Investing the cryptocurrency is somewhat complex and requires a crypto exchange platform from where you can buy, sell or exchange the crypto coins. There are many crypto exchange platforms. Suppose you have confusion in choosing one of them. In that case, you can try KuCoin as it is one of the most recommended platforms for crypto exchange, and almost 25 percent of all the users outside the United States are using the KuCoin as their crypto exchange platform.
The primary purpose of using KuCoin for crypto exchange is its vast features. The most crucial part of KuCoin is its trading bot. Other than that, it offers a bitcoin exchange and mining pool and has its coin KCS that you can use to trade between more than 400 coins.
The cryptocurrency exchange process into real money is only recommended once you have sufficient coins to trade and withdraw. The experts recommend starting 50% of the profit from the crypto exchange once a month.
How To Exchange Crypto For Cash
Investing in crypto is complex but withdrawing money from crypto to turn it into cash is far more complicated. If you know the proper steps, you can do it quickly. The major hurdle in converting crypto to regular currency is their nature. Regular currency or fiat currency is a centralized currency that is issued by banks and regulated by the government. On the other hand, cryptocurrency is a free currency, and no third-party transaction is required to send the crypto from one person to another.
The first step in any crypto exchange for cash is crypto transfer to a crypto wallet. There are several types of crypto wallets like coin base, electrum, and others. All of these crypto wallets have their features and support different coins. If you invest in a particular coin, make sure that your selected wallet also supports these coins; otherwise, you have to exchange your cash for other currencies supported by the wallet.
If your wallet does not support your coin, exchange the cash for some other common currency like bitcoin or Ethereum by sending the coin from the main account to the trading account and selling them. When selling your coins, make sure that you are selling them 100% of the market price.
Once you have converted your coin into BTC, take it into your main account and send that to your wallet. This will require authentication and security checks, and once you clear it, it will take about half an hour or more to send you coins from the exchange platform into your wallet.
In the crypto wallet, convert your BTC that is received from the crypto exchange to your country’s currency and send it to your bank account or debit card.
There is a small fee on each transaction, so it is recommended to withdraw money from crypto when you have a sufficient amount. You can also leave the amount in your crypto wallet but leaving the money produces no profit, but investing it in a fair coin will surely make a profit.