How to Cash Out Your Crypto?

Unless you don't want to HODL your coins and tokens forever then you need to cash out and sell some of your cryptos to realize a profit. Remember that you only made a profit or a loss the moment you sell your coins. Everything else is just happening "on paper".

When you are going to cash out your crypto, you have different possibilities.

You can withdraw directly to your bank account, you can spend it directly, you can get a gift card, or you can use a crypto debit card to cash out your crypto.

 
Withdrawing to a Bank Account

Sometimes, you still need to have some fiat in your bank account to pay your bills like electricity or your rent. Then you can sell your crypto on an exchange and withdraw the fiat value directly to your bank account. Of course, you have to keep an eye on the fees. Especially the fees for withdrawing fiat from an exchange can be quite high and they differ widely, not only from exchange to exchange but also from country to country.

Personally, I prefer Binance for fiat withdrawals to my own bank account. I pay for a withdrawal to my bank account via SEPA a fee of one Euro and for a withdrawal via debit card a fee of 1% of the total withdrawal amount. However, this fee varies from country to country, so you really need to do your own research to figure out the exchange with the lowest fees for fiat withdrawals.

 
Spending

If you just want to spend money on goods and services then you can also spend your crypto directly. Unfortunately, not many vendors are currently accepting crypto as a form of payment.

One possibility is the Binance Marketplace. On the Binance Marketplace, you can buy goods and services directly with your crypto, instantly and feeless from your own Binance account.

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