How Do I Cash Out My Bitcoin?
How to Withdraw Bitcoins to Cash
Are you looking to trade your bitcoin for cash? You might assume that you can do that at any Bitcoin ATM, but the truth is: less than 1/3 of all BTMs allow you to cash out your bitcoin.
Coin Clouds are 100% Two-Way, Yay!
Luckily, 100% of Coin Clouds are two-way, allowing you to sell your bitcoin for cash just as easily as you can buy it. And our one-of-a-kind ecosystem, which includes our advanced Coin Cloud Wallet app, lets you do it even faster and more easily.
Fun Fact: Did you know that 60% of all two-way Bitcoin ATMs in the USA are Coin Cloud machines?
Yup, it’s true. Most of the other large Bitcoin ATM operators have over 95% one-way machines, which only allow you to BUY bitcoin, not sell it for cash.
So you’re going to want to use a Coin Cloud, and the fastest way to find one is to use our locator map, which is on our website but also inside the app. We’re going to assume here that you’re using the free Coin Cloud Wallet app to do your sell, because it cuts down the steps and time required significantly.
How to Cash Out your Bitcoin (Under $25,000)
- Open your Coin Cloud Wallet app
- Under “Nearest Coin Cloud ATMs,” find your favorite one
- Choose “Quick Cash” under your closest machine
- Enter the unique identifier code texted to your phone
- You will be shown the Sell Limit for that machine; proceed by choosing “Start”
- Enter the amount in USD that you wish to withdraw (in denominations of $20 and $100)
- Choose “Proceed” and confirm your cash amount
- Select the wallet you are selling from, or enter your wallet address if it’s not displayed
- Head to the machine while the transaction is being processed (about 10–15 minutes on the Bitcoin network); note that your cash is reserved for up to 48 hours
- At the BTM, log in with your phone number to dispense your cash
How to Cash Out your Bitcoin (Over $25,000)
If you have a full bitcoin to cash out, or “bitcoins” plural, you’re not going to be able to use a BTM, because the limits probably aren’t high enough. Although even then, most BTMs aren’t going to have that much cash in them.
But we do have an option for high-dollar cash transactions, which is our Over-the-Counter (OTC) trading desk. For this option, just call us at 855–264–2046 and ask to do an OTC transaction. You don’t have to do the trade in person at our Las Vegas head office, and leave with your cash in a suitcase. It’s actually done remotely, through wire transfer technology, and is super easy.
The OTC option is available for any transactions over $25,000 USD (a little less than one BTC at today’s price).
What is Coin Cloud?
Coin Cloud is a digital currency machine company headquartered in Las Vegas, Nevada. With over 1,300 locations nationwide, Coin Clouds are the world’s largest and fastest-growing network of two-way digital currency kiosks, commonly known as Bitcoin ATMs or BTMs, and the majority of all two-way machines in the U.S. Since 2014, Coin Cloud has helped hundreds of thousands of customers buy and sell cryptocurrency and other virtual currency quickly and easily. You can find your nearest Coin Cloud here.