Post
Topic
Board Trading Discussion
Re: What is your preferred method of converting bitcoin (or other crypto) to fiat?
by
Davidvictorson
on 25/05/2024, 04:51:52 UTC
What method do you find most convenient and cost-effective for converting your crypto holdings to fiat currency? CEXs, P2P, Debit Cards... ? Also curious if any new or up-and-coming techniques are on your radar.
I use the P2P methods on Centralized exchanges. It is not my most preferred but it is what the government of my country has made it to be because of their regulation on crypto transactions. Very soon, we would need to invent another method to convert our bitcoin to fiat when they ban the remaining centralized exchanges from doing business in my country. However, for the time being P2P on CEXs is preferred because it is done on a system with strict compliance policies from both sellers and buyers. Although there are many scams there, it is not as rampant as it would have been if it were done outside of centralized exchange.