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Selling Bitcoin and Other Cryptocurrencies: A No-BS Guide
So you've made some money on your Bitcoin and now you wanna cash out? I've been there. After watching BTC hit another ridiculous all-time high, I decided to take some profits myself. Let me walk you through how I did it without all the corporate jargon.
The Two Ways to Get Your Cash
Look, there are basically two ways to turn your crypto into actual money you can spend:
Quick Method: Withdrawing Existing Fiat
If you've already converted your crypto to cash and it's sitting in your account, just:
Remember though - your trading account and bank account MUST match names. They're super strict about this anti-money laundering stuff. And you'll need to withdraw at least $10 or whatever minimum your platform has.
Full Process: Converting Crypto to Cash
On Desktop:
On Mobile App:
Most platforms have both "Pro" and "Lite" versions of their app. If you're not a day trader, just use the Lite version:
I tried both methods last week when BTC was pushing $110K, and honestly the app was faster. The fees were the same, but the desktop interface kept lagging - probably too many people trying to sell at once!
And that's it. Your money should hit your bank account pretty quickly depending on your withdrawal method. Remember that P2P transfers can sometimes be faster but carry different risks.
The hardware wallet crowd will tell you to HODL forever, but hey, sometimes you need actual money to live in the real world. Just don't sell everything - this bull run might not be over yet!