Before you convert all of your BTC to a bank account, keep in mind the following pitfalls associated with converting bitcoin to cash:
Taxes. Death and taxes are inevitable, even for bitcoin investors. Although some jurisdictions have yet to clarify their stance on bitcoin and taxes, most tax authorities say that you have to pay taxes on profits that you may make when selling bitcoin for cash. And lest you think you can simply ignore those rules, keep in mind that some bitcoin exchanges will report your profits to the tax man when you cash out.
Fees. Most of the BTC-to-bank-account methods described above entail exchange fees. (Selling bitcoin directly to your friends may be an exception, assuming your friends are nice enough not to charge you transaction fees.)
When you’re ready to convert bitcoin to cash, consider such things as the cost and ease of the cash out method, where you want it deposited (bank account, PayPal, etc.) the type of currency (i.e., country) you need to convert your bitcoin to, and how long you want to wait to receive your cash. Whatever your needs, there’s a method that can fit and the options continue to grow as bitcoin becomes more common and accepted throughout the world.
Over all bitcoin cash converting is very very simple.
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