How to Cash Cryptoсurrency: Four Proven Methods

The Coin Shark compiled the most effective ways to withdraw earned cryptocurrency.

#1: Getting via exchange

With this method, it’s easiest to cash such known currencies as Bitcoin or Ethereum, because almost everyone works with them. But there are also sites that work with a lesser known currency.

Initially, you need to find an exchange that supports the required currency pair (ETC / USD, etc.). The easiest way to do this is to find the right pair in the top exchanges. This option requires more time, but it’s more reliable. On little-known exchanges, there is a risk of coming across scammers.

Algorithm of actions

  1. After registering on the selected exchange, you need to replenish your wallet or account by crediting it with the appropriate cryptocurrency from the crypto-wallet.
  2. After that, the owner of the cryptocurrency has to put it on the exchange at the rate he considers profitable. If the average price for the demanded currency is set, the buyer is found and the transaction is accomplished. Instead of the crypto currency, dollars (or another currency) appear on the account.
  3. You can direct them, for example, to a Visa or MasterCard. Some exchanges support WebMoney and other payment systems. Options are usually available in the “Funds withdrawal” section, where you can choose the most convenient one.

# 2: Cashing Cryptocurrency through the exchanger

Exchange services – the first thing that search engines offer to those who want to withdraw cryptocurrency. In terms of functioning, they are very diverse. They differ in everything, namely : courses, commission, speed of work, banks and payment systems, where you can withdraw funds. Based on the above listed criteria, you can choose the right one.

There are so many exchangers that it is impossible to manually study the currency rate on each one. Therefore, there are special monitoring sites for currency rate in different currency exchangers.

Do not rush to exchange the currency in the exchanger with the best rate. It is necessary to look at the commission, which is charged for withdrawal of funds. It often happens that on exchangers with good rate the commission is so high that it is much more rational to use services of a site with worse rate, but smaller commission. For example, some charge 10% of the withdrawal amount, and some – 3%.

When withdrawing funds to an international bank card, it makes sense to check sites in other languages: there you can find a more favorable rate and conditions. The good point of exchangers is that if necessary to withdraw funds to a card with less common currency (Ukrainian hryvnia, Uzbek soums, etc.), you can almost always find a suitable service. On the other hand, the withdrawal of money to such card without conversion from international currency significantly limits the list of suitable services, which means that, most likely, you will have to pay at best the average commission, and at worst – very high. The speed of work and the quality of support can be also lower compared to the sites exchanging cryptocurrency for dollars or euros.

Algorithm of actions

Technically, the withdrawal of funds through the exchanger is simple:

  1.  It is required to enter the purse number and card number or account for crediting money.
  2. The speed of withdrawal of funds may take from a few minutes to 24 hours, although sometimes it can be 2-3 days.

# 3: Cashing crypto currency with WebMoney

WebMoney works with Bitcoin, and this currency can be directly transferred to the electronic purse WM. It will be necessary to have at least a formal certificate (in the account there must be passport proved by the scans, etc., personal data). If you have it, you can create a wallet for bitcoins – WMX.

Algorithm of actions

Further actions are all standard:

  1.  The address for transferring bitcoins is put down, crediting takes place
  2. Then they can be converted into another currency or withdrawn to a bank card.

For both actions, a commission is charged – less than on exchange sites, but more than on many exchanges. It may vary depending on the speed of the operation. So, operations with bitcoins via WebMoney, lasting more than a day, are cheaper than “urgent” operations. For the latter you will have to pay 0,8% of the amount.

# 4: Withdrawal crypto currency with the help of individuals

The most risky way of cashing cryptocurrency.

On the websites and forums dedicated to crypto-currencies, currency traders can be often found. If they want to cash crypto-coins, they offer fiat money at a favorable rate and vice versa.

There are usually no guarantees: with equal probability, traders can turn out to be honest people and scammers. But, if you deal with an honest buyer, you can sell the crypto currency at a favorable rate.

Algorithm of actions

With this method, you can negotiate the transfer of money through a convenient bank or payment system, i.e., the final payment for cashing of funds will be minimal.

Subscribe on The Coin Shark news in Telegramhttps://t.me/thecoinshark

Elon Musk: Bitcoin Is Good, But Not For Tesla

Elon Musk has recently made a statement showing his attitude towards cryptocurrency and financial world as a whole. He supports Bitcoin, yet, it will not bring good for Tesla.

Elon Musk is a well-known technology entrepreneur and engineer with a fortune of $22.8 billion, he projects, like SpaceX, Tesla, PayPal, cover different areas of live, meanwhile they are competing to other companies at a high level. Musk is also a socially active person, he likes to post tweets sharing his thoughts about what is happening in the world. Though, sometimes it may bring consequences, like it was in July last year, when the SEC sent a request to Tesla regarding tweets of Elon Musk.

Furthermore, he freely expresses his attitude towards cryptocurrency. Once he even claimed how many Bitcoins he actually possessed. The Twitter community blowed up every time when Musk speaks about cryptocurrency. For instance, in October 2018, Elon posted a tweet about his love for anime and offered a subscriber to buy Bitcoins.

Twitter even blocked his account for a certain period of time to make sure he was the author. So, this time the world has gone mad, when Musk expressed his feelings about financial system and Bitcoin, in particular,  in the podcast “On the Road to Full Autonomy With Elon Musk.”

