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Converting Bitcoins to fiat through an exchange

How to simplify the exchange and cash out cryptocurrency without loss?

Despite the skepticism toward digital assets of the central banks of several large countries, Bitcoin continues to strengthen its position in the foreign exchange market. The rush demand for cryptocurrency is due to the natural desire of investors and traders to make money. Use bitcoin 360ai here if you want to find out more about the bitcoin. 

With the help of Bitcoins in some countries, you can pay for ordinary services. For example: book a hotel or pay for purchases online. Thanks to this, cryptocurrency has ceased to be a curiosity and has entered the everyday life of millions of people. Unsurprisingly, many services have appeared offering to transfer btc to euro and cards from other banks.

Withdrawal of Bitcoins to fiat funds through the exchange

Let’s make a reservation right away that this method of cashing out cryptocurrency is more suitable for experienced traders than for novice investors since, in this case, the exchange process is associated with some difficulties, including:

  • Without experience and knowledge regarding exchange operations, you can lose an average of 10-20% of the amount on order alone.
  • You should also not forget about the commission for withdrawing funds. Its size, as a rule, does not exceed 4%, but in monetary terms, it is quite an impressive amount.
  • Most exchanges transfer Bitcoins exclusively to dollars. Companies operating for users from the CIS offer transfers to ruble cards as an alternative. Accordingly, investors from Ukraine will face the problem of conversion. You can solve the problem by opening a dollar account. However, even in this case, some difficulties can be encountered. Mastercard is designed to work with either the national currency or the euro. For payments with dollars, inflated commissions are set.
  • You will have to issue a Visa card for a more profitable exchange, but there are specific difficulties with it. Not all banks provide the possibility of withdrawing dollars in cash. Holders of bank cards can use this option. Customers of other banks will have to go to the cash desk to withdraw cash funds.

Exchanges are designed more for cryptocurrency trading than for simple exchange. With the proceeds from successful orders, you can cover overhead costs.

Why do experienced investors choose exchangers?

Exchangers are a more accessible and rational way to cash out loopring to usd. They offer favorable conditions for buying and selling digital currencies while charging a small commission. In addition, the exchange process is many times easier than in the course of working with the exchange. The user only needs to specify the currency pair and payment details and pay for the application. The process takes no more than 10-15 minutes, taking into account the time for the transaction.

The frenzied demand for cryptocurrency worldwide has led to the emergence of “dishonest” businessmen. Doing an independent search for an exchanger can quickly get to a site that imitates a real-life company or a fake one-day resource and lose all the accumulated assets. You can avoid this by cooperating with reliable monitoring portals. In this case, the possible risks are minimized.

Red Note: 3 June 2022

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