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First, you will need to open an account with Coinbaselink your bank account, and make a deposit. If you need help on how to do this, view our guide here. If you have already done this, proceed to step 2!
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Is it time to book some profit and convert your Bitcoins to traditional bills? Read on to learn the ways to cash out Bitcoin and get some real-world money. And why not, considering it is better than gold and traditional fiat currency, and not to mention, it is in limited supply and is subject to various economic laws that suggest its future growth too. The dollar moves well but is not limited in supply.
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Be that as it may, it is still important for you to know how and when to turn bitcoin into cash. Bitcoin has performed well as a store of value and that value can transfer into many different types of assets, including fiat currencyor cash. Through your efforts and dedication, you were successful in making millions in bitcoin. Now, what are you going to do with it?
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In theory, you will one day be able to use bitcoin for any type of purchase when it replaces fiat currencies, like U. For now, however, there are still relatively few businesses or individuals that accept payment in bitcoin. That is one reason you may want to convert your bitcoin to cash—to use the value of your bitcoin to buy actual things.
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Sign up and complete the verification process. Serving more than 1. In fact, only New York state has suspended their services due to local financial regulations. Plus, it offers escrow service to protect both buyers and sellers of Bitcoin.
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Simply choose a payment gateway online businesses or point-of-sale app in-store businesses that offers this service, such as Bitpay. The service provider will receive the BCH paid by your customers and then deposit the equivalent amount of your chosen currency in your business bank account, usually on the next working day.