More and more people have embraced Bitcoin and other digital coins over time. This is largely due to the many benefits that investing in crypto provides. Some of these benefits include the fundamental decentralization of the blockchain, allowing people to spend them across borders, and the lower transaction fees applied when using them.
However, there are instances when one needs to convert their Bitcoin to fiats like US dollars, Turkish Lira, and other major currencies. This article looks at some of the methods you can use to cash out your Bitcoin instantly.
Using crypto debit cards
The chances are that you already use a regular bank debit card to withdraw money at an ATM or pay for things by pulling funds from your bank account. A crypto debit card works in a similar way but it gets funds from your crypto wallet.
You can use the crypto debit card to withdraw fiat currencies like USD from ATMs, or even to pay for goods and services at outlets that accept debit cards. The top crypto debit card providers include Bitpay, Coinbase, and Wirex. The advantages of crypto debit cards are they are quick and easy to use, allow you to spend or withdraw as much or as little as you wish, and you can use them to shop online.
On the other hand, crypto debit cards have a few downsides such as their availability being limited to countries like the US. They also attract standard charges at the ATM to withdraw cash.
Using exchanges to cash out Bitcoin instantly
Crypto exchanges are one-stop shops for digital currency transactions. You can use these marketplaces to cash out Bitcoin instantly safely and securely. If you use a centralized exchange that has custodial wallets, cashing out your digital coins instantly can be pretty fast. All you need is to select the coin you want to convert to cash, say BTC, and the amount you want to sell. Once you accept the rate of cashing out, you will be able to accept your cash instantly.
However, using exchanges to cash out bitcoins has the disadvantage of having to pay the transaction and service fees that the platforms charge. On the positive side, you can negotiate the rate for selling your Bitcoin to get a better amount of cash, and the exchanges are convenient and safer than some other ways.
Besides the centralized exchanges that you can use when your coins are stored in their wallets, you can use decentralized exchanges. You can visit their offices and cash out Bitcoin instantly by transferring your coins from your wallet to their wallets. If you are in Turkey, NakitCoins is one of such exchanges that operate offices where you can walk in and get cash quickly for your BTC.
Using Bitcoin ATMs
Another method you can use to cash out Bitcoin instantly is Bitcoin ATMs. You need to locate the nearest ATM to you. At the BATM machine, you scan your wallet’s QR code, and input the number of coins you want to convert to cash and the ATM dispenses cash equal to the value of the BTC you have sold.
Bitcoin ATMs are convenient ways to cash out Bitcoin instantly, but they charge higher fees than many other methods of selling Bitcoin. Also, not all areas have Bitcoin ATMs that you can use to convert your digital coins to fiat currencies.
Conclusion
These are some of the ways you can use to cash out Bitcoin instantly. You can use crypto debit cards, crypto exchanges, and Bitcoin ATMs. Other ways include selling on P2P platforms, or to people around you. Irrespective of the method you choose, ensure it is safe, has reasonable fees, and works for you.
