It is not a secret nowadays that bitcoin may be a good investment. Its rates always fluctuate that allows getting extra profit. On the other hand, you can spend cryptocurrency and buy different goods and services. A lot of merchants all over the world accept bitcoins as payment. Now you even have an opportunity to pay for your dinner with bitcoins but unfortunately only if you have a special plastic or virtual bitcoin card. Another option is bitcoin terminal, which is not really popular yet.
Also you can exchange BTC for cash. Generally the process takes from five to seven minutes but you have to make some preparations. First, find a proper bitcoin ATM. It is a machine that allows selling bitcoins for cash. Take into account that there are two types of BTMs. One-way machines allow selling or buying bitcoins only. Two-way ones provide customers with an opportunity to do both: buy and sell BTC for cash.
Bitcoin ATM is not a widespread thing. Use a map on the website, Coin ATM Radar, for example, to find a machine nearby. Useful mobile applications that will also provide you with important information about ATM can be found in Google Play Store or the App Store. Apply filters to find two-way or one-way machines that allow to cash out BTC.
Your next step is identification. Some machines will let you skip this step or use a phone number (or e-mail in some cases). Then choose a direction of the transaction and enter your bitcoin wallet ID. Choose an amount you are willing to sell. Remember, bitcoin rates in ATM can differ from the official rates on the Coinbase website. Confirm the transaction if everything fits you. You’ll have to pay a fee for this transaction. Average selling fee now is about 5,5%.
As you can see, this is an easy and fast way to convert BTC to cash. You don’t waste time looking for a reliable buyer but just sell digital currency to a machine.