Forms of converting cryptocurrencies into cash

[Jacsonikowy]

Just like in subject. How do you converting cryptocurrencies into cash? For example in Poland I can convert in so-called bitcoinmat from page shitcoins.club. I don't know how is it in other countries, so please reply. Thanks

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[Slow death]

You can use these methods:

Exchange Bitcoin (BTC) to Visa/MasterCard

Exchange Bitcoin (BTC) to PayPal USD

I exchange with this guy:

『LONG TERM SUPPLIER』Theresa bitcoins buy/sell shop『ba/PP/WU/MG/Wechat/Alipay』

[iv4n]

I do not doubt that there are many ways  of convertation. But the OP is asking which one we use, so, I'm going to tell about mine. I simply use an exchanger which works with my national fiat and after send this money to fiat online wallet and from there to my bank's account. That's the whole story.

[okala]

In the cryptocurrency currency world the conversion of bitcoin to cash is call the exchange, with this means cryptocurrency as a currency can be exchange to another currency through the means of exchange and using it value to the dollars and other currencies on the exchange market rate. And through p2p method and using the bitcoin ATM's.

[alyssa85]

Just like in subject. How do you converting cryptocurrencies into cash? For example in Poland I can convert in so-called bitcoinmat from page shitcoins.club. I don't know how is it in other countries, so please reply. Thanks

You can buy gift cards which you then use to buy groceries and stuff.

[Yakamoto]

Just like in subject. How do you converting cryptocurrencies into cash? For example in Poland I can convert in so-called bitcoinmat from page shitcoins.club. I don't know how is it in other countries, so please reply. Thanks

Most of the time, exchanges operate as the main way of converting Bitcoins into cash (and vice versa). In Canada, we do have some Bitcoin ATMs, but they're pretty spaced out across the country and cities usually only have one if any at all. Most people in Canada used to use Quadrigacx, but since that shut down the open marketshare for exchanges has grown considerably. I'm personally looking for a new exchange, as I too used to use Quadriga.

For some countries, there are no exchanges present and thus the only way that they can convert Bitcoin into cash is through websites like localbitcoins, or maybe using whatever other similar online marketplaces they have. You could probably even find something like that on craigslist if you looked hard enough.

[enhu]

Like  your country we do have our own 3rd party. Philippines has more than one but the popular is the coins.ph, they do have options to send the cash to you bank account or money transfer services. They even allow us to withdraw cardless transaction on ATMs. This company made it very convenient for us.

[passwordnow]

I did some p2p transaction before with my friends who became interested with bitcoin last all time high and I thought that it would last longer, when they asked me if they can buy directly bitcoin from with small amounts. Usually the method that I use for converting crypto into cash is through exchanger like the other posts. Some probably are doing this through localbitcoins.

[rizkyhiw]

The most widely used way is to convert through exchanges that support each country's currency because usually every country has an exchange that supports that currency, there are many ways you can convert Bitcoin into cash, now it's not the most contrasting, not as it used to when Bitcoin is at the lowest point where there is no hype like now, it is very good if there are Bitcoin ATMs in some developed countries.

[avikz]

Just like in subject. How do you converting cryptocurrencies into cash? For example in Poland I can convert in so-called bitcoinmat from page shitcoins.club. I don't know how is it in other countries, so please reply. Thanks

Try to use p2p trading and I assure you that you will not look for other options again. Visit localbitcoins platform and register yourself. It's a Finland based p2p trading platform but available in majority of the countries. Find a good trader based on their reputation and open a trade request. Receive money in your bank account and release your bitcoins. It's that easy! However, this platform only supports bitcoin!

[Kemarit]

Like  your country we do have our own 3rd party. Philippines has more than one but the popular is the coins.ph, they do have options to send the cash to you bank account or money transfer services. They even allow us to withdraw cardless transaction on ATMs. This company made it very convenient for us.

This one. Coins.ph really did a good job converting our Bitcoin to PHP and it's really convenient because there are lots of methods to use. You can even deposit it to your bank account. But if you don't have a bank account, you can simply exchange it using any remittance center here in the country. Of course there are fees involved, but they didn't charge that big, we are just lucky having this kind of services in the Philippines.

