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How to Convert Bitcoins to Cash? A Detailed Guide

08/23/2018
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  • Cryptocurrency
  • trading
  • bitcoin
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Workable Tips on How to Convert Bitcoin to Cash

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.

How to Change Bitcoin to Cash?

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:

  • Bitcoin ATMs. Such ATMs are now available in most large cities all over the world, and they are a superb way of selling your Bitcoins quickly, safely, and at a fair rate. This is a highly convenient option for people getting salaries in Bitcoin and wishing to spend the money at once, while for traders thinking of Bitcoin strategically, it’s not the best choice.
  • Online exchange services. Here, the choice is truly vast, as dozens, if not hundreds, of online exchange platforms, now exist to let their users buy and sell hundreds of cryptocurrencies in real time. Some examples of such platforms include Coinbase, CoinJar, eToro, Kraken, etc.
  • Bitcoin debit cards. Though Bitcoin is still a cryptocurrency not officially recognized by banks, some financial entities issue cards that allow an exchange of Bitcoin for cash. For instance, you can receive a Bitcoin debit card from Monaco or other financial institutions like Bitpay or BCCPay; they have many features identical to bank debit cards.

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?

Converting Bitcoin to Cash in the UK

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.

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LH-CRYPTO is an online service for crypto-traders

LH-CRYPTO is an online service for crypto-traders. The service is available to everyone, except for the citizens of particular countries and several categories of people listed in the License Agreement. LH-CRYPTO is a free software for making conversion operations with CFDs on various financial assets nominated in cryptocurrencies.

The project does not manage funds and does not guarantee profits. The project only offers a service that allows to make conversion operations with cryptocurrencies on a specially configured software.

This website is maintained and supported by the following legal body:

LARSON AND HOLZ IT LTD

All the settlements in this project are processed solely in cryptocurrencies. Conversion operations are processed on the terms of margin trading without a direct supply of underlying assets. According to the generally accepted term, these operations are called operations with OTC (over the counter) CFDs (contracts for difference).

Trading with OTC CFDs involves considerable risks. We recommend you pay the utmost attention to both theory and practice of margin trading before making any of such operations.

The services provided by this project are not available for: reseidents of USA, North Korea, Sudan and Syria.