What is the most foolproof way to turn Bitcoin to cash?

There are several different methods you can use to convert your Bitcoins to fiat currency. When deciding which method to use, it’s important to consider a variety of factors, including speed, cost, and safety.

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Use a Bitcoin ATM

One of the most straightforward approaches to cashing out Bitcoin is to use a Bitcoin ATM. According to Coin ATM Radar, there are over 4,000 Bitcoin ATMs in the United States alone, with the majority of them located in major urban areas. You can use a Bitcoin ATM to purchase bitcoins or to sell them in exchange for cash or funds transferred to your debit card.

While Bitcoin ATMs may have the advantage of speed and convenience, it’s important to keep in mind that many of them involve additional fees, which can get pricey. Bitcoin ATMs may also have daily limits when it comes to buying and selling and may offer a less favorable exchange rate than other venues. You can use Coin ATM Radar to find the Bitcoin ATM nearest you, as well as to find Bitcoin ATMs with low or no fees.

Sell on a Cryptocurrency Exchange

Cryptocurrency exchanges are sites where you can sell cryptocurrencies in exchange for other cryptocurrencies or for fiat currency. You can use cryptocurrency exchanges to convert your bitcoins into money that is then deposited directly into your bank account.

There are a variety of different popular cryptocurrency exchange platforms currently in use, including Coinbase, CoinJar, Kraken, and more. Keep in mind that many cryptocurrency platforms require you to make a purchase with the same bank account that you use to withdraw funds.

• Coinbase — Coinbase is one of the most popular cryptocurrency exchange programs in the world. The platform is user-friendly, with reasonable fees.
• CoinJar — Coinjar is another popular cryptocurrency exchange platform. They offer convenient payment methods and a free e-wallet in which to store Bitcoin and other cryptocurrencies.
• Bitbuy — Based in Canada, Bitbuy allows Canadians to buy and sell cryptocurrency on a convenient, dependable, and secure platform. While Bitbuy is currently only available to Canadian citizens, they offer an easy-to-use platform with low fees and great customer service.
• ChangeNOW — ChangeNOW is an instant cryptocurrency exchange platform. It doesn’t require user registration and supports over 170 different cryptocurrencies, making it a fast and flexible option for those looking to buy or sell.
• Kraken — Founded in 2011, Kraken is another popular cryptocurrency exchange platform. While their interface is more complicated than some other platforms, they offer low fees and excellent customer support.

Selling on a P2P Exchange

If you’d like, you can directly sell Bitcoin to interested buyers using a P2P exchange. P2P exchanges allow individuals to buy and sell Bitcoin directly from one another. Unlike Bitcoin ATMs and cryptocurrency exchanges, P2P exchanges often involve only minor trading fees.

While P2P exchanges are generally safe, it’s important to do your homework and make sure to deal with only reputable buyers and sellers. Depending on the platform, you can receive payments in the form of cash, MoneyGram, or even gift cards. There are a variety of popular P2P exchange platforms, including Bitsquare, LocalCoinSwap, PAXFUL, and more.