Bitcoin holders that are 18 years and older can sell their BTC on a cryptocurrency exchange. They will need to complete a verification process to confirm their identity before selling Bitcoin to cash. This makes Binance the cheapest way to convert Bitcoin to cash using its no-fee trading platform. The fourth option is to cash out your Bitcoin at a Bitcoin ATM, which is the equivalent of selling your Bitcoin, says California Bitcoin ATM company Hermes Bitcoin. Bitcoin ATMs are a way to get immediate access to cash using your bitcoins.
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Many retail businesses are now accepting Bitcoin (and select other crypto) to make purchases. Bitcoin ATMs are popping up everywhere, with tens of thousands of them located around the world. Bitcoin ATMs are a physical kiosk — typically located in a gas station or grocery store — that allow you to buy crypto with cash or a digital wallet. While most crypto ATMs allow you to purchase Bitcoin directly, only some of them allow you to sell Bitcoin for cash. These services are not the ‘holes in the wall’ you’re probably used to.
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- Our team will review your request, verify your information, and contact you with the next steps.
- You can also do a direct trade, selling your cryptocurrency directly to another person.
- Additionally, this website may earn affiliate fees from advertising and links.
- To get cash for your coins via an exchange, you’ll need to sign up, get verified, and deposit BTC.
- An alternative route to sell BTC on Binance is the Peer-to-Peer (P2P) platform.
However, the most popular option for selling Bitcoin is to use a central trading platform like Binance to convert crypto to regular fiat. To demonstrate, here is a full guide on how to sell Bitcoin on Binance. The cost of selling Bitcoin on Coinbase is dependent on the order size. The exchange charges a flat fee on all Bitcoin sell orders up to $200.
Sell Bitcoin to fiat currency
Coinbase, for example, charges $0.99 when selling under $10 worth of crypto (which makes it nearly a 10% fee), and around 1.50% for larger transactions when selling through their platform. The only way around this is to use the “Advanced Trade” platform on Coinbase to sell your crypto, with fees as low as 0.60%. Investors can trade their BTC using the Sell option on the Coinbase website or mobile.
Crypto markets have been hammered amid a sell-off of risk assets stoked by U.S. President Donald Trump’s “reciprocal tariffs” on countries across the world. Bitcoin traded below the $77,000 mark on over the last week, but on Wednesday spiked above $82,000 as Trump dropped levies to 10% for 90 days for most countries to allow for trade negotiations.
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- For instance, Binance charges 3.9% for debit card withdrawals which is higher than other supported payment methods.
- Some exchanges do not allow the conversion or selling of some cryptos to dollars, so you’ll need to take an indirect route to get your cash.
- Purchasing with Bitcoin requires sending Bitcoin to the retailer’s digital wallet.
- For specific information about a cryptocurrency exchange or trading platform please visit that provider’s website.
- With access to hundreds of coins, multiple supported fiat currencies, and low trading fees, exchanges offer the most flexibility when cashing out your crypto.
- This way, the exchange’s rating system can show other sellers which potential buyers are to be trusted (or not) during future transactions.
However, newbie traders who want to quickly convert Bitcoin to traditional money should find it straightforward to use the Binance Convert feature. For more information on the security and fees, read our full Binance review. It is the largest crypto platform by trading volume, available in more than 100 countries, which makes it highly accessible to individuals around the world. Its users can sell BTC directly for fiat via the trading exchange or a single ‘Convert’ feature to quickly and safely swap between currencies. One of the easiest ways to cash out your cryptocurrency or Bitcoin is to use a centralized exchange such as Coinbase. Coinbase has an easy-to-use “buy/sell” button, and you can choose which cryptocurrency you want to sell and the amount.
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Providing you consider applicable fees and any taxes you may need to declare, why not convert to cash? Alternatively, you may wish to continue riding the waves – it’s crunch time. While there are many different ways to invest in Bitcoin and crypto online, what’s the most convenient way to redeem as cash? Enter the desired quantity of BTC to swap for GBP and click on the ‘Sell BTC’ button to execute the trade. The equivalent amount would be converted to GBP and deposited in the ‘Fiat and Spot’ wallet. With the introduction of spot Bitcoin ETFs in 2024, investors have a simple way to buy and sell Bitcoin using a familiar structure.
In order to make a cash withdrawal and sell your Bitcoin from the ATM, the machine provides a QR code to which you send your Bitcoin. If you already have a brokerage account, the best route is to stick with the broker you’re already using, or open a new account, which usually only takes a matter of minutes. If you’re a client of Robinhood or Webull, for example, both of which allow extensive crypto trading, then it will be easiest for you to just execute a trade on their platform and be done with it. If you’re going to sell any crypto, you’ll want to know your options and how to do so.
Bitcoin kiosks and tellers, powered by Coinme, are fca bans the sale of crypto a great example, as they’re mostly located in the entrances of major supermarket chain locations. Most crypto-to-cash fees are reasonable, plus they let you conduct transactions worth thousands of dollars. It’s one thing to know you want to convert your bitcoin to cash, but it’s another to know how to cash out bitcoin. Sure, there are several cashout methods, but depending on your situation, each one’s structure, fees, and cashout timeframes might be either a burden or a boon.
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To do this, go to the ‘Trade’ menu option and select ‘BTC’ with the preferred trading pair. Also, keep in mind that some crypto exchanges only operate in certain states due to strict rules and regulations. Bitcoin ATMs are specialized machines allowing for both purchase and sale of crypto. While they offer instant cash-outs, fees can be higher than other methods. You bought low, hodl’d and azure cloud engineer jobs now are ready to enjoy some of your crypto gains. In addition to paying with crypto directly, cashing out Bitcoin or other cryptocurrencies is something every crypto holder should know about.
Peer-to-Peer (P2P) exchanges
You will pay a fee within the app, but it’s usually pretty reasonable. The key with these apps is you need to already hold your crypto within the app, otherwise you can’t cash out. They don’t allow you to transfer outside crypto into the app for selling.
It features an extremely easy-to-use platform that is highly available with competitive fees and numerous withdrawal methods to cash out securely. Cryptocurrencies have seen a broad rise in prices over the past few years — despite the volatility that has kicked off 2025 — leaving some traders with solid gains. Some crypto holders may be looking for ways to cash in on market enthusiasm by selling their digital assets, while others may be simply looking to get off the rollercoaster. Yes, converting Bitcoin to cash may have tax implications depending on your jurisdiction. In many countries, including the United States, the sale of Bitcoin is subject to capital gains tax.
If you are just starting out learning crypto, it makes sense to overview what to expect. In this guide, we’ll take a look at different ways through which you can move your Bitcoin assets into physical money. Selling Bitcoin can be taxable depending on the location of the investor.
You can sell your bitcoin directly on online exchanges, which facilitates the transaction between you and the cryptocurrency market. To use an online exchange, register for the service that most appeals to you, connect a bank account, and then wait for your information to be verified. Then, before selling, you can transfer any bitcoin you currently own to your exchange account via a bitcoin wallet address. Sellers have the ability to set their own rates and can choose from more than 400 payment options, such as cash, gift cards or other digital currencies. Clients can sell directly to over 14 million users worldwide, according to the platform’s website.