[alyssa85]

Like  your country we do have our own 3rd party. Philippines has more than one but the popular is the coins.ph, they do have options to send the cash to you bank account or money transfer services. They even allow us to withdraw cardless transaction on ATMs. This company made it very convenient for us.

This one. Coins.ph really did a good job converting our Bitcoin to PHP and it's really convenient because there are lots of methods to use. You can even deposit it to your bank account. But if you don't have a bank account, you can simply exchange it using any remittance center here in the country. Of course there are fees involved, but they didn't charge that big, we are just lucky having this kind of services in the Philippines.

What is Coins.ph's market share in the remittence market? And are they still using bitcoin or have they switched to other coins to save on fees?

[Airbuxf]

F2F or BTC ATMs are fastest way. But if you want to sell BTC and you have BTC ATM near you and it accepts also DASH, ETH or LTC etc. use alts because confirmation of transaction is much faster. For example in shitcoins.club they accept BTC, Dash and LTC, and transaction is confirmed bz them if there are 6 confirmations in network, for BTC it's min. 1 hour, for LTC or Dash it's min. 15 minutes (my longest waiting was like 27 minutes).

[NeuroticFish]

The last methods I've used were Bitstamp (and send to Revolut card), bitcoinromania.ro (and send to my bank account) and Wirex Card.
And of course, whenever the start align correctly (meaning if I have Bitcoin and the shop also accepts Bitcoin) I buy directly with Bitcoin.

[Lucius]

~snip~

You can use the method you described, crypto ATMs are one of the easiest ways to convert crypto to fiat (no KYC, instant payment), but they usually have the highest fees. If you want to save some money on fees and to stay anonymous then you need to find someone for live person to person transaction. In that case there is a risk of being robbed, or even taken for the purpose of ransom.

One more way to convert crypto to fiat is to buy things directly with crypto, and then sell for cash. It can be quite a simple way if you have some stores in your country which accept bitcoin or some other crypto currencies as a means of payment. Since you are from Poland check for Coinquista and Bitclude, they got green light for different ways of doing business with crypto.

[ramesh770]

I use localbitcoins.com site where the user is directly selling and buying bitcoins. I just place sell order on the price i see and the buyer pay directly to my bank account and then i release the coins. This is the simple way of converting bitcoin to cash.

[Ucy]

I usually convert via  local exchanges that don't require KYC  or other related documents. But there is never true privacy on such exchanges.
Global Peer-to-peer exchanges like Localbitcoin and paxful are other ways to make transfer.  I don't use both exchanges anymore but you can still try them out if you are OK with their Terms.

[moynul2050]

I was used to using one of the exchangers owned by one of the blockchain experts in my country of origin.
their exchanger provides crypto currency exchanges on our FIAT currency, although not all altcoin listings on this exchanger but I can exchange it for bitcoin, ethereum, litecoin, ripple, ignis, stellar, bitcoin cash and some other altcoins on FIAT currency and so on can be transferred to my bank account.

[BCNews]

Hello, you can normally use a crypto visa with a bank account behind, like wirex or Bitwala. Once you have the cryptos there, you only have to change it for FIAT money. You can even request a visa card and use it in a normal cash-machine. Depending the country where you are located, you could be in problems if you have a huge amount of cryptos. Good luck.

[The Sceptical Chymist]

You can buy gift cards which you then use to buy groceries and stuff.

Yeah, but that's an indirect and weak way to do it.  In the US, there's Coinbase and that's the only exchange that's reliable for btc-->fiat conversions, though I think Poloniex does it and is based here as well.  I've never used Polo for that purpose, so I can't say for sure. 

I haven't said this in a long time, but I still miss Circle and how easy it was to buy and sell bitcoin through them.  There really needs to be another service like that.  Ever since they stopped dealing in bitcoin I've used this forum to sell bitcoin on, and that's it.  I'm kind of surprised that nobody else has stepped up to fill their shoes.