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Payment types can range from direct deposits to international bank transfers. Transfers generally take working days. You can deposit cash into the seller's bank account at your local bank branch or via an ATM. The money will be available instantly or by the next business day, depending on your bank's policy. Offline payment method and the only method that requires face-to-face F2F meetings to complete transactions.
You will need to arrange a meeting with the counterpart in a safe place and exchange the crypto for cash. Customers can transfer money from one wallet to another if both parties have the same e-wallet. The transfer is done instantly. It is a transfer where you add credit to the recipient's mobile number.
All you need to know is their phone number. Why Convert Bitcoin? Although bitcoin and other cryptocurrencies are set to rival or even replace fiat and other traditional currencies in the future, cryptocurrencies are still not as widely accepted as cash. Thankfully, crypto is a liquid asset class that can be easily converted to cash, allowing you access to more funds to buy tangible products and services. Transferring crypto funds to your bank account is a two-step approach of converting your crypto to cash, and then depositing that cash into your bank account.
You can do so easily with Binance P2P, a platform that lets crypto buyers and sellers create ads to buy or sell crypto with each other. Set up your ad. Choose your preferred payment method, currency and the amount of bitcoin you are planning to sell. After reviewing all the ads and selecting the one that works better for you, place your order.
Your crypto will be escrowed by Binance P2P. Check the transaction record in the given payment account, and make sure you receive the money sent by the buyer. Once you confirm the receipt of money, release the agreed amount of crypto to the buyer on Binance P2P. Before you convert your bitcoin to cash, consider the following points:. If you are earning profits by selling bitcoin, you will need to pay taxes on your profit income.
On Binance, you can download a file with all your transactions for tax purposes. Unlike other platforms, Binance P2P does not charge fees for buying and selling cryptocurrencies. You can buy and sell bitcoin with zero fees. It usually takes exchanges a couple of days to transfer the funds. However, on Binance P2P you can convert your bitcoin into cash instantly, depending on how fast the party makes payment and the payment method you are using. If speed is a concern, you can go to the advertiser profile and check the average pay time to trade with the fastest one.
Another way to earn free Bitcoins is by completing tasks on websites. Some companies will pay you in Bitcoin to test their websites, take their surveys, retweet their posts, and complete other small tasks. There are also websites that let people offer small Bitcoin rewards to the person who can give them the best answer to one of their questions. You can find odd jobs that pay you in Bitcoin on Cointiply. Certain cryptocurrency blogs, news outlets, and forums will pay you in Bitcoin to contribute your insights and write for them if you have a lot of knowledge about the industry.
Popular cryptocurrency forums, like Publish0x , reward users for reading and writing articles relating to Bitcoin. Image Source. On this site, users can earn Bitcoin along with other cryptocurrencies. They can also give tips to authors they enjoy. This answer to this question will vary greatly depending on your financial goals and your risk level.
For instance, younger people tend to take on riskier investments as they have more time to wait out the market while older investors tend to be more conservative. Cryptocurrencies are still considered volatile in the market, which has led financial advisors to call it a speculative asset — i. With any financial decision, consult an advisor who can offer tailored advice and guide you on the best moves to make. Editor's Note: This post was originally published in August and has been updated for comprehensiveness.
Originally published Dec 2, AM, updated December 02 Marketing 5 min read. Download for Free. How Do You Get Bitcoins? Topics: Bitcoin. Don't forget to share this post! Expand Offer. Download for Later.