As more and more people embrace Bitcoin and crypto in general, the demand for the digital currency is rising. However, when investing in any kind of cryptocurrency, you need to know how to cash out your investment quickly. You should consider selling Bitcoin for cash instantly if the price of the coin is dropping to avoid making a loss, or you may have found a lucrative business you want to invest in, or for any other reason.
The good news is that you can instantly sell your Bitcoin investment for cash, and there are several ways you can do it. Below are some of the ways you can convert your BTC to fiat currency quickly:
Using Bitcoin ATMs
Contrary to the impression the name may create, Bitcoin ATMs are not the same as conventional ATMs from which you can withdraw fiat currencies. These ATMs do not connect users to their bank accounts but are instead used to enable people to transact in BTC.
If you are looking for a way to sell your bitcoins for cash instantly, then consider using Bitcoin ATMs. They work in a relatively straightforward way. You need to locate the nearest Bitcoin ATM to your location. You can use online tools to do this. Once at the machine, you simply scan your digital wallet QR code and sell your BTC to exchange it for fiat currencies like USD or others.
While Bitcoin ATMs are convenient and have the advantage of allowing round-the-clock transactions, they do have a few drawbacks, including:
- Not all Bitcoin ATMs support both buying and selling, so you need to find one that accepts selling
- Bitcoin ATMs charge higher transaction fees than other options
- The automated teller machines are not found in all places, so you may have to travel to get to the nearest
Using crypto exchanges
Another way to sell Bitcoin for cash instantly is to use crypto exchanges. Most exchanges have a longer transaction execution period. But you can use those that have offices where you can walk in and cash out your BTC within minutes.
Fortunately, if you are in Turkey, you can walk into one of the NakitCoins offices and sell your bitcoins instantly in a secure and safe environment. The exchange has several offices that allow people to buy bitcoins with USD and can also allow you to convert your BTC into USD. Also, you enjoy privacy as you convert crypto into cash or buy digital currencies with US dollars.
However, some exchanges may pose the following challenges when you want to cash your crypto:
- The account opening and identity verification process can take several days, slowing down the selling process
- Exchanges may be restricted in terms of the countries they support
Using the direct selling method
You can also sell Bitcoin for cash instantly by selling directly to people or businesses that want to buy. You may trade in person with people around you, or you could connect and sell online through peer-to-peer platforms like LocalBitcoin.
The beauty of this option of converting BTC into cash is that you can agree on the price, the most convenient payment method, and so on. However, it would be best to be cautious when meeting strangers to sell Bitcoin to them. For instance, always meet in safe, public places and, if possible, have someone with you to keep an eye on you.
It is possible to sell Bitcoin for cash instantly, and there are several ways to do so. You can use Bitcoin ATMs, crypto exchanges that allow people to visit their offices and sell or buy digital coins with cash, and you can also sell directly to interested people.