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How to Cash Out or Sell Bitcoin for Fiat (USD, EUR, Etc.)

For cryptocurrency newcomers, one of the most common things they want to understand is how to cash out Bitcoin or withdraw from Bitcoins to fiat currency (USD, EUR, Etc.).

Regardless of the reasons, a time may come when you want to turn your Bitcoin into government-issued currency.

So, how exactly can you get fiat cash or dollars for your Bitcoin?

How to Turn Bitcoin into USD or other Fiat Currencies

When it comes to selling your Bitcoin, you essentially have two options. Although they both have their advantages and disadvantages, both suffer from the same challenges, such as a lack of mass user awareness and unclear remediation processes.

Sell Bitcoin Through an Exchange

By far the most popular way of turning Bitcoin into fiat currency is through centralized exchanges such as Coinbase and Gemini.

With sleek user interfaces and KYC (Know Your Customer) processes required as part of account creation, these exchanges will let you link your funding bank account for withdrawal making the process easy and painless.

How to turn Bitcoin into USD through Coinbase

So, you have your Coinbase wallet with your Bitcoin sitting in it and you are ready to send your funds back to your local bank account. Follow these steps:

Navigate to the Buy / Sell section of your wallet

Coinbase buy and sell

After you are in the sell section of the wallet, you can select the wallet you wish to sell from and the bank account you wish to deposit to.

Decide how much you want to cash out

Enter the amount of USD that you want to get from selling your BTC. When you enter this amount of USD Coinbase will automatically calculate the amount of BTC it would cost to get that corresponding amount of USD.

If you don’t have the amount of Bitcoin in your wallet? Coinbase will notify you and tell you to enter a new amount.

Coinbase Bitcoin Cash Out Limit

What to Expect After Requesting Cash Out

Confirm the amount you wish to sell, take note of the fees (they will be shown before you sell), and then click “Sell Bitcoin”.

The ACH system used by Coinbase usually takes a few business days to complete after a sell or withdrawal is initiated.

Coinbase Cash Out

How to turn Bitcoin into USD through Gemini

Another popular option in which users can buy, sell and exchange their Bitcoin into USD is Gemini. Gemini boasts some sleek trading features, and like Coinbase, will help you trade your Bitcon for Cash.

Getting ready to sell your Bitcoin

Gemini Buy Sell

Head over to the Sell section of Gemini to choose how you want to sell your Bitcoin and the price you are willing to sell your Bitcoin in fiat for. Unlike Coinbase, you first need to trade your Bitcoin for fiat currency, before being able to withdraw it to your bank account.

Get the USD value for your Bitcoin and prepare to withdraw it to your connected bank account

Now it’s time to send the USD that you just got to your connected bank account.

Choose a withdrawal destination that you are familiar with and the amount of USD you want to formally transfer funds into.

Like Coinbase, it will take Gemini a few business days to send you the funds.

That is all it takes. Once you have the bitcoin on an exchange, such as Coinbase and Gemini, you can painlessly sell it.

Turn Your Bitcoin into Physical Cash with Peer-to-Peer Services

For those of you looking to trade your Bitcoin directly for physical cash, a peer-to-peer service may be a better solution, albeit more complicated than using a traditional cryptocurrency exchange.

However, there aren’t any services we’re aware of to recommend. LocalBitcoins was a leading service operating since 2012, but shut down in 2023. People could post their own bids for the buying and selling of Bitcoins to USD or other local fiat currencies.

It shut down for a few notable reason.

First of all, there was no identity verification, a clear thorn in the side of any regulating body.

Prices were also all over the place– there were sometimes great arbitrative opportunities depending on how urgently someone wanted to sell their BTC.

A screenshot of the now defunct LocalBitcoins

How did LocalBitcoins Work?

Find or Post your Deal: After determining the amount of BTC you want to sell, find a deal that suits your payment method (currency-wise) or post your own listing.

LocalBitcoins gave each user a feedback score similar to eBay where users can get comfortable with the history and number of deals the buyer has completed through local bitcoin.

Initiatng the Trade: Now that users know the buyer, they’d send the details of exactly what they want from them and make sure they are complying with the terms of the trade. These will tell you where and how you will receive your USD payment.

Finish the transaction

Now that all parties have agreed on the transaction and ironed out the specifics in the inbox section of LocalBitcoins, the Bitcoins will be moved from your wallet to the trade escrow. At this point, the buyer will get your payment details (how do you want to get paid for your BTC) and release the USD equivalent in cash over to you in the agreed-upon manner. When you have received the payment, you’d confirm to Localbitcoins.com that the payment has been made and the BTC will be released to the buyer from trade escrow.

