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How Can You Convert Your Cryptocurrency into Fiat Currency?

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For my full course on Blockchain and Bitcoin Fundamentals, go here: https://georgelevy.com/bbfytpop2 One of the students of the Cryptocurrency Fundamentals course asks "How can you convert your cryptocurrency into fiat currency such as US Dollars, Euros or Yen?" In this video, I answer his question and I share with you five easy ways you can convert your cryptocurrency such as Bitcoin, Ethereum, Litecoin, Monero and others into fiat currency. Sign up to receive George Levy's FREE email newsletter and a video email course on blockchain, Bitcoin and cryptocurrency ($47 Value yours free) at: https://GeorgeLevy.com/Free Find out more about the Cryptocurrency Fundamentals course at: http://cryptocurrencyfundamentals.com Learn how to easily buy, sell and trade Cryptocurrency in an easy to follow course. Includes a valuable downloadable PDF "Cryptocurrency Exchange Starter Guide" to get you started buying, selling and trading cryptocurrency quickly, safely and effectively. For more information on the Blockchain Institute of Technology, visit https://BlockchainInstituteofTechnology.com
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Text Comments (61)
Shiri Hotep (2 months ago)
very informative
George Levy (2 months ago)
Thank you Shiri Hotep. I am glad you have found it informative and I hope you are able to use this information in a valuable way for your own purposes. One blockchain at a time, George Levy
Mehedi Hasan (3 months ago)
Thank you very much, Its a very important issue bcoz for bead and butter lot of crypto enthusiast/miner do need to change their crypto . Coinbase/tenx is not operating in my country Bangladesh . so i am going to try ohter ones you told on the vid.
Robert Eby (4 months ago)
My question is how exactly do I convert it? Do I transfer from say, Exodus to Binance then how do I get it to fiat? is there a button or help there. I need details.
George Levy (4 months ago)
That is excellent to know (I didn't know you were in Canada - love it there :-D) I is my pleasure and wishing you the absolute best!
Robert Eby (4 months ago)
Thanks for getting back to me. I found for Canadians, I can use Coinsquare, as Coinbase does not allow the transfer into CDN dollars or the transfer to Cdn banks. Thanks again...
George Levy (4 months ago)
Hi Robert, Great to read from you and thank you for your comment. There are multiple ways... One of the easiest and most popular is to work with a provider such as Coinbase (coinbase.com), which will enable you to convert your cryptocurrency to Fiat and deposit it directly to your bank account. They can work directly with Bitcoin, Bitcoin Cash, Ethereum and Litecoin. If you are dealing with a different type of cryptocurrency, you may have to do a few more hops like convert your Monero to Bitcoin at another exchange that offers those cryptocurrencies, and then cash the Bitcoin to USD at Coinbase. As far as Binance, it is exclusively Crypto-to-Crypto at the moment although they've been hinting to move to Fiat to Crypto in the near future... but as of now, it's just talk. Thank you again and wishing you much continued success. BTW, if you do not have a Coinbase account yet, you can open a free Coinbase account and receive a $10 bonus whenever you buy at least $100 worth of Bitcoin when you visit the following link: https://blockchaininformer.com/btcwallet One blockchain at a time, George Levy
storm norm (5 months ago)
thanks for the many great examples
George Levy (5 months ago)
It is my pleasure storm norm. Thanks for the comment and I wish you much continued success! One blockchain at a time, George Levy
Gerold Biharie (5 months ago)
Hello George, Great video. But is it better, cheaper (fee) and faster to exchange your crypto into bitcoin, ethereum or ripple and than cash out?? Can you cash out big amounts such as 200000, 500000, 1 miljoen or 2 minjoen? Greets Gerold
George Levy (5 months ago)
Hi Gerold It truly is up to you and where you exchange your cryptocurrency. Some exchanges do very affordable crypto to crypto exchanges while others charge more. As far as if you can cash out big amounts, the answer is yes. You would need to find the right exchange, go through their approval process to get an account and then request to have higher limits. It can be done but given that they are much larger amounts, there will be questions around the source of where the funds came and any "money laundering" issues. Best, George Levy
Daniel Bull Runner Lamb (5 months ago)
If I want to cashout 10,000 of Etherium in gdax how much would I set the limit price? Should I click on any sell order?
George Levy (5 months ago)
Hi Daniel, Thank you for your comment. I do not provide investment advice as I am not a certified financial planner and cannot provide you with guidance on that topic. I wish you much success in your sale whenever you do it. Warm regards, George Levy
Karan Singh (6 months ago)
Also withdrawal into PayPal, PayPal and wire transfer ? Please tell
George Levy (6 months ago)
Hi Karan, Thank you for your comment. At the current moment PayPal does not allow for converting Bitcoins into fiat currency directly (some third party services offer that option such as Coinbase but it's not PayPal as such.) Depending on the cryptocurrency exchange you use, you may have the option to withdraw your fund in fiat using a wire transfer. Warm regards, George Levy Show less
baghdadi momen (7 months ago)
This was really a good explanation
George Levy (7 months ago)
Thanks for the post and very glad you enjoyed it! Wishing you much continued success... One blockchain at a time, George Levy
seo hub (7 months ago)
Thank you for your explanation.
George Levy (7 months ago)
Thank you for your post and it's my pleasure! Warm regards, George Levy
pavel 911 (7 months ago)
nice idea
Jon Lee (7 months ago)
This video is very useful and worth the watch.
