Ultimate Guide On Exchanging Cryptocurrencies For Fiat

We are witnessing a sharp growth of interest in cryptocurrencies. Against this background, questions related to how, where, and on what terms it is possible to exchange cryptocurrency for traditional money become relevant. So, where can you sell ETH or bitcoins and get fiat money? There are several options! We will try to answer this question.

Exchange services

One of the easiest and most popular ways to exchange digital currencies for fiat is to use the services of exchangers. The most popular method to choose this exchanger is aggregators that provide information about the main exchangers (rate, % for the exchange, and other information). This way, you can easily exchange Exchange ALPHA to yearn.finance.

Disadvantages: the risk of becoming a victim of fraudsters, high commission for withdrawal of crypto into fiat currencies. The tangible difference in cryptocurrencies rates with what you can see on exchanges or tracker sites, tracking price movements. 

Pluses: a wide choice of payment systems and an equally impressive number of exchangers themselves. You can always choose among them the one that best meets your needs. Many do not require verification, which allows you to remain anonymous. Study the rating of exchange platforms of Alligat0r to make the right choice.

Cryptocurrency exchanges

Due to the uncertain legal status of exchanges, banks and processing centers are reluctant to work with crypto-businesses, trying to avoid problems with regulators. However, trading platforms exist even under these conditions. They allow you to exchange and withdraw cryptocurrencies to your card. 

Minuses: complicated and long process of registration on the platform, the need for verification.

Pros: minimal risk of becoming a victim of fraudsters, the opportunity to exchange at a good rate and with a low commission.

P2P-exchangers

P2P-exchangers are services where you have to deal with private sellers. Anyone can publish their offer on the intermediary site. Choose a convenient method of payment and wait for the buyer who is satisfied with the conditions offered. 

Disadvantages: you will need to verify your offers, and the difficulty of verification will directly depend on the amount of the deal. Marketplaces store the data received from you. In the case of hacking, they may end up in the hands of criminals. The probability of such an outcome is high because the sites are not regulated and do not pass audits, so their security level leaves much to be desired.

Pros: the counterparty will receive the coins only after you confirm the success of the transaction.

Bottomline

We have told you about the most popular ways of cashing out cryptocurrency. We are not talking about those services that require personal presence (physical meeting with the buyer / using cryptomats) or operating a large amount of money. 

Each method allows you to make the exchange online without leaving your computer. This eliminates some of the risks. However, which of these examples is the best? It is up to you to decide. Choose the method that best suits your needs and objectives.

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crypto exchanges Guide