Bitcoins have made the revolution and more and more people want to know exactly how they can be used and converted to regular currencies. It first appeared 11 years ago and it has proven its value and the potential to grow. This is why people around the world engage in Bitcoin trading and invest in learning about blockchain technologies.
It is accessible to everyone now and the goal is to use Bitcoin one day the same way we use dollars for any type of payments. This is the exact reason why so many people engage in Bitcoin investments.
However, at the moment, that is not the case yet because the awareness is not on the wanted level. Very few individuals and businesses accept Bitcoin payments and that’s the reason why many people want to understand how to convert Bitcoin to dollars.
How does the process work?
There are a few ways that Bitcoin owners can convert Bitcoins to cash. The first way is to sell them on any website that supports the exchange of cryptocurrency. This may be the simplest way of selling Bitcoins and withdraw money easily to your bank account. Simply find a trusted website where you can exchange all the Bitcoins you want for the cash according to the current value. Make sure you do your research, so you can get the highest value on the market.
The other way to get cash for the Bitcoins you have is to use the ATM for Bitcoins. At the moment, there are around 2200 ATMs across the globe where you can do that. This is very easy, convenient and fast, so all you need to do is to find out which is the nearest ATM where you can instantly exchange the Bitcoins you own and get the currency you choose.
Additionally, there is an option of obtaining a Bitcoin debit card. Certain websites enabled the users to sell Bitcoins and in return receive a prepaid debit card. Also, there is a possibility of using your Bitcoins for purchasing items from Amazon, so if you need some items and you would like to use up all the Bitcoins you currently have, then this may be the right option for you.
It is important to find out how the exchange works in your country. After you get familiar with the regulations, then you can exchange Bitcoins for so-called fiat currency which is money issued by the government, such as U.S. dollars, euros or any other currency. Before you actually convert your Bitcoins to cash, you need to be aware of the taxes and fees that apply.
Paying taxes cannot be avoided and Bitcoin investors are no different, so when you want to sell Bitcoin for cash you will need to pay taxes for profit. Certain Bitcoin exchanges report the profits automatically, so there’s no way of avoiding payments. There are also certain fees that apply. The only way of avoiding to pay transaction fees is if you sell them to your friends directly.
Assess all these options, and choose the one that suits you the most. Make sure you follow all the procedures, so you obey the rules and stay on the safe side. After you’ve exchanged Bitcoins for cash first time, every next time we’ll be much easier.
The value fluctuation
The price of Bitcoin fluctuates and in order to be sure about the value you need to be familiar with the way it functions. Since it is the centralized currency, Bitcoin is not closely connected with political and economic factors that influence regular currencies. Even though there is a certain supply of Bitcoins available around the world, it is not easy to assess how many will be available on the market.
The value of the entire Bitcoin market depends on many factors that are not always clear. Also, the value of cryptocurrency is largely affected by the way it’s perceived by the public, just like any other currency. Even though it is accepted by many people around the world, it still needs to be embraced by the companies and businesses in order to achieve the free use of this currency.
In case you want to trade your Bitcoins, you need to open an account on a bitcoin exchange platform which takes only a few moments. Consider having a strategy for trading, because it will help you navigate through the trades more easily. Assess your risks and the goals you plan to achieve. If you are interested in trading your Bitcoins and increasing your wealth, visit bitcoin-billionaire.com for more information. Many people tried it and saw for themselves how easy it is to start earning.
At the moment, one Bitcoin equals 9,831.25 U.S. dollars. Even though there have been certain fluctuations, all the experts believe that Bitcoin will rise again. This is the only cryptocurrency known worldwide and accepted by numerous people. There are various predictions about how the value of Bitcoin will evolve.
Tom Lee who was the Chief Equity Strategist JP Morgan and now holds the position of head of research and co-founder of Fundstrat believes that the value of Bitcoin will reach 27,000 U.S. dollars by the summer of this year.
Fran Strajnar predicted that the value of Bitcoin would reach 200,000 U.S. dollars by January of this year. As we can see now, he was pretty wrong. Bobby Lee believes that it will take two decades for Bitcoin to reach one million dollars. For next year, he said the prediction is that Bitcoin will reach $333,000.
John McAfee predicted that the value will go up to one million dollars this year. We have to say this is too optimistic when we take into consideration the value that Bitcoin has at the moment. However, being in touch with all the news will give you the insights you need to get the biggest value of the Bitcoins you have.