How to cash out cryptocurrency: 5 main ways to cash virtual money into real money

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Cash out cryptocurrency is not as difficult as it might seem at first glance. Every day there are new services and offers that make the process of cashing out simple and fast. The editorial staff of Btcnewsweb.com will consider the main ways to withdraw cryptocurrency to fiat. Here are the most well-known and reliable methods for converting crypto coins into real money.

You can cash out cryptocurrency into fiat using the following options:

✅  Exchangers. Everything is simple here. We choose a reliable service with the desired direction of exchange, fill out the application form and pay for it. The advantage of exchangers for cashing crypto coins: transactions take several minutes, the average order execution time is 5-10 minutes, depending on the direction and speed of transaction confirmation in the blockchain network; a large number of directions – banks (Sberbank, Tinkoff, Alfa Bank, Privat24 and others), Visa / Mastercard, electronic payment systems (Qiwi, Yandex, Payeer, Advcash, PerfectMoney, Capitalist). Among the disadvantages: the risk of running into scammers, therefore, for the exchange, you should find a reliable exchanger with a decent reputation. The list of crypto exchanges recommended by our site for withdrawing cryptocurrencies: 60cek, Xchange, Prostocash, 365Cash, Baksman, X-pay. The rules of work are governed by the “User Agreement”, we recommend that you familiarize yourself with it before carrying out the operation. Attention: the exchange rate is fixed for a certain time, usually 15 minutes, during which the operation should be completed according to the instructions. Otherwise, the application can be canceled or recalculated at a new rate. It is very easy to cash out cryptocurrency through an exchange, so consider this option first. To work, you only need an email address and a wallet or card number to receive fiat money. Most of the services offer a loyalty program for regular customers, while discounts can be significant, so it is worth registering (specify your email and set a password to enter your account).

✅  Cryptocurrency exchanges. If the first option is not suitable, then you should go to specialized sites. Only the most popular cryptocurrencies can be withdrawn through the exchanger (Bitcoin, Ethereum, Litecoin, Ripple, Monero, Dash, Dogecoin, Zcash, Ethereum Classic), while exchanges offer a wide range of available cryptoassets for financial transactions, including ERC20 tokens. Crypto exchanges charge small trading fees, but they can be significant when depositing or withdrawing fiat. Always look at the Fee section for up-to-date information. Not all marketplaces work with fiat currencies. The most popular are fiat exchanges: Binance, Currency.com, Exmo and others.

✅  Electronic payment systems (EPS): Advcash, Capitalist, Payeer and others. These services provide an electronic wallet in fiat currency. It can be replenished using cryptocurrency, the conversion will happen automatically. After that, the money can be withdrawn and cashed in available ways. The list of solutions is large: bank cards and transfers, cash, debit cards, etc.

✅  P2P exchangers. For example, Cryptolocator, Localcryptos, Paxful, LocalBitcoins and others.

✅  Exchange with other people. Search forums for people who need cryptocurrency, negotiate an exchange and make a deal. Thus, you will cash out the cryptocurrency and receive real (fiat) money. The main thing is not to get caught by a scammer. Therefore, we recommend making a deal through a guarantor or specialized services, for example, LocalBitcoins.

✅  Alternatively, you can cash out the crypt through an online store that accepts it, by purchasing a product or service.

It is difficult to say which method is more profitable, since everything depends on many factors and conditions. You can withdraw cryptocurrency to ordinary bank cards Visa or Mastercard, and then withdraw cash from any ATM. You can order a card from Qiwi Visa (only RF, commission 2% + 50 rubles) or Yandex Mastercard (commission 3%). Note: account verification for an order is required, there are limits on the minimum and maximum cash withdrawal amount.

From foreign payment systems in Russia, you can get a card from Skrill or Neteller, and their fiat accounts can be replenished via Bitcoin. Many EPS (Advcash, Payeer, etc.), in which Wave Crest was the issuer, closed their card programs. According to official representatives, work is underway to connect new issuers, so the cards will be available again.

How to cash out cryptocurrency through exchangers

Let’s figure out how you can profitably cash out virtual coins through a cryptocurrency exchanger. The method is the simplest and most popular.

The first step is to choose a reliable exchange service. Recommended list:

⭐  Prostocash.

⭐  60Cek.

⭐  Xchange.

⭐  Baksman.

⭐  X-pay.

⭐  Kassa.

⭐  365Cash.

