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Digital assets are the future, which is why most investors seek to increase their capital in crypto rather than sell assets. But the owner can always withdraw the cryptocurrency into real money and spend it if necessary. Let’s talk about how to do it.
How to withdraw cryptocurrency into real money on the exchange
The exchange is a trading platform for trading and exchanging digital assets. There are many exchanges, but most of them offer the same set of features. One of the advantages of using an exchange to exchange cryptocurrencies for real money is the ability to independently set the rate, and not to sell the asset at the market. There must be a buyer for the course you propose, who sets the same price.
You can withdraw it to your Visa or MasterCard bank card in the appropriate section after authorization and going to your personal account after selling crypto on the exchange.
The operation does not take much time, as a rule, the transfer is carried out instantly or takes a few minutes. Please note that the exchange charges interest on withdrawals.
The disadvantage of using the exchange is the need for verification. It is important to remember that transactions for verified users are no longer anonymous.
How to transfer cryptocurrency into real money through the payment system
If you do not want to sell crypto on the exchange, there are other ways. You can transfer cryptocurrency into real money through payment systems. Such a function is offered by Payeer, Advcash, PerfectMoney and others. These three systems are called one of the most reliable and popular.
You do not need to go through verification to exchange crypto for ordinary money through payment systems, so the user is guaranteed the anonymity of the transaction. Operations are performed quickly, and working with services is easy even for beginners. There is also a commission.
The disadvantages of withdrawing digital currency through payment systems include not the most favorable exchange rate. Users change assets at the rate set by the platform itself on these services. Payment systems do not always have sufficient reserves for the most popular cryptocurrencies.
How to get real money from cryptocurrency through an online exchanger
The easiest way to withdraw cryptocurrency into real money is called online exchangers legally. These are intermediary services that allow you to conduct transactions with crypto, guaranteeing the security of transactions. One of the popular exchangers is ChangeIt, using it; you can exchange a digital asset for fiat currency and withdraw money to a bank card.
The advantages of online exchangers are called fast transactions; transactions take a couple of minutes, ease of working with them, quick registration. You can withdraw cryptocurrency into real money at a favorable rate, and cards from most Ukrainian banks Visa and MasterCard are suitable for receiving funds through online exchangers.
Another important advantage is the absence of hidden fees. The user sees the final amount that will be deducted from his balance before confirming the transaction.
How to transfer cryptocurrency to real money via P2P
The last option we will look at is P2P platforms. These are services where users conduct transactions between themselves directly. P2P works on the principle of a marketplace: one user creates an application for the sale or purchase of an asset, sets the rate, the second agrees to the transaction if he is satisfied with the conditions. When a buyer transfers funds for a crypt, the digital currency is blocked; it is not credited to the buyer’s account until the seller confirms the receipt of money.
You can exchange cryptocurrency for real money at a rate set by yourself with the help of a P2P platform. The service does not charge a commission, ensures the equality of the participants in the transaction. There is also a drawback – transactions take longer, as the participants in the transaction themselves find each other.
You can learn more about how to withdraw cryptocurrency into real money in 2022, as well as learn how to make money on it, on the Crypto Crew course. We teach beginners how to invest in cryptocurrencies and earn money by trading on the stock exchange, effectively managing risks.