Based on historical data, there is no other asset that has gained as much value as crypto assets. However, the main problem is governments around the world have a love-and-hate relationship with Crypto.
Investing in crypto and withdrawing crypto profit as fiat money is a great problem for many people, especially small investors. If the banks in your country do not allow crypto withdrawal, or if the crypto wallet or crypto exchange you are using does not have a cash withdrawal option, there are three ways to withdraw your cryptos as fiat money:
Peer-to-Peer (usually, referred to as P2P) is a method to perform a transaction directly through a person via a platform where this feature is enabled. Some popular options are:
There are numerous platforms that are dedicated to exchanging cryptocurrencies, PayPal funds, or other online wallet funds. Go to a site called best exchange dot com. You will see a list of exchanges and you can choose the one based on reviews, ratings, and fees. The exchanger fees tend to be a little high.
Wallet Withdrawal (Payment Gateway)
If you think P2P and Exchangers are risky, you can try the third method, which is wallet withdrawal. In this method, you will have to join a wallet (Payment Gateway) and verify your identity. Then, you will have to fund your wallets with crypto funds and then use the withdrawal option. Some popular options are:
If you are based in Europe and America, it might not be very difficult to withdraw your cryptos as fiat money as there are numerous companies that provide this service, you even get a Virtual and Plastic debit card for using your crypto funds (BitPay and Crypto dot com have this service). However, in Africa and many Asian countries, you can use one of the aforementioned methods.
- Some countries have banned crypto outright, in China, for example, investing, holding, trading, and mining activities are punishable by law.
- In some countries even when the crypto is not banned, crypto transactions are really hard to perform. In the UK, more than 47 percent of banks do not allow any crypto transactions.
- In India, where crypto is recognized as an investment asset, crypto is taxed so heavily that people are tempted to perform crypto transactions illegally. Indian government charges a 15 percent tax on a stock transaction whereas they charge a 30 percent tax on crypto.
Investing in crypto and withdrawing crypto profit as fiat money is a great problem for many people, especially small investors. If the banks in your country do not allow crypto withdrawal, or if the crypto wallet or crypto exchange you are using does not have a cash withdrawal option, there are three ways to withdraw your cryptos as fiat money:
- Peer-to-Peer Transaction
- Crypto Exchanger
- Wallet Withdrawal
Peer-to-Peer (usually, referred to as P2P) is a method to perform a transaction directly through a person via a platform where this feature is enabled. Some popular options are:
- Forums and communities: There are a lot of forums and online communities that allow users to perform P2P transactions.
- Paxful: Paxful is an online platform entirely dedicated to P2P transactions. The best thing about this platform is you are allowed to do a transaction only with a person you can meet locally.
- Binance: Binance is a crypto exchange with P2P features enabled.
There are numerous platforms that are dedicated to exchanging cryptocurrencies, PayPal funds, or other online wallet funds. Go to a site called best exchange dot com. You will see a list of exchanges and you can choose the one based on reviews, ratings, and fees. The exchanger fees tend to be a little high.
Wallet Withdrawal (Payment Gateway)
If you think P2P and Exchangers are risky, you can try the third method, which is wallet withdrawal. In this method, you will have to join a wallet (Payment Gateway) and verify your identity. Then, you will have to fund your wallets with crypto funds and then use the withdrawal option. Some popular options are:
- AirTm: You can use AirTm to exchange different web money like PayPal funds, skrill funds, cryptos, etc. AirTm also provides you with a Virtual card that you can fund with crypto. You can use this card anywhere including Paypal.
- Perfect Money: You can fund your account with Bitcoin and then withdraw as fiat money.
If you are based in Europe and America, it might not be very difficult to withdraw your cryptos as fiat money as there are numerous companies that provide this service, you even get a Virtual and Plastic debit card for using your crypto funds (BitPay and Crypto dot com have this service). However, in Africa and many Asian countries, you can use one of the aforementioned methods.
