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This articlewas originally published at Mintdice.com on June 13, 2019. It is being republished here with the publisher’s permission through syndication.

• How To Cash Out My Bitcoin In Coinbase
• How To Cash Out My Bitcoin To Usd From Exodus
• How To Cash Out My Bitcoin From Coinbase
• Convert Bitcoin To Money

Bitcoin Cash: An Overview. Since its inception, there have been questions surrounding bitcoin’s ability to scale effectively. Transactions involving the digital currency bitcoin are.

Although it’s safe to say that Bitcoin is a lot more popular today than it was even one year ago, it hasn’t reached a significant level of adoption compared to fiat money. Even though several products and blockchain projects have been built around it, Bitcoin has continuously shown that it cannot be used as a stable form of money.

You can’t withdraw your bitcoin into bank account directly. We can send your bitcoins withdrawn dollars into your bank account. Now a days bitcoin to bank account is suitable option for all the people who want to cash out bitcoin through exchanges. Check out live cryptocurrency rates on our cutting-edge financial platform. See the value of Bitcoin Cash in USD and other popular fiat and cryptocurrencies.

This has led to regulatory problems, issues with banks, and ultimately, lack of acceptance by businesses. What good is money if it can’t be spent on the simplest exchanges of goods and services? As a result, it’s quite common to convert Bitcoin assets into fiat currency to be used for purchasing items.

Bitcoin has also proven that it can be a great trade and investment vehicle, but it also can be a terrible one. So if a user holds Bitcoin and there’s an impending decline in the market, it’s reasonable to liquidate BTC by converting it to cash.

WHAT ARE THE MAIN METHODS OF CASHING OUT BITCOIN?

There are four main methods of cashing out Bitcoin for fiat currency. They include peer-to-peer exchange, third-party broker exchange, Bitcoin ATM, or bitcoin debit card.

1. PEER-TO-PEER EXCHANGE

Peer-to-peer exchanges connect Bitcoin users and match them according to their buy and sell orders so that they can carry out the exchange by themselves. For example, if Person A is looking to sell Bitcoin at $7,000 per unit and person B is looking to buy some at a similar price, the exchange matches them and they carry out the transaction without the interference of the exchange.

Cashing out Bitcoin via a peer-to-peer exchange is great for users who want to avoid the prices set by centralized exchanges. It also helps them avoid the charges and long waiting time that accompanies cashing out with broker exchanges.

There are three ways to accept cash on a P2P exchange: through a cash deposit, bank transfer or in-person. Cash deposits and bank transfers are generally safe but it is advisable to request a proof of identity to avoid fraud. Arranging a meet-up is a great option because there’s no need for an escrow.

HOW TO CASH OUT BITCOIN ON A PEER-TO-PEER EXCHANGE

• Register on a P2P exchange and set a price to sell Bitcoin
• Wait for the exchange to match a buyer
• Contact the buyer and make arrangements for payment through a cash deposit, bank transfer or physical cash
• Put the Bitcoins in escrow until the payment is received
• Release the Bitcoins to the buyer

Pros

• It is fast compared to a third-party broker exchange
• It has fewer charges
• It gives users total control over who they transact with

Cons

• It is less secure than a centralized broker exchange.

Some existing peer-to-peer exchanges include Paxful and Localcoinswap, which have no charges, and Localbitcoins, which has a trading fee of 1%.

2. THIRD-PARTY BROKER EXCHANGE

Third-party broker exchanges, or centralized cryptocurrency exchanges as they are commonly called, handle the entire exchange of Bitcoin for cash. For example, on a platform like Binance or Coinbase, a user can enter a buy request and be automatically matched to another sell order. The exchange handles the sale itself with additional charges as part of the service.

This method is ideal for anyone who would rather not deal with others when buying or selling. The exchange is also liable in the event of theft or fraud that occurs on their platform. So if a user’s Bitcoin exchange account is compromised, their funds will most likely be replaced. It is also the best option for those who want to withdraw cash directly to their accounts after a Bitcoin exchange.

HOW TO CASH OUT BITCOIN USING A THIRD-PARTY BROKER EXCHANGE

• Research the best exchanges and choose the best one based on a personal set of requirements
• Register for an exchange account
• Deposit Bitcoin into the exchange account wallet
• Place a sell order

Pros

• It is more secure and less stressful than peer-to-peer exchanges

How To Cash Out My Bitcoin In Coinbase

Cons

• Exchanges have more control over user funds
• Slow withdrawal times. For example, a cash withdrawal on Coinbase takes anywhere between 1 and 5 days to complete.

