So let’s say you earn in crypto, Bitcoin, or USDT, and you want to withdraw. How to withdraw money from crypto? What are your options to change cryptocurrencies and cash out from crypto to fiat?
Briefly
- Use an online exchange to withdraw money from crypto.
- Use a broker.
- Go to someone who will exchange it for a Fiat.
- Use Bitcoin exchange ATMs where available.
- Use a credit card that you can pay with your crypto account.
2024 just started, and it marks the new rally in Bitcoin and other currencies.
Many are earning their salary in cryptocurrencies; Some see the current bull run as an opportunity to cash out, and some just need to pay their expenses and want to exchange crypto for fiat.
Either way, here are some of the most possible ways you can exchange, cash out, or withdraw money from crypto.
How to withdraw money from crypto?
Use an online exchange
One straightforward approach to withdraw money from crypto or Bitcoin holdings is through a centralized exchange like Coinbase. This platform features an intuitive “buy/sell” option, allowing users to easily select the cryptocurrency they wish to offload and specify the amount.
This method facilitates a quick conversion of cryptocurrency into fiat, which then appears in your Coinbase cash balance. From this point, you have the option to transfer the funds directly to your bank account.
While Coinbase stands out as a preferred platform for many looking to withdraw from cryptocurrency, it may be more practical to utilize the exchange that currently houses your digital assets, assuming you do not have direct custody of them. Prominent exchanges for conducting these transactions include Binance and Kraken.
Depending on the exchange, some exchange fees apply.
Broker | Evaluation | Functions | Benefits | Spread | Leverage | Total Fees | Visit Provider |
|---|
 | 4.8 | CFDs: Crypto, Indices, Forex, Commodities, Shares, Options, ETFs |
| Tight Spreads | 1:300 | No internal deposit fee |
 | 4.4 | • FX
• Metals
• Indices
• Cryptocurrencies
• Stocks
• Energies
|
| Tight spreads starting from 0.0 | 1:400 | Depending on payment method |
 | 4.2 | 49 global currency pairs, commodities, index CFDs, stock CFDs, ETFs, metals, commodities, energy |
| Tight Spreads | 1:1 – 30:1 | No fees |
 | 4.0 | 1000+ financial instruments, including Foreign Exchange, Commodities, Indices, Share CFDs, Cryptos, ETFs, and Bonds |
| 1.27 | 1:500 | $3 per side for every 100,000 units |
 | 3.9 | 70 crypto-pairs, 49 forex pairs (usdzar as well), 5 metals, 26 Indices, 130 stocks, 6 oil and gas, 6 agriculture assets |
| Spreads from 0.00 | 1:999 | 3% + inactivity fee |
More information about how to register for an online exchange can be found in our guides.
Online broker
Pretty much similar to the option above, registering and exchanging crypto to fiat can be done on a trusted broker website.
Plus500 is a well-known, trusted CFD broker where you can easily register, and after a quick KYC you will be able to trade, exchange, and withdraw in USD, for example.
- Recommended broker
Our recommendation:
Invest with Plus500
Offline Exchange By a Person
Back in the 80’s, whenever you had some cash money and wanted to travel, you went to the city center and found a dodgy person that promised you a good rate.
Then, with some luck, you would get real notes and be able to change from your local currency to USD. Same here. Changing crypto to fiat from a random person holds a lot of risks.
When going to change currencies with a specific person, the easiest way is to ask a friend who he is in touch with. In case you don’t have anyone to ask, there are many communities that can be found on Telegram. Other communities can be found on the Bitcoin embassy, in case you have them close to where you live.
Note that there are some fees here as well. From our experience, people tend to charge between 3%-5%.
Bitcoin ATM / Kiosk
Withdrawing Bitcoin at an ATM is simpler than it seems, primarily due to unfamiliar terminology for some users.
Essentially, when you withdraw money from crypto Bitcoin ATM, you’re selling your Bitcoin for fiat currency like USD, EUR, or GBP. It’s crucial to identify a Two-Way Bitcoin ATM for such transactions, as they allow for both buying and selling of crypto, unlike their One-Way counterparts, which only permit purchases.
How to find a Bitcoin ATM?
Services like CoinATMRadar.com can help locate a suitable ATM, making the process straightforward. The steps involve finding a Two-Way ATM, entering transaction details, verifying your identity, and receiving cash post-confirmation.
Remember, transaction limits may apply, and KYC procedures could be required, depending on the amount and local regulations.
Someone to lean on
In other words, until there is a super simple solution, like we are currently using today for normal transactions, it is always a good idea to use professional help from someone who knows.
Cryptocurrency transactions are becoming more and more handy, and with time, you get used to them anyway.
