After many people in the cryptocurrency space invest and make profits, the most concerning question is 'how to convert cryptocurrencies into cash.' In fact, the methods for cashing out cryptocurrencies are not complicated. Common methods include the following, each suitable for different usage scenarios:
1️⃣ Fiat Currency Trading (C2C) Model
This is currently the most mainstream cash-out method for beginners. On exchanges like Binance, users can sell cryptocurrencies such as USDT and BTC to buyers in the fiat trading zone, who will pay you via Alipay, bank card, WeChat, and other methods. After the transaction is completed, the digital assets are released. This method has low barriers to entry, is fast, supports various payment methods, and is suitable for flexible cashing out on a daily basis.
2️⃣ Withdrawal from Centralized Exchange to Bank Card
Some large exchanges support selling digital assets and directly withdrawing them to the linked bank card account. This method generally requires completing KYC real-name authentication and linking a bank card. The advantage is that it is straightforward and simple to operate, but in some regions, regulatory restrictions may prevent smooth usage or may require fees and a certain waiting time.
3️⃣ Cryptocurrency Debit Card
For example, the Binance Card launched by Binance allows users to transfer cryptocurrency assets to the card, which are automatically converted to fiat currency at the time of consumption when shopping at merchants that support VISA or Mastercard. This is suitable for users with overseas spending and flexible payment needs, but in some regions, the card issuance threshold may be high or not yet available.
