You’ve got your millions and now you want to know how to cash out Bitcoin or another cryptocurrency? Well, we prepared this guide for you! No matter how large or small your balance is, we will show you exactly how to turn your cryptocurrency into cash. Let’s discover some of the different cash out methods!
Your first step into the cryptocurrency world will most likely occur through an exchange.
The first type of exchange is what most people call a fiat exchange. It’s a direct conversion of US Dollars, Euros, or another government currency.
The second type of exchange is a cryptocurrency to cryptocurrency exchange (C2C) that allows different cryptocurrencies to be traded with one another.
Read more about crypto exchanges in our article.
- Hot wallets
- Software wallets
- Cold wallets (hardware wallets and paper wallets)
When you buy a cryptocurrency for the first time, you may have to go through a cryptocurrency exchange. You will have to create an account and verify it through a KYC.
Here are the most reliable crypto exchanges:
These websites allow you to buy cryptocurrencies with your VISA card or a bank transfer. This way you can convert Bitcoin to USD or EUR.
Before downloading a wallet, it is important to know which cryptocurrency you want to receive or buy and transfer to your wallet.
For example, if you want to convert Bitcoin to EUR, you need to download a Bitcoin wallet. If you want to convert Ethereum to EUR, you need to download an Ethereum wallet. You also can use several wallets for different crypto.
Hardware wallets (cold wallets)
Hardware wallets are in the form of USB flash, and they’re the safest way to store and transfer cryptocurrencies.
Paper wallets (cold wallets)
A paper wallet consists of a printed or hand-written note of your private keys. As such your funds are as safe as the paper your private keys are written on.
Cool fact: Did you know that more than $2 billion worth of Bitcoin transactions happen every day?!
Bitcoin prepaid cards
Bitcoin prepaid (or debit) cards have been around for a while. Many believe that these are one of the best ways of exchanging digital currency for cash, given the wide variety of benefits that they offer. Bitcoin prepaid cards are normal cards, generally issued by Visa or MasterCard, which can be funded via BTC or other currencies.
What are the advantages of crypto debit cards?
Crypto debit cards give you the ability to pay at any POS system, cashing out your crypto at worldwide ATMs and allowing instant conversion from crypto to fiat such as USD or EUR. Some of the other benefits include low commissions, free delivery, chip and PIN support, transparent fees, and more.
It is important to point out that bitcoin prepaid cards are only accepted in certain countries, and if the provider doesn’t accept your country’s native currency, you’ll have to pay a conversion fee from USD/EUR.
TRASTRA VISA Card offers you the best conditions in which to spend Bitcoin, Ethereum and more than 5 Altcoins in your day-to-day life! So turn your crypto to EUR and receive your plastic card via global delivery.