How to turn your bitcoins into real, hard cash

It can take a very long time to build up a substantial amount of Bitcoins, but when you’ve done it, you’re going to want to turn it into real, hard cash so that you can invest it into something! Unfortunately, transferring Bitcoins to cash is a bit of a time consuming and expensive process. However, it can be done. There’s really only one way to go about doing it, and this is via an exchange. A Bitcoin to cash exchange can be done in a couple of different ways.

Directly

A direct exchange does require a significant amount of trust from both parties but is by far the simplest method of getting cash in exchange for your Bitcoins. All you need to do is find someone who is in search of some Bitcoins- a commodity that you can, of course, offer them. Decide on an exchange rate between yourselves  or use one from the stock market to find the monetary value of bitcoin and then make the transfer. This is where the element of trust comes in because once you’ve released your Bitcoins, there’s no guarantee they’ll agree to their end of the bargain and send you their cash. However, if you’ve vetted the individual out beforehand and everything seems okay, then this should be a good method for you to quickly exchange your Bitcoins over!

Via a website

There are some sites online that are designed to exchange your Bitcoins in the same way that you would be able to do it directly. However, the website provides you with a level of security and reliability, knowing that you will definitely get money back in exchange for your Bitcoins. However, that being said, the fees on these cash converter sites can be relatively high, meaning you could lose out on a large chunk of the money you’re getting in exchange for your Bitcoins. It’s often better to opt for a direct exchange that you’ve set up yourself with someone else unless you’re looking for an additional level of security from a website.