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this site contains affiliate links, and we may be compensated if you make a purchase after clicking on the links. So you own bitcoin, and you’re ready to turn it into cash? Luckily, now that bitcoin (BTC) has been around for over 10 years, the industry has caught up, coin providing several great options for converting bitcoins into cash, which we’ll discuss in this article. For the U.S., the average time for money to reach your account is about 4-6 days but it varies by country. It’s simple, easy, and secure, but it’s not the fastest method.

Coinbase is the most popular broker exchange for buying and selling bitcoin. To make sure brokers do not break money laundering laws, you will need to withdraw to the same bank account that you deposited with. Any associated fees also depend on the country that your bank is located in. The steps: Sign up and complete the verification process. As of writing, there are over 4990+ crypto ATMs across 76 countries and you can use the website Coin ATM Radar to find a bitcoin or other cryptocurrency ATM near you.

Keep in mind that not all machines are the same, and this method is only suitable for small transactions because most ATM machines have deposit and coin withdrawal limits The biggest drawback of using a bitcoin ATM is its high transaction fee, which typically ranges between 7-12%. This is the easiest method if you want to sell bitcoin and withdraw the resulting cash directly to a bank account. Each card is powered by either VISA or Mastercard, which means that they work for both online and offline shopping at most businesses anywhere in the world.

Bitcoin Debit Cards: Several websites allow you to sell bitcoin and receive a prepaid debit card in exchange, allowing you to use it like a regular debit card. Deposit (or buy) BTC into your account Cash-out your BTC to fiat via bank transfer or PayPal (applicable to some services) Bitcoin ATMs: Unlike traditional ATMs where you can withdraw currency from a bank account, eth a bitcoin ATM is a physical center that allows you to buy or sell bitcoins with fiat money.

Sell bitcoin on a cryptocurrency exchange, such as Coinbase or Kraken. These include: Cash deposit: You can ask the buyer to deposit cash into your bank account. Peer-to-Peer Transactions: eth For a quicker, coin more anonymous method, you can use a peer-to-peer platform to sell bitcoin for cash. Bank Transfer: You can ask the buyer to send you a bank transfer payment (you can even use PayPal).