Here are the 4 methods to convert your cryptocurrencies into money!

Converting your cryptocurrencies into cash, is that what you're looking for? 

This is indeed a question that I get asked a lot even though I have already written articles on the subject. Let's say that there, it will take the form of an explanatory guide.

In this article, we will cover the 4 main methods for converting your cryptos into euros (euros/dollars and fiat in general).

Here you will learn all the ways to convert your cryptocurrencies into euros and choose the method that suits you best.

1/ Convert your cryptos into euros in a purchasing platform

Exchanges are arguably the most popular method for converting your cryptocurrencies. You should be aware, however, that not all exchanges work with fiat currencies and are therefore suitable for conversions to euros and withdrawals.

The methods supported by exchanges that work with fiat also differ. The most convenient are those that allow users to transfer fiat money directly to their debit cards, such as Coinbase  ou Bitpanda for example.

Exchanges take a commission for each transaction. You still have to keep this in mind. Also remember that for most exchange platforms, it is generally necessary to verify the identity of the user.

Coinbase: the simplest solution to convert your cryptos into euros

First of all, you will need to register on Bitpanda to be able to take advantage of this very practical feature.

Once you have deposited your cryptocurrencies into your Coinbase account, you can consider selling them. Of course, with Bitpanda, the only flaw is that there are not a large number of cryptocurrencies supported. This also applies to GDAX, the Coinbase exchange platform.

In most cases, you will be asked to provide an analysis of your identity. Make sure the platform is authorized in your country. This is a normal procedure, and it's pretty secure as long as you're working with a stable exchange like Coinbase. If a platform does not require identity verification of its users, it is likely that banks will simply refuse to work with that platform. So it’s a double-edged sword.

How to convert your cryptos into euros on Bitpanda: 

1. You must register on the platform if this is not already the case. Check depending on the country you are in if Coinbase allows you to use its services.
2. Transfer your cryptos from your other wallets to Coinbase.  All you have to do is copy and paste the newly created address into Coinbase or Bitpanda.
3. Click then on the button at the top right “Exchange”.
4. There you will have the choice between "buy", "sell" or "exchange". Of course, to convert your cryptos into euros, you have to click on sell.
5. Now choose the amount you want to sell and confirm the sale.
6. Your EURO account will then be cleared for the amount sold.
7. You can transfer this balance in euros to your bank account or to Paypal.

You see? It's really very simple. I, moreover, use Coinbase a lot mainly for this option which I find extremely practical. Especially for sending money directly to Paypal. A real ease, it must be admitted.

Now, if Coinbase, for x reason, is not right for you, there are other methods that we will look at right now.

2. Convert your cryptos to euros on a peer-to-peer exchange

Here, I will rely on LocalBitcoin which is the most popular platform for peer-to-peer exchanges. This means that you will sell your cryptocurrencies to a person directly.

The platform Localbitcoin serves as intermediaries between buyers and sellers of cryptocurrencies and fiat currency.

Here you can agree to directly exchange cryptocurrency for fiat with other people. Depending on the amount you exchange, as well as your personal situation, you can meet the other party in person and get money in cash or simply ask them to send you money to your bank card , an electronic wallet such as PayPal or something else. The possibilities are really very wide on peer-to-peer platforms.

LocalthereumP2P exchange services can be a good option if you need to exchange small amounts of money. Otherwise, it is better to opt for secure and stable exchange services. The fact is that if you transfer a lot of money through a bank transaction, it will be verified by your bank and they may ask you what the source of the money is. And exchanging a lot of money in cash can be too risky, because you never know who exactly you are going to meet with during the exchange. This is why it remains a rather risky option.

If you want to maintain your privacy and leave no trace of fiat transactions, it is in your best interest to choose a peer-to-peer exchange service.

Please note that on LocalBitcoin, you can essentially convert bitcoins. So first make sure to exchange your other cryptocurrencies into bitcoin before going to the platform.

How to convert your cryptos into euros on LocalBitcoin: 

1. You must register on the platform if this is not already the case. Install double authentication if you haven't already done so for even more security.
2. Transfer your bitcoin to LocalBitcoins.  You simply need to click on “your account” then “receive bitcoin”. There, you will have a new address to which you will have to send your bitcoins.
3. Then click on “sell » in the main menu. There you will need to refine your criteria. In which country you want to find your bitcoin buyer. Which payment method etc. If you want cash, you will need to choose Western Union or Moneygram. You can also choose a national bank transfer. It is according to your requirements.
4. Among the list of potential buyers, click on the one that interests you the most. Don't forget to choose a regular buyer with good ratings on the platform.
5. Now choose the amount you want to sell and send an explanatory message to your buyer.
6. Depending on the payment method received. You will receive your amount in your account bank or by Western Union or by another method you choose.
7. There, once you have announced that you have received payment. LocalBitcoin will release your bitcoins and send them to the buyer.

