There are many options to withdraw digital coins and exchange cryptocurrencies for fiat money. For this, exchangers, crypto-exchanges, personal meetings with cash payment, etc. are used. To close a profitable deal, it is important to focus not only on the rate of coins. It is also worth considering the size of the commission when performing payment transactions.
Exchangers
This is a sought-after solution to make an online cryptocurrency exchange. With the help of services, you can sell the crypt, after which they send you money to a bank card or payment system. List of steps to perform the operation:
- Choosing the right resource.
- Specify the type of coins and the amount you want to withdraw.
- The exchanger prescribes the amount received by the client and the address to which coins must be sent.
- The user carries out the transfer of the crypt. In some cases, the exchanger may ask you to click the “Paid” button. Without this confirmation, the money will not be credited.
- After the digital asset arrives at the address of the exchanger, the transaction is processed and the funds are transferred to the user’s account.
When using this method for a Bitcoin exchange or other crypto, it is important to transfer as many coins as required by the transaction. Otherwise, you may lose funds, as the site does not recognize the transfer. The whole process takes approximately 10-15 minutes.
P2P exchangers
These are platforms where transactions occur directly between users. The main feature of the services is that the transaction is made exclusively with the participation of the buyer and the seller. That is, there is no central control server. The exchange of cryptocurrency for money is carried out with the protection of users and the safety of the operations themselves, for which the exchanger is responsible. In addition, the platform acts as an information intermediary that helps sellers and buyers find each other. Such a service is a good example of the decentralization of crypto assets.
Cryptocurrency exchanges
The main functions of crypto exchanges are trading and exchanging cryptocurrencies. Compared to online exchangers, exchanges are more convenient, safer and more reliable. The amount of the commission depends on the conditions of the site you have chosen and the payment method. Popular platforms are transparent. If until recently, cryptocurrency exchanges were more vulnerable to hacker attacks, now they provide a sufficient level of security.
Experts in the cryptosphere recommend choosing services where verification is expected. It is these resources that users trust for their high security. For example, you can consider WhiteBIT for work – the largest crypto exchange in Europe, which is included in the security rating.
