How to Cash out Bitcoin 2020

If you want to know how to cash out bitcoin in 2020 you have found the right article.

The easiest and safest way to convert bitcoin to cash is through the bitcoin exchange Coinbase.

Coinbase is one of most popular and most reputable bitcoin and cryptocurrency exchanges on the market. It is trusted by more than 30 million traders world wide and it has some of the strongest security features of all platforms.

They are also licensed and regulated as a Money Transmission Service in the USA.

I’m going to give you an easy step by step guide exactly on how you can convert bitcoin to real money and how to transfer bitcoin to a bank account.

In short, these are the 3 steps:

  1. Create an account with Coinbase.
  2. Connect your Bank Account with a first Bank Transfer.
  3. Once connected, you can transfer bitcoin to your Bank Account.

It will take some time for your inital transfer to land in the Coinbase account but then when it’s done you can cash out bitcoin when ever you want.

Also remember, it takes 2-5 work-days for your bitcoin to arrive in your own bank account once you have made a withdrawal from Coinbase.

How to cash out Bitcoin – Step by Step guide

how to cash out bitcoin

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Before you can exchange bitcoin for real money you need to create and account with Coinbase.

You will have to send in your KYC documents but that doesn’t take long at all and it’s definitely worth the effort.

Then, in order for you to connect your own bank account to coinbase you need to make a first deposit from your bank account.

When this is done, your account will be connected to Coinbase and you can to cash out bitcoin to real money.

Coinbase will accept deposits made with USD, EUR, and GBP.

So, if you are done signing up with Coinbase, let’s go through the steps.

How do you cash out Bitcoin – Step 1

On the Coinbase first page, click Portfolio in the top left corner.

cash out bitcoin on coinbase

On this page you will see you full portfolio balance, including digital assets and fiat currencies.

Can Bitcoin be converted to Cash – Step 2

The next step is to click the top fiat currency in your portfolio.

For me it’s EUR, but you can choose between USD and GBP aswell depending on your country.

convert bitcoin to cash on coinbase

How to cash out Bitcoin – Step 3

When you have clicked the top fiat currency in your portfolio balance, this window will pop up:

Here you want to click Deposit to make a first deposit to coinbase to connect your bank account.

You can see some of the transactions I’ve made where I’ve sold bitcoin for money to my bank account.

How do I transfer Bitcoin to my Bank Account – Step 4

The next step after you click Deposit is to fill in your bank details and your name that’s on your bank account.

You also want to select the amount you want to deposit and your preferred Fiat currency.

how to cash out bitcoin on coinbase

EUR, USD, and GBP are the three accepted fiat currencies when makin bank transfers to Coinbase.

The reason you need to fill in this information is because Coinbase will verify the incoming Bank Transfer with your name and your banks name.

When you have filled in all the details, click Continue.

How do you cash out Bitcoin – Step 5

After you click Continue, a new window will pop up.

Here you will see the Coinbase Bank Account details and this is where you want to send your money.

exchange bitcoin for real money on coinbase

When you log in to your own bank, fill in this information when you are making the bank transfer.

Can Bitcoin be exchanged for real money – Step 6

The last thing you want to do is to log in to your bank, use these bank details and make a deposit to Coinbase with your bank account.

This bank wire will take between 2-5 work days to arrive but as soon as it has arrived your bank account will have been connected to Coinbase.

That’s how to cash out bitcoin in 2020, the safe and easy way.

This is definitely the best way to exchange bitcoin for real money and you will be able to transfer bitcoin to your bank account as often as you want.

Now, when someone asks if bitcoin can be converted to cash, show them this guide and they will be able to exchange their bitcoin for real money in a few short steps.

Can Bitcoin be converted to cash?

exchanged bitcoin for real money

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Yes, bitcoin can be converted to cash.

Today we live in a time where the bitcoin and cryptocurrency infrastructure has gotten some good improvements.

There are probably a few ways to convert bitcoin to real cash and have them trasferred to your bank account.

In my opinion, the safest way to redeem bitcoin for cash is through the broker platform Coinbase.

It’s one of the most popular crypto trading platform and also the most secure one.

What you want to do in order to enjoy your crypto profits in cash is:

  1. Create and account with Coinbase.
  2. Make an initial bank transfer deposit to connect your bank account with Coinbase.
  3. Once connected you can start to convert bitcoin to cash.

That’s it, 3 simple steps.

To learn exactly how to do it, read the step by step guide provided in the beginning.

Conclusion

In this article I teach you exactly how to cash out bitcoin with a step by step tutorial.

The easiest and safest way to exchange your bitcoin to money is through Coinbase.

It’s the safest and most trusted crypto platform on the market today and they let you connect your bank account and then withdraw your bitcoin into USD, EUR, or GBP.

It takes a few days to connect your bank account due to the bank wire transfer time.

Once connected you can start to withdraw as much bitcoin as you want.

FAQs

How to cash out Bitcoin?

The best and safest way to cash out bitcoin in 2020 is through Coinbase. Here are the three steps:
1. Create an account with Coinbase.
2. Make a first deposit with your bank account to connect it to Coinbase.
3. Once connected you can start to cash out bitcoin to your own bank account.

Can Bitcoin be converted to cash?

Yes, there are several ways to do it but I strongly recommend that you use Coinbase.
Read the full step by step tutorial in this article to learn exactly how to do it.

How do I transfer Bitcion to my bank account?

If you use the Coinbase platform you will be able to transfer bitcoin to your bank account in a few days.
Read this guided tutorial on how to do it.

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