Some good third-party exchanges are Kraken, Binance, Coinbase, Bitfinnex, and Poloniex.

3. BITCOIN ATM

A Bitcoin ATM allows anyone to buy or sell bitcoin using a credit card or cash. It looks just like a regular ATM, except that it isn’t tied to a bank account. Currently, there are more than 2000 Bitcoin ATMs spread around the world. This is a good way to cash out without dealing with stress from Bitcoin exchanges.

It is straightforward and secure, and allows a person to withdraw cash or Bitcoin without dealing with another party. Bitcoin ATMs vary by operation and some available types include Genesis1 Bitcoin ATM, Satoshi1 Bitcoin ATM, Lamassu Bitcoin ATM, and BitAccess Bitcoin ATM.

HOW TO CASH OUT USING A BITCOIN ATM

• First, locate the nearest Bitcoin ATM by visiting Coinatmradar, a site that shows a live map of functional BTC ATMs
• On the ATM, choose the cash withdrawal option
• When asked for a currency choice, pick Bitcoin
• Choose the withdrawal amount
• Send BTC from a mobile wallet to the QR code provided by the ATM.
• Collect cash

Pros

• It is secure
• The process of using a Bitcoin ATM is more straightforward than using an exchange
• No registration needed

Cons

• Bitcoin ATMs are static and cannot be used without being physically at the machine
• They are not common, especially in developing countries

Bitcoin ATMs are usually found inside restaurants, shops, retail stores, airports, or malls.

4. BITCOIN DEBIT CARD

A Bitcoin debit card allows a user to withdraw cash instantly even when it’s loaded with Bitcoin. One great example is the CEX.io debit card, which is linked to the CEX.io exchange. This a good way to cash out Bitcoins when there are more traditional ATMs than Bitcoin ATMs around.

HOW TO USE A BITCOIN DEBIT CARD

• Search for crypto debit card providers like Uquid
• Register for a debit card
• Add the card to the preferred exchange wallet
• Either sell Bitcoin on the exchange and withdraw the cash to the debit card or send Bitcoin directly to it
• Withdraw cash using the card at a normal ATM

Pros

• It is a better option than Bitcoin ATMs for developing countries
• Most card providers offer instant withdrawal

Cons

• Fees can be as high as $3 per withdrawal
• An Exchange account is needed most times

Some of the best Bitcoin debit card providers include Wirex, Cryptopay, Bitpay, and Uquid.

FINAL THOUGHTS

When dealing with Bitcoin, users will need to cash out at some point. Whether due to a fall in price, the need to convert crypto investments into traditional ones, or just the need to spend cash instead of BTC, the need always arises.

Centralized cryptocurrency exchanges are currently the most common way to convert any cryptocurrency to cash. In fact, they are usually the starting point for beginners. They have significantly less risk than P2P exchanges and are also easier to use. Bitcoin ATMs and debit cards are not as common but are also easy, safe ways to cash out Bitcoin.

It’s important to weigh the pros and cons of each before choosing any of these options. Ultimately, they have the same outcome but depending on a user’s location, and other preferences, they are all drastically different.

More on this topic: BUYING BITCOIN WITH PAYPAL: HARDER THAN IT SOUNDS

Some people kill time at the airport by browsing duty-free shops. I decided to shop for bitcoin.

But first, there are two things you should know about me: I tend to be almost as afraid of losing money investing as I am of flying. On some level, I figured one fear might cancel out the other.

So last Thursday, while waiting for a flight to Nashville, I pulled up a popular application called Coinbase that can be used to buy and sell bitcoin. The virtual currency had hit $10,000 for the first time a couple days earlier, before retreating somewhat. News of bitcoin's rapid rise was everywhere, including on CNN.

How To Cash Out My Bitcoin To Usd From Exodus

For 15 minutes at the airport, I refreshed the price of bitcoin over and over, watching as it gained and lost hundreds of dollars in a matter of minutes. I called out the price fluctuations breathlessly to my wife, who gently encouraged me not to be an idiot, before returning to her magazine.

She was in good company. JPMorgan Chase CEO Jamie Dimon recently called bitcoin a 'fraud' and suggested people who buy it are 'stupid.' Warren Buffett called bitcoin a 'mirage' in 2014 and warned investors to 'stay away.'

