What is your preferred method of converting bitcoin (or other crypto) to fiat?
What is your preferred method of converting bitcoin (or other crypto) to fiat?
I know this question has probably been asked a bunch of times before, but with the ever-changing crypto landscape, I’m curious to hear everyone’s latest thoughts.
What method do you find most convenient and cost-effective for converting your crypto holdings to fiat currency? CEXs, P2P, Debit Cards… ? Also curious if any new or up-and-coming techniques are on your radar.
p2p is the choice. cheaper fees since the existence of the digital wallet of our fiay system. and the exchanges we have today such as binance and kucoin do have p2p options already. if one day those dexes will have p2p, people might just be moving to dexes.
but iff you are to also go into p2p, make sure you know how to spot a scam. there are lots of them trying their way to make money as well.
I would say Binance P2P if you’re from a supported country and have access to the payment methods that are widely used there. You could basically get 1:1 in certain cases (Binance doesn’t have any escrow fees). I don’t believe that’s something you could get when dealing directly with a CEX.
I usually exchange my crypto through exchanges but since some exchanges added P2P then most of my crypto is exchanged into USDT first on CEXs and then exchanged USDT into fiat through P2P on the same site sample like Binance or OKX.
Another option is to use Exch exchange I’ve tested this a few times exchange BTC from Exch into USDT in the Ethereum network receive it to my local exchange and exchange it into fiat.