Consider the process of cashing Bitcoin cryptocurrency on Qiwi using the example of the Prostocash exchanger. On other services, the actions are similar.

  • Go to prostocash.com and see if there is a desired exchange direction. Currently, the following cryptocurrencies can be withdrawn: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Dash (DSH), Zcash (Zec), Litecoin (LTC), Peercoin (PPC), Dogecoin (XDG), Namecoin ( NMC). cash out cryptocurrency through the exchanger
  • We register to get a discount that will grow with the increase in the amount of successfully completed transactions.
  • Select the currency you want to receive. Withdrawals to banks are available: Sberbank, Alfa, Promsvyazbank, Tinkoff, Russian Standard, Rosselkhozbank, VTB; to any RUB bank cards; payment systems Qiwi, Yandex, Advakesh, Payer, Perfect Money and others; to the codes of exchanges: Exmo, Livecoin, Wex code.
  • We look at the reserves here, if they are not enough – write to support.
  • We issue an application taking into account the minimum and maximum limits. For example, for Bitcoin, the minimum amount is 0.01 BTC; Ripple – 100 XRP; Litecoin – 0.5 LTC; Ethereum – 0.1 ETH, etc.
  • Below we fill in the form with details. We indicate the wallet number to receive and your email.
  • We read and agree to the terms of service. Click “Start exchange”.
  • A window will appear with a notification that the application will be completed within 5-15 minutes after the transaction is confirmed on the network. When transferring an amount up to 1 BTC, one confirmation is required; from 1 BTC – two. Transaction status can be tracked using blockchain network observers such as blockchain.com. To continue, click “I agree”.
  • The next step is to check the correctness of the application and pay. You will need to strictly follow the instructions and transfer the cryptocurrency from your wallet to the specified address of the exchanger. We transfer the strictly specified amount, after the transfer we press “I paid”. Below we see the recommended commission, which you can indicate when transferring.
  • After receiving the required number of transaction confirmations in the blockchain network, the status of the application will change to “In processing”, within 5-15 minutes you will receive money to your wallet or card.
  • The status of the application can be tracked from your personal account in the “History” section.

The received money can then be withdrawn and cashed in various ways. For example, funds from the Qiwi wallet can be withdrawn by money transfer (Contact, etc.) or to their own Qiwi Visa Plastic card and withdrawn from any ATM in the world. There are many ways, you need to choose the right one.

Through the exchanger, you can immediately exchange cryptocurrency and receive money on any bank card. Some services offer the option to withdraw cash.

Cashing out cryptocurrencies through exchanges

Not all exchanges offer the option to withdraw funds to fiat money. Most large trading volumes accept and withdraw only cryptocurrency. Therefore, you need to look for sites focused on working with clients from Europe and having fiat withdrawal methods.

Consider the exchanges through which you can cash out cryptocurrency by withdrawing to various payment systems. Here is a list of the most liquid sites. We recommend comparing the conditions and commissions for all of them, since the differences can be significant.

