How To Cash Out Your Bitcoin
In our current times of uncertainty, even the most avid Bitcoin believers know that being able to sell Bitcoin and have fiat liquidity is a must. So while the financial revolution is going strong, for those of you who need to momentarily hit pause, Coinmama wants you to know: we’re still with you, and we’re doing it with the lowest fees possible.
It’s our way of giving back to you in these tough times!
Can you sell Bitcoin for cash?
Cash Out Bitcoin Through Peer-to-Peer Exchanges The most popular peer-to-peer exchanges you can use to convert your bitcoin to fiat are LocalBitcoins and Paxful. Many people use Coinbase and CoinJar to buy Bitcoin (and other coins) and cash out their profits through a bank transfer as their cryptocoins gain in value. Others use their accounts to receive cryptocurrency payments from friends, family members, or customers. Cashing out millions of dollars worth of bitcoin is certainly doable, and there are several ways to accomplish this, depending on your need for speed, security, and anonymity. Remember to first talk to your bank to get the green light for the transaction, and to consult with a lawyer or accountant with expertise in cryptocurrency tax laws.
Now, more than ever, your health is probably first and foremost on your mind—it is on ours too—but your finances may be a close second. With over 3 million Coronavirus cases and 200,000 deaths worldwide, we’ve entered a new reality. We’re in the midst of an unprecedented financial crisis, with mass layoffs regularly taking place, and some people predicting unemployment rates will hit 30%. We know that some of you may need fiat, even if it comes at the expense of the Bitcoin you’ve been HODLing.
Today, we’re making it easy to sell Bitcoin and access the fiat you need. So if you are wondering “Where do I sell my Bitcoin for cash,” look no further. We’re giving users the ability to sell up to 30,000 USD (or EUR equivalent) of Bitcoin a day, depending on account verification level, with payout directly to your bank account.
Can You Cash Out Bitcoin
What’s more, as a thank you for being part of our family, we’re doing it with the lowest fees possible. Coinmama fees on sell transactions are between 0.1% and 0.9% *, depending on your Coinmama Loyalty level.
How to transfer Bitcoin for cash using SEPA
How Do I Cash Bitcoin
If you’re part of our European family, you can transfer Bitcoin for cash using a bank account that supports SEPA transfers.
- Sign up for Coinmama, or log into your verified Coinmama account
- Click the “sell” button and enter the Bitcoin amount you’d like to sell
- Choose SEPA as your payout method
- Add your bank information, including your European bank country and IBAN
- Add your personal details
- Transfer the Bitcoin amount from your own wallet to the wallet address provided
- Once the coins have been confirmed on the Blockchain, Coinmama will transfer the fiat amount to the bank account provided
How to transfer Bitcoin for cash using SWIFT
Coinmama users in the United States and the rest of the world can sell Bitcoin for cash using a SWIFT bank transfer.
- Sign up or log into your Coinmama account
- Select “sell” and enter the Bitcoin amount you’re selling
- Choose SWIFT as your payout method
- Enter your bank country, bank account number, and routing number or Bank Identifier Code
- Complete your personal details
- From your own wallet, send the Bitcoin amount to the wallet address provided
- As soon as the coins have been confirmed on the Blockchain, Coinmama will send the fiat amount to the bank account provided.
For more information on how to sell Bitcoin with Coinmama, visit our help center.
Sell now with Coinmama. Or Sign Up Now.
Coins are liquid with Coinmama; it’s our way of giving back and extending a (remote) hand during these stressful times.
* Additional charges may apply.