Home Cryptocurrency Cryptocurrency To Cash: How To Convert Your Cryptocurrency Coins Into Cash

Cryptocurrency To Cash: How To Convert Your Cryptocurrency Coins Into Cash

Cryptocurrency To Cash – How To Convert Your Cryptocurrency Coins Into Cash: There is a boom in cryptocurrency investors around the world. According to a report by crypto exchange Gemini in April this year, India is ahead of Brazil and Hong Kong in the total number of crypto investors for the first time in the last three months.

While investing in crypto may be a good and lucrative idea, you cannot use crypto coins to pay for services in India yet.

In countries such as the US and El Salvador, only a small number of companies accept cryptocurrency for purchase. Therefore, it is important for you to know how to convert your crypto investments into cash.

How to convert cryptocurrency to cash through crypto exchanges

The safest and easiest way to convert cryptocurrency into cash is through third-party crypto exchanges like CoinSwitch, Kuber, Unocoin, WazirX, and others. You just need to make sure that the platform you are choosing supports buying and selling in INR.

  • First, you need to transfer your crypto assets to the exchange of your choice.
  • There, you will see two options which include Deposit and Withdraw.
  • It can appear under the Funds menu, as seen on WazirX.
  • Keep in mind that the exact names of these options can vary from exchange to exchange, but it shouldn’t be too confusing to figure out.
  • Once you click on Withdraw, you will be able to enter the amount you wish to convert and withdraw.
  • After entering an amount, you will receive an email with a registered ID to help you verify the transaction.
  • Once you take care of this quick verification process, your requested amount will be reflected in your account within four to six days.
  • Keep in mind that crypto exchanges will charge a transaction fee, which varies from platform to platform.

How to convert cryptocurrency to cash via a peer-to-peer network

It is safest to convert through exchanges, it takes several days for the amount to appear in your account. A faster way to go might be through a peer-to-peer platform like LocalBitcoins to sell BTC for cash.

Also Read: Coinbase Suffers Huge Interruption, Binance Stops Terra Luna Crypto Trading

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However, you should keep in mind that the potential for fraudulent transactions on peer-to-peer platforms is quite high.

When you sign up for a peer-to-peer platform, you’ll need to choose a location for your ideal buyer. You can use the platform to find buyers and send business requests. Now all you have to do is sell your crypto assets to the buyer in exchange for cash.

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