The easiest way is to find out fiat accepting exchanges in your country. Some of the exchanges that allow you to do so are listed below. I understand that all the above options might not work globally because the cash system varies from country to country.
LocalBitcoins is a Bitcoin start-up based out of Helsinki, Finland, which has been operating since It is a P2P Bitcoin exchange. It has on-ground buyers and sellers in more than 15, cities across countries. Chances are, you will find a buyer in your country via LocalBitcoins.
The beauty of Localbitcoins is that you dealing with the buyer directly and you can receive money in any of the supported formats bank deposit, PayPal , Payoneer, cash. You can either pay in cash or wire the amount. You can simply filter your country based on the payment mode you want to choose. Just so you know, all the fees here is set by the seller while LocalBitcoins acts as an escrow manager. LocalBitcoin is surely the easiest way for the resident of any country to redeem their Bitcoin for cash.
Moving cash in and out of your bank account regularly might be time consuming. This will also reduce your headache of always transferring in fiat currencies to exchanges to buy Bitcoins because USDT can be used to buy Bitcoins later if you want. Some of these exchanges are listed below.
I have used this feature of intermediate conversion to USDT myself. These are some popular ways of converting your Bitcoins into USD or the respective fiat cash of your country. We will, soon, be coming up with a list of country-wise options for selling and buying Bitcoins, which will make your life easier when exchanging Bitcoins into cash. When you encash your Bitcoins to cash, keep in mind the taxes. You can use a tool like Koinly to calculate tax on your Bitcoin selling profits. This will also help them to get started with Bitcoin, and both of you will save on the transaction middleman fees.
However, this route is taken only by a few, as we have recommended earlier that you should not disclose your Bitcoin investment and Holding to anyone. We intend to start with the below mentioned countries first and also include some third world countries like Somalia, Syria, Iraq, etc. If you want to suggest other names that we should cover, do let us know in the comments section below.
If you found this article informative, please share it with your friends and family who want to know about converting Bitcoins into cash. Harsh Agrawal is the Crypto exchange and bots expert for CoinSutra. He has a background in both finance and technology and holds professional qualifications in Information technology.
After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra. Thank you for the article. I found the concept of purse. Please Add — South Africa. We have a very fast and large growing amount of people getting into the crypto world!
Im so glad I discoverd CoinSutra. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Before you convert all of your BTC to a bank account, keep in mind the following pitfalls associated with converting bitcoin to cash:. Advertiser Disclosure. Banks Editorial Team March 27, Sponsored By. You may also like. If you are curious about what cryptocurrency to buy apart from Bitcoin, learn more about other cryptos to invest in.
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