You buy bitcoin online in Canada and now you want to convert it into cash and get your profits. How exactly do you convert your bitcoin into cash?

The first thing you should do is to know when to hold and when to liquidate your digital assets. Many bitcoin holders wait longer before they sell their crypto but there may be times when you would want to sell yours right away.

You should first determine your preferences when it comes to receiving your fiat money. There are different ways to do this such as a third-party exchange or you have it transferred to your bank account. You can also sell and buy bitcoin cash in Canada.

Use a Cryptocurrency Exchange to Convert Bitcoin

If you want an easy and user-friendly approach to selling your bitcoins and converting them into real money, use a cryptocurrency exchange such as Vancouver Bitcoin. You can buy bitcoin cash in Canada using their online platforms.

You will need to sign up for their platform and go through a verification process. Depending on the crypto exchange, they might require certain documents to ensure that you will not use the money for money laundering purposes. Once you have been approved, you can link your bank account to the exchange. You also need to have a wallet to hold your crypto. When you deposit money to the account, you can use that directly on the platform to buy your bitcoin.

These exchanges also have an option to sell. Just find that button and click. It will process it for you and then transfer the cash to your bank. However, this method takes some time. It takes anywhere between 1 to 5 days for the money to be credited to your account.

Use Local Coin Swap

It allows you to sell directly to the buyers using a P2P platform. What is great about this is that it has a broad reach. You also don’t have to worry about a middleman since you will directly interact with the buyers. To protect both parties, this platform has an escrow service. It also gives you more flexibility when it comes to how much you are going to sell your bitcoin. You can also choose your preferred method of payment.

Use Bitcoin ATM

If you don’t like signing up for anything, using a Bitcoin ATM is a good option. You can go to a Bitcoin ATM and buy Bitcoins using fiat money. Use the same ATM to sell your bitcoin. You just need to find one near you.
Use these methods so you can encash your bitcoin and start earning money from them.