Did you happen to have some Bitcoins accumulated over the years, and you now think it is the right time to sell them and turn them into real cash? It is not surprising that many people have saved Bitcoins since it was way cheaper few years ago, and now that the Bitcoin price is surging, it is a no-brainer for these people to seek ways to withdraw their Bitcoins into cash and spend it on things, such as paying for bills, buying electronics, properties, cars…etc, that would be otherwise difficult to purchase with BTC.
Bitcoin is the digital currency of the future, but it will be in several years till it becomes mainstream or accepted at retail stores, gas stations or restaurants. But till then, the only way to spend those coins is by first converting them to USD, Euro, GBP or other real world currencies. In 2017, Bitcoin has skyrocketed and appreciated over 100% compared to the previous year, and is expected to keep on climbing and potentially hit over $3000 USD by the end of the year. According to some analysts, in the next few years the price can easily be in the 5 figures. However, not everybody can hold their BTC for that long, and instead prefer to cash them out now for various reasons.
Back in 2011, a bitcoin could barely buy you a slice of pizza, and now the price has multiplied by hundreds that can yield you serious cash. In order to save you lots of time searching on the internet, we already have done the research for you. So let’s cut the chase, and show you the top 5 exchangers where you can sell bitcoins for cash.
5 Best Bitcoin to Cash Exchangers:
Check out our 5 top picks for the websites where you can sell bitcoins for cash:
1- CashBitcoins.net: this website gives customers the ability to quickly sell Bitcoins and receive Cash in return. Unlike many other exchangers, you can withdraw Bitcoins into real money without having to provide any documents or personal details; thus, making it very anonymous. No sign up is required for customers to initiate the trade. Moreover, at only 5%, the fee to exchange your Bitcoins is among the lowest in the industry, which is very hard to beat. You will have the option to withdraw Bitcoins into cash, using the following payment methods: Paypal, Western Union, Moneygram and Bank transfer. Customers can cash in up to 25 Bitcoins per each transaction. No matter how you look at it, it is one of the best deals out there that you cannot ignore!
Our Rating: 4.5/5
2- LocalBitcoins.com: Is a recognized name when it comes to bitcoin trading. This is a peer to peer trading platform, which facilitates acquiring or selling Bitcoins for cash. Both buyers and sellers will be required to provide passport scan to prove their identity. LocalBitcoin.com is a major player when it comes to buying and selling Bitcoins. You can also meet people that are interested to buy or sell BTC locally, which is a nice touch. Cash deposit, Reloadit, Moneypak, Western Union, Moneygram, Paypal are some methods that can be used to receive the payment for your Bitcoins.
Our Rating: 4/5
3- Coinbase.com: It was founded in 2013, and it is among the best Bitcoin online exchangers. Their rates are good, but they only offer payment via Bank transfer, which can take a few days to process. Also, customers will be required to provide documents along with Social security number for verifications, which can be quite a turn off for many people.
Our Rating: 4/5
4- BTC-e: This one can be really difficult to use, due to the fact that customer are asked to provide documents prior to trading, such as bank statements, passport and/or driver’s license. This process can take really long. So if you are in a rush to sell your Bitcoin for cash, then we don’t recommend this one. But the moment your account is verified, you will enjoy many benefits such as trading BTC for Cash or other cryptocurrencies such as LTC, ETH, DSH and NMC.
Update: BTC-e went offline due to the scandal surrounding the arrest of one of its owners in charges of money laundering.
Our Rating: 3.5/5
5- E-Bay: You might be surprised to see ebay making it on this list. But the fact of the matter is that it is used by many traders to sell their Bitcoins. This, however, does come with some serious risks that can leave you with no coins if something bad is to happen. For example, if someone uses a hacked/stolen Paypal account to purchase Bitcoins from you on ebay, then the real account holder opens a dispute for unauthorized transaction, chances are you will lose the dispute, add that to the fact that Bitcoin transactions are irreversible. To protect yourself against this, you can greatly limit the amount of Bitcoins you can sell for each individual, and avoid dealing with brand new users.
Our Rating: 3/5