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

[decodx]

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.

[BitMaxz]

I usually exchange my crypto through exchanges but since some exchanges added P2P then most of my crypto is exchanged into USDT first on CEXs and then exchanged USDT into fiat through P2P on the same site sample like Binance or OKX.

Another option is to use Exch exchange I've tested this a few times exchange BTC from Exch into USDT in the Ethereum network receive it to my local exchange and exchange it into fiat.

[OmegaStarScream]

I would say Binance P2P if you're from a supported country and have access to the payment methods that are widely used there. You could basically get 1:1 in certain cases (Binance doesn't have any escrow fees). I don't believe that's something you could get when dealing directly with a CEX.

[Coin_trader]

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.

P2P works like magic to me since banks won’t be suspicious on fund transfers on my bank account because I have business which frequently gives me multiple transactions from other people for payment. P2P transactions from crypto makes it looks like a regular business transaction which gives me a space to breath from audit.

Choosing Centralized services is proven hassle when dealing with high amounts since they frequently notify banks about the transaction that it involves crypto which creates problem. I experienced freezing of bank assets just because I received too much fiat from crypto assets which bank doesn’t allow as part of their ToS.

[electronicash]

p2p is the choice. cheaper fees since the existence of the digital wallet of our fiay system. and the exchanges we have today such as binance and kucoin do have p2p options already. if one day those dexes will have p2p, people might just be moving to dexes.

but iff you are to also go into p2p, make sure you know how to spot a scam. there are lots of them trying their way to make money as well.

[Mate2237]

I have used three methods to trade my bitcoin to fiat and the first I use was to convert the bitcoin to fiat straight in remitano. Then transfer the money to my account and withdraw. The the second one I used normal p2p with a well known vendor in my location. I sent him the coins and he paid me as agreed then the third one was the exchange p2p  which is also popular in everywhere. These are the three methods I have use to convert bitcoin to fiat.

And all the three ways the normal peer to peer is the best if you k ow people that can buy your coin directly from your wallet. But it is very difficult to see someone who is trustworthy to buy you coin. And make sure that you received your funds before releasing the coins.

[Stepstowealth]

What method do you find most convenient and cost-effective for converting your crypto holdings to fiat currency? CEXs, P2P, Debit Cards... ?

The government in my country has made us to want to exercise more caution while exchanging crypto to our local currency, they have instructed banks to report account holders who they find to be converting crypto to fiat, so we are usually more careful now if we want to change crypto to naira.

Due to the actions of out government, many exchanges that were very popular like Binance and Kucoin have delisted Naira P2P from their platform. Remitano has become my option because it is still functioning properly. I am careful though of traders I trade with on their platform, because apart from scammers, there are also government officials who have come on to this platform to get people like us who have ignored the government and still go about exchanging crypto to fiat and hiding it from banks by putting a different description in the space provided for what the transaction is for.

[nelson4lov]

Off-ramp methods will differ by country but where I'm from, P2p is the best way to convert crypto to fiat. There are no debit cards that support direct withdrawal of crypto to fiat over here so that's leave P2p as the predominant choice. I don't think any other methods will provide an experience close to, or superior to that of P2P but who knows? We might get something better in the future. Until then, P2p gets the jobs done for me without any hitches.

[Ndabagi01]

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.

Nop, there’s no any and I don’t think the existing one is much of a problem to use that I would want a change to the system of conversion for now. I basically convert by Bitcoin to USDT then to my fiat on p2p platforms on the exchanges. It is very easy and stress free that I wouldn’t want a new change to occur as to how to change my coins to fiat. I have not also seen a better method that I so much believe in like this method, they may be other simpler and stress free way of doing it, but this I find more convenient and trust to use at anytime I wish to.

[batang_bitcoin]

P2P no doubt is the best but the convenience really differs compared to the actual exchange that you'd just sell on the spot and then withdraw it but there's more process to it. The cons of dealing on p2p is if you're always on the go and you've got not that much waiting for the other end to end the deal and make the payment to you. But that's not really a big cons to be worried with. So for those traders that have a great community through their p2p, it's one of the best but it varies from other users that deals directly with centralized exchanges.

[Churchillvv]

I have been using centralised exchanged to trade my bitcoin and/or crypto to fiat, some of the CEXs that I have used in the past are ; binance, bybit, Kucoin, Huobi etc and I have also used one if my favourite DEX which is bisq but I recently stopped for some personal reasons. On all the CEXs I still use the P2P options which recently have been facing regulations in my country.

Since we have been facing regulations in Exchange operating in my country I opted for P2P, which is just with someone I know very well. He sends the fiat directly to my accounts and I send him the coins.

[enwi]

This depends on the policies of your country and depends on the exchange you use. As long as we have a policy that does not make it difficult for the exchange to withdraw money, we can directly use the withdrawal function from the exchange. But if there are policies that make it difficult or direct withdrawals are available then we can use the P2P method.

