Topic: Ways to Cashout (Read 585 times)

I wonder on what country OP is. Because there are exchanges that allows walk-in customer to exchange their crypto to cash directly. Just like in Indonesia and South Korea.

My transactions in my cashout is using my wallet like coins.ph.I dont want to transact it in transaferring in a bank it takes time so long before they process it so I transfer it remittances to withdraw it it takes only minutes to process and the charges are not so high but affordable.

This is very good question. I read the answers of others but a lot of you mantioned bank account. Fortunately in my country banks are scared of bitcoin and crypto as all and they do not allow transfer from exchange. Also they (banks) frozen all local exchange bank accounts, so I am looking for an alternative way to cash our. I am looking for payoneer and Payza. They work with bitcoin (or at least it is written that they work). Does someone of you worked with them? What is your opinion of them?

my best way to get then money is cex . io. i personally highly recommended to cex. i have withdraw from that. easy service. but some countries supported. coinbase also a good option. unfortunately this is not supported to our country.

Google if there is local exchange in your country or not as it's the most easiest way to cash out. If there's no local exchange then you have to use localbitcoin to do some peer to peer trading, the fee is a bit high but it's better than nothing. Don't forget to make sure you receive the money before relasing the fund.

hmmm it depends on your country

nake sure to know the fees when you cash out

I have to say, maybe lots people do not agree, the simple way is Coinbase app. Login you coinbase account on PC(rather than smartphone app client), click account-->receive, you will find the wallet address of your account. Transfer you ETH/BTC to this address and cash out. Not that expensive as other people said, believe me.

Localbitcoins is the best way if fiat to crypto is forbidden in your country.

The safest way for me I think is to withdraw your money directly using any bank account or ATM. Localbitcoins is a good way to cashout but there's also a risk in doing so.

There are several ways for cashing out but why would you in the first place if you really believe in crypto and believe that crypto will become as usable as fiat in a few years.

But if you are thinking of cashing out some fiat to spend today, you can either go through OTC means like localbitcoins or sell your coins on local forums or classifieds. This is the best means for cashing out to fiat today. You can often get a premium above the price of the crypto.

I can illustrate why it carries a premium with an example like EOS or NEO.. these are just examples but it applies for any altcoins not sold on coinbase.

For any investors that want to buy into altcoins, they have to first buy BTC or ETH on coinbase or their own fiat-to-crypto exchanges. Then after holding BTC or ETH, they have to go to specific crypto exchange like Binance or kucoin to buy the coins. This is the friction of the crypto world now. But if you offering to sell your crypto like EOS or NEO (or whatever is popular in your country), you can command a slight premium cos you are offering a service of fiat to altcoins without having to first buy BTC or ETH.

If you are selling out on those fiat-crypto-fiat exchanges, you will tend to get less for your coins and there are a lot of transactions costs.
Hence it depends on what matters to you, convenience? go to a exchange to cash out. Or you want a better payout, go sell it OTC.

Of course there are now crypto credit cards which will allow you to use crypto as a means of payment in the real world. That is another method for using your crypto.

I intend to hold much much longer and not sell out to fiat. At least not in the short term. Maybe I will sell to finance my next property though

It is important to actually book some of those profits from time to time. Some of the exchanges will offer an option to exchange to FIAT currency once you have dont that you can send back to your bank account or a money transfer service. A newer option is to use a Crypto Debit card to spend or withdraw from the ATM whenever you like. This option is especially good for smaller amounts and for casual day to day spending.

The way for me to cash out is through P2P and i just post a selling post in a social group and when someone commented or contracted me then we will have a little discussion about the deal and i will just wait if he will agree to the place where we are going to have a meetup and after that then i will just transfer the cryptocurrency if i receive the payment.

If you're from the Philippines, the best way to cash out would be using coinsph app but only for BTC only. If you want to cash it out, First thing you need to do is to convert your alt coins in BTC in exchanges like binance or bittrex then if you're don exchanging them to BTC you can now withdraw it directly to your coins ph wallet. This app will provide you the locations and stores where you can cashout your coin.

It depends on the region you stay you can cash out using local exchanges send bitcoin to lots cal exchange convert to fiat and send it to bank account. Another nice way you can convert into PayPal account it is good way of keeping profit for reinvest.

Yes, this depends on your country, you have to check tax codes of your city.
Earnings money is a good thing, but I think every citizen has to abide by the laws of their country, and I suggest you‘d better to know more those of your friends how then cash out.

There are many ways to cash out, you can trade, you can also withdraw directly, as long as it depends on your country to accept what way.

Just buy things. Earlier this year I bought computer. Now will buy TV. Bitcoin is money. Medium of exchange. So it is easiest thing to spend.   Yes I know my country was and is really ahead, but still it wil be super easy for all to spend your coins.

First of all congratulations for making nice profit even if you are new. If you belong to a country where they did not ban cryptocurrency trading then they may allow bank transfer. One way also is to sell your coins to someone who is interested in your place.

If you in need of money, cash out. If not, don't. Put the profit back to increase your capital fund.

it may depends mate on how you may able to cash it out cause every country has their own local wallet for to be so therefor they can now cash out what they wanted so for example what are may profitable also with you on how you may cash out what you needs for.