Hello there,
As I was driving earlier, this thought came through my mind. I've been accumulating Bitcoin for quite some time now, and at some point eventually I'll have to withdraw it in fiat, at least some of it. I'm not sure when that time will come, and I'm definitely not selling for anything below $50,000, but that's another story. However, I've always kept my bitcoin away from exchanges, and I prefer that it stays that way for obvious reasons that have been discussed numerous times in the forum.
Not only do I want to avoid exchanges but also banks, which is currently the most convenient way to withdraw money, but if I were to move funds to a bank account, they'd get taxed at 24%, which is a huge percentage. I've also thought about Bitcoin ATMs, but the majority of them here require some sort of KYC and feature expensive fees, although they may still be a better option than bank transfers. Is there an actual, reliable way to exchange bitcoin for cash in hand? My best guess would be a P2P transaction in person, but that's quite unlikely.
Well, the first and most important thing is to buy and accumulate as much bitcoin as you can and keep it secure until it reaches some value on which you are willing to sell and gain profits. The thing is that you need to keep your bitcoin save.
When you need to convert it into fiat currency, there will be many options. If you have millions of dollars worth of bitcoins, you can convert few through P2P and banks and move to a country like Dubai and cash out all without any issue of complication of legalization / taxation.