Fortunately, converting bitcoins to a usable currency like dollars is quick and easy. If you want to know how much bitcoin is worth, run a quick internet search on the subject. If you want to actually convert bitcoin to dollars, deposit them in a digital marketplace and sell them to an interested buyer. Compare the rates offered by different conversion services and choose the best one. Even when the average bitcoin conversion rate improves, different conversion services offer different conversion rates. Convert your bitcoin using a service with low fees. Conversion services typically charge a fee for conversion.
Sometimes there is a flat fee no matter how much you exchange, and sometimes the conversion service charges a percentage of the amount you exchange. Compare the fees associated with the various conversion services and select one that offers the best deal. Verify that the service you’re using is safe. There are several ways to verify that a bitcoin conversion site is safe. One is to check reputable sources for reviews that verify the integrity of a given site.
Select a service that offers low transfer times. Some sites transfer bitcoins to your account after 5 days, but faster services could convert your bitcoins to dollars in 3 days or less. Signing up for an account involves providing your name, date of birth, address, email address, phone number, and other personal information. Select the strongest security options when you sign up. You might also want to enable a multi-signature option, which requires multiple independent approvals before making a bitcoin conversion or withdrawal. Deposit your bitcoins in the marketplace. The specific mechanism by which you deposit your bitcoins will vary depending on how your bitcoins are currently stored.
Don’t be afraid to reach out to customer support if you’re having trouble depositing your bitcoins. Convert your bitcoins when the exchange rate is favorable. Over time, exchange rates rise and fall. Wait to exchange your bitcoins until the corresponding dollar value rises. Check the exchange rate regularly online or sign up for a service that updates you on the bitcoin-to-dollar exchange rate so you’ll know when it improves. Sell your bitcoins in the marketplace.