What is your preferred method of converting bitcoin (or other crypto) to fiat?

[hyudien]

I know this question has probably been asked a bunch of times before, but with the ever-changing crypto landscape, I'm curious to hear everyone's latest thoughts.

What method do you find most convenient and cost-effective for converting your crypto holdings to fiat currency? CEXs, P2P, Debit Cards... ? Also curious if any new or up-and-coming techniques are on your radar.

Because my country applies a crypto tax so most of us prefer to withdraw proceeds from Bitcoin via P2P and even then at a rate that is still below the CEX withdrawal fee to Bank account. In my opinion when it comes to withdrawals you really need to calculate at least comparing the costs between P2P and CEX. Although there are several points that I often apply in the withdrawal amount, for example in P2P the most is under $2000, while above that I prefer to use a local exchange, besides being safe because it is regulated and the process is also quite fast. Even though taxes have to be covered, it doesn't matter because I'm a little careful if a withdrawal transaction via P2P is above the specified limit. Undesirable things happen, some of my friends experienced cases of theft.

[el kaka22]

I use my exchange to be fair, it has the option to convert it and I do that as much as I possibly can, that makes it a lot easier for me. I am not saying that we are going to make a lot of money, but we shouldn't really do anything crazy, and we should consider this as normal, without any moral issues as well.

I believe that crypto exchanges are taking a good cut, and they have a big piece, and I understand that putting all that much money into these  exchanges gives them a power that goes against the logic of bitcoin ownership, but none of that matters when the alternative is so bothersome and the exchanges are so easy. This is why I do not get any ethical questions in my mind when I do it, I just do it in a few minutes and I am done.

[goaldigger]

I know this question has probably been asked a bunch of times before, but with the ever-changing crypto landscape, I'm curious to hear everyone's latest thoughts.

What method do you find most convenient and cost-effective for converting your crypto holdings to fiat currency? CEXs, P2P, Debit Cards... ? Also curious if any new or up-and-coming techniques are on your radar.

I do convert crypto using the exchanges or P2P option most of the time and this is more convenient to us since it can also be sent directly to your bank account using our local crypto wallet. You have to explore your local exchanges to know if you have other option because in our local wallet we have a lot of option to convert crypto using a centralized platform. P2P can also be your option, though its more risky especially if you prefer to look for this outside the market.

[Hyphen(-)]

I know this question has probably been asked a bunch of times before, but with the ever-changing crypto landscape, I'm curious to hear everyone's latest thoughts.

What method do you find most convenient and cost-effective for converting your crypto holdings to fiat currency? CEXs, P2P, Debit Cards... ? Also curious if any new or up-and-coming techniques are on your radar.

There are several methods of converting your crypto holdings into your local fiat currencies, and these methods are similar or almost the same for most countries that are yet to accept cryptocurrency and Bitcoin as a legal tender. The CEX p2p method is what I mostly use to sell my crypto into fiat because our government has restricted all crypto transactions across the country.
Physical p2p would have been the best option, but trust and security reasons made it uncomfortable, which is why I prefer to use exchange.

[avikz]

I know this question has probably been asked a bunch of times before, but with the ever-changing crypto landscape, I'm curious to hear everyone's latest thoughts.

What method do you find most convenient and cost-effective for converting your crypto holdings to fiat currency? CEXs, P2P, Debit Cards... ? Also curious if any new or up-and-coming techniques are on your radar.

Peer to peer trading is the most convenient mode for me to convert the cryptocurrency to fiat currency. I mean I have been using it since 2017 and never faced any significant challenge. Yes there are risk factors involved. But if you know how to find a reliable person to trade with, you should not face any challenge.

People need to be very cautious about the pricing being offered. The highest pricing quotation may not be safe every time. Rather look for rating of a trader and the time of the last trade.

[Ben Barubal]

I know this question has probably been asked a bunch of times before, but with the ever-changing crypto landscape, I'm curious to hear everyone's latest thoughts.

What method do you find most convenient and cost-effective for converting your crypto holdings to fiat currency? CEXs, P2P, Debit Cards... ? Also curious if any new or up-and-coming techniques are on your radar.

      To me, p2p is more useful than centralized exchange when it comes to converting crypto from our fiat to an e-wallet or digital bank. Because if it is sent directly to the bank when a large amount is deposited, they will question where the profit came from or the amount of money deposited into their bank.

     After you enter the large amount that they will accept 100%, all of a sudden you will be asked with a mixture of suspicion, which for me is the thickness of the face that we trusted them, and they will still hold your account or ours with them. So you can't blame others who don't trust the bank. So I prefer e-wallets that are related to cryptocurrency.

[boyptc]

Peer to peer trading is the most convenient mode for me to convert the cryptocurrency to fiat currency. I mean I have been using it since 2017 and never faced any significant challenge. Yes there are risk factors involved. But if you know how to find a reliable person to trade with, you should not face any challenge.

I agree, you only need to see some signs if the person you're trading with has got some red flags. But if you've been trading in the p2p for how many years, you'd notice some slight info that shall stop your trade.

And you'd only do this on a reputed p2p platform.

People need to be very cautious about the pricing being offered. The highest pricing quotation may not be safe every time. Rather look for rating of a trader and the time of the last trade.

+

Look at the rates and trading history instead.

[muncuss]

Usually i use p2p in the exchange but if there is no option of it then i can use local platform since fortunately there are some regulated local crypto platform in my country which is actually safer option than p2p in random foreign exchange

[Bobrox]

Usually i use p2p in the exchange but if there is no option of it then i can use local platform since fortunately there are some regulated local crypto platform in my country which is actually safer option than p2p in random foreign exchange

P2P have random foreign exchange and scare after transaction process but not received the money although Binance or other exchange with P2P support can help us but need time waiting for. Instant withdraw all cryptocurrency assets from global exchange not support direct withdraw to Bank by converting with local exchange, I don't know has any country restrict with this feature because my country have allowed for longer time deposit and withdraw cryptocurrency assets to Bank with short term process around five minutes.

I scare when making transacting trough P2P between seller or buyer not get online and we must waiting long term moment how our transaction its complete, better convert with local exchange by deposit our fiat if want buy cryptocurrency or withdraw our crypto to the Bank by converting firstly to local fiat.

[Webetcoins]

Usually i use p2p in the exchange but if there is no option of it then i can use local platform since fortunately there are some regulated local crypto platform in my country which is actually safer option than p2p in random foreign exchange

Pretty interesting to see that there are still people who stick with P2P because this is the oldest method in the book, right? And maybe this is the reason why OP ask a question like this because with the lots of changes we have through the years, I'm sure many people are now using CEX or fiat for withdrawals as banks now legalized cryptos.

If in terms of P2P again, I think that's right that local ones are best to use because you can also do physical meet ups to trade but that's contradicting if they are regulated when P2P stands for decentralization although no doubt that it adds security and confidence to us, so we might still like it that way.