Now that Bitcoin has crossed the chasm from magic internet money to a Wall Street darling with the approval of the Spot Bitcoin ETF, it is now time to learn how to use BTC like real money!
We analyzed over 100+ payment methods over the last 30 days to figure out what’s the best way to cash out bitcoin or crypto in any country on ThinkMaverick.
This led us to uncover some interesting ways in what each crypto platform offers in terms of cashing out bitcoin and the difference between cashing out small or big amounts of BTC.
If you’re wondering what is the fastest way to turn Bitcoin into cash, check it out below…
Best Ways to Covert Bitcoin for Cash
When it comes to selling your bitcoin for cash, you’ll need to consider how you want to receive your money. You can choose between a myriad of diverse payment methods available to you (this list is non exhaustive):
- Cash Out Bitcoin to Bank Account 🏦
- Cash Out Bitcoin to Credit Card 💳
- Cash Out Bitcoin for OneVanilla VISA/MasterCard Gift Card 🎁
- Cash Out Bitcoin for MTN Mobile Money 📱
- Cash Out Bitcoin for GCash 💸
- Cash Out Bitcoin for PayPal 💲
- Cash Out Bitcoin for Neteller 🏧
- Cash Out Bitcoin for AstroPay 👨🏽🚀
- Cash Out Bitcoin for Skrill 💰🐉
- Cash Out Bitcoin for Wise 🦉
- Cash Out Bitcoin for ApplePay 🍎
⇒ Best Bitcoin Cash Out Method in Your Country (↓)
Although, if you’re looking to convert your bitcoin to any major currency like USD, GBP, EUR, CNY, JPY, KRW or others like NGN, MYR, IDR and SGD – you could instead just spend your bitcoin directly to avoid fees and transaction costs.
This will solve the problem of cashing out small amounts of BTC that eats into your crypto asset.
Now here are the ways I use and love to quickly cash out and liquidate my bitcoin or any crypto.
1. Cash Out Bitcoin to Bank Account
One of the best ways to cash out bitcoin safely and transfer the money to your bank account is through an online cryptocurrency exchange.
While this method allows you to turn larger amounts of bitcoin into cash safely, it could also take a longer time to clear into your bank account due to AMC/KYC rules. (It may take 1 – 7 business days to receive your cash depending on your bank in your country.)
Having said that, a crypto exchange do allow you to easily sell your Bitcoin for any major currency or local ones depending on the location and where they’re based in.
To start, you’ll need to find an exchange that is available in your country.
If you are located anywhere in the UK or Europe, Paybis offers residents a cheap and safe way to withdraw your funds to a bank account with the following offer:
- Available in EUR & GBP.
- Domestic & international transfers supported
- Instant payments for EUR & GBP*
- Paybis fee – 0.99% (down from 3.99%!!)
- A whopping limit of 1 MILLION USD per transaction!
*Paybis supports Faster Payments (GBP) and Instant SEPA (EUR). The transfers arrive within 1 minute.
To get this offer, go to this page – select the following: ‘Sell Crypto’ – Under the ‘You Receive‘ drop down menu, select the ‘EUR‘ currency and then choose ‘Bank Transfer‘.
2. Cash Out Bitcoin to Credit Card
Due to the slow nature of bank wire transfers in certain countries, you can consider cashing out your bitcoin to a Credit or Debit Card issued by your local bank that bears the VISA or Mastercard symbol (for much faster cash access).
If you are located in one of the 190 countries that Coinmama serves, simply choose the Credit/Debit Card payout method to enjoy the best rates and fees.
Coinmama offers loyalty privileges, meaning the more you transact, the less fees you pay!
Coinmama is one the most streamlined platforms in the market for beginners to learn how to sell crypto for cash easily.
Even a 5 year old can do it. Just point and click!
The checkout process will swiftly transfer funds into my credit/debit card with clear instructions, minimal steps, and a secure interface making the entire selling process a breeze.
The step-by-step process in doing this is featured here: Sell Bitcoin in 5 Easy Steps — Choose from These 4 Best Crypto Platforms.
3. P2P Bitcoin cash out
For individuals in countries with limited access to traditional crypto platforms, LocalCoinSwap offers a fast and reliable alternative. This peer-to-peer (P2P) Bitcoin exchange empowers you to trade directly with other users, bypassing any restrictions or geographical barriers.
