMs located in 76 countries. You can check the bitcoin lifestyle for locating a crypto ATM.

Bank transfers or PayPal

Almost every bank across the globe has crypto guidelines. If your bank allows you to transact using Bitcoin, you can cash it out. Otherwise, you can opt for Paypal, which allows its users to send money to their bank accounts. However, you need to check with Paypal as to which cryptocurrencies it supports.

P2P transactions

You can use a P2P platform to sell cryptocurrency in exchange for cash. So, when you sell your crypto/digital currency, you can ask for payment in your desired currency.

Depositing cash

It’s similar to the above, but there’s no P2P platform required. You can sell bitcoin and ask for cash in return. However, you need to display proof of payment first.

The above listed are some reliable methods for turning digital currency into cash. However, always makes sure to check the guidelines if you’re using a special platform.