Find a Bitcoin ATM Near You Easy & Convenient Bitcoin ATMs

But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. We are an independent, advertising-supported comparison service. Crypto is a speculative asset that can be part of a larger, diversified investing strategy, but don’t panic sell just because the news says “Bitcoin is dead” for the 1,400th time. Instead, take a level-headed approach to your investment strategies, and make decisions based on your long-term goals — not short-term feelings.

With all the volatility in the crypto market, it’s easy to want to sell when things are looking grim. But if you sell when the markets are down, the opportunity cost may be huge. While some of the top cryptocurrency exchanges are, indeed, based in the United States (i.e. KuCoin or Kraken), there are other very well-known industry leaders that are located all over the world. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. When I say « safely », naturally, I’m talking about utilizing a highly-rated crypto exchange, i.e.

In addition to paying network fees to transfer your Bitcoin, ATMs charge service and transaction fees that can exceed 15% per transaction. While not quite as easy as swiping your debit card at an ATM, cashing out Bitcoin (or other cryptos) has gotten much easier over the past few years. So, yes, there are several ways to turn your Bitcoin holdings into cold, hard cash — but there are several things to consider before you do. The article also provides basic knowledge about cryptocurrency transactions. If you don’t like the thought of having to wait three days for cashing out Bitcoin, you should consider using a peer-to-peer selling platform like LocalBitcoins.

Learn more about cryptocurrency, the blockchain, and digital currencies.

It is also one of the cheapest ways to convert crypto to cash, while still receiving your cash near instantly. Load the card from your BitPay Wallet balance or connect to a Coinbase account. You can use the card to pay for things in-store, shop online or even pull cash straight from an ATM. Many popular online brokers now allow crypto trading, and if you purchased your Bitcoin on one of these platforms, you can quickly exchange your crypto for cash. Trading apps like Robinhood offer several cryptocurrencies to invest in, and you can buy or sell crypto just like on a crypto exchange.

1. You may owe a bundle if you’re booking a capital gain, and the tax rate will depend on the holding period, among other things.
2. These cards are a newly evolving technology, and you can only use them for direct purchases at retail and for cash withdrawals through ATMs.
3. The best bet is to use a platform like Binance.us or FTX.us to save on fees, and quickly cash out your crypto for dollars.
4. For now, however, there are still relatively few businessesor individuals that accept payment in bitcoin.
5. The limits for buying or selling bitcoin with a Bitcoin ATM vary depending on the operator.
6. You can then send the cash equivalent of your bitcoin to your bank account.

ETFs trade on an exchange and are available through most brokers and the expense ratios on several funds are below what you might pay to trade on a crypto exchange. Luckily, now that bitcoin (BTC) has been around for over 10 years, the industry has caught up, providing several great options for converting bitcoins into cash, which we’ll discuss in this article. If you hold Bitcoin or other crypto within Cash App or another money transfer app, you can sell it pretty easily. You will pay a fee within the app, but it’s usually pretty reasonable.

Expanding Our Cash Network, Adding Over 22,000 ATMs For Instant Cash Pick Up

Similarly, if your account is not fully verified, you cannot withdraw money. Bitcoin ATMs enable the withdrawal of tokens into real money within a shorter time frame. With the rapid emergence of physical ATMs, they are one of the convenient alternatives for people when they need cash in a hurry and wish to avoid the procedures of online trading platforms. If you sell your cryptocurrency, however, it’s important to understand that you could be creating a tax liability, so you’ll want to be sure you account for taxes in your decision to sell. With the introduction of spot Bitcoin ETFs in 2024, investors have a simple way to buy and sell Bitcoin using a familiar structure.

That said, many users believe that KuCoin is one of the simpler exchanges on the current market. Reading up on how to cash out Bitcoin, you’ll quickly notice that there are quite a few different ways of going about it. The general opinion, however, is that utilizing a cryptocurrency broker (or an exchange) is still the best way to go about it. Exchanges such as Binance offer users the highest levels of security, and some of the better cashing-out options, in general. Before you can make the withdrawal, you need to exchange your Bitcoin for your local currency. Enter the amount of Bitcoin that you wish to sell, and the fiat currency equivalent will update.

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The Coinme blog has tons of useful information to keep you up to date on the latest trends in the cryptocurrency space. Learn about the basics of the blockchain, how to get started with bitcoin, or check out our helpful crypto ATM guide. A Coinme Bitcoin ATM and competing Bitcoin ATMs are similar in many ways. What sets a Coinme-powered Bitcoin ATM apart from other Bitcoin ATMs is our convenient neighborhood locations, trusted brand partners, competitive fees, and ease of use. We’re confident you’ll find buying bitcoin at a Coinme location easier than ever, and from a familiar grocery store or pharmacy environment near you. Coinme-enabled machines provide you with a physical receipt as proof of your purchase, but your crypto will be automatically loaded to your Coinme wallet!

Over-the-Counter (OTC) Trading

However, some sellers decide to ask new buyers (those who have no feedback) to supply identification. Withdrawing Bitcoin isn’t always instant, because all platforms have different processing speeds. Most withdrawals are completed in a few hours, but some may take longer. Several exchanges let you cash out faster, but you have to pay a special fee for it. Thus, you can bypass the exchange and have more control over trading terms.

This keeps your Bitcoins locked until you confirm the payment has been received from the buyer. To make sure brokers do not break money laundering laws, you will need to withdraw to the same bank account that you deposited with. If you have never deposited top 10 most profitable crypto coins to mine in 2020 fiat on to a broker exchange, then you will more than likely need to make (at least) one deposit first. This guide will include methods of how to turn Bitcoin into cash such as bank transfer, PayPal and even through cash deposit! I will show you how to withdraw Bitcoins to cash using an exchange (namely, Binance) and through a peer-to-peer exchange. And to make it easier for you, I will also include some helpful images.

Use an exchange to sell crypto

Coinbase has an easy-to-use “buy/sell” button and you can choose which cryptocurrency you want to sell and the amount. Depending on how large or small your transaction is may determine which method you use. While technically not cash, converting crypto into gift cards usable practically anywhere is a close compromise.

You can also earn crypto rewards that deposit into your Coinbase account (reward rates vary). The best bet is to use a platform like Binance.us or FTX.us to save on fees, and quickly cash out your crypto for dollars. The mobile apps make it easy to sell, and you can connect your bank account to transfer funds after the crypto is sold. In layman’s terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman – it connects you (your offer or request) with that other person (the seller or the buyer).

Crypto debit cards operate similarly to a regular debit card. However, instead of using a bank account, the card pulls funds from a crypto wallet. The BitPay Card is one of the top crypto cards for U.S. residents.

So no matter what crypto app you prefer, you should be able to quickly convert it to a stack of Benjamins. Before selling off your crypto to stash piles of cash under your mattress, evaluate your overall crypto investing strategy. If you are a long-term investor and believe in the assets you hold, you may regret selling after prices recover. So while Bitcoin ATMs are an option to quickly access physical cash by selling your crypto, there is a high cost for the privilege of using them. The article is very detailed and easy to understand on how to withdraw money from BTC. There is also a rating system like eBay, where you can leave feedback for the buyer or seller.

Crypto debit cards are becoming more popular, with many crypto exchanges offering them as a way to spend your crypto balance. Crypto debit cards are typically connected to a centralized crypto exchange account and allow you to swipe the card for regular purchases. The exchange will convert your crypto to cash and use it for the purchase. Whatever your needs, there’s a method that can fit and the options continue to grow as bitcoin becomes more common and accepted throughout the world.