Serving more than 1.35million people from 15,000 cities across 249 countries, LocalCoinSwap is available in almost every jurisdiction in the world while supporting more than 190+ local currencies, along with a 300+ diverse payment methods.
You can choose between a wide range of popular bitcoin cash out options on their website and platform, which include:
- Cash deposit 💵
- In-person cash 🤝
- International bank transfer 🏦
- Domestic bank transfer 🏦
- Payoneer 💲
- Cash Out Bitcoin for PayPal 💲
- Cash Out Bitcoin for Skrill 💰
- Gift vouchers 🎁
- Western Union 💶
- Mobile money 📱
Here’s a quick look at how it works:
- Create an account at LocalCoinSwap.
- KYC/no KYC depending on your trade volume & region.
- Select “Quick Sell”.
- Choose your country and payment mode.
- Choose your ideal buyer depending on their rating.
- Decide how many BTC you want to sell
- Once the buyer accepts your offer, send your BTC to escrow.
- Wait for the buyer to send in the payment.
- Release escrow once you receive cash.
The step-by-step process in doing this is featured here: Sell Bitcoin in 5 Easy Steps — Choose from These 4 Best Crypto Platforms.
4. Bitcoin Cash Out with No ID
Noonesis a peer to peer bitcoin marketplace that’s easy to use, secured by escrow, and accessible in any country within the Global South.
It’s easy to cash out Bitcoin without an I.D. as a Noones vendor. You have the freedom to set your own rates, and also the luxury of multiple payment options to get paid for the Bitcoin you cash out.
📊💳 Here are the top 5 payment methods by trade volume on Noones in the 1st week of 2024:
1. Bank Transfer 💳
2. OneVanilla VISA/MasterCard Gift Card 🎁
3. MTN Mobile Money 📱💰
4. GCash 💳💸
5. PayPal 💳💲
Bysigning upfor a freeNoones account here, you’llreceive 100Satsin your Noones bitcoin walletwith no strings attached. When you make your first trade, you’llget another 1000Sats!
The availability of these diverse payment choices is driving lots of trade momentum within the Noones bitcoin marketplace!
The step-by-step process in doing this is featured here: Sell Bitcoin in 5 Easy Steps — Choose from These 4 Best Crypto Platforms.
5. Cash-Out Bitcoinwith Skrill
If you have Skrill, you can also use Paybis or Coinmama and convert your bitcoin to EUR/USD in less than 15 minutes.
Skrill is a digital money service that’s strong in the European region. Therefore, if you need to cash out BTC fast in Europe, you only need to take a few simple steps to access money in your Skrill account:
- Scroll to the top and start a new BTC to Skrill transaction.
- Enter the email address of your Skrill account and send your Bitcoins to Paybis.
- Within a few minutes, your Skrill funds will be updated.
Here are the benefits of cashing out bitcoin to Skrill:
- Incredibly fast payout.
- Transparent fee structure.
- Send Skrill funds to other Skrill users or cash out directly to your bank account within their list of supported countries.
- Members can order a prepaid Mastercard and pay to any merchant that accepts Skrill as a payment method.
- All this means that you can sell Bitcoin for Skrill and use the funds as a convenient payment method.
6. Cash Out Bitcoin by Spending
Cashing out small amounts of Satoshis? Then why not spend it?
Cashing-out to digital gift cards gives you more freedom, discretion, and control over how you spend your BTC. More importantly, these cards are sent to you right away (Instant).
Now you can use bitcoin like real money! You can try out using some of these crypto services:
- Lolli (Earn BTC while Shopping Online)
- Bitrefill (Shop Anything with BTC Gift Cards)
- Hostinger (Spend BTC on your Website Hosting)
Whatever you want to shop for, there’s a gift card for it. Bitrefill is THE PLACE to go to when it comes to eGifts, topping up & refilling prepaid phones as well as buying international gift cards.
