The Best Ways to Convert Bitcoin to Cash

can you transfer your bitcoin to cash

To cash out your funds, you first need to sell your cryptocurrency for cash, then you can either transfer the funds to your bank or buy more crypto. Bitcoin debit cards don't convert Bitcoin into cash, per se. They're more like a bridge between the world of cryptocurrency and the real world. Withdrawal Methods: Coinbase lets you sell Bitcoins for cash, which you can then withdraw. BITCOIN FOR PREPAID VISA

Keep your cryptocurrency stored in a wallet or online service and only convert to money that which you'll need to spend over one of your budget cycles. If you incur an unexpected need for more money, withdraw more coins as cash from a Bitcoin ATM or transfer your crypto to a debit card or bank account. Transferring cryptocurrencies to a bank account through Coinbase or CoinJar can take between one and five days, however, so it's best not to rely on this method to get cash in emergencies.

By Brad Stephenson. Brad Stephenson. He writes about Windows 10, Xbox One, and cryptocurrency. Reviewed by Jon Fisher. Tweet Share Email. Cryptocurrency What Are Bitcoins? Should You Convert Bitcoin to Cash? Was this page helpful? Thanks for letting us know! Email Address Sign up There was an error. Please try again. You're in! Thanks for signing up. There was an error.

Tell us why! Another reason is when the market is in decline. If you think the price of bitcoin is going to keep sinking and you want to protect yourself from losses, it makes sense to convert bitcoin to cash while you wait for the bitcoin price to recover. A peer-to-peer platform like LocalBitcoins serves more than 1. LocalBitcoins is free to use unless you create an advertisement for selling your bitcoins, then there is a small percentage fee charged.

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 Updated February 11, You may also like. Is Cryptocurrency a Good Retirement Investment?

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