“Paper money is going away. Crypto is a far better way to transfer value than pieces of paper, that’s for sure,” he said. “Bitcoin’s structure is brilliant but I don’t think it would be a good use of Tesla’s resources to get involved in crypto.”

Furthermore, Musk added that Bitcoin has its pros and cons, yet, what he is really concerned about is crypto mining, to create one Bitcoin, people use high-powered computers to solve a complex math problem.

“We’re really just trying to accelerate the advance of sustainable energy, and I think one of the down sides of crypto is that computationally it’s quite energy intensive. There had to be some kind of constraints on the creation of crypto. But it’s very energy intensive to create slightly incremental Bitcoin, at this point.”

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Cryptocurrency Prices Today, February 20: Bitcoin Is Growing Steadily

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency Rate

According to the Coin360 online platform, Bitcoin (BTC) added 1.1% over the past 24 hours. The price at the time of writing is $3958 per coin.

Cryptocurrencies are in a stable green zone:

Bitcoin Cash added 0.46% over the past 24 hours and costs $145 per coin;

Ripple increased by 0.53% and its cost is $0.33;

EOS raised by 12% and its price is $3.95;

Litecoin grew by 6.5% and its price is $50;

Cardano plus 1.8% and its cost is $0.046;

Stellar increased by 4.7% and costs $0.091;

IOTA added 1.7% and its value is $0.30;

Dash grew by 0.3% and its price is $87;

Monero became more expensive by 1.1% and costs $52.

Over the past 24 hours, Ethereum has lost 0.17%. The coin rate is $146 per coin.

The total market capitalization is $135 billion. Bitcoin’s share is 51.7% of the total. In monetary terms, this is $69 billion.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

CryptoMining.Farm Scam: 30 Victims Lost $1.34 Million

Thirty people have filed complaints to Thailand’s Technology Crime Suppression Division stating that they were victims of crypto mining scam, they allegedly lost 42 million baht ($1.34 million). The police thinks that the amount of victims can be bigger.

According to the victims’ words, the leaders of the scam convinced them to invest money into CryptoMining.Farm, a blockchain-mining website. One anonymous victim said to the Bangkok Post that one of the leaders promised investor an impossibly high return – 70% a year.

The victims signed contracts when they entered the website, the documents said that a customer may withdraw money at any time he/she wanted without any additional condition. However, the situation has changed since August. The victim stated that:

“From August the owner began imposing conditions for withdrawing the money. Then at the start of this month, the site announced it would start paying back investors in 84 installments which would take over seven years to complete. The payments were supposed to be made in foreign currencies [which] is not permitted by Thai laws.”

After a preliminary investigation, the police is sure that not 30, but 140 people became victims of the scam. Moreover, it can be related to a big scandal which happened in August 2018, when a popular Thai actor and his siblings stole about 797 million baht ($25.5 million).

According to the Bangkok Post, the company has two official offices in Bangkok and Chiang Mai, which may make the victims think that the company’s operations are legal.

Thailand treats digital money with caution and tries to regulate it. The Thai Ministry of Finance even issued a document last year where all the country’s cryptocurrency activities were regulated, including the taxation of participants of crypto market.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Cryptocurrency Prices Today, February 19: EOS Has Increased By More Than 20%, BTC Approaches At $4000

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency Rate

According to the Coingecko online platform, Bitcoin (BTC) added 4.1% over the past 24 hours. The price at the time of writing is $3896 per coin.

Cryptocurrencies are growing rapidly:

Bitcoin Cash added 11% over the past 24 hours and costs $145 per coin;

Ripple increased by 8% and costs $0.33;

EOS raised by 21% and its price is $3.57;

Litecoin grew by 6% and its value is $47;

Cardano plus  7% and costs $0.046;

Stellar fell by  9% and its price is $0.087;

IOTA added 7% and its cost is $0.30;

Dash raised by  8% and its price is $87;

Monero became more expensive by 5% and costs $51.

Over the past 24 hours, Ethereum has added 5.6%. The coin rate is $146 per coin.

The total market capitalization is $132 billion. Bitcoin’s share is 51.8% of the total. In monetary terms, it is $68 billion.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

The List of Bitcoin Mainstream Trends Which Will Dominate in 2019

Bitcoin is one of the most famous cryptocurrencies in the world. It is actually the first one, thus, no matter what might be, it has already gone down in history. Even though the cryptocurrency may not be that popular right now, due to various reason, some changes are already inevitable, hence, let us just check on trends which will become a part of everyday life in 2019.

1. Bitcoin ATMs

The number of Bitcoin ATMs is growing rapidly. It is a kiosk which allows a person to buy/sell Bitcoins in cash or by credit card. They actually look like an ordinary terminal, yet, it is connected not to bank account, but to Bitcoin exchange. The number of Bitcoin ATMs in the world accounts for 4292 at the time of writing.

Source: www.statista.com

Such ATMs will definitely encourage people to use cryptocurrency, since now it becomes more understandable for ordinary people. If people get accustomed to use Bitcoin ATMs, then crypto will see a bright future.

2. Central banks and Bitcoin

Some people do not want to get involved in crypto as it lacks regulation, including bank regulation. However, in 2019, one of Bitcoin trends may become partnership between central banks and cryptocurrency.

Several banks have already introduced systems how to work with crypto. Bank of America, for example, has officially patented a system for saving crypto actives for significant corporations. Moreover, this week, one of the biggest American banks, JPMorgan Chase & Co, has announced that it developed its own digital coin – JPM Coin.

Perhaps, such implementