How to cash Bitcoins through the exchange? Automatic translate
Exchanges are one of the most profitable ways to withdraw cryptocurrency. These services make it possible to make transactions not only with cryptocurrency, but also with ordinary money, for example, if you change Bitcoin to dollars . The derivation process here is quite simple. The funds that you have in your account can be exchanged for traditional currency and withdraw it from the exchange.
Features of withdrawing Bitcoins from exchanges
First you need to look for a service that supports the necessary pair of currencies. The easiest way to find such an exchange will be the Google search engine. You need to choose an option from the top, so you save yourself from fraudulent sites. Those services that are in the first 5 results are the most secure. In addition, you can study reviews about the exchange.
Next, you need to go through the registration procedure on the service. This data is needed by the service for identification. After that, you need to replenish your account or wallet. To do this, you need to transfer the required amount to his address. Next, the owner of Bitcoins needs to put them up for auction at the rate that he considers the most optimal. As a result of bidding, a buyer appears and both parties conclude a deal.
The transaction makes it possible to replace Bitcoins with the chosen currency (these can be hryvnias, euros, dollars, etc.). Now they can be displayed on payment cards such as MasterCard or Visa. Withdrawal options are usually indicated in the sections regarding withdrawal of funds.
Benefits of withdrawing cryptocurrency through an exchange
The list of advantages of this service include:
- convenient procedure;
- profitable terms;
The reliability level of this service ranges from medium to high. It is impossible to hide the fact that such exchanges are sometimes hacked. This does not happen often, but still takes place. The frequency of hacks depends on the rating of the service itself. Those that are in the top crack very rarely, as they have a high level of protection against fraudsters.
Small exchanges are most often hacked due to the lack of reliable protection. Another advantage of TOP services is that they monitor their reputation and do not engage in fraud.
The benefits of exchanges directly depend on the established commission. But here you can set the Bitcoin selling rate yourself. In any case, the course should be profitable, otherwise the owner may not wait for the buyer.
Another important advantage of exchanges is convenience. Each service is beneficial in its own way. Most of these services offer the speed of receiving money, which is inversely proportional to the profit from the transaction. In case of any questions, the owner of the cryptocurrency can always contact technical support.