  1. Exmo is the leader in the number of fiat withdrawal methods. You can use the following accounts: USD, RUB, EUR, UAH, PLN. Each of them has its own methods of both replenishment and withdrawal. For USD: Skrill, Neteller, Payeer, Advcash, Perfect Money, Wire Transfer, MoneyPolo, Visa and Mastercard, Qiwi, CryptoCapital. RUB (currency – Russian ruble): MoneyPolo, bank cards, Qiwi, Advcash, Payeer. UAH (Ukrainian hryvnia): Visa or Mastercard. Please note that some methods require account verification (video instructions on how to go through it can be viewed here). Commissions on Exmo change periodically, so the current information can be viewed on the official website in the “Commissions and Limits” section. The exchange also has its own internal currency – Ex-code (exchange code Exmo). It can be created in any currency and then cashed and redeemed through bitcoin exchangers or the Advcash payment system.
  1. Localbitcoins – through this exchange you can buy or sell Bitcoin. All transactions take place between clients of the site, Localbitcoins acts as a guarantor. You need to place an ad (form) for the sale of cryptocurrency, indicating a convenient payment method. The exchange takes bitcoins as collateral and transfers them to the buyer only after he has paid for the application, and you confirm receipt of the money. Exchange commission – 1% of the amount, is taken from those who created the ad. Verification is required. You can choose the Russian language of the site.
  1. Livecoin exchange. Another fiat marketplace. Accounts USD, EUR and RUB are available. Payment systems for dollar accounts: Webmoney, Payeer, Perfect Money, Capitalist, Mastercard, Advcash. For ruble accounts: Yandex, Qiwi, Visa / Mastercard, Advcash, Payeer, Capitalist. Account verification is not required.
  2. Cex.io. Carries out the withdrawal of cryptocurrency to bank cards. To do this, you need to go through verification and link the card to your account.
  3. DSX exchange. Those who are familiar with the ePayments payment system probably use a platform for trading and cashing out cryptocurrencies. A DSX fiat account (USD, EUR, GBP, RUB) can be linked to an ePayments account and conduct financial transactions directly. Further, with ePyments money can be transferred to bank cards, Qiwi, Yandex.Money, Webmoney, pay with a mobile phone or transfer to a bank account. Until April 2018, it was possible to order a card. Verification on DSX is required, but it is better to go through it in ePayments.
  4. Wex.nz – USD, RUB, EUR fiat accounts are available. Payment systems: Yandex, Advcash, Payeer, ePay, PerfectMoney, Alfa Bank, Qiwi, Sberbank, cards, Tinkoff, Russian Standard, payment to a mobile phone account. You can choose the method of withdrawing from your USD account into cash (p2p). At the same time, cash can be received in Russia, Belarus, Europe, Kazakhstan, the United Arab Emirates, the commission is 4% of the amount. Withdrawal via exchangers is possible (for this they use the Wex code).
  5. Recently, many fiat crypto-exchanges have appeared, but they are still low-liquid: Bitexbook, Bitlish, Incorex, Bitflip, Crex24, Bitfex, Crypterum, Getbtc, Cryptex, Coinstock, Bitsane, Omicrex, Xbtce and others.

It will not be difficult to cash out cryptocurrency through exchanges, but keep in mind the size of the commission, the minimum limit and the need to go through verification (if necessary). Explore all possible options and choose the exchange with the best conditions.

Crypt withdrawal through electronic payment systems

There are many electronic payment systems through which you can cash out cryptocurrency. But let’s take a look at the most popular in the CIS.

The payment systems listed below allow you to fund your account using cryptocurrency directly.

✅  Advcash. Accounts in dollars, Russian rubles, euros, tenge, Ukrainian hryvnia and Brazilian reais are available. Transfer of funds: to a Yandex, Qiwi wallet, bank cards, by transferring Sepa, Payeer, Perfect Money, to Exmo and Wex codes, to cash through partner exchange offices (Russia, Ukraine, UAE), to cryptocurrency. Account verification is required to raise limits or use some payment solutions. Algorithm: replenish any account with Bitcoin, indicating the amount in the account currency, and then cash out through the “Transfer of funds” section using the appropriate option.

✅  Payeer. Fiat accounts are available: USD, RUB, EUR and crypto wallets: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Dash (DSH). You can first transfer cryptocurrency to them, and then – to fiat through the “Exchange” – “Currency Exchange” – “New Application” section.

Then withdraw (using the “Translate” section).

✅  Capitalist. Allows you to create a bitcoin wallet and receive cryptocurrency on it directly. An unlimited number of wallets can be created, and a new bitcoin address is generated.

To transfer cryptocurrencies to it, select Bitcoin in the “Cryptocurrency wallets” table and the “Control” column from the “Top up” drop-down list. Further, in the form you need to indicate the name of the wallet and transfer the cryptocurrency to the specified address.

To withdraw to fiat, click “Manage” – “Transfer” and select a direction, for example, to a bank card of the Russian Federation or Ukraine, to a QIWI wallet, to a mobile phone number, WM or Yandex.Money, etc.

✅  ePayments. You can directly top up with cryptocurrency or work through the DSX exchange (recommended). You can withdraw to bank cards, WebMoney, Yandex, Qiwi, etc.

✅  This can include other payments: Neteller, Skrill, MoneyPolo, Spectrocoin, etc.

Note. These payment systems allow you to directly fund your account with cryptocurrency. You can use wallets Yandex.Money, Qiwi, but you cannot withdraw cryptocurrency to them – only using exchangers, exchanges or the above-mentioned payment systems.

Output

It’s hard to say which of the listed cryptocurrency cashing options to choose. They all have pros and cons. Analyze all the ways, see the current commissions, rates and conditions. Do not dwell on just one service, combine different options. All of them are workable, legal and allow you to withdraw cryptocoins into real (fiat) money.

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