How to cash out your crypto into fiat currency

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Now it is very easy for anyone to convert his or her fiat currency (local money) to cryptocurrency and vice versa. Cashing out your cryptocurrency, be it BTC, STEEM, TRX, or any crypto, is now as easy as ABCD. Centralized exchanges have made it so easy for everyone to buy and sell cryptocurrency.

Even up till this moment, you can buy crypto without using a crypto exchange, which most people usually do online, which I see as a risky way of buying and selling crypto.

In this post, we will be looking at how you can cash out your cryptocurrency for local currency, also known as fiat currency, for immediate spending since crypto is not yet generally accepted in local markets.

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• You can use an exchange to sell your crypto.

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Today, we have several crypto exchanges that offer users the feature of buying, selling, and withdrawing fiat currency. In regards to this Binance exchange, Coinbase, Bybit, Roqqu, etc. offer traders and investors an easy-to-use buy or sell feature for selling cryptocurrency for fiat currency.

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• You sell using a peer-to-peer trade.

Today, most crypto traders including me prefer selling and buying crypto via peer-to-peer trading. Peer-to-peer means of buying and selling cryptocurrency are as easy as ABCD and more secure, and Binance Exchange is the largest exchange that offers peer-to-peer trade.

In a peer-to-peer trade, when you want to sell your crypto, all you have to do is ensure that you have converted your crypto to the available coins that are available for P2P trades, which have to be in your funding wallet. In this case, you would then need to go to P2P and select the coin you are holding on your funding wallets, click on sell, and then enter the amount and your bank details.

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• You can trade one cryptocurrency for another and cash out.

Some crypto can't be found on most exchanges that support direct buying and selling of crypto. In the crypto market, USDT can be found on all crypto exchanges, where you can trade that which is not available for USDT and transfer it to another wallet. Also, some exchanges support the convert of one cryptocurrency for another.

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• You can sell directly to friends.

Several crypto communities or groups make it easier for even novices to buy and sell cryptocurrency. This method is based on an agreement between the buyer and seller, which is highly risky since no escrow would bind the agreement between the buyer and seller.

Conclusion

The selling of crypto is now very easy, which is easier in some countries. In some countries, you can withdraw fiat from your crypto wallet using a crypto ATM, whereas in others, you can't. Thank you for reading and supporting me.