Days ago, a reader’s curiosity reached the writing group to know how bitcoins could be transformed into real money and into local currency.
After this, we got down to work to test different fast and safe alternatives. For want of one, we have run into up to 3 options in which anyone can perform Forex trading in minutes. This is how each of them works.
Coinbase, one of the most used worldwide
We could not pass up Coinbase because it is one of the most used alternatives to transform bitcoins and other cryptos into real money. The process to create an account and send bitcoins to the wallet is similar to the previous one, although to sell the thing is different.
In this case, you will sell the bitcoins to the same platform and the company will make the transfer for you in an average of 2-3 days. To do this, you will have to click on the option Sell and enter the desired amount of money to confirm the transaction.
It is important to keep in mind that Coinbase is a bit more limited than LocalBitcoins, because although it offers its service to more than 100 countries, it only supports selling in 41 nations.
As a reminder, it is logical that to be able to change this money to your national bank account it is necessary to first register in either of the two platforms, as well as to have the bitcoins available after having made the transfer successfully. The interesting thing about each one of them is that the commissions for the purchase are too low, as is the case with transfers between Bitcoin wallets.
LocalBitcoins
LocalBitcoins has become a good option to save bitcoins and then sell them in the fractions you want. Its operation is quite simple if we follow the steps to the letter:
– Once we register, we look for the option Receive bitcoins, in which we will see the address of the wallet to be able to transfer the desired amount of bitcoins.– When the bitcoins are already in the wallet, you have to press on the option Sell Bitcoins.– In the next step you must enter the amount of money you expect to receive, the local currency (there are more than 150 available), the country where you are and the form of payment (transfer with a specific bank, Western Union, PayPal, cash deposit, among others).
– When you have pressed on Look forYou will see a list of buyers available to receive your bitcoins and transfer the equivalent money to your bank account. – After the above, it is recommended to verify the reputation of the seller by clicking on his name to see the comments of other users. After this, you can click Sell to see the details of the trade. – Finally, you must enter the payment details in the message box, so the buyer will see them and can transfer as soon as possible to finish the operation.
Having done the above, you should wait for the payment receipt to be sent by the buyer in the same tab.
In addition to everything mentioned, it must be said that LocalBitcoins has a fairly good seller protection policy, where, after sending the amount of bitcoins to the buyer’s wallet, These have to be released once it has been verified that the money is available in the bank account. In other words, as soon as you see that the money is in the account, you can finish the exchange by releasing the money.
Another point to note is that if the buyer does not respond within 90 minutes, the operation will be automatically canceled and you will be able to have the amount of bitcoins you were going to sell available again.
It may seem like a torment to sell bitcoins through this platform, but it should be noted that the process becomes much easier when it is done the second time. You just have to be careful when entering the bank account details so as not to make mistakes and check the buyer’s reputation.
Another option that allows you to change bitcoins into real money
Although we haven’t tried this alternative, I know that it also enjoys a good reputation from thousands of customers today. We are not talking about anything other than the currency market. Through brokers to carry out trading you can trade different financial instruments such as stocks, currencies and of course, also cryptocurrencies. Among the most used platforms are eToro and Plus500.
So, you should know that it is not difficult to exchange any of these alternatives for bitcoins, and then convert the amount you have into real money, which can be sent to the registered bank account.
It is clear that This last option is the most complicated in case you do not have stocks or cryptocurrencies on the platformWell, then it will most likely take you longer between buying and then selling.
