It has been over a decade since the first cryptocurrency was introduced. Now, the number of cryptocurrencies out there has risen rapidly, along with their prices and the number of investors that are interested. Some of the most popular digital currencies are Bitcoin, Ripple, Monero, and Ethereum.
Cryptocurrencies tend to gain value over time. Although they experience huge price volatility, many investors like to invest in them because they are not easily affected by external economic forces such as inflation. As the number of people investing in cryptocurrencies keeps growing, so does the number of exchanges that enable people to trade in cryptocurrencies.
Today, you can use crypto exchanges to convert one crypto to another, but you can also use the exchanges for cryptocurrency withdrawal. Investing in crypto seems easier now, but many people are left wondering is how they can withdraw crypto for cash. In this article, we share tips on how to withdraw cryptocurrency.
Withdraw cryptocurrency from a crypto exchange
Crypto exchanges are one of the easiest and most common methods you can use to withdraw crypto. You can use a crypto exchange to buy and sell the various digital currencies supported by that particular exchange and even withdraw fiat currency to your bank account. If you have some crypto coins in your crypto wallet, you can deposit them to a crypto exchange, convert the crypto to your local currency and then withdraw the money to your bank account.
You can withdraw cryptocurrency through Nakitcoins or any other popular exchange such as Kraken or Coinbase. Nakitcoins allows you to withdraw crypto through a simple process and you receive the funds to your bank account instantly. Ensure you choose a trustworthy exchange to ensure your funds are safe and secure.
Withdraw cryptocurrency through peer-to-peer (P2P) exchanges
One of the reasons why many people are investing in crypto is because of anonymity. Some people prefer to keep their details private, and some digital currencies like Monero provide that. When doing a cryptocurrency withdrawal, you can still keep your details anonymous if you choose the peer-to-peer transfer option. Here, the buyer transfers the funds to a payment option you specify before you release your crypto to them.
However, the P2P option can be risky as some fraudsters tend to use this option to defraud unsuspecting sellers. To avoid this, you can use peer-to-peer selling platforms like LocalBitcoins where your crypto is held at the escrow service until you confirm the receipt of payment to release the crypto. The payment options you can choose include:
· Direct deposit to the bank.
· Direct bank transfer.
· Meeting the buyer in person to hand you cash or send the money to your PayPal address.
Withdraw digital currency via crypto ATMs
Crypto ATMs are much like ordinary ATMs, but they allow you to transact with cryptocurrencies instead of fiat currency. Initially, we only had Bitcoin ATMs, but now other digital coins, including Monero have taken up crypto ATMs to facilitate buying withdrawing cryptocurrency.
Crypto ATMs are internet-connected, allowing users to either connect to a crypto exchange or their wallets. You can withdraw crypto for cash at crypto ATMs by selling the crypto in your wallet. You can use Google to locate a crypto ATM near you.