How To Turn Your Bitcoins Into Real Money

Surely, you already have a balance of accumulated bitcoins and you are eager to learn how to turn your bitcoins into cash, to go about this, you can read the Review of Jacob Williams.

In this article, you will be taught one of the methods to exchange your bitcoins for money practically and instantaneously. This is a simple and safe way to trade bitcoin.

How To Exchange Bitcoins For Money

To perform the exchange, you will need to have the following.

•    balance of bitcoins of at least 5 dollars (or equivalent in other currencies).

•    an account in the neteller virtual bank. It can be opened with the currency of your choice.

•    15 minutes to spare.

Having the requirements listed, you can successfully follow the 5 steps below:

1. Access Your Bitcoin Wallet And Check How Much You Want To Transfer.

The first step in exchanging your bitcoins for real money is to access your wallet and check your balance which is usually updated every business day due to the variation in bitcoin’s quotation.

Remember that to carry out the transfer, it is necessary to have a minimum balance of 5 us dollars. Transfers with smaller values are not accepted by neteller. After checking the balance, keep the window open as it will still be used in the next steps.

2. Access Your Neteller Account

After deciding how much you want to transfer, log in to your neteller account and go to the deposits tab. Among the various options available, there is the option to deposit money using bitcoins. Click this option.

3. Enter The Amount To Be Transferred

Click on the bitcoin option, and the next window to open will ask you to enter the amount that should be transferred from your bitcoin wallet to your neteller account. It is important to note that the maximum amount that can be transferred per day is 400 usd.

A 1% service fee is always charged on any amount you are depositing. This is a very small amount when compared to any other existing means of converting bitcoins into physical currencies.

4. Transfer To Neteller’s Bitcoin Wallet

This is the most important step, so pay close attention. After confirming the value to be transferred, your browser will automatically open another page.

This page shows the transaction’s total in dollars and bitcoins, a countdown bar with the time of 15 minutes (the time available to carry out the transfer), the address of the neteller bitcoin wallet to which your deposit will be sent (the small numbers and letters below “pay with bitcoin”) and a transaction reference number.

Copy the neteller wallet address and return to your wallet page on the blockchain website. Click the “send money” tab, and fill in the amount in bitcoins and the number of the neteller portfolio as a destination. Make sure all the figures you input are correct (you have 15 minutes to do so, so there is no need to hurry). Now click “submit payment”.

Immediately you submit the payment, your neteller will beep, reporting that the deposit was successful. Return to your neteller account and accessing the “history” tab, you will verify that the transaction was performed and probably should have the status “pending”. Do not worry, it takes about 5 minutes for the deposit to be confirmed and cleared for use. Wait a bit and update the history of your neteller account. After doing this, your deposit should appear with the status “accepted” and your balance will be updated.

5. Using The Money; The Best Part

Now that you have just converted your bitcoins into dollars, euros, pounds or any other currency option you selected, you can now choose how you will spend your balance.

Remember that neteller provides interesting options such as:

    create a virtual mastercard banner, no annuity, to make purchases over the internet (the first card is free).

    create a mastercard with the same benefits as the virtual card and with the advantage of being able to use it in any commercial establishment (it is also free, but freight is charged for sending the card).

    withdraw money in the atms (it is necessary to have the physical card to be able to affect the withdrawals).

    sell your balance to others interested in acquiring foreign currency (remember to be careful when dealing with strangers).

Decide on the most convenient option and enjoy!

With neteller, turning bitcoins to real cash just got easier and hassle-free. I bet you can’t wait to withdraw some cash. Turn your bitcoins to physical currency and get the value of real cash.

Adam Hansen

Adam is a part time journalist, entrepreneur, investor and father.