How to Change Bitcoin Into Regular Money

How to Change Bitcoin Into Regular Money

More and more businesses are accepting Bitcoin, Litecoin, and other cryptocurrencies but it can still be hard to use your crypto coins everywhere. Here are the three best ways to convert your Bitcoin into cash to use when shopping online and in store.

Get Cash With a Bitcoin ATM

Bitcoin ATMs are available in most major cities around the world and they provide a relatively fast way to quickly convert Bitcoin and other cryptocurrencies into traditional, real-world money.

Many Bitcoin ATMs also allow users to buy Bitcoin with money in much the same way someone would deposit money into their bank account at a regular ATM. Most now support additional crypto coins such as Litecoin and Ethereum as well.

Using a Bitcoin ATM to convert cryptocurrencies into money can be a convenient practice for those who get paid in Bitcoin and wish to spend their earnings. One downside though is the fees which are usually much higher on an ATM than an online service. The conversion rates can also be much lower than other methods as well which means that you may not get as much money for you crypto as you'd like.

How to Change Bitcoin Into Regular Money

Convert Bitcoin Via an Online Service

There are several popular online services that not only allow people to easily purchase Bitcoin and other cryptocurrencies via their websites and smartphone apps but also sell the ones they have for real money.

The most popular service is Coinbase while a good alternative is CoinJar. Both offer the buying and selling of Bitcoin, Litecoin, and Ethereum, while Coinbase also supports Bitcoin Cash (a completely separate cryptocurrency from Bitcoin) and CoinJar has Ripple.

Each service can connect to traditional bank accounts to pay for crypto coin purchases. This connectivity also enables the selling of cryptocurrencies which can be converted into regular money and transferred to a bank account within a few days.

Many people use Coinbase and CoinJar to buy Bitcoin (and other coins) and cash out their profits via bank transfer as their crypto coins gain in value. Others use their accounts to receive cryptocurrency payments from friends, family members, or customers which can then be withdrawn as money.

Using a Bitcoin Debit Card

Cryptocurrency debit cards are a practical and affordable way to spend Bitcoin and other crypto coins at traditional retailers who may not accept crypto payments but do offer support for debit and credit cards. These cards allow their users to deposit their crypto coins via an online website which automatically converts them into a fiat currency such as the American Dollar or Euro.

Popular cryptocurrency debit cards are Monaco, Bitpay, CoinJar, and BCCPay. Each card is powered by either VISA or Mastercard which means that they can be used for both online and offline shopping for most businesses. Availability can vary by geographical region as can the daily and monthly usage limits so it's recommended to compare each card to find the right one for you and your financial situation.