Questions about how, where, and under what circumstances it is feasible to rapidly and securely convert cryptocurrencies for traditional currency are particularly important now due to the dramatic increase in interest in cryptocurrencies. Numerous platforms and exchanges offer to acquire bitcoins for money. Meanwhile, refilling from a bank account sometimes does not even incur a commission. This makes sense, given that the goal of the exchange is to draw in as much liquidity as possible. Quite another thing is the reverse exchange of crypto for fiat, which is carried out by crypto fiat exchanges like Emirex. So, where can you sell ETH or bitcoin and get fiat funds?
Three main ways to cash out a cryptocurrency
If you want to quickly and easily sell cryptocurrency and immediately receive money, use one of the three main ways to cash out cryptocurrency:
- Ordinary exchangers. Using network exchangers’ services to convert digital currencies into cash is one of the simplest and most common ways to do it. Pros: good choice of payment systems and lack of registration. The anonymity of exchangers is seen by many users as a benefit since it eliminates the need for verification during the application process.
- Regulated crypto exchanges. There aren’t many trading platforms available that let you deposit cryptocurrency into a card or account. Pros: Virtually no risk and good exchange rate. In order to cash out crypto, you need to pass verification. The exchange rate is typically better than that offered by exchangers since it is based on actual trade with high liquidity. In addition, exchanges work directly with banks and therefore can offer lower fees, while exchangers are forced to use more expensive ways to send funds.
- P2P exchanges. On P2P platforms, you are dealing with private sellers: the site only acts as an intermediary. Pros: variety of offers and payment systems. Anyone who wants to publish their offer on the intermediary site, chooses a convenient payment method and waits for the appearance of a buyer who will be satisfied with the proposed conditions.
What is the best way to cash out cryptocurrency? It all depends on your priorities. If security and a favorable exchange rate are important to you – or you need documentary evidence – then it is worth spending 15 minutes once to verify on a legal exchange, such as Emirex, and subsequently, constantly enjoy all the benefits.
