How Do I Cash Out My Bitcoin?

How to Withdraw Bitcoins to Cash
By 
Coin Cloud Team
, published on 
August 28, 2020
How Do I Cash Out My Bitcoin?

Are you looking to trade your bitcoin for cash? You might assume that you can do that at any Bitcoin ATM, but the truth is: less than 1/3 of all BTMs allow you to cash out your bitcoin.

Coin Clouds are 100% Two-Way, Yay!

Luckily, 100% of Coin Clouds are two-way, allowing you to sell your bitcoin for cash just as easily as you can buy it. And our one-of-a-kind ecosystem, which includes our advanced CoinCloud Wallet app, lets you do it even faster and more easily.

Fun Fact: Did you know that 60% of all two-way Bitcoin ATMs in the USA are Coin Cloud machines?

Yup, it’s true. Most of the other large Bitcoin ATM operators have over 95% one-way machines, which only allow you to BUY bitcoin, not sell it for cash.

So you’re going to want to use a Coin Cloud, and the fastest way to find one is to use our locator map, which is on our website but also inside the app. We’re going to assume here that you’re using the free CoinCloud Wallet app to do your sell, because it cuts down the steps and time required significantly.

How to Cash Out your Bitcoin (Under $25,000)

  1. Open your Coin Cloud Wallet app
  2. Under “Nearest Coin Cloud ATMs,” find your favorite one
  3. Choose “Quick Cash” under your closest machine
  4. Enter the unique identifier code texted to your phone
  5. You will be shown the Sell Limit for that machine; proceed by choosing “Start”
  6. Enter the amount in USD that you wish to withdraw (in denominations of $20 and $100)
  7. Choose “Proceed” and confirm your cash amount
  8. Select the wallet you are selling from, or enter your wallet address if it’s not displayed
  9. Head to the machine while the transaction is being processed (about 10-15 minutes on the Bitcoin network); note that your cash is reserved for up to 48 hours
  10. At the BTM, log in with your phone number to dispense your cash

How to Cash Out your Bitcoin (Over $25,000)

If you have a full bitcoin to cash out, or “bitcoins” plural, you’re not going to be able to use a BTM, because the limits probably aren’t high enough. Although even then, most BTMs aren’t going to have that much cash in them.

But we do have an option for high-dollar cash transactions, which is our Over-the-Counter (OTC) trading desk. For this option, just call us at 855-264-2046 and ask to do an OTC transaction. You don't have to do the trade in person at our Las Vegas head office, and leave with your cash in a suitcase. It's actually done remotely, through wire transfer technology, and is super easy.

The OTC option is available for any transactions over $25,000 USD.

Disclaimer: The information and views supplied on the Coin Cloud blog are for educational and entertainment purposes only. We are not financial advisors, so please do your research and consult with a trusted financial specialist before investing your money.

What is Coin Cloud?

Founded in 2014 in Las Vegas, Nevada, Coin Cloud is the leading digital currency machine (DCM) operator. With over 4,500 locations nationwide, in 48 states and Brazil, Coin Cloud operates the world’s largest and fastest-growing network of 100% two-way DCMs, a more advanced version of the Bitcoin ATM. Every Coin Cloud DCM empowers you to quickly and easily buy and sell over 40 cryptocurrency options with cash.

Get $25 in FREE Bitcoin

When You Buy $150 or More at Any Coin Cloud DCM

Use promo code COINCLOUD at the machine

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