The globally changing regulatory environment, and the involvement of tax authorities, has caused several crypto exchanges to change their business model. For example, popular crypto exchange Binance provides only crypto-to-crypto trading ability for crypto holdings.
This has made it difficult for new investors to participate in the crypto market. Likewise, existing investors find it difficult to withdraw their crypto holdings in fiat. However, there are still a few crypto trading platforms which allow investors to cash out on their crypto holdings. Here’s a look at some of the available options.
Coinbase for your Crypto Holdings
With a presence in over 30 countries, Coinbase has the largest number of registered cryptocurrency investors. The exchange provides verified investors with an absolute hassle-free service, to withdraw their crypto holdings in fiat.
Currently, Coinbase supports trading in only four crypto assets – Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) and Bitcoin Cash (BCH). However, the exchange recently announced they are considering listing several different asset classes.
Gemini
This U.S.-based exchange has established a name for itself as one of the most credible crypto trading platforms. The crypto exchange supports only two digital currencies – Bitcoin and Ethereum.
Gemini customers can seamlessly withdraw their crypto holdings directly to the bank accounts. Consequently, the exchange allows wire transfers or ACH depending on one’s requirements.
Bitstamp
This Luxembourg-based cryptocurrency exchange is popular for supporting individual as well as business accounts. Besides Bitcoin, Bitstamp also supports other altcoins like Ethereum, Litecoin, XRP and Bitcoin Cash.
Bitstamp also contributes to very high daily trading volumes in the cryptocurrency market. Additionally, the crypto exchange supports withdrawals in two different fiats – USD and EUR. Meaning, U.S.-based customers can opt for direct wire-transfer when required.
BitQuick
The P2P platform is famous for its seamless trading experience, along with a higher level of privacy. BitQuick facilitates “on-site escrow and manual verification of buyer payments” providing nearly anonymous transactions.
BitQuick provides a multitude of options to cash out on your crypto holdings. This includes fiat cash deposits to a CO-OP credit union, Cash-in-hand transactions, or using other payment process platforms like Moneygram and Western Union transfers.
LocalBitcoins
This private Finnish service provider has made a name for itself as one of the most trusted crypto platforms. This platform provides a range of fiat options like AUD, USD, EUR, GBP, CAD, CNY & 50+ more, to withdraw you cryptocurrency holdings.
Additionally, it also supports cash out options in third-party platforms and wallets. For e.g. one can withdraw funds into PayPal, Western Union, Google Wallet, Amazon Gift Card, and other options.
Apart from Bitcoins, the platform hosts several altcoin options like XRP, Ethereum, Litecoin, Monero (XMR), and Dash (DASH).
RISK DISCLOSURE
This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.
