How to Turn Bitcoin into Real Money?

Bitcoin appears to be the strongest currency in the digital world. However, so far, there are only a few ways to use BTC for payment, as only a few places accept it. Anyone with digital money wonders how to turn Bitcoin into real money.

Bitcoin appears to be the strongest currency in the digital world. However, so far, there are only a few ways to use BTC for payment, as only a few places accept it. Anyone with digital money wonders how to turn Bitcoin into real money.

That is, every owner of Bitcoin need to overcome some small obstacles. Since BTC only exists in the form of data on the blockchain, converting Bitcoin is a big challenge.

How do you turn Bitcoin into real money? Of course, there are a few ways to turn Bitcoin and other cryptocurrencies into cash.

However, a Bitcoin owner cannot simply go to a currency exchange or bank to exchange the cryptocurrency for cash.

Bitcoin conversion only works on the Internet on so-called file sharing networks.

How to Turn Bitcoin into Real Money: Top 3 Ways

Today, there are three ways to buy cryptocurrencies with cash. Unfortunately, this is not as convenient as depositing funds into a bank account.

However, we are sure that there will be more options in the coming years. So how to turn Bitcoin into real money? Let's consider the 3 best ways!

Users can add cryptocurrencies to their wallets by adding multiple credit cards. If you use this credit card, the value of the fiat currency paid will be converted into the existing cryptocurrency.

That part of the money is then simply deducted from the credit. This makes it relatively easy to pay with cryptocurrencies using a credit card.

The so-called Bitcoin ATMs — these machines allow you to withdraw money in case you deposit some amount of bitcoins.

The Bitcoin machine shows a receiving address to which you can send the desired amount in bitcoins.

Then it takes a few minutes and you get cash. Today, there are many Bitcoin ATMs in various countries, you can choose the one that best suits your needs.

Bitcoin in cash through P2P sale — On these platforms, you can exchange ideas with other cryptocurrency owners and then exchange bitcoins for cash.

The user who receives the money simply transfers the bitcoins to the receiving address of a cryptocurrency within minutes.

Quick registration

Local Bitcoins also offers options for purchasing cryptocurrencies via PayPal.

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Essentially, LocalBitcoins is a marketplace for people to post their offers to buy or sell Bitcoin.

As a user, you create a post in which you specify the exchange rate, location, and preferred payment method for a trade.

You can also boost your post as an ad, which will increase your visibility (this is basically how LocalBitcoin makes money).

If someone is interested in your post, they will respond to you and you can both agree to make a trade using a bank transaction, payment service, or any other available method.

How does localbitcoin work?

Unlike centralized exchanges like Coinbase, LocalBitcoins allows you to trade directly with others.

However, the platform is also not fully decentralized as it records and oversees all your transactions made via LocalBitcoins.

When you initiate a trade, the bitcoins traded are held in the LocalBitcoins escrow service. The transaction is completed only when the seller confirms that the deal has been made.

Another crucial aspect of the LocalBitcoins platform is its native reputation system. Chargeback fraud is a common thing in e-commerce, and while Bitcoin transactions are irreversible, traditional payment providers still allow it.

As a result, some people can be tricked into selling their bitcoins and then lose their money. LocalBitcoins' reputation management system allows users to leave feedback for buyers and sellers, which can help you determine if the buyer or seller is legitimate.

As a general rule, it's safer to deal with older accounts with better feedback than it is to settle new, obscure accounts.

Do not choose offers based on price alone — any offer with an unusually low price should be regarded with suspicion unless the trader has fully verified and received a lot of positive feedback.

Also, you can search the LocalBitcoin forum to see if there are any issues related to the seller's username.

In case of conflict between users, LocalBitcoins has a dedicated support team that assists in resolving conflicts.

The LocalBitcoins website is not a masterpiece of design, but it does its job — it lets you discover and post local Bitcoin ads easily.

If you want to buy bitcoins, all you have to do is enter relevant search criteria like location, sum and payment method into the search.

In general, money exchanges are a nice thing. However, due to the current lack of regulation, it is a very difficult topic today.

That's why we prefer to recommend buying cryptocurrencies on an exchange.

In that case, you can better fulfill your obligation to provide evidence. An alternative to cash sales can be an invoice from a seller so that everything is properly documented.

Quick registration

Buy and sell Bitcoin, providing instant and secure transactions.

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How to Turn Bitcoin into Real Money: Bitcoin Exchange

How to turn Bitcoin into real money? There are numerous platforms on the Internet for exchanging cryptocurrencies. But no matter which platform the Bitcoin owner chooses, the switching process always follows the same principle.

  • An account is created and verified on the respective platform, after which you can create your own wallet.
  • The virtual wallet accepts the bitcoins that are being transferred and stores them. That's why you need your own wallet address and the number of bitcoins to transfer.
  • If bitcoins are marked in the wallet, they can be sold on the desired platform. A seller receives a currency of his choice for this.
  • Several options are available for withdrawals from platforms. Payments to a PayPal account and SEPA transfers to a bank account are offered quite frequently.
  • The transfer process usually needs to be confirmed on the blockchain, which means that the transfer from BTC usually takes a certain amount of time.
  • In addition, there are business days until the transfer is credited to an account.

What should you consider when exchanging Bitcoins?

  • The rate. the exchange of bitcoins per dollar is subject to strong fluctuations. It is advisable to wait a while until you have a stable rate.
  • After initial registration, it usually takes a few days for a customer's identity to be verified on the respective platform.
  • Each provider sets individual rates, so conditions should always be checked in advance.
Quick registration

Trade, buy and sell. It is very easy to use and offers over 200 Cryptocurrencies.

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Changelly is among the best exchanges, it is a cryptocurrency exchange platform that allows users to exchange, buy and sell over 200 cryptocurrencies.

With an intuitive and straightforward platform, tools that let you quickly find the best exchange rate, and multiple currency forms and accepted payment methods, Changelly offers a wide range of advantages over its competitors.

While (we'd love to) see Changelly expand their educational offerings and consider adding phone support to their customer service repertoire, the platform is a solid choice for both new and experienced traders.

5 / 5 - (7 votes)

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