Cryptocurrency

How to Convert Bitcoins to Cash Anonymously | 6 Best Platforms to Convert

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Currently, withdrawing or selling cryptocurrencies to convert them into cash or a local currency is the ultimate goal of the process. This way, having all your mining or investment work in cash will fulfill your initial purpose. However, most of the platforms used to withdraw funds request many identification data, which generates delays and inconveniences; in their verification processes. For this reason, we will show you how to convert bitcoins to cash anonymously.

Basic Information

How to Convert Bitcoins to Cash Anonymously

The exchange of bitcoins is not anonymous. The platforms require the necessary documentation to carry out this type of operation. For security reasons, keeping your personal information anonymous will prevent hackers from attacking you. Different methods keep your identity hidden and speed up the withdrawal process. Which are offered by various platforms, and we will name them below:

How to Convert Bitcoins to Cash Anonymously

How to Convert Bitcoins to Cash Anonymously

LocalBitcoins, a tool to use

LocalBitcoins is a service that offers over-the-counter trading of local currency in exchange for cryptocurrencies anywhere in the world. In this way, it works as an intermediary, locating potential buyers near your sales area. It counts; with a simple registration and verification, providing support and help in any problem; that may occur. Its primary function is to establish a buyer-seller connection in a close range, to achieve a person-to-person operation. As you make sales, your profile will level up, indicating that you are a safe and reliable seller.

Bitcoin ATMs

Currently, ATMs have the function of exchanging cash for bitcoins and vice versa. They are usually found in crowded places such as train stations, supermarkets, and shopping malls. Through the Bitcoin ATM Map application, you can locate the one near your point of origin. It is offering the type of cryptocurrency it accepts, limits, fees, and other essential options. Its significant disadvantage; is the commission fee for each withdrawal made. It is usually very high.

Buying in online stores

Currently, both retailers and large companies such as Amazon accept payment for their products with cryptocurrencies. It will allow you to buy gift cards or effects in demand and then sell them, converting your bitcoins into cash. An ideal site to resell this type of item is eBay.

Cryptocurrency mixing

It is a process that attempts to break linkability or traceability. In this way, it tends to break the link between Bitcoin addresses. Thus, creating temporary addresses or exchanging coins with different addresses; of the same value. It allows the trace to be challenging to follow on the blockchain. Commingling also refers to Bitcoin laundering, Bitcoin dropping, and Bitcoin laundering.

Use the Tor-Onion router

The idea is to use the Tor browser; when using your bitcoin transactions, which has the anonymity feature. Created by a community based on anonymity and using the internet without surveillance, the Tor feature allows your transactions to be untraceable to your IP. This way, there is no way to link activities while maintaining your anonymity. The application is free and fast compared to chrome.

Paxful; an option to consider

It is a marketplace; powered by people for money transfers, anywhere, anytime. Therefore, you can sell and buy bitcoins directly from anyone; without the involvement of any middleman.

Bottom Line

Currently, the world of cryptocurrencies is becoming more and more firmly established due to their security and ease of acquisition. However, they are currencies that depend on the value of the local currency. For this reason, it is essential to have the proper process to withdraw these funds acquired by mining or investment. Taking care of sensitive information, such as your personal and banking data, is a priority. Remember that without them, no hacker can access your accounts.

At this point, we have all the necessary and relevant information to decipher the enigma; of how to convert bitcoins to cash anonymously. The use of this material will allow a safe and comfortable process of your transactions. In this way, you must evaluate and decide which option the most convenient when is converting your bitcoins into cash without leaving a trace. Remember, safeguarding your sensitive data securely is the first step to protect your interests.