[Assface16678]

Well, the easiest way to convert fiat to any crypto currency is through P2P, and there are many exchanges offering this kind of service. It's easier than any other option, and the platform I would use is Binance because it is popular for those services and many sellers and buyers are legit on that platform, so rest assured that converting your fiat to crypto or vice versa is secured on Binance. And the good thing is that you could also start this kind of business on Binance, wherein you will become a seller and buyer. In P2P, you just have to be verified and comply with many applications in order to operate; you just need a huge amount of money to start. I know there are other exchanges that offer P2P, but for me, the best is Binance, or maybe just Binance, which is my most comfortable platform. Anyway, it's up to you on what platform you will use; just make sure their P2P is safe.

[logfiles]

To me, it has been P2P, all the way from the time I joined crypto. Never used debit cards or linked my bank accounts to an exchange. With the quick death of "semi P2P" services (like LocalBitcoins, localcryptos, agoradesk etc.) there is going to be need for us to embrace the likes of BisQ. So many people seem not to like it because it involves a bit of technical knowledge, but with the Bisq 2.0 version, things are a little bit simplified, and it loads much quicker than the old version

I think those CEX P2Ps or C2Cs are going to get wiped out just like what happened to localbitcoins, localcryptos.... It's just a matter of time under the ever-increasing law enforcement pressure.

[BlackBoss_]

P2P works like magic to me since banks won’t be suspicious on fund transfers on my bank account because I have business which frequently gives me multiple transactions from other people for payment. P2P transactions from crypto makes it looks like a regular business transaction which gives me a space to breath from audit.

What is the P2P platform you use?

Because some P2P platform can have a template for their users in a bank transfer between two peers. The template can be one of hints that data analysts can look at and it's not easy to detect a common bank transfer template in many transactions.

Does your P2P platform give you a template information to use?

Choosing Centralized services is proven hassle when dealing with high amounts since they frequently notify banks about the transaction that it involves crypto which creates problem. I experienced freezing of bank assets just because I received too much fiat from crypto assets which bank doesn’t allow as part of their ToS.

How did they know you receive your fiat from crypto assets?

I would like to know, but if you think it's secret, I understand if you don't share and I respect your privacy.

[Davidvictorson]

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 use the P2P methods on Centralized exchanges. It is not my most preferred but it is what the government of my country has made it to be because of their regulation on crypto transactions. Very soon, we would need to invent another method to convert our bitcoin to fiat when they ban the remaining centralized exchanges from doing business in my country. However, for the time being P2P on CEXs is preferred because it is done on a system with strict compliance policies from both sellers and buyers. Although there are many scams there, it is not as rampant as it would have been if it were done outside of centralized exchange.

[Strongkored]

Previously used P2P in the local community but obviously, the price would be cheaper than the real price on the exchange but at that time it didn't matter to me because of the speed of transactions with that person until finally it was no longer possible because there were many rule changes so he no longer accepted crypto transactions to fiat, so whether I like it or not I have to change it to CEX, to be honest, it's not a problem moving to CEX because my account has been verified a long time ago and has also been KYCed (which is something I don't like but it's hard to refuse). Both are not a problem for me because I don't experience any problems at all so P2P or CEX are the same

[tsaroz]

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'm using P2P. Not only are they easier than getting it on bank account through some business but I also get better rates. I don't even have to think of calculating about my crypto taxes as I'm getting it on bank as fiat but it's not linked to crypto. In both case I'm getting the money into my bank account, one has more paperworks, more tax and commission while other have less commission. There are people talking about the bad experience they had while doing P2P but I never had that experience as I go only with highly rated traders.

[Mahanton]

I usually exchange my crypto through exchanges but since some exchanges added P2P then most of my crypto is exchanged into USDT first on CEXs and then exchanged USDT into fiat through P2P on the same site sample like Binance or OKX.

Another option is to use Exch exchange I've tested this a few times exchange BTC from Exch into USDT in the Ethereum network receive it to my local exchange and exchange it into fiat.

Yes,ever since i do make or earn money in crypto space then this is what i've been doing on which making up some conversion from any coins Bitcoin and other alts to USDT then making up some
P2P which it would be directly be converted to local fiat on which of course it would really be that corresponding with the current fiat conversion basing up on USD value on which this is really something
that brings up that convenience when you do make up that conversion but of course you wont really be minding about the fees and other converisions on which those people who do make out that p2p
buy and sell rates on which this isnt really that bothering that much. This is the most convenient and the most fastest so far rather than on making up some use with other platforms only offers
bank transfers which it is really that too far on where these exchangers been offering about the versatility and tons of options.

(COINS/TOKENS) -> Sell USDT Pair -> Sell USDT in P2P -> Set Preferred payment account -> FINISH!

[Dr.Bitcoin_Strange]

Well, I use the P2P service on some centralized exchanges like Binance, Bybit, and the like. Most of the time, too, I can find a direct P2P deal with someone in my residential area who wants to get my coin and pay in the required Fiat. It just depends on what is readily available to me. I have the contact information of a few friends who usually like to buy crypto most of the time, so if I want to convert to fiat, I can just chat the dude up on WhatsApp and ask for the rate he will offer to get my coins, and if I am comfortable with the rate he offers, I can just trade with him, but if his rate is lower compared to what I am getting on CEX, I will decline him and use CEX.