How Do I Cash out Bitcoin?
There are many queries in the mind of crypto trade beginner about the transfer of money from digital wallet and digital currency. Everyone has some bitcoin in their wallet of exchanges. So, they have a doubt that how do I cash out bitcoin? To resolve it, we will give you deep knowledge about how do I cash out bitcoin? Or how to convert bitcoin into cash.
Options to cash out Bitcoin
There are many options to cash out bitcoin. There are many countries, like USA, which are providing ATM card by which you can cash out your bitcoin from any Bitcoin ATM. But there is a glitch that only 5% of Bitcoin ATM allowed you to cash out your bitcoin. Remaining 95% allow you to purchase bitcoin.
The users who are living far from these ATMs and living in the countries which do not have any Bitcoin ATM. For those users the question how do I cash out bitcoin? Remain as it is.
For those users there is an option of digital wallet apps or exchanges. This is the easiest and fastest way to sell your Bitcoin without any charges. But if you are trading on these exchanges then you have to give some charges as per their guidelines.
How to Cash Out your Bitcoin ATM (less than $25000)
- First, download Coin Cloud wallet app and open it.
- Then searches for the nearest Coin Cloud ATMs.
- Then selects “Quick Cash” under your closest machine.
- Get an option of filling identifier code, which is send to registered phone.
- On screen you will get the Sell Limit of that machine. Then click “Start.”
- Now, enter the amount in USD, which should be the multiple of $20 and $100.
- Confirms your amount by choosing “Proceed.”
- Now, there will an option of selecting the wallet from which you are selling, also enter your wallet address if it is not displaying on the screen.
- Wait for 10-15 minute while your transaction is carrying on. Here your cash can be reserved up to 48 hours.
- You can dispense your cash, now. For that you have to login with your phone number.
How to Cash Out your Bitcoin (More than $25000)
If you want to cash out bitcoin more than $25000 or from wallet. BTM do not allow to cash out Bitcoin more than $25000. So, for this you have to do online transaction from the wallet of exchanges.
There you will have option to sell your bitcoin and get USD and INR or other wanted currencies in your wallet. Which you can transfer to your account. From there you can get cash by normal ATM or bank.
Before selecting any exchange, one should take care that the exchange is applicable for their country or not. There are many exchanges present online, you can do transaction from any one of them. For getting the knowledge about exchange you can go through our blog of “Best Crypto App for Trading.”
This is how one can cash out their Bitcoin without any issue. For more updates related to tech stuff, stay tuned with us on DeSoft Technology.