Are you trading Bitcoin? We want to hear from you.

And yet bitcoin has climbed more than tenfold since Buffett's warning. Earlier this month, one college friend casually told me over drinks he'd made tens of thousands of dollars investing in another cryptocurrency. He said he hoped it would be worth enough one day to buy a house.

How To Cash Out My Bitcoin From Coinbase

When I saw the price of bitcoin fall to $9,500, I pressed buy, defying the wisdom of two finance titans and my wife. One hundred dollars, or 0.0101 bitcoins. (A few days later, I bought another $150.) By the time we got to our hotel, my stake had already gone up 10%. One week later, it was (briefly) up 100%. My wife's opinion of me has reportedly decreased by the same amount.

What is happening?

It's an investing frenzy, plain and simple.

Bitcoin cracked $1,000 on the first day of 2017. By this week, it was up to $12,000, and then it really took off: The price topped $17,000 on some exchanges Thursday, and $18,000 on at least one.Other cryptocurrencies have seen similar spikes, though they trade for much less than bitcoin.

There's a long list of factors people may point to in an attempt to explain this. Regulators have taken a hands-off approach to bitcoin in certain markets. Dozens of new hedge funds have launched this year to trade cryptocurrencies like bitcoin. The Nasdaq and Chicago Mercantile Exchange plan to let investors trade bitcoin futures, which may attract more professional investors.

Convert Bitcoin To Money

Yet a key reason the price of bitcoin keeps going up is, well, because it keeps going up. Small investors like yours truly have a fear of missing out on a chance to get rich quick. And when the value of your bitcoin doubles in a week, as it did for me, it's easy to think you're a genius. But you can get burned assuming it will keep skyrocketing.

Some investors have likened the bitcoin hype to the dot-com bubble. Others, like Dimon, have said it's even 'worse' than the Dutch tulip mania from the 1600s, considered one of the most famous bubbles ever.

As Buffettput it back in 2014, 'the idea that [bitcoin] has some huge intrinsic value is just a joke in my view.' Bitcoin is not backed by a company's earnings, or the strength of a government and rule of law. There's also no interest or dividends.

Why would anyone want or need to use bitcoin?

Bitcoin serves as a new kind of currency for the digital era. It works across international borders and doesn't need to be backed by banks or governments.

Or at least that was the promise when it was created in 2009. The surge and volatility of bitcoin this year may be great for those who invested early, but it undermines bitcoin's viability as a currency.

Right now, I can use my bitcoin holdings to pay for purchases at Overstock(OSTBP), or book a hotel on Expedia(EXPE). But if I use bitcoin to buy $25 worth of socks on Overstock today, and the price of bitcoin quadruples next week, I'll feel like those socks actually cost me $100. Then again, if bitcoin crashes, at least I'll always have the socks.

Rather than a currency, bitcoin is being treated more like an asset, with the hope of reaping great returns in the future.

So is there anything truly valuable about bitcoin?

Yes, the technology behind it.

Bitcoin is built on the blockchain, a public ledger containing all the transaction data from anyone who uses bitcoin. Transactions are added to 'blocks' or the links of code that make up the chain, and each transaction must be recorded on a block.

Even bitcoin critics like Dimon have said they support the use of blockchain technology for tracking payments.

Is there a legal and legitimate way to invest in bitcoin?

Bitcoin exchanges have a checkered history. Mt.Gox, once the largest exchange, shut down in 2014 after losing hundreds of millions of dollars worth of bitcoin after a hack.

Today, the leading exchange is offered by Coinbase, a startup that has raised more than $200 million from a number of top tier venture capital firms. Square(SQ), the payments service, is also rolling out a bitcoin product.

There are also bitcoin ATMs in scattered bodegas and convenience stores around the country, through companies like Coinsource. The ATMs let you exchange bitcoin for cash, or vice versa by scanning a QR code from the digital wallet application on your phone.

With Coinbase, you must first give the app permission to connect to your bank account. As with other stock trading applications, you pay a small fee for each transaction, buying and selling. But the transaction can take significantly longer.

My original $100 bitcoin purchase won't officially be completed on Coinbase until Friday, more than a week after the transaction. The price I bought it at remains the same, but I won't be able to sell at the earliest until Friday.

If the price plummets before then, I'm out of luck. No socks for me.

-- CNN's Selena Larson contributed to this report.