Have you made money with Bitcoin? Great! Now it’s time to convert those coins into real currency, like USD.
Google “Bitcoin to USD,” and you will find dozens of exchange websites. It’s the most popular pathway out there.
For smart investors, this method is inefficient. Every time you move your money, the platform charges a fee, which makes active investing not viable.
Sure, you could buy and hold until you get the right timing. But there’s still a delay since you request until they make the transfer. By the time you convert to USD, the value will be different.
Then, what’s the solution?
You’re in luck. There are three methods for your choice to reduce costs. Today, you can exchange Bitcoin almost anywhere with a crypto wallet.
Bitcoin to USD – How To Exchange It Online
Apart from brokerage websites, you can trade with investors who are just like you. Although it’s not the fastest method, it will reduce transaction fees.
If you want to buy or sell right now, take a look at the top Bitcoin exchange platforms. For an extra cost, you’ll transfer funds in less than 15 minutes.
Like BTC-USD, you can convert Bitcoin to other altcoins, diversifying your investment. When you move larger amounts, always look to keep fees as minimal as possible.
For this reason, Binance has over a million users. For crypto exchanges, it charges 0,05%. Compared to Bittrex and Changely, that’s 500% cheaper!
Binance is the leading exchange app, which makes transfers fast and convenient.
You can use it to store your Bitcoins, convert them, and watch the crypto-market evolve in real-time, all at the same time.
The Most Efficient Way To Exchange Bitcoin
So you want to make as much profit as possible. The approach will change based on the game you play. Are you looking to make fast moves, or accumulate larger amounts? In other words, are you a passive or active investor?
Let’s start with the passive strategy, the most recommended model for the public. Once you save a big Bitcoin amount, you can do a peer-to-peer exchange. It’s slower but keeps fees as low as they can be.
Say you want to cash out 100$ worth in Bitcoin. In peer-to-peer, you find a person who wants to do the contrary, buy Bitcoin at $100.
There’re many sites to find trustworthy investors. You can either meet in person or trade online. You coordinate both payments, so you send Bitcoins to his crypto-wallet right after he pays the amount. Transfers range from ten minutes to an hour, but you save a fortune in fees.
As an active investor, you look for a balance between cost and time. Binance is perfect for this method. The cost is low enough to trade frequently and fast enough to get accurate sums.
If you day-trade, combine this method with the right trading equipment.
You can turn BTC into USD exchanging in countless of sites. The offer you choose will depend on your transaction volume and frequency.
Remember, you can lend the Bitcoins you don’t want to convert, so you make money from interests. You can always make your investment more efficient.
This post was written by Colleen Nguyen, freelance blockchain developer, Bitcoin trader and mother. In free time, she likes playing tennis, reading awesome books and wearing bitcoin shirts.