Where to exchange bitcoins for cash
Bitcoin Mining | HOW TO CASH OUT BITCOIN - TURN BITCOIN INTO CASH!
what is going on guys J crypto here once
again with another crypto currency video
for you now guys I've been getting a lot
of people contacting me saying hey J you
know I really appreciate all the crypto
currency advice and everything but once
I have all this Bitcoin how am I
supposed to then turn that into cash how
am I supposed to turn this Bitcoin into
US dollars so in this video I'm gonna be
showing you a few different methods you
can use to exchange your Bitcoin into
cash or US dollars or really any fiat
currency you want now keep in mind guys
these are not the only methods to do
this but these are definitely the
simplest and the fastest methods so guys
if you enjoy this kind of cryptocurrency
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I post new content so without further
ado let's get into the video so guys I'm
gonna be showing you step-by-step 2
different message to sell your
cryptocurrency into cash the number one
method is coinbase calm and the number 2
method is local bitcoins calm I'm gonna
start with coinbase calm now coinbase
I'm sure most of you are familiar with
coinbase most of us when we first got
into Bitcoin when we first got into
cryptocurrency someone told us hey going
make an account with coinbase you can
buy your first bitcoin and take it from
there
if any of you are not familiar with
coinbase coin base is an exchange where
you can purchase bitcoin aetherium and
litecoin with US dollars and then you
can also sell your bitcoin aetherium and
litecoin for US dollars so in order to
sell your bitcoin on coin based you're
gonna have to first put your Bitcoin
into your coin base account and the way
you're going to do that is when you log
in to your dashboard you're going to
click the accounts button and you're
going to these are your accounts right
here and I'm just gonna be using Bitcoin
as an example but everything I'm going
to show you will also apply to e theorem
and litecoin so in order to send Bitcoin
to your client base account so you can
sell it for cash you're gonna click the
receive button
next to your Bitcoin wallet and what
you're gonna do is wherever you keep
your Bitcoin whether it be in your
Exodus wallet whether it be on
blockchain info whether it be on your
trays or whether it be on another
exchange you're gonna send that Bitcoin
to this address once you send it to this
address it will be in your account and
then what you're going to do is you're
going to click this buy sell tab right
up here this is the area where you're
actually going to sell your
cryptocurrency in exchange for cash so
we're not going to be buying so I'm
gonna click the sell tab right here
and then we have two different windows
right here the first is the sell from
window you're gonna select the
cryptocurrency wallet that you want to
sell from in my case I'll be selling
from my Bitcoin wallet and then the
second window here is the deposit tube
window okay we have a few different
options here you can either deposit your
US dollars into your US dollar wallet
and what the US dollar wallet is guys is
this is a coin base US dollar wallet so
if you put your US dollars in here
you're keeping your dollars in the coin
based platform you cannot actually go to
the bank and withdraw this money for
physical cash the reason you would want
to put your US dollars here is in case
you think that the price of Bitcoin is
going to drop so you want to get out but
you want to keep your dollars in the
coin based platform so that you can
quickly and easily buy back in when the
price goes down now I'm gonna be showing
you how you can sell your Bitcoin in
exchange for US dollars and have that go
directly into your bank account so you
can drive down the street to the bank
and withdraw the physical cash so what
you're gonna do is you're gonna set up
your coin basic council it links to your
bank account right here I have my Wells
Fargo checking account linked to my coin
base account I'm not gonna show you how
to link it up in this video you can
actually go to the coin base website
they'll show you how to do it
step-by-step it's actually very simple
and very self-explanatory you need to
provide your ID and a whole bunch of
information because coinbase is a US
company it's very safe it's very secure
there's no need to be concerned about
somebody hacking your bank
so I'm gonna go ahead and click deposit
to Wells Fargo checking account and then
what I'm gonna do is I'm gonna put how
much Bitcoin I want to sell and I'm
gonna sell five dollars worth of Bitcoin
which is point zero zero zero two six
six seven three bitcoins okay then what
I'm gonna do is I'm gonna click sell
Bitcoin
once I click sell Bitcoin I'm going to
review everything I'm selling point 0:03
Bitcoin I'm gonna withdraw from my
Bitcoin wallet I'm gonna deposit into my
Wells Fargo checking account and it says
the funds will be available December
22nd 2017 today is currently December 18
2017 so they stay able to take about
four days and just for your information
guys I've actually sold Bitcoin on
coinbase
and seeing the money in my bank account
sooner than four days so I'm assuming
that this is just the latest date that I
will be in my bank account that's just
for your information either way it will
end up in your bank account by at least
in at least four days so I'm gonna click
confirm sell and that's it that's all
you have to do my cell was successful my
Bitcoin is now going to be sold in two
