Crypto is quickly becoming one of the most popular kinds of currency out there, with an estimated 300 million crypto users across the globe.
But many of you might be wondering what the point of it all is if you can’t exchange crypto for cash. Well, we’re here to tell you that you can do exactly that!
Keep reading to find out how.
How Can I Exchange Crypto for Cash?
There are three main ways you can get some cash for your crypto. They each have pros and cons, so you can decide which one is right for you.
Bitcoin ATMs
Bitcoin ATMs are by far the fastest way to exchange crypto for cash, and they can be found all over the world. Basically, these ATMs are kiosks that connect the customer to a currency exchange, allowing for cash to be taken out in exchange for cryptocurrency.
While convenient, these kiosks can charge high transaction fees, which may be something to bear in mind depending on how much cash you’re trying to get for your crypto.
With the popularity of cryptocurrency, you’re probably closer than you think to your nearest Bitcoin ATM. Visit one today to exchange crypto for cash.
Exchange or Broker
This method allows you to deposit your crypto through a digital marketplace and sell it for cold, hard cash. The money is then deposited back into the account you made the deposit from.
The one drawback with this method is the time it takes for the money to get to your account. It can take nearly a week for your money to get to you. Plus, there’s a conversion fee from crypto to cash, which can vary depending on the exchange you use.
Peer-to-Peer Platforms
These platforms cut out the middleman of a digital marketplace, allowing for fast exchange between buyer and seller. Great if you’re in a hurry to sell your crypto, but there are definite security risks with this method.
Peer-to-peer platforms also often have a smaller transaction fee, so you can get more for what you sell. But fraudsters know their way around these platforms well, so make sure you ask for proof of ID before you start selling.
So, What’s the Best Crypto to Buy?
The most important part of buying crypto is selling it. How much a cryptocurrency will be able to be sold for should impact your decision on which ones to buy.
Of course, it is difficult to predict this. After all, no one could have predicted just how much Bitcoin would be worth after just a few short years on the market.
But there is no shortage of research out there on the most worthwhile crypto investments, so if you search around, you’re sure to find the one that’s right for you.
Crypto Is Only Going to Get Bigger and Better
These are currently the most secure ways to exchange crypto for cash, but the future is coming fast and more methods may soon be available.
Bitcoin ATMs, peer-to-peer platforms, and exchanges are all growing just as fast as cryptocurrency itself. So, make sure you check back soon for more ways on how you can get some cash for your crypto.