Doing business with cryptos is one thing. But what when it comes to exchanging your cryptos into cash?
Most of crypto exchanges accept credit cards, bank wire or payment processos like paypal to deposit cash (fiat currency). From the moment you have deposited some cash you can start trading with the available currencies. So far so good.
When you are doing well and making profits with your trading operations, you would like to withdraw from time to time.
Since not enough merchants are accepting crypto currencies yet, you need to exchange your profits into $, € or whatever other fiat currency.
Now we could have a problem! All of the exchanges have the option to withdraw your assets into your (or others) wallet adresses, but most of them don't give you the possibility to exchange and withdraw into fiat.
Therefor I went for a search to look for easy ways to cash out your cryptos.
Gemini
Unlike most others on this list, Gemini is a fully regulated exchange licensed in the US, meaning that they’re held to a similar set of rules and standards as a bank. Gemini sports a great, minimalist user interface but you can only trade in Bitcoin, Ether and USD and the service is only available in 42 states, Canada, the UK, Hong Kong, Japan, Singapore and South Korea.
PROS: Highly secure, user-friendly design, great analytics tools, no deposit or withdrawal fees.
CONS: Limited to USD, BTC and ETH, available in only a handful of locations.
CEX.IO
CEX.IO trades in most major cryptocurrencies and support USD, EUR, GBP and RUB fiat currencies. The platform is intuitive and user-friendly but also powerful enough for professional traders, and has a good reputation for security.
PROS: Accepts credit cards, mobile-friendly, worldwide availability.
CONS: Long verification process, high deposit fees, limited customer support.
Bitstamp
Bitstamp is the oldest exchange standing, having launched back in 2011. Both EUR and USD are accepted and multiple deposit methods (including credit card) are supported. As the third-largest Bitcoin exchange by volume, Bitstamp is a very reliable option.
PROS: Well-known for reliability, accepts credit cards, fee structure makes it a good choice for large transactions.
CONS: Poor user interface not recommended for beginners, can only trade Bitcoin for fiat currencies.
Coinbase
Coinbase is a customer-centric exchange, meaning it’s an excellent place for people new to cryptocurrency. It’s one of the most popular solutions around because of its low transaction fees and ease-of-use, but Coinbase only supports a limited amount of features, currencies and countries.
PROS: User friendly, low fees, stored currency is insured, a variety of deposit and withdrawal methods supported.
CONS: Limited availability, only supports Bitcoin, Ether and Litecoin.
Kraken
Almost as old as Bitstamp, Kraken was founded as a Bitcoin exchange, and only recently expanded into altcoins. Unlike most on this list which require you to exchange fiat currencies to and from Bitcoin before trading in other altcoins, Kraken allows Ether, Ripple, ZCash, Monero and several others to be traded for fiat currency.
PROS: Reliable, supports a variety of trading pairs between cryptos and EUR or USD, low withdrawal fees.
CONS: High deposit fees, not the most intuitive design (recommended for experienced traders).
These are few options to proceed, but they are still a kind of cumbersome.
So if you ask me the best way to do, I would suggest payza.
I quote:
"Payza has a great new option for you. The Payza Card and Payza cryptocurrency loading options let you go from cryptocurrency to cash in a matter of minutes. And we’re working on ways to make that process even smoother! Order your own Payza Card today and find out just how fast and simple it can be to turn digital money into cold hard cash."
Hope this helps all of us.
I forgot an important one:
Dether.io
I have talked about it in some previous posts.
Most of crypto exchanges accept credit cards, bank wire or payment processos like paypal to deposit cash (fiat currency). From the moment you have deposited some cash you can start trading with the available currencies. So far so good.
When you are doing well and making profits with your trading operations, you would like to withdraw from time to time.
Since not enough merchants are accepting crypto currencies yet, you need to exchange your profits into $, € or whatever other fiat currency.
Now we could have a problem! All of the exchanges have the option to withdraw your assets into your (or others) wallet adresses, but most of them don't give you the possibility to exchange and withdraw into fiat.
Therefor I went for a search to look for easy ways to cash out your cryptos.
Gemini
Unlike most others on this list, Gemini is a fully regulated exchange licensed in the US, meaning that they’re held to a similar set of rules and standards as a bank. Gemini sports a great, minimalist user interface but you can only trade in Bitcoin, Ether and USD and the service is only available in 42 states, Canada, the UK, Hong Kong, Japan, Singapore and South Korea.
PROS: Highly secure, user-friendly design, great analytics tools, no deposit or withdrawal fees.
CONS: Limited to USD, BTC and ETH, available in only a handful of locations.
CEX.IO
CEX.IO trades in most major cryptocurrencies and support USD, EUR, GBP and RUB fiat currencies. The platform is intuitive and user-friendly but also powerful enough for professional traders, and has a good reputation for security.
PROS: Accepts credit cards, mobile-friendly, worldwide availability.
CONS: Long verification process, high deposit fees, limited customer support.
Bitstamp
Bitstamp is the oldest exchange standing, having launched back in 2011. Both EUR and USD are accepted and multiple deposit methods (including credit card) are supported. As the third-largest Bitcoin exchange by volume, Bitstamp is a very reliable option.
PROS: Well-known for reliability, accepts credit cards, fee structure makes it a good choice for large transactions.
CONS: Poor user interface not recommended for beginners, can only trade Bitcoin for fiat currencies.
Coinbase
Coinbase is a customer-centric exchange, meaning it’s an excellent place for people new to cryptocurrency. It’s one of the most popular solutions around because of its low transaction fees and ease-of-use, but Coinbase only supports a limited amount of features, currencies and countries.
PROS: User friendly, low fees, stored currency is insured, a variety of deposit and withdrawal methods supported.
CONS: Limited availability, only supports Bitcoin, Ether and Litecoin.
Kraken
Almost as old as Bitstamp, Kraken was founded as a Bitcoin exchange, and only recently expanded into altcoins. Unlike most on this list which require you to exchange fiat currencies to and from Bitcoin before trading in other altcoins, Kraken allows Ether, Ripple, ZCash, Monero and several others to be traded for fiat currency.
PROS: Reliable, supports a variety of trading pairs between cryptos and EUR or USD, low withdrawal fees.
CONS: High deposit fees, not the most intuitive design (recommended for experienced traders).
These are few options to proceed, but they are still a kind of cumbersome.
So if you ask me the best way to do, I would suggest payza.
I quote:
"Payza has a great new option for you. The Payza Card and Payza cryptocurrency loading options let you go from cryptocurrency to cash in a matter of minutes. And we’re working on ways to make that process even smoother! Order your own Payza Card today and find out just how fast and simple it can be to turn digital money into cold hard cash."
Hope this helps all of us.
I forgot an important one:
Dether.io
I have talked about it in some previous posts.
What is this thing that builds our dreams, yet slips away from us?
