- Bitcoin primacy among cryptocurrencies is recognized by all experts in the field of finance.
- How to exchange bitcoin for dollars and other currencies Such services are provided by special services, traditional and p2p exchanges
- However, each method has advantages and disadvantages. Any operation is associated with some risks.
Bitcoin primacy among cryptocurrencies is recognized by all experts in the field of finance. Many people who have heard of trading think about working with this coin, considering it the best. But the reality is that other types of electronic money may be of interest or it will be necessary to transfer BTC to fiat. We will talk about how to complete this task in the article.
How to exchange bitcoin for dollars and other currencies
Such services are provided by special services, traditional and p2p exchanges, crypto, bitcoin wallets. the main process is quite simple: you need to specify the details of the systems and the desired amount. However, each method has advantages and disadvantages. Any operation is associated with some risks.
Exchanges
Crypto companies are the primary tool for dealing with digital money. Depending on the conditions of the site, their clients can exchange BTK for fiat or other types of crypt. BTK and dollars are the most popular currencies in the world, therefore they are traded on almost all exchanges. The exception is decentralized platforms that work with a specific blockchain.
To work with a crypto company, you need to transfer assets to its account after registration, decide on a trading pair, create an order that allows you to make an exchange at market value, and then conduct a transaction.
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Among the advantages are noted:
- a wide range of exchange options;
- availability of additional functions;
- favorable rates and lower commissions.
The disadvantages include the following:
- the need for verification;
- the danger of storing assets on the site’s account.
The exchange on p2p exchanges takes place somewhat differently. Here, all transactions are carried out between traders, and the company only provides a platform. It ensures the security of the transaction, fully controls the process and minimizes fraud.
The algorithm of actions is as follows:
- Register and go to the sales section.
- Using filters, find the best deals.
- Reply to the ad and give the person the details for the transfer.
After receiving payment, you need to confirm the operation on the site and leave a review. The benefits include no need to transfer funds to a third party and a variety of payment directions. Among the shortcomings, the following are noticed:
- it is difficult to find perfect offers;
- verification is required to place an order.
Exchangers
Such services are very popular. They do not require registration and identity verification, there are no requirements for clients. When making a transaction, you just need to indicate your email or phone number. Since there are many exchangers, we recommend using the services of aggregator sites. There is a selection of the best services you can trust. When choosing, you need to study the following indicators:
- buying and selling rate;
- the maximum and minimum amounts that you can work with;
- asset reserves;
- specifics of conditions and availability of special options.
The exchange process goes like this:
- A suitable service is selected.
- The exchange currencies (bitcoin to dollar) are indicated.
- Choose a method of receipt (e-wallets, bank cards, crypto, bitcoin-exchanges, mobile operators).
- Press the button to confirm the operation.
- Pay for the application.
- Wait until the funds are credited (usually at least an hour).
The advantages of the method include ease of operation and minimum requirements for users, referral programs and cumulative discounts. Among the minuses, the need to spend time looking for an exchanger, a small selection of trading pairs, and the risk of fraud stand out.
