So you have a few dozen bitcoins in your wallet that you need to sell for cash. Now you are wondering how to cash in bitcoins fast and easy. Sure you can spend them on pizza as well as loads of electronic gadgets via an online retailer that accepts cash in bitcoins but perhaps you are looking to cash your bitcoins into US Dollars so that you can spend that cash at McDonald’s or Starbucks or the grocery store or any brick and mortar store that does not accept bitcoins just yet.
Let’s face it, bitcoins are great and you can flip those BTC into almost any alternative coin at your favorite btc exchange like btc-e but the simple facts are bitcoin is not a widely accepted currency outside of the internet. You can’t pay your car loan or house mortgage with btc just yet. You can’t pay your cell phone bill or your credit card bill today with bitcoin. Perhaps someday you will be able to but right now you can’t, so you need to cash in your bitcoins.
Alright, so you need to find a place to cash out bitcoins. The most obvious place is one of the many alternative coin market exchanges. The process of converting bitcoins to cash at an exchange can be terribly slow but if you are not in a huge rush, it’s probably a safe method and you will sell Bitcoin for cash at a good price. We have compiled some very good websites where you can sell your Bitcoins in a timely manner. Please note that any illegal activities are strictly forbidden by all of these exchangers, so the user is the sole responsible for their own actions.
List of Best Websites to Sell your Bitcoins
Below is a list of some of the best websites that will allow you to cash out your Bitcoins:
1- CashforBTC.com is a relatively new Bitcoin exchanger, yet it is one of the best places where you can convert your Bitcoins to cash. Trades are completed within 30 minutes, which is very fast. At 5% rate, their exchange fee is among the lowest in the market, which is very hard to beat. Customers don’t need to provide any documents to withdraw Bitcoin into USD, EUR, GBP or any other currency. Many websites will require you to sign up for account and provide so many
personal info, which defeat the purpose of Bitcoin being an anonymous decentralized currency.
Unlike those exchangers, this website requires no sign up, so you can quickly and easily
turn Bitcoin into real money. They have a minimum order of 0.3 BTC and a maximum order of 15
2- BTC-E.com is a large and popular bitcoin exchange. BTC-E has a sort of complicated sign-up process than other exchangers, so if your in a hurry, forget it. In order to deposit USD or withdraw USD you have to submit some personal information like a scan of your drivers license and a home billing receipt as well as a social security number. The entire sign-up process can take a few weeks but once you are in, you are in. Similar to mtgox, BTC-e charges a fee for each transaction and a fee for withdrawals. Once again, a bank wire transfer is the easiest method to get USD in and out of BTC-e.
3- Localbitcoins.com is a site dedicated to finding local buyers and sellers of bitcoin. From this web site you should be able to locate an individual willing to purchase your bitcoin for cash, check, money order or Paypal. The transaction is not without risks but the opportunity to get cash in hand could out weigh the risks involved. No documents are needed to exchange your Bitcoins to cash here.
4- Tradebitcoin.com is another site similar to Localbitcoins where you can easily find a person local to you that is willing to buy or sell bitcoin.
5- Bitstamp.com is a rather new bitcoin exchange but it has gained lots of users. Deposits and Withdrawals can be done via a bank wire transfer and usually take 3-5 business days.
These are just 4 of the largest and more popular bitcoin exchanges but one theme remains constant with each exchange, getting your cash withdrawn from the exchange can be slow and painful. Due to these limitations, if you do not already have an account setup on an exchange another alternative to cash in your bitcoins may be in order.
6- ebay. Most coiners don’t think of eBay when it comes to buying and selling bitcoin but the fact of the matter is, bitcoin is becoming widely popular on eBay. You could easily post a 1 day auction for your bitcoin on eBay and have funds in your Paypal account soon after. Keep in mind that Paypal reversals are possible so make sure you limit who can bid on your auction and keep the amount of bitcoins per auction small (no more than 1 BTC per auction and preferably less!).
These are just a few methods I have used to cash in bitcoins. There are others like visiting online forums and finding perspective buyers or putting ads in online classifieds. The main point is, the original sell can take some time but once you find your preferred method, selling your bitcoin will be less of a chore and more of a reward!
PS: Since Bitcoin transactions are irreversible, we recommend that you do your research before you do business with any of these websites.
you sell bitcoin for cash easily using one of the websites in the list.