How to convert Ethereum to cash: popular methods

WhitepayPosted 15.09.2022 • 5 mins read
How to convert Ethereum to cash: popular methods

Bitcoin is by far the most popular cryptocurrency, followed by Ethereum. In past articles, we have already covered how to convert Bitcoin - now it's time for Ethereum.

Withdrawing Ethereum into cash is easier than you might think. Even for those who haven't thought about this question before. So how do you convert Ethereum? Why withdraw cryptocurrency?

The popularity of cryptocurrency is gaining momentum every day. Therefore, you should understand how to convert Ethereum. If you want to sell cryptocurrency and withdraw Ethereum to cash, here are some of the best ways to do it.

Can you turn Ethereum into cash?

Yes, you can cash out Ethereum. It's up to you and each crypto holder to decide whether you want to keep crypto on your cryptocurrency wallet or to turn crypto, for example, Ethereum, into cash. 

The most common and comfortable way to transfer Ethereum to USD, EUR, or other fiat currency is using a crypto exchange. Ethereum is an eminent coin and is traded across the majority of exchanges. Also, there are different ways to withdraw money from an Ethereum wallet.

How to convert Ethereum to cash: 4 most popular methods

There are four common ways to transfer:

  • Convert Ethereum via a crypto exchange 

  • Withdraw cash using a crypto ATM

  • Use Peer-To-Peer Crypto Exchange

  • With a crypto debit card 

It is best to understand how each method works to choose the one that suits you best. Each has its characteristics, advantages, and disadvantages. Then you will be able to convert cryptocurrency quickly and easily.

How to use a crypto exchange to convert Ethereum to real money

A cryptocurrency exchange is one of the easiest and fastest ways to convert cryptocurrency into fiat. If you already use a cryptocurrency exchange, such as WhiteBIT, you can quickly sell Ethereum.

To convert cryptocurrency into cash, you need to log into your account, select a coin (in this case, Ethereum), and the amount you want to sell. It will bring up a window detailing the operation and the transaction fees. You also need to select the currency to convert and confirm the process. That's it. Then you are free to transfer the cash to your bank account to withdraw at your convenience.

To cash out Ethereum via crypto ATM

Crypto ATMs are prevalent and can be found in almost every city. It is a convenient way to withdraw cryptocurrency here and now. These ATMs allow you to convert, sell and buy cryptocurrencies in just a few minutes. 

With crypto ATMs, you can scan a QR code to convert Ethereum and get cash. However, it would be best if you kept in mind that converting Ethereum into fiat is a taxable operation. And the fees at such ATMs are pretty high. 

Use Peer-To -Peer to convert ether

Cryptocurrency exchanges allow you to store and convert cryptocurrency quickly, but you should also look at peer-to-peer exchanges. This method provides sellers and buyers to negotiate terms without an intermediary. This will save money for both users. P2P transactions are more complicated than card withdrawals or exchange transactions, but this method puts a greater degree of control in the hands of users.

Withdraw Ethereum with a crypto debit card

You can spend your cryptocurrencies on everyday goods and services with a crypto debit card. Selling and cashing out Ethereum or any other cryptocurrency is possible with crypto debit cards. 

Crypto cards work like a usual debit card, only it takes funds from your crypto wallet instead of your bank account. There are quite a few cryptocurrency cards, which differ in terms, perks, fees, and other features.

What is the easiest way to cash out Ethereum?

We've broken down the most common ways to convert and withdraw Ethereum from your cryptocurrency wallet. Each platform has a unique process, so it's worth choosing the one that currently works for you. Keep in mind that converting crypto into fiat is a taxable operation no matter which method you use.

Now when you understand how to withdraw money from an ethereum wallet, let’s discuss transaction time. And how long does it take? In general, a few minutes. Mainly if you use a cryptocurrency exchange or cryptocurrency debit card. This way, you can convert Ethereum into fiat currency almost instantly. Selling on a P2P exchange involves a better exchange rate, but may take longer.