How to turn the Bitcoin in your hand into money? Tutorial on converting Bitcoin into cash

Bitcoin is a digital currency that has gradually become popular around the world since its creation in 2009. Unlike traditional currencies, Bitcoin is a cryptocurrency based on blockchain technology and has the characteristics of decentralization, anonymity and security. Although Bitcoin has great value in the digital world, it is not easy to turn it into cash, especially in some countries and regions that do not support Bitcoin transactions. For this reason, investors understand how to turn the Bitcoin in their hands into money? It is very important. For now, the main thing is to complete the realization in the exchange. Below, the editor of the currency circle will give you a detailed tutorial on how to realize the realization of Bitcoin into cash.

How to turn Bitcoin into money?

Relatively speaking, the safest and most convenient way to convert Bitcoin into money is to do it in an exchange. Currently, exchanges such as Eureka and Binance support it. The following is how to complete Bitcoin on the Eureka exchange. Detailed tutorial on turning cash into cash:

1. Open the official website of OKX Exchange (click to register), enter your email address on the home page, click "Register", slide the slider to the right, complete the puzzle for verification, and then enter The verification code received by email is valid for 10 minutes

2. Then enter the mobile phone number, click "Verify Now" and enter the six-digit number received on the mobile phone The verification code is also valid for 10 minutes

3. Select your country/region of residence and check the Terms of Service, "Risk and Compliance Disclosure" and Privacy Policy and Statement

4. Create a password that must be 8-32 characters in length, 1 lowercase letter, 1 uppercase letter, 1 number, and 1 symbol, such as: !@ # $ % and other conditions

5. After logging in to your account, find the "User Center" icon on the homepage and enter the identity authentication page

6. Different levels of authentication can be carried out according to different needs (note: video authentication needs to be operated on the APP)

7. Click "Transaction" on the homepage - —“Bibi” to enter the trading page

8. Enter BTC in the search box, select the BTC/USDT trading pair, and you can see the real-time market price of BTC

9. Enter the amount of BTC to sell and click Sell BTC to exchange it for USDT

10. Click [Buy Coin] on the homepage - [C2C Buy Coin]

11. Click [Sell] on the [C2C Transaction] page, select [USDT] as the currency, [USD] as the legal currency, and [Bank] as the transaction method. Card] is to use a bank card to conduct transactions, or you can choose other methods, choose the appropriate merchant, and click [Sell USDT] to

Is Bitcoin cashed out as funds?

After Bitcoin is liquidated, it is funds. When Bitcoin or other cryptocurrencies are converted into legal currencies (such as US dollars, euros, etc.), what is obtained is actual funds, that is, funds in the form of cash or bank transfers. This means you can use the funds to buy goods, pay bills, invest in other assets or deposit into a bank account, etc.

Bitcoin liquidation is usually done through a cryptocurrency exchange or broker. You sell the Bitcoin and obtain the corresponding fiat currency. This process can be called "exchange" or "withdrawal". The price of Bitcoin fluctuates based on market supply and demand, so there may be price differences when liquidating, which is one of the factors to consider.

The funds obtained after liquidating Bitcoin can be used freely, but you need to pay attention to tax and legal regulations. In particular, different countries and regions have different tax policies and regulations, and you may need to declare and pay taxes. Therefore, before liquidating Bitcoin, it is recommended to consult a tax professional or legal advisor to understand the relevant tax and legal obligations and ensure compliance.

The above is the detailed content of How to turn the Bitcoin in your hand into money? Tutorial on converting Bitcoin into cash. For more information, please follow other related articles on the PHP Chinese website!