Cryptocurrency is becoming the number one method of exchange around the world. It is also becoming one of the most liked methods to invest money. Bitcoin is the leading and pioneer company that provides cryptocurrency coins.
When people buy bitcoin, the most common is of converting bitcoin into USD or any other currency. People know that bitcoin does not have any physical existence so people back off from investing in it.
Due to the lack of awareness in the masses, bitcoin does not get much recognition. There are two ways that you can sell or exchange your bitcoin.
Through Exchanges That Accept Fiat Currencies
There are many businesses whose main objective is to buy bitcoins. These businesses provide users with easy ways to convert their bitcoins into USD. These businesses are in the form of websites, and they send money in users’ accounts. They are very user-friendly. Some of these are:
- Bitflyer (converts into USD/JPY)
- Coinbase (converts into USD/EUR)
- CoinSpot (Converts into AUD)
- Coinmama (converts bitcoins into USD and EUR)
All these systems vary from country to country. Some countries have exchanges that work only locally. They convert Bitcoins into USD.
Via LocalBitcoins
Local bitcoin is a startup that was launched in 2012 in Finland. They work as a P2P bitcoin exchange. With time, they have gotten bigger, and now they have their business in over 15,000 cities all over the world.
Their business model is very different from other exchange methods because they let you talk to the real buyer. So, there is no middleman to take your profit. You can get your money in the easiest ways possible, which you might be using right now. You can cash out your bitcoins through PayPal, wire transfers, Payoneer, cash, and whichever method you and your dealer choose. You are also allowed to carry out the trade offline.
If your heart desires, you can even meet your dealer in person. Based on these features, LocalBitcoins is a great platform for bitcoin investors. It has eased the use of bitcoin. Since it is an exchange that works worldwide, people prefer it more than other websites to cash their bitcoin to USD.
Conclusion
Bitcoin is one of the most volatile digital currencies in terms of investment i.e. it is always changing. At the same time, the value of fiat currencies is also changing continuously, creating more volatility in the market. Therefore, you are recommended to use a bitcoin calculator, so you can stay on top of the recent market prices. There are many more ways to convert BTC to USD and any other currencies that you wish to exchange. Bitcoin also has a very thorough infrastructure, so can also buy things using your bitcoin ATM card. They can be used at your favorite restaurants, pubs, brands etc. Whenever you are converting your bitcoin to USD, make sure to check the reviews because many websites are not authentic, and you might end up losing your digital coins.