Yesterday we talked about how to trade Ethereum, or rather Ether (ETH) since Ethereum is the blockchain. There are different options for doing that, but when it comes to cashing out … there are only a few plausible ways.
Of course, you could always set up a personal deal with someone, and trade your ETH for their USD. Whether you meet them on a forum, P2P trading platform or just Facebook, it’s still considered peer-to-peer trading.
We just don’t think it’s very appealing, since doing a cash trade requires you to meet up with this person, who is quite likely a stranger. How do you know the location is safe, and how do you know this person won’t rip you off or rob you of your belongings? I mean, it might be a negative view of the whole thing, but this method of trading seems so archaic. Not to mention dangerous, creepy, and just plain unnecessary.
The fastest and easiest way to cash out your Ethereum Ether is using a Bitcoin ATM. But not just any Bitcoin ATM. There are two criteria: 1. It must be a Bitcoin ATM that’s compatible with Ethereum. 2. It must be a Bitcoin ATM that allows you to cash out (almost 80% of US-based machines do NOT allow this!)
“Wait a minute,” you might be thinking. “Why would something called an ATM not allow me to withdraw cash?” Yeah, it’s a good question.
The truth is that only 20% of all Bitcoin ATMs actually allow you to cash out. Instead, they let you BUY bitcoin (and sometimes a few other currencies) with cash, but the machines aren’t capable of feeding that cash back out. They’re one-way (unidirectional) only.
You wouldn’t be alone in thinking that a machine isn’t anything like an ATM if it doesn’t let you withdraw cash.
And yet, 80% of self-proclaimed Bitcoin ATMs don’t let you get cash, because it’s much more expensive to build and maintain a two-way (bidirectional) machine. There’s more complex hardware, more robust software, higher manufacturing and repair costs, and more armored truck services required.
But guess what? 100% of Coin Cloud Bitcoin ATMs are two-way, AND they let you cash out your Ether (plus 30 other currencies).
Coin Cloud is the compliance leader, so all your transactions are safe. If you need help or have questions, our best-in-class customer service team is available 7 days a week.
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.
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.
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