With investing in cryptocurrencies like Bitcoin in 2022, you may be wondering how you will get out of your investment. Despite the decline in the crypto market, the good news is that customers have various ways to get US dollars for their digital currency, although some companies have prevented investors from withdrawing their crypto for real money.
If you’re selling real estate, you’ll want to understand what taxes mean. You can use a bundle if you register a profit, and the tax rate will depend on the holding period, among other things. Of course, you can ask to be registered if you are selling a free item. But if you think that crypto can make a comeback, it might be better to wait for the fall. Here are five ways to earn your crypto or Bitcoin.
1. Selling Crypto Using Exchange
One of the easiest ways to withdraw your cryptocurrency or Bitcoin is to use a centralized exchange like Coinbase. Coinbase has a simple “buy/sell” button and you can choose the cryptocurrency you want to sell and the amount.
You will quickly exchange cryptocurrency for money, which you can get from your deposit on Coinbase. From there you can transfer the money to your bank account if you want. And while Coinbase is a popular option for selling cryptocurrency, it’s probably better to go to any exchange that currently holds your coins, if you don’t have a hold of the coins yourself.
. Some of the major exchanges include Binance, FTX, and Kraken.
2. Use your broker to sell cryptos
If the seller is holding your cryptocurrencies, the easiest way is to go with the seller. For example, if you are a client of Robinhood or Webull, both of which offer large crypto trading opportunities, then it will be easy for you to trade on their platform and do it.
After you complete the trade, you will receive money in your account and be ready to trade again.
3. Opt for peer-to-peer exchanges
You can also make a direct exchange, selling your cryptocurrency directly to someone else through another company. The most popular way is through the peer-to-peer network that allows sellers to find the best deals through exchanges, although it can be done personally if necessary .
With peer-to-peer e-commerce, you can sell cryptocurrency online in exchange for dollars. These transactions are usually supported by exchanges, and Binance operates an online and peer-to-peer service called Binance P2P.
When you accept a trade, the platform covers your crypto. Once you confirm the transaction record and payment account and ensure that you have received money from the buyer, Binance will transfer the crypto to the buyer on the platform.
Another popular option is the Paxful online platform. Merchants can set their own rates and can choose from over 300 payment options, such as cash, gift cards, or other digital currencies. Customers can sell to more than three million users worldwide, according to the platform’s website.
4. Money from a Bitcoin ATM
Cashing out at an ATM is equivalent to selling your Bitcoin, says Hermes Bitcoin, a California-based bitcoin ATM company. A Bitcoin ATM is a way to get instant cash using your bitcoins. Bitcoin ATMs do not work like traditional ATMs. To make a withdrawal and sell you Bitcoins at the ATM, the machine gives a QR code that you send your Bitcoins. Just wait a few minutes and get your money.
However, the service in Bitcoin ATM transactions can be very high, so it is important to consider how much you are paying and whether it is worth going to another route.
5. Exchange one crypto for another, and withdraw money
Some exchanges do not allow you to exchange or sell some cryptos for dollars, so you have to go the indirect way to get your money. Depending on the exchange you use, you can transfer or convert your cryptocurrency to another popular currency such as the stablecoin Tether, before converting to dollars.
At the end of the line
Traders have different ways to sell their cryptocurrency. Popular crypto exchanges are often a good bet, because they are reliable and well-known, while peer-to-peer trading platforms can offer payment opportunities.
You can use the most convenient way and use Bitcoin ATM to get your crypto quickly, but with a very high service.
