Different Ways to Convert Bitcoin into Cash

Most people who are interested in cryptocurrencies are well aware of the difficulty of converting cryptocurrencies into coins.

It is true that cryptocurrencies are expanding dramatically and unrivaled, and day after day a government or non-governmental organization appears to announce its adoption of cryptocurrencies, the last of which is Facebook, which announced a special development of cryptocurrency with the name Libra

However, the exchange or dealing in cryptocurrencies is still restricted to specific geographical destinations, and not others, as a result of some governments’ hostility towards cryptocurrencies and seeing them as a threat that must be closed and not permanently used.

There are other regions that allow dealing with it, but according to strict terms and conditions, including the imposition of the KYC and AML law against money laundering. Crypto circulated greatly a few years ago thanks to the very high value of the Bitcoin digital currency. Although the value of the currency has declined since then (Bitcoin is still more than 6,500 pounds), there is still great enthusiasm for this. Although the practical uses seem limited, it is expected that there will be a strong relationship between coding and sports, especially football, during the coming period. All made him in possession of cryptocurrencies he finds it very difficult to exchange and deal with them. Bitcoin Evolution makes the bitcoin currency more popular in the market.

Trading platforms

It is considered one of the prominent solutions in providing a mechanism for converting bitcoin and other cryptocurrencies into cash, but it is very few.

Whereas, according to one of the recently published reports , 84% of these trading platforms do not provide cryptocurrency trading directly for cash currencies, while only 16% of them provide cryptocurrency trading for cash currencies.

Among this small percentage 16%, only a few provide services to wide geographical areas, and many are restricted to regions only.

Among the platforms that provide the ability to withdraw and convert Bitcoin to cash, we find the following:

Bitstamp platform

This trading platform provides the ability to withdraw cryptocurrencies by converting them directly to cash. What distinguishes the Bitstamp platform is the ability to withdraw large amounts of cash, but their anchoring appears to be high, especially when withdrawing small amounts, where 10% of each withdrawal is deducted.

The currencies supported by the platform in withdrawals: the dollar, the euro, sterling, the Canadian dollar, the Japanese yen.

For your information, and to be able to withdraw your money from the Bitstamp platform, you must go through the customer verification stage it requires to verify personal data.

Kraken platform

It is also a great platform to provide the ability to convert bitcoin and cryptocurrencies into coins.

It provides high levels of withdrawals according to account verification degrees.

CEX platform

Very similar to the platforms mentioned above, and it provides the ability to convert cryptocurrencies in to coins. The platform supports the ability to withdraw cryptocurrencies towards cash currencies by credit cards.

There are other trading platforms in the same context that allow the conversion of cryptocurrencies into cash such as: Finance platform, OK Coin platform, Queen Base platform. This solution was for trading platforms while there are other solutions as well:

P2P peer-to-peer platforms

Among the most popular methods and solutions for converting bitcoin into P2P cash-relying methods are among the most popular of these platforms:

Local Bitcoins platform

This decentralized platform that relies on the P2P protocol in its work to offer offers and requests for buying and selling cryptocurrencies in most regions of the world.  These also support even regions whose governments oppose the use of cryptocurrencies. This platform provides different payment solutions in exchange for cryptocurrencies such as: Pioneer Passera, Paypal, Cache and other various international payment methods.

For your information, there are several platforms that are quite similar to the Local Bitcoins service, such as: Paxful, Meetup.

Bitcoin machines (ATM BITCOIN)

This solution is only available in geographic regions. ATM machines provide quick and practical solutions in converting cryptocurrencies to cash and a credit card and storage wallet number are sufficient for the machine to smoothly convert. These were some practical and effective solutions in the process of converting bitcoin and cryptocurrencies to coins.

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