The steps are indeed quite simple on LocalBitcoin. There is still a risk that you may come across a dishonest person. The only thing that is good is that LocalBitcoin has excellent customer support. 😎  If you report that you have not received your money, then the bitcoins are not released.

Another risk factor is that there is no way of knowing who the previous owners of the BTC were. If the BTC you earn through LocalBitcoins was used to pay for something illegal, you may have difficulty explaining to the authorities that you had nothing to do with it because you won't be able to prove how you obtained these BTC. 

Besides, other than LocalBitcoin, there is also Paxful which I could have cited here and which works in the same way.

3. Convert your cryptos into euros with crypto bank cards

This is indeed a great option. Crypto bank cards are often prepaid cards. This means that you can only spend what you have. These are not credit cards, I wanted to clarify that 😉

So, Bitcoin prepaid debit cards are simple debit cards, usually issued by Mastercard or Visa. You can have these cards to store Bitcoin and some other cryptocurrencies.

The providers of these services are Coinbase, Wirex ou  Bitwala, to name a few.

💃 I invite you to read the article on the best bitcoin bank cards to choose the card that suits you best.

This method has obvious advantages: you can transfer directly to a debit card, then do all the transactions you could do with your regular card, or simply withdraw your fiat money from any ATM.

Fees and transaction structure are also transparent and available on the respective sites.

Additionally, you can always contact the provider's support service if you encounter any problems with your transaction.

Another good thing is that some providers, like Wirex, even offer cashback on all transactions using cryptocurrencies – up to 1% in the case of Wirex. This simply means that when you purchase something with your card, you immediately receive 1% of your purchase in the form of cryptocurrency. Cool, right?

The disadvantage, on the other hand, is that the corresponding services do not exist in many countries (especially in Africa) and that it is not always possible to top up debit cards with cryptocurrencies due to legal regulations in force in certain regions.

You can transfer cryptocurrencies directly to a Bitcoin bank card and then carry out all transactions with it, or simply withdraw your fiat money at any ATM.

But it remains a very simple and quick option to convert your cryptocurrencies into euros.

How to convert your cryptos into euros with a card: 

1. Go to a service of your choice and compare the fees and benefits for each card. You can try Wirex, Cryptopay or any others bitcoin bank cards available in your country.
2. Order a bank card directly on the site.
3. Send your cryptocurrencies to your bank card account.
4. Go to a traditional ATM and withdraw your cryptocurrencies in euros.

See? Here too, it’s not very complicated, it must be admitted. If you're wondering what card I use, well, I have the card Wirex and other cards elsewhere.

3. Convert your cryptocurrencies into cash with bitcoin ATMs

These special cryptocurrency ATMs are ideal if you are looking to convert your cryptocurrencies into euros.

I even think it's the royal method if you want to get cash.

ATMs (also called BTM for bitcoins) allow users to deposit fiat currency and exchange it for Bitcoin and vice versa.

This is very convenient if you are lucky and live near a Bitcoin ATM.

💃 To find out where to find an ATM, you can consult the site Radar Coin ATM.

If your country allows Bitcoin ATMs to withdraw money, it will be much easier.

Another thing to keep in mind is that you may lose money if you transact through these ATMs, as current market rates are not updated as quickly as on other ATM platforms. 'exchange. Due to the volatility of cryptocurrencies, ATMs may not be the best way to get your money in euros. Finally, check well before the course registered on the machine.

Indeed, keep in mind that to convert your cryptocurrencies into euros, the ideal is to do it when the rate is interesting for you.

Also, ATM is a very good business for the entrepreneurs among you looking to launch a project related to cryptocurrencies.

How to convert your cryptos into euros on an ATM:

1. Check if there is a bitcoin ATM near you and if you can withdraw cash from the machine.
2. Go to the ATM and get your money, simple as that.

Yes, very clearly, as I told you, it is the simplest and fastest way to convert your cryptocurrencies into euros but also and above all into cash.

Conclusion: Transforming your cryptocurrencies into hard cash is easy.

As we have just seen, exchanging your cryptocurrencies for real money is relatively easy and you have more than 4 methods to do it.

We hope this guide was helpful to you. Feel free to share your opinion in the comment section below.

If you have any questions do not hesitate!

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To buy cryptocurrencies (simple way):

 

• Public chat Coinbase (Earn €10 by buying 100 euros of cryptos)
• Public chat Binance (Complete crypto trading platform)

To generate interest on your cryptocurrencies:

• Public chat Youhodler (Earn up to 12% interest)

To secure your cryptocurrencies:

• On the wallet Ledger 
• On the wallet safepal

To have fun and play

• The best for Esport and sports betting: CloudBet

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