George Levy (7 months ago)
Thank you for your post and glad you liked it! Warm regards, George Levy
vee1958 (7 months ago)
George Levy (7 months ago)
Thank you for your post! Warm regards, George Levy
cyril cyril (7 months ago)
Interesting , but will enjoy time when will not need to convert into Fiat
George Levy (7 months ago)
Thank you for your post and you may very well be on to something. Wishing you the very best! Warm regards, George Levy
ABC (7 months ago)
You missed BINANCE , after coinbase
George Levy (7 months ago)
Hi Umar, Thank you for your comment.  Binance is a pure cryptocurrency exchange and does not support trading in fiat. This is why I have not included it. Best, George Levy
joann robinson (7 months ago)
This video needs an update...banks and Visa have taken steps to stop btc to fist....Visa has canceled cards...banks have closed customer accounts for linking to coinbase......this whole cryptoworld is on dangerous ground unless Amazon or PayPal step up soon
George Levy (7 months ago)
Thank you for your post and for the observation. There have been some new developments but the methods presented are still perfectly valid. Warm regards, George Levy
JuicyVeganDwarf (8 months ago)
Good video mate, liked, shared, subbed. Really useful vid and won my vote. Great work keep it up :)
JuicyVeganDwarf (8 months ago)
George Levy most welcome 👍🏼👍🏼
George Levy (8 months ago)
Great to read that and so glad that you have enjoyed it. Thanks for the post!
Kittywampus Drums (8 months ago)
Coinbase doesn't work correctly and fees are ridiculous. All the toher exchanges will take a long time to get verified. You need to have more than one way to cash out to fiat in case something happens to one.
Helene (8 months ago)
I have a Bitpay visa card.I noticed that you did not mention it in your video. Please advise
Surbhi Gupta (8 months ago)
this information was amazing! IF i want to withdraw my crypto from coinbase, back into my bank account (FIAT) - what are the ways to get around the fee structure coinbase has?
Liutauras Lingis (8 months ago)
F gdex and coinbase sucks
Rob Krueger (8 months ago)
Yeah, GDAX/Coinbase now says no personal bank accounts as only business accounts allow ACH transfers; which is what Coinbase wants to use. Of course Coinbase PayPal connection doesn't work either.
Think Big Online Sales (8 months ago)
This video is very informative and worth the watch.
April Watters (8 months ago)
Hello George, So Blockchain is just the wallet? You need Coinbase or a debit card to exchange? I wanted to sell some of my btc in blockchain to pay some bills. Do you think btc will go back up?
Sean Williams (8 months ago)
Which method has the lowest fees?
Mendoza Greg (8 months ago)
try www.bitzapay.org
Francisco Andrade (9 months ago)
I can not get my euros from the coinbase
Javier Ferro (8 months ago)
What happen then? You mean that Coinbase do not want to give your money back?
Darkendevoures (9 months ago)
Thanks man appreciate the clear concise explanation
SoulHattan (9 months ago)
Thanks alot! great explanation.
Jimmy Durmody (9 months ago)
lets say I sell BTC for one million USD on exchanges..how can I withdraw it? Does exchange has ready 1 or 5 million dollars??
Death 4 us (5 months ago)
omba omba we have to in the UK
omba omba (9 months ago)
Only if he's an american, here in EU we don't pay taxes :P
David Phaphon (9 months ago)
I’m jk btw always pay your taxes cause Uncle Sam will get you one way or another. 😭
David Phaphon (9 months ago)
George Levy the real question is how do you withdraw that much money without getting taxed xD
George Levy (9 months ago)
HI Jimmy, Thanks for your comment. That would depend on the exchange you are working with. For some exchanges, 1 or even 5 million dollars is really not that much money. Wishing you the absolute best! Warm regards, George Levy
rifka805 (9 months ago)
This was really a good explanation,thanks!😉
rifka805 (9 months ago)
George Levy thanks dear! I go back to Vienna,to visit my family and friends - your advise is exactly what I needed- I will do the visa card you talked about - Austria uses Euro! I invested in Cryptocurrencies in Europe because hereUS the tax is a little scary!
George Levy (9 months ago)
My pleasure rifka805 and I'm very glad you have found it valuable. Thanks for the post and wishing you the absolute best. George Levy
Crypto Magnet (10 months ago)
George, thanks for the video very informative. I did withdraw some btc from coinbase then transferred to my bank account but they charge me an arm and a leg. It there a cheaper alternative?
AR MS (8 months ago)
I am a traveller. Is there any platform tht use paypal, perfect money, payeer etc tht we can transfer fiat into them instead of directly from the exchanger platform to an account in the bank. I am asking tht because paypal then can convert USD to any other local fiat currencies
Pavel Jelínek (8 months ago)
Well in my country all banx see all another banx as a competitors and still they allow themselfs to send money from one bank to another (for a small fee of course).. Thanx for the answer
Crypto Magnet (8 months ago)
Not yet as of the moment ... it's BTC to coinbase, coinbase converts your btc/bch/eth/ltc to a dollar which in turn deposited directly to your bank account. You want to find a great reserved of BTC/ETH etc then it's at coinbase/GDAX. Maybe someday we can walk to the bank with our Trezors and deposit/withdraw at will. I don't say it will never happen in the future but remember they see cryptos as a competitor. Hope that answers your question. Long live the blockchain "unbank the bank". Geaorge advised was to use GDAX instead of coinbase to save on transaction fees.
Pavel Jelínek (8 months ago)
So you can send BTC directly to your bank? I mean is it possible? And the bank pay you in local? And does this work for other crypto (like XMR, BCN, AEON etc.)? Btw I think that they charged you so much because you sent BTC to bank.. Maybe you should have sent em USD - GDAX supports converting BTC, ETH and some else to USD..

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