We have to agree that most if not all cryptocurrencies are decentralized, and no government or state is in charge. They use a distributed ledger where any users across the globe are involved to approve transactions. Whether you use an exchange broker to transact or do it directly on the blockchain, it will go through the same process to withdraw cryptocurrency or even buy it.
If you have been in the crypto business for some time, you probably know this by now. Relatively new crypto enthusiasts deserve to know more about how they can withdraw cryptocurrency through safe and legal ways to avoid losing their investment.
That said, let’s go through them here.
Withdraw Cryptocurrency Through Online Exchanges
Cryptocurrency is almost synonymous with online exchanges because this is where a large percentage of trading occurs. Investors buy and sell their Bitcoins, altcoins, and stable coins from these platforms directly from their computers or mobile phones.
- Due to high integration with other service providers, it is easy, safe, and secure to do cryptocurrency withdrawal straight to your bank card. But this is not the only option. You can also cash in your crypto on online payment platforms. You can trust these platforms when you want to safely withdraw cryptocurrency:
- Coinmama – This globally-accepted online exchange has fast, secure, and affordable services. But you need an account to cash out or sell your digital assets for cash fast. The account will help you link the crypto wallet to deduct crypto and the bank card to send your cash. According to those who have used this option, the process only takes a short time.
- eToro – Clients can withdraw crypto from eToro to their safe wallet and then to their bank card using the eToro money app. Those who need it today should download it straight to their phones to enjoy it. The platform charges for these services and the fee plans are very affordable. It is also a secure platform that has gained popularity in Europe and the UK.
- Binance – Binance is evolving very rapidly. Exchange brokers have new products every other day. However, buying and selling crypto is still their core function. When you want to withdraw crypto, try the Binance platform, which is very easy to use. Just like many other exchange platforms, Binance requires you to create an account and verify your details. The good thing is that this popular platform is very secure and safe to withdraw cryptocurrency from.
Physical Crypto Exchanges
Surprisingly, some innovative crypto exchanges have come up with physical exchanges where investors can walk in and transact. If you are not tech-savvy or prefer to get assistance from an agent to sell your crypto for cash, this is a great option for you to choose from. Try these two physical exchanges if you are lucky to be where they are located.
- Nakitcoins – Are you looking for a safe secure platform to withdraw cryptocurrency such as Ethereum, Ripple, and Dogecoin, among others? Nakitcoins has physical outlets in Turkey and can help you to safely withdraw crypto onto your bank card. They have standby agents to help you register an account and complete the cash-out process. Check them out today to learn more.
- Coinbase – This is a USA-based crypto exchange with physical outlets in many states. The process is assisted by an agent, so moving your money onto a bank card in the USA is very fast. You just need to have an account with the broker to enjoy fast transactions. The popularity of the platform is a result of the high security and affordable fees.
Withdraw Cryptocurrency Through Peer-to-Peer Exchanges
Besides online and physical exchanges, one can also use P2P exchanges to facilitate cryptocurrency withdrawal. The platforms are decentralized and their job is to connect buyers and sellers, who decide on how to transact.
Many companies list their interest to buy crypto from sellers, so as soon as you click the sell button on the platform, you will see a list of buyers to choose from. The rates may vary because of the fees involved to do the withdrawal process. When selling to an individual, you can arrange to meet and can get paid using cash or process the withdrawal using the platform for a fee.
The Localbitcoin platform is an excellent example of a successful P2P platform where you can withdraw cryptocurrency with ease. Together with other popular platforms, they have a larger user base, which is why they have made their transactions so fast.
Most P2P platforms are backed by strong community interactions, which makes the process very easy. If you want to socialize and learn more as you withdraw crypto, these are the platforms to try.
Initially, there were only Bitcoin withdrawal machines, but they have now added other digital coins. Check on the web to find the nearest crypto ATM in your area to help you withdraw cryptocurrency into cash or send the fiat money to your bank card.
It is easy to use a crypto ATM and you do not need an account with the service provider. But you will need to input your crypto wallet and bank account. As soon as you complete the procedure of selling your crypto, cash will be sent to your bank card. Some ATMs allow instant cash withdrawal from the ATM in your local currency.
Use a Savings Account
A savings account is a yield-farming account that helps investors earn interest. So, how can you do cryptocurrency withdrawal on these platforms? When your interest has matured or your loan has been approved, the digital coins are sent to your account where you can transfer them into a digital wallet for withdrawal.
Some saving platforms have integrated exchanges to make the process simpler. They list the compatible fiat currencies that you can withdraw to your bank card or online payment platforms.
Crypto enthusiasts and investors have many ways to withdraw cryptocurrency. From the above list, at least one will meet your needs. Choose well and make sure that your platform can send the money right to your bank card for convenience. After all, everyone is now buying with Visa or Mastercard all over the world.