The Gift Cards you buy can be used in over 170 countries! Shop in categories like:
- Gaming
- Travel
- Shopping
- Entertainment
- Phone Refills
- eSIMs
List of Gift cards include:
Although, some merchants do accept Bitcoin payments directly. Here are some of them: Microsoft, Expedia, Overstock, Shopify stores, Newegg, Travala, CheapAir, AirBaltic, ExpressVPN, NordVPN, CyberGhost, Twitch, Steam, AMC Theaters…
7. Cash Out Bitcoin for Gift Cards
On Noones you can simply choose Gift Cards as your fast bitcoin cash out method.
You will find 134 choices of gift cards on the platform ranging from Amazon, Apple, iTunes, OneVanilla VISA/MasterCard Gift Card, PizzaHut, Skype, Starbucks, Ikea, Target, Uber, Walmart, WholeFoods, Nike, Dunkin Donuts, Hotels, Restaurant Gift Cards, Airline Gift Cards and so many more…
Check it out for yourself here…
Trading BTC for Gift Cards is a highly popular payment method in the Noones marketplace. It’s a multi-billion dollar industry in countries like Nigeria, China, India, Ghana, Cameroon, Philippines.
So, if you’re planning on buying something on Amazon, you can simply cash out your BTC for an Amazon gift card right here.
Cash out your BTC to any Gift cards and use them online instantly without needing to convert your Bitcoin into USD or EUR.
Access to these borderless bitcoin-funded Gift cards is crucial for anyone, allowing you to make purchases online and/or offline, anywhere in the world without the hassle of selling your bitcoin in a crypto exchange.
8. Cash out Bitcoin to PayPal
If you’re looking for immediate spending power, your best bet is to cash out BTC to your PayPal account using either Noones or LocalCoinSwap.
While PayPal is widely accepted payment method across millions of merchants worldwide, it isn’t readily available on any mainstream crypto exchanges; that’s why you will need to use a P2P platform like LocalCoinSwap to find buyers who will do a trade with you using PayPal.
9. Cash out Bitcoin to WeChat Pay
In China, the best way to cash out BTC to your WeChat Pay fast is Noones.
Other popular payment methods in the region include; Alipay, Bank Transfers, Domestic Wire Transfer, Wise (TransferWise), Gift Cards and more which you can find on a P2P platform like Noones.
10. Cash out Bitcoin in Nigeria (or Anywhere in Africa)
If you are located anywhere in Africa, the best way to cash out bitcoin fast is on Noones.
Here are the Top 10 countries in Africa where you can use payment methods like Airtel Money, Chipper Cash, MTN Mobile Money and other MoMo service providers:
1. 🇳🇬 Nigeria
2. 🇬🇭 Ghana
3. 🇨🇲 Cameroon
4. 🇰🇪 Kenya
5. 🇨🇮 Ivory Coast
6. 🇿🇦 South Africa
7. 🇲🇦 Morocco
8. 🇹🇳 Tunisia
9. 🇧🇯 Benin
10. 🇸🇳 Senegal
Cashing Out Bitcoin Conclusion
Deciding where to cash out bitcoin to depends on your individual goals, location and circ*mstances. You can certainly look for the potential benefits and drawbacks based on the accessibility, convenience, fees or even tax implications.
Here you will find your best bitcoin cash out payment method based on your location:
- USA: PayPal | Bank Transfer | Cash App
- Malaysia: Bank Transfer| Skrill
- Singapore: FAST | Bank Transfer
- Australia: Credit Card| Bank Transfer
- China: WeChat Pay | Alipay
- Taiwan: Bank Transfer
- India: Airtel Money
- South Africa: Bank Transfer | Skrill
- UK: Bank Transfer | Skrill
- Europe: Bank Transfer | Skrill
- Russia: Bank Transfer
- Japan: Bank Transfer | Line Pay
- Nigeria: Airtel Money | Chipper Cash
- Ghana: MTM Mobile Money | MoMo
- Philippines: GCash
- Thailand: Bank Transfer
- Indonesia: Bank Transfer
- Vietnam: Bank Transfer
- Canada: Interac e-Transfer
If you need to convert Bitcoin to any currency to pay your bills or merely to spend it, the fastest way to do it is via MoMo or an online payment service like PayPal or Skrill.
If you feel the need to share your best bitcoin cash out method with us, feel to leave a comment down below… or (go ↑)
Like this article? [🔖Bookmark for later!]
2K Shares
