Despite first being launched over a decade ago, Bitcoin is continuing to make waves in the digital currency world. If you own some bitcoins in your wallet, you may eventually want to convert some of them into cash. Thankfully, crypto platforms, such as Nakitcoins, offer a seamless way to exchange Bitcoin for cash.
The belief that cryptocurrencies will eventually replace fiat is a key factor that is influencing investors who want to jump onto the Bitcoin bandwagon. In theory, people will one day make all kinds of everyday purchases using Bitcoin when the global community fully accepts crypto.
How do you cash in Bitcoin?
As of today, only a few businesses and individuals have accepted Bitcoin as a legitimate payment method. This means if you need money urgently, converting your Bitcoin to cash is the best way to get access to your funds. In other situations when the Bitcoin market is falling, converting your BTC to cash is a smart move as it allows you to mitigate against massive losses.
How to convert Bitcoin to cash using Nakitcoins
Nakitcoins is the number-1 crypto cashpoint/broker in Turkey. With Nakitcoins, you can sell your Bitcoin for cash instantly with no limits.
Selling Bitcoin instantly for Cash at Nakitcoins’ offices is a safe and fast way to convert your BTC into cash at a low cost.
Here is an ultimate guide on how to change Bitcoin to cash using Nakitcoins
- Create a user account with Nakitcoins if you don’t already have one. All you need is an email address.
- Proceed to sell Bitcoin from your Nakitcoins account
- You may also visit their offices in Turkey to convert bitcoin to cash with NakitCoins
- Inform the cashier that you want to make a Bitcoin withdrawal from your account. The Nakitcoins cashier will withdraw your cash for you as requested. A 1% fee is charged on your transaction.
- In some cases, Nakitcoins may charge a 2% fee depending on the market price
- All in all, it will not cost you more than 3% to sell your Bitcoin using Nakitcoins
Alternative platforms to transfer bitcoin to cash
If you prefer to sell Bitcoins on online marketplaces, then peer-to-peer decentralized exchanges may be good alternatives. You will have to sign up with a trusted P2P platform such as LocalBitcoins and Paxful to sell your Bitcoin for cash.
Some exchanges have strict KYC identity verification procedures that you will have to meet before you can trade on those platforms.
It helps to properly set up your account in advance when you are thinking about how to convert the bitcoins in your wallet to cash through peer-to-peer trading platforms. Exercise a deep sense of security while you are selling your Bitcoin in a direct manner.
When it comes to online Bitcoin marketplaces, the trades are automated between the buyer and seller. The selling process may allow you to create your sell order at your desired rate. The exchange alerts you when a buyer clicks on your offer and confirms making a payment, after which you can release the bitcoins.