If you happen to have made millions from trading cryptocurrencies, the next step will be to withdraw them successfully. With the below guide on how to withdraw cryptocurrency safely, you will be able to withdraw your earning to your favorite crypto wallets. Whether you are trading on top forex brokers or other regulated brokers, you should read the below instructions carefully.
Here’s a list of tips for withdrawing your cryptocurrency successfully:
- Evaluate Payment Methods
Before withdrawing your cryptocurrency successfully, you ought to consider different varieties of payment methods. Ask yourself what payment method is the cheapest and easiest? How long can you wait to receive the cash? What currency are you withdrawing your crypto to? These are what you need to know and ask yourself before withdrawing your cryptocurrency.
- Use Third-Party Broker Exchanges
Third-party Metatrader 4 brokers serve as an exchange for withdrawing money to flat currency. However, most of these exchanges have restrictions when it comes to depositing flat currencies. But when it comes to withdrawing cryptocurrencies, exchanges are the perfect choice for it. Using an exchange, you can quickly initiate a withdrawal through a bank or wire transfer.
That’s not all because when withdrawing from a popular exchange like Coinbase, you will need to consider the withdrawal fees. Broker’s fees for withdrawing crypto differ exclusively depending on the payment method you want for withdrawal. For example, Coinbase has different payment methods like card withdrawals, SEPA Transfer, and PayPal.
If you don’t prefer waiting a long period to receive your money after withdrawing crypto, you should explore the option of withdrawing through a peer-to-peer platform. One of the popular peer to peer platforms is LocalBitcoins, and they have different payment methods like:
- Local Bank Transfer
- International Bank Wire
- Western Union
- Gift Vouchers
- Web Money
- Bank Cash Deposit
On their platform, you sell your crypto to buyers and get paid in your preferred currency. Through any best forex broker Australia, you can quickly sell your cryptocurrency using the peer-to-peer method. Also, make sure that you follow the rules of any peer-to-peer platform when selling your cryptocurrencies to avoid falling prey to scammers.
- Bticoin ATMs
Bitcoin ATMs are similar to local ATM cash machines. However, instead of it dispensing money from your traditional bank accounts, it processes Bitcoin-related transactions. With Bitcoin ATMs, you can scan the QR code from your wallet to withdraw money. However, using a Bitcoin ATM attracts a higher fee than using the peer-to-peer method. Bitcoin ATM is almost everywhere around the world.
Moreover, it’s not all type of Bitcoin ATMs allows you to buy and sell Bitcoins. So, if you are trying to with cryptocurrency (Bitcoin) safely, utilizing Bitcoin ATM is a perfect choice. Also, you need to have an activated and verified account for selling operations before you can withdraw with Bitcoin ATM.
If you happen to have made millions from trading cryptocurrencies, the next step will be to withdraw them successfully. The above withdrawal methods are what you need to withdraw your cryptocurrency safely successfully.