Sell Crypto: Convert to Cash Fast, Securely & with Low Fees | BitPay (2024)

FAQs

Sell Crypto: Convert to Cash Fast, Securely & with Low Fees | BitPay? ›

Selling your crypto via BitPay

Among the cryptocurrency exchanges that we evaluated for fees in 2024, Binance emerges as a standout choice for the lowest fees. With trading fees ranging from 0.1% to 0.02% for makers and 0.1% to 0.04% for takers, Binance offers competitive rates across a wide array of cryptocurrencies.

Peer-to-peer (P2P) exchanges enable buying and selling Bitcoin directly from buyers and sellers, bypassing intermediaries. This is the fastest way to turn crypto into cash. They provide more privacy than traditional online transactions and facilitate trading of various cryptocurrencies with different payment methods.

One of the most common ways to buy and sell crypto without fees is by using a decentralized exchange (DEX). DEXs operate without a central authority, allowing users to trade directly with one another. Because there is no intermediary involved, DEXs typically charge lower fees than centralized exchanges.

Kraken is one of the oldest and most well-established global crypto exchanges with industry-leading educational resources and security features. Kraken is one of the safest crypto exchanges for investors looking to trade 200+ cryptocurrencies.

The best zero-fee crypto exchanges are MEXC, Binance, Lykke, Phemex, and Deribit, each offering unique features and low or no transaction costs.

Bitcoin ATMs are a way to get immediate access to cash using your bitcoins. Bitcoin ATMs do not operate like traditional ATMs. In order to make a cash withdrawal and sell your Bitcoin from the ATM, the machine provides a QR code to which you send your Bitcoin. You simply wait a couple of minutes and receive your cash.

How quickly can you convert crypto to cash? ›

Yes, you can convert cryptocurrency to cash (like USD or INR) using various methods. Popular options include cryptocurrency exchanges, peer-to-peer marketplaces, and Bitcoin ATMs. Always choose a reputable platform and be aware of potential fees and withdrawal times when converting your crypto holdings to cash.

There is no way to legally avoid taxes when cashing out cryptocurrency. However, strategies like tax-loss harvesting can help you reduce your tax bill legally. Converting crypto to fiat currency is subject to capital gains tax. However, simply moving cryptocurrency from one wallet to another is considered non-taxable.

Coinbase Commerce offers a few different options for withdrawing funds without incurring high fees. One option is to use the Coinbase Commerce app to transfer funds to your Coinbase account, which can then be withdrawn to your bank account or sent to an external wallet.

Lykke offers an all-in-one free crypto trading platform with zero trading fees and low buy-sell spreads. We cover your fiat deposit and withdrawal fees, enabling you to trade crypto for free on Lykke.