Topic: What is your preferred method of converting bitcoin (or other crypto) to fiat? - page 3. (Read 309 times)
May 24, 2024, 06:16:15 PM
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.
May 24, 2024, 05:53:38 PM
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.
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.
May 24, 2024, 05:48:51 PM
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.
May 24, 2024, 05:09:55 PM
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.
May 24, 2024, 03:49:29 PM
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.
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.
May 24, 2024, 03:21:32 PM
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.
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May 24, 2024, 03:08:39 PM
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.
May 24, 2024, 03:05:23 PM
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.
May 24, 2024, 03:04:36 PM
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.
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.
May 24, 2024, 02:56:39 PM
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.
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.
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