US dollars which will appear in my bank
account I can drive down the street to
the ATM take out the cash and be on my
merry way that's all you have to do guys
you can view your dashboard now and of
course your five dollars short of
Bitcoin now the second method I'm going
to show you to sell your Bitcoin for US
dollars or any fiat currency is local
bitcoins calm now the great thing about
local bitcoins calm is it's available in
every single country as you can see here
you can sell your Bitcoin for pretty
much any fiat currency in the world as
you can see right here these are all
different currencies and another great
thing about it is you can find people in
your local area let's say you're not
comfortable exchanging money over the
internet you can actually search for
people who will meet in person and pay
cash you can pay with PayPal you can pay
with cash by mail cash deposit Amazon
gift card code MoneyGram serve to serve
Western Union the list goes on and on
guys there are so many options available
to sell your Bitcoin for US dollars so
before you actually sell your Bitcoin
again you're gonna have to put your
Bitcoin into your local bitcoins calm
account in order to do that you're gonna
click on your wallet here and you're
gonna click receive Bitcoin and just
like you did in coinbase guys wherever
you hold your Bitcoin whether it be your
Exodus wallet your trays our blockchain
info you're going to send your Bitcoin
to this address and once your Bitcoin is
here on local bitcoins calm then you'll
be able to sell them so what you're
gonna do after your Bitcoin is on your
account you're gonna click sell bitcoins
and you can use these little windows
here to fill out your specifications
about how you want to sell so how much
Bitcoin do you want to sell I'll say I
want to sell a thousand dollars worth of
Bitcoin what currency do I want to sell
it for you can choose any currency of
course I'm gonna select US dollars I do
live in the United States what country
am I in the United States and how do I
want to make this transaction I'm just
gonna click PayPal as an example guys
you can really use any method that you
want and then I'm gonna go ahead and
click search and this will bring up all
the people in the United States who are
buying Bitcoin and who want to buy at
least $1,000 worth of Bitcoin now just
so you guys know these little sections
here on this table you have the trader
this is the name of the trader right
here the payment method of course I
selected PayPal so these are all going
to be using PayPal price per Bitcoin
this is the price that Bitcoin was when
they posted this advertisement so
actually this is pretty cool you might
actually be able to sell your Bitcoin
for more money than it's currently worth
on coin market cap or even coin base and
then the limits this is how much they're
willing to pay this person here will pay
as little as $50 to buy $50 worth of
Bitcoin and as much as $5,000 to buy
$5,000 worth of Bitcoin and
were in between so I'm selling $1,000
worth of Bitcoin so all these people are
buying $1,000 worth of Bitcoin so when I
choose my seller you can click the name
of the seller to get more information
about them some helpful information the
number of confirmed trades that they've
done their feedback score real name
verification when they first created
their account their email is verified
their phone numbers verified their ideas
verified you know make sure they're a
safe seller and then once you find
somebody that you want to sell your
Bitcoin to you're gonna click the sell
button and this person is going to
require identification hang on here we
go
now once you click sell you can then you
know how much bitcoins I wish to sell I
wish to sell $1,000 a Bitcoin and then I
type in my paypal email address and then
I simply just click send trade requests
now you may be wondering how do I know
I'm not going to get ripped off here
well local bitcoins calm uses something
called escrow and escrow is a legal
concept in which an asset in this case
Bitcoin is held by a third party on
behalf of two other parties that are in
the process of completing a transaction
the asset is held by the escrow agent
until it receives the appropriate
instructions or predetermined
contractual obligations have been been
fulfilled
so essentially guys on local bitcoins
calm when a trade is started local
bitcoins will hold the Bitcoin from the
trader and keep it stored safe in the
escrow account until the trade is
completed there's no risk of losing your
Bitcoin just a quick note guys when
you're selling your Bitcoin always make
sure to wait until you receive the money
before releasing the Bitcoin don't
settle for a screenshot of somebody
saying look I sent the funds duh don't
settle for anything other than actually
receiving the money because a lot of
people have gotten scammed by releasing
their Bitcoin too soon by trusting
somebody when they should have just been
a little bit more patient and waited
until they had the money so guys I don't
actually have any bitcoins to sell
my local bitcoins calm account but once
you click send trade request then the
whole process will be started and this
is a great easy way to sell your Bitcoin
especially if you don't want to deal
with a company like coin base which is
the US company alright guys so I hope
you found this video helpful if you
enjoyed these videos guys please click
the subscribe button down below and give
this video a thumbs up this is Jay
Krypto and I will see all of you next
time
