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<p>So you just remembered you bought some Bitcoin when it was still valued at $30 a piece and now, with the price currently floating above $100,000, it feels like the time is right to cash out! But how can you go about doing so?&nbsp;</p>
<p>There are many ways to cash out crypto to fiat because there are many reasons why someone might want to do so. If you’re a crypto trader, you might be tempted to cash out to realize your financial gains. Alternatively, if you’ve kept some crypto for a rainy day and need to use those funds to meet your financial obligations, it might make sense to exchange some of them for “real” money. Or if you’re an investor, you may just want to rebalance your portfolio by selling some crypto to put those funds in another asset.&nbsp;</p>
<p>Whatever the case, there are many different ways we can convert crypto fiat, with some of the most common being cryptocurrency exchanges, crypto on- and off-ramps, peer-to-peer platforms, crypto credit, and debit cards, and even crypto ATMs.&nbsp;</p>
<h3 id="crypto-exchanges">Crypto Exchanges</h3>
<p>Crypto-to-fiat exchanges such as <a href="https://www.binance.com/" rel="noopener noreferrer nofollow">Binance</a>, <a href="https://www.coinbase.com/" rel="noopener noreferrer nofollow">Coinbase</a>, <a href="https://www.kraken.com" rel="noopener noreferrer nofollow">Kraken</a>, <a href="https://www.kucoin.com/" rel="noopener noreferrer nofollow">Kucoin</a>, and <a href="http://gate.io" rel="noopener noreferrer nofollow">Gate.io</a>, to name just a few, are essentially marketplaces through which anyone can buy hundreds of different cryptocurrencies at the click of a button. They’re one of the main onboarding methods for crypto users, and they’re widely used by traders hoping to profit from the volatility of digital assets. With them, you can deposit fiat using various payment methods, and use those funds to buy and sell crypto to your heart’s content.&nbsp;</p>
<p>Exchanges also offer users the chance to cash out at any moment, and they support a variety of payout methods, such as withdrawing it to a bank account or putting it on a card that can be used in real world stores.&nbsp;</p>
<p>With exchanges, most users just send the fiat directly to their bank accounts, but beware that many of these platforms can be slow and expensive. Transfer times can range from a few minutes to hours to even days, depending on the kind of asset you’re trying to cash out of. They also charge expensive fees for cash withdrawals. It’s also necessary to point out that most crypto exchanges are centralized, which means giving up custody of your crypto while it’s deposited in their wallets.&nbsp;</p>
<h3 id="crypto-on-ramps-and-off-ramps">Crypto On-Ramps and Off-Ramps</h3>
<p>As an alternative, one of the most popular methods for cashing out crypto (and buying in) are crypto on- and off-ramps. Examples include <a href="https://ramp.network" rel="noopener noreferrer nofollow">Ramp Network</a>, which offers a dedicated mobile app for exchanging crypto to fiat and vice versa, and also integrates its services directly with hundreds of other decentralized Web3 applications.&nbsp;</p>
<p>The advantages of using a service like Ramp Network are speed, simplicity, and security. Users only have to sign up once and pass KYC once, and after that, they’ll be able to use its platform to cash out their crypto from any compatible dApp. It supports a wide range of digital tokens, not to mention multiple deposit and payout methods.&nbsp;</p>
<p>For instance, users have the choice to cash out their crypto to fiat and send the funds directly to their bank, credit card, or an app like Google Pay or Apple Pay. What’s more, some payout options are almost instantaneous, with the funds appearing in the user’s bank account within just a couple of minutes at the most.</p>
<p>Users can send their crypto directly from their wallet using Ramp Network, or if they have their coins in a dApp, they can immediately cash out directly from that dApp, using Ramp Network’s payout services, making for an extremely convenient experience. The experience is non-custodial, meaning Ramp Network never holds the user’s tokens or fiat currency, increasing security.&nbsp;</p>
<h3 id="peer-to-peer-services">Peer-to-Peer Services</h3>
<p>Another intriguing option, especially useful for those who want to remain anonymous, is peer-to-peer services such as <a href="https://paxful.com/" rel="noopener noreferrer nofollow">Paxful</a>, <a href="https://localcoinswap.com/" rel="noopener noreferrer nofollow">LocalCoinSwap</a>, and <a href="https://hodlhodl.com/" rel="noopener noreferrer nofollow">HodlHodl</a>. Using these services, it’s possible to connect directly with other individuals who want to buy and sell crypto, meaning you can cash out without any kind of intermediary involved.&nbsp;</p>
<p>For instance, on LocalCoinSwap, you can just browse through a list of users who are advertising the rate at which they’ll buy Bitcoin, ETH, USDC, or another kind of crypto. After choosing a merchant, you simply enter the amount of crypto you want to sell, then once the other party agrees, the coins will be deposited into a kind of escrow smart contract. The buyer will then send the fiat directly to your bank account, at which point you then release the tokens to them. Alternatively, you can even arrange to meet up and perform the transaction face-to-face, in public.&nbsp;</p>