And that’s how a direct peer-to-peer trade would typically go down on LocalBitcoins, which doesn’t exist anymore. Will any services spin up to take its place? Time will tell. Regardless, proceed with caution and be sure you are operating in clear legal territory.

Final Thoughts: How to Sell Your BTC for USD

As Bitcoin and cryptocurrency continue to explode in popularity, more and more services are coming online to help users get their hands on Bitcoin or turn their Bitcoin into USD or other fiat currency in a quick and effective way.

Although much of the attention is on how to acquire Bitcoin, it’s important to understand the options you have to withdraw your Bitcoin and what the best ways are to do it.

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Bitbot’s presale frenzy grows as $1.1M is raised: Can $BITBOT claim a 100x gain?

Bitbot has generated FOMO due to its self-custodial features. The project runs a $100,000 airdrop with $1,000 rewards. $BITBOT carries a 100x potential amid presale frenzy and unique strengths. Crypto trading on Telegram bots gathered phase in 2023. This came after the launch of popular tokens such as Banana Gun and Unibot. Both saw unprecedented…


bitbot crypto trading bot website homepage
  • Bitbot has generated FOMO due to its self-custodial features.
  • The project runs a $100,000 airdrop with $1,000 rewards.
  • $BITBOT carries a 100x potential amid presale frenzy and unique strengths.

Crypto trading on Telegram bots gathered phase in 2023. This came after the launch of popular tokens such as Banana Gun and Unibot. Both saw unprecedented gains, cementing the status of Telegram bots as an unstoppable crypto phenomenon. Bitbot launches when this frenzy is still alive while guaranteeing added security advantages. This has created a frenzy for the token, with the presale raising more than $1.16 million through stage 6. Consequently, Bitbot has been labelled a 100x token amid its self-custodial features. Let’s investigate more about this token.

Bitbot generates FOMO: What is its unique value proposition?

The key to Bitbot’s popularity is intense speculation. This is the first Telegram trading bot project offering self-custodial features. But what does this mean?

Trading on Telegram trading bots has been beset with controversy. The exploits of leading projects such as Unibot and Banana Gun showed how less protected investors are. This has been caused by the fact that these projects are custodial. They hold users’ private keys and assets, exposing them to potential losses if their accounts are compromised.

With self-custodial features, Bitbot allows users complete control over their assets. Users control their private keys, meaning no one can steal their assets if the platforms are exploited. This is an advantage to users seeking greater control and peace of mind when trading on Telegram trading bots. 

Owing to the self-custodial features, Bitbot has generated a frenzy that the token could explode when listed. Similar price trends have been recorded in other Telegram trading bots launched earlier. As such, Bitbot’s superior strengths could fuel higher price movements and return more to investors.

In addition to being self-custodial, the project is attractive with its enhanced security mechanisms. The wallet is secured by KnightSafe security protocols for institutional-grade reinforcement. There are other safety enhancements, such as anti-rug features. 

The all-around protections have created an expectation that $BITBOT is a huge potential token. The frenzy is underlined by the rapid presale and token predictions, which are as high as 100x. 

Bitbot: Profitable token with up to $100K airdrops and 50% revenue shares

The number of followers on Bitbot’s socials has grown rapidly, thanks to profitable offers. An example is Twitter, which has over 114,000 followers. The attraction has been due to the profitable opportunities posted on the platforms. The notable one is the $100,000 airdrop that has attracted fans. 

The competition is open to all fans globally. Winners stand a chance to walk away with $1,000 worth of Bitbot tokens from a $100,000 prize pool.

The prelaunch offer is ongoing, with users needing to act on Bitbot to win odds. One just needs to participate in Bitbot, share about the project, subscribe to its mailing list, and more. Winners will be rewarded right before the project kicks off. 

Bitbot is also a source of long-term passive income generation. Token holders get a share of 50% of transaction fee revenue generated from the platform. Aside from enjoying seamless trading through an app, one grows their investment over time. The unique advantage over rivals makes Bitbot a very attractive trading platform. This generates value for the token, unlocking its future potential.

Can $BITBOT rise by 100x?

Telegram trading bots represent the future of trading, and statistics back this up. The sector has witnessed over $13.6 million in cumulative trading volumes. This is an advantage to the Bitbot token, debuting when a market frenzy unfolds. As such, the debut could be met with wild price movements.

Whether $BITBOT can rise 100x is speculative. However, rival tokens, which carry lesser superior features, have risen by approximately similar margins. As such, $BITBOT carries the potential to claim a 100x gain. A robust presale and speculation cement the token’s status as a potential big gainer.

To purchase $BITBOT while on presale, investors can visit the project’s website page.


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