Crypto knowledge vi : How to trade your bitcoincash from read.cash

I decided to make this post because @Stella raised a concerned in the comment section of one of my articles that she still doesnt know how to withdraw and trade her bitcoin cash from read.cash.

Congratulations! If you have made your earnings and probably being tipped by one or two persons here on read.cash. This article would provide you an easy guide to help you send your money.

Different Cash Out Requirements

There are many things you must have when cashing out Bitcoin cash from read.cash. Here are a few:

• An external wallet

• A bitcoin cash wallet address

• A bitcoin or altcoin address should in case you wish to convert bitcoin cash to another type of crypto.

Step by Step guide to sending your money from read.cash.

• Login to your read.cash page

• Click the menu bar close to your fund balance

• Select send my money from the menu bar

• Insert amount in usd that you wish to send

• Paste your bitcoin cash wallet address that you might have copied from your external wallet.

• Note that your coin would be lost if you copy a wallet address other than bitcoin cash wallet address

• If you wish to convert to other crypto, then select convert to other crypto at the top of the transaction page.

• Select your choice of coin you wish to convert to and paste its wallet address i.e ethereum would require you paste an ethereum address.

• Hit send and your bitcoin cash would be sent.

How to trade my bitcoin cash to Fiat currency.

Fiat currencies are simply local currencies used in our respective countries for day to day payments.

Since crypto currency is yet to be adopted globally we sometimes need to convert to our fiat currency to spend them.

The following are two ways by which you can convert your bitcoin cash to fiat currency with ease:

Peer-to-Peer

Peer to Peer is simply a way of trading cryptos between you and your friends. It is quite safe with minimum risk.When selling Bitcoin cash in peer to peer, you can decide which payment method you want the buyers to use. These include:

• Cash deposit: You can ask the buyer to deposit cash into your bank account. However, you should always ask them for proof of ID and proof of Payment before releasing your Bitcoin cash to them.

• Bank Transfer: You can ask the buyer to send you a bank transfer payment. Before trying this method on how to cash out bitcoin be sure to always request proof of ID from the buyer before going ahead. Once you have received the money, you can release the Bitcoin cash to them.

• Meet in person for cash: You can arrange to meet up with a buyer who is local to you, and they will pay you in cash for your Bitcoin cash.

P2P selling is safe if you know what you’re doing. However, it’s important to be aware of fraudsters.

Third Party Broker Exchange

How it works is like this: You deposit your Bitcoin cash into the exchange, then once the exchange has received your Bitcoin cash, you can request a fiat currency withdrawal. The most common way to do this via a bank (wire) transfer.

I hope this information was helpful. Kindly drop your comments, questions and contribution.

Happy EID MUBARAK to all muslim brothers and sisters.

Cheers.