The most popular pair with the first digital currency is BTC-USD. Bitcoin uses peer-to-peer (P2P) technology to operate without centralized governments or banks. Transaction control and issue of Bitcoins is carried out directly on the Internet. Bitcoin is an open resource, it is developed publicly, the cryptocurrency does not belong to anyone and it is not controlled by anyone. However, everyone can use it!
The Bitcoin rate has grown significantly in a short time and that made the BTC-USD pair more popular with traders and investors. Number One digital coin has a lot of unique features. They allow Bitcoin to be used in areas of activity in which no previous payment systems could participate.
Cashing out your Bitcoins
Crypto enthusiasts will hardly get rid of their crypto assets, but a great number of people are eager to obtain ‘real money’. There are several ways to make BTC-USD transactions; you need to choose the one that suits you.
1. Crypto exchanges.
The easiest way to make a BTC-USD conversion is with the help of cryptocurrency exchanges. You can use websites or applications to make an exchange. What you need to do is sign up, deposit or buy BTC to your account and transfer them via bank account or PayPal. The disadvantage of this option is that the process can take much time. First spending time for registration and verification process and then the transfer itself can take up to 5 days.
To use this option, let’s have a closer look at LocalBitcoins platform. You sell your Bitcoins to other people and decide which payment method you want the buyers to have. To make BTC-USD conversion you can arrange cash deposit, bank transfer or even meet in person for cash. Peer-to-Peer selling is a safe method, but you should know that it is also a good place for fraudsters as, perhaps, in any system. The safety of LocalBitcoins is supported by their escrow service. It keeps your Bitcoins locked until you confirm that the payment has been received from the buyer.
3. Bitcoin ATM.
Another alternative for getting money as a result of BTC-USD conversion is using Bitcoin ATMs. You don’t need to waste time on signing-up and verification processes. There are over 5000 ATMs all over the world. You won’t have any difficulties with finding one close to you. The Coin Radar application will be of great use on this question. The biggest disadvantage of using this variant is high transaction fees. If you use online exchanges, they charge you an average 0,1%-1% fee. For using Bitcoin ATMs you will pay 7%-12% commission.
Use Bitcoins with a regular debit card
The conversion of BTC to USD take place automatically when you use a Bitcoin debit card. These cards actually convert your Bitcoin to other currencies as well when you pay for something online or offline. You can use Bitcoin debit cards anywhere in the world as long as Visa and Master cards are accepted.
Using this option, you do not need to worry about high fees and cashing out the great currency. Just use it as a regular one. There are two types of Bitcoin deposit cards: plastic and virtual. The first one is used for online and offline purchases. The virtual one is to be used when you are eager to make any kind of online transactions.
Shall I make a BTC-USD conversion?
Only you can give the answer to this question. So many men, so many minds. Crypto world is not stable and you could never know what happens tomorrow. On the other hand, crypto fans predict flourishing future for the digital invention. In any case, if you own Bitcoin, you already have belief in it. In order to make a BTC-USD transaction, there are great options to use. Crypto exchanges can be more convenient for beginners as they are convenient and safe. Peer-to-Peer method allows you to remain anonymous and sell your Bitcoins at a higher price.
Monero (XMR) is one of the most popular and traded cryptocurrencies in the world. It provides unique features in terms…
Mammon is an application for tracking cryptocurrencies. It is placed in user’s menu bar to make it convenient for a…
Cryptocurrency mining is the process of getting digital coins from nothing – at least this is what many people think….
Bitcoin has recommended itself as one of the best investment opportunities for almost twenty years. Being aware of all possible…