Bitcoin (BTC) is the world’s first cryptocurrency. BTC is listed on many crypto exchanges, so Bitcoin holders can trade their coins easily. But what about converting Bitcoin to fiat currencies?
There are some easy ways to convert BTC into USD, INR, EUR or GBP, some of which are listed below.
Via Fiat Accepting Exchanges
The easiest way is to find out fiat accepting exchanges in your country. You can then sell them your Bitcoins in exchange for fiats like USD, EUR or GBP. Some of the exchanges that allow you to do so are listed below.
There is another option of P2P selling/buying of Bitcoins via LocalBitcoins.
LocalBitcoins
LocalBitcoins is a Bitcoin start-up based out of Helsinki, Finland, which has been operating since 2012. It is a P2P Bitcoin exchange. It has on-ground buyers and sellers in more than 16,000 cities across 248 countries. Chances are, you will find a buyer in your country via LocalBitcoins.
The beauty of Localbitcoins is that you dealing with the buyer directly and you can receive money in any of the supported formats (bank deposit, PayPal, Payoneer, cash). When it comes to converting Bitcoin into fiat, Localbitcoins is one of the most preferred choices of those who don’t want to use an exchange.
You can meet buyers/sellers online and execute a trade offline. You can either pay in cash or wire the amount. You can also choose from various other options like PayPal or SEPA or direct bank deposits for converting Bitcoins into cash (USD, EUR, INR, JPY, CNY, AUD, Dinar etc) [all depending on the buyer/seller].
You can simply filter your country based on the payment mode you want to choose. Just so you know, all the fees here is set by the seller while LocalBitcoins acts as an escrow manager.
Note. Be sure to check the reputation of the buyer/seller; a higher reputation means a more trustable buyer/seller.