<p>There are a lot of upsides to peer-to-peer services, but the downside is that most buyers charge considerable fees, so you’ll typically lose 3% to 4% of the value of your crypto. There are also a lot of fraudsters who will attempt to scam unwitting users. So be sure to exercise caution and carefully vet any counterparty you intend to trade with.&nbsp;</p>
<h3 id="crypto-atms">Crypto ATMs</h3>
<p>These are physical terminals that allow you to deposit crypto, and withdraw fiat currency in exchange. They bridge the gap between the worlds of digital and traditional money and can help make cashing out much more straightforward.&nbsp;</p>
<p>Crypto ATMs operate somewhat similarly to traditional ATMs, and they also allow users to purchase crypto. You simply enter your wallet’s private key or use it to scan a QR code, to initiate a transaction. These ATMs are popular because they can support offline transactions, and they can be found in shopping malls, convenience stores, and airports. Some of the top crypto ATM providers include <a href="https://coinme.com/bitcoin-atm/" rel="noopener noreferrer nofollow">Coinme</a> and <a href="https://bitcoindepot.com" rel="noopener noreferrer nofollow">Bitcoin Depot</a>.</p>
<p>Benefits include convenience and 24-hour availability, but most crypto ATMs only offer a limited selection of cryptocurrencies, so it’s harder to cash out more obscure tokens using them. They also come with high fees, and they can be difficult to find in many countries.&nbsp;</p>
<h3 id="otc-trading">OTC Trading&nbsp;</h3>
<p>Also known as over-the-counter or pink sheet trading, this refers to a method of trading crypto that bypasses public exchanges and occurs between two individuals. It’s possible to exchange large amounts of crypto for fiat in this way, and such services are generally designed to cater to large institutions, high-net-worth individuals, and “crypto whales”.&nbsp;</p>
<p>Advantages include a high level of discretion, the ability to buy and sell large amounts of crypto without having an impact on prices and trade volumes, and customizable traders. However, such services come with higher fees and less transparency compared to trading on an exchange. In addition, OTC services are generally not available to those looking to withdraw smaller amounts of crypto.&nbsp;</p>
<h3 id="crypto-brokers">Crypto Brokers</h3>
<p>These are platforms that make it possible to buy and sell digital money using fiat currencies such as dollars, euros, and pounds. They provide simpler interfaces compared to many crypto exchanges and support rapid transaction processing when trading one crypto for another. They also offer high security for users.&nbsp;</p>
<p>However, the limitations of brokers include a narrow range of supported assets, less control, fewer trading tools, and more expensive fees. In addition, crypto brokers can be susceptible to fraud and hacks, and the transfer times of crypto withdrawals can be very slow, sometimes taking several days to process.&nbsp;&nbsp;</p>
<h3 id="crypto-debit-cards">Crypto Debit Cards</h3>
<p>These offer a way to spend crypto in the real world, rather than cashing out directly, but they can be useful for those who need to use their digital money to make certain kinds of purchases. For instance, if you need to buy some groceries, you’ll be able to do so and pay with crypto at any store that supports your crypto credit card.&nbsp;</p>
<p>Some of the most popular crypto debit cards include <a href="https://help.venmo.com/hc/en-us/articles/4402144390035-Cash-Back-to-Crypto-for-the-Venmo-Credit-Card-FAQ" rel="noopener noreferrer nofollow">Venmo</a>, <a href="https://www.gemini.com/credit-card" rel="noopener noreferrer nofollow">Gemini</a>, <a href="https://crypto.com/cards/" rel="noopener noreferrer nofollow">Crypto.com</a>, and <a href="https://www.coinbase.com/card" rel="noopener noreferrer nofollow">Coinbase</a>, and they allow users to spend the crypto they hold in their exchange accounts at hundreds of different stores that accept Mastercard or VISA payments.&nbsp;&nbsp;</p>
<p>The way they work is that the card is linked to your crypto exchange account, so you’ll need to make sure you have enough funds to cover you transaction, or else it will be rejected. Whenever the user pays with their card, the crypto in their account is automatically converted to fiat at the current rate, and the funds are exchanged instantly.&nbsp;</p>
<p>It’s one of the fastest ways to cash out crypto, but such cards often charge expensive fees, they may have transaction limits, and they don’t allow users to actually withdraw the cash into their hands.&nbsp;</p>
<h3 id="the-bottom-line">The Bottom Line</h3>
<p>These days the crypto industry has matured, and there are dozens of ways for people to convert their digital assets into fiat, and many of them will allow you to do so in a hurry. Crypto off-ramps are fast becoming one of the popular choices due to their all-around strengths and convenience, as they eliminate the complexity of going through an exchange of peer-to-peer service.&nbsp;</p>
<p>That said, users should always consider the benefits and limitations of any crypto cash-out method to decide which one is appropriate for their needs.&nbsp;</p>
<p>Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p>
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How Can I Cash Out Crypto To Real Money? What Options Do I Have?

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