There’s hardly any other global currency as popular as Bitcoin today. It has beaten even the US dollar in popularity and circulation probably! So, every more or less serious trader has some Bitcoins for sale, and after the exchange rate for this cryptocurrency rose to the skies, the natural question that troubled thousands of people was, “how to cash out Bitcoin?” The world of cryptocurrencies is quite dangerous, with many hackers and scams trying to steal the hard-earned coins or cash of traders. The matters are complicated by the non-tangible nature of Bitcoins, which makes their theft easy and non-traceable. Thus, when you are planning to convert Bitcoin to cash, make sure you follow safety tips and select reliable partners for doing that. Here are some expert recommendations to help you in the process.
So, you have made up your mind to exchange bitcoin for cash. Congrats, you may become rich, as the exchange rate for Bitcoin has been on a steady rise for the past year, and even some negative fluctuations of late 2017 did not shake the traders’ confidence in this cryptocurrency. So, you have all chances to turn bitcoin into cash at a very favorable rate.
The most popular methods of Bitcoin exchange include:
But is that a wise decision to sell Bitcoin right now? That’s up to you to decide, but experts say that Bitcoin is on the rise now, and its rate is going to increase sometime soon. So, if you have not decided yet how to turn bitcoin into cash, maybe it’s wiser not to sell it at all?
Traders living in the UK are also concerned about how to exchange bitcoin for cash, and more specifically, they want to sell bitcoin for GBP. That’s as easy as selling Bitcoin for any other currency. Numerous online trading platforms allow exchanging Bitcoins for GBP, but they all have varying exchange rates, so it’s better to monitor the rate fluctuations and dynamics first, and then decide which platform to join. For instance, the GBP to BTC converter at XE says that the rate constitutes £5,057 for one BTC. At CoinDesk, you can sell one BTC for £5,061, while at CoinMill, one Bitcoin will give you £5,089.5. The difference is not that large, but if you plan to convert Bitcoin to GBP at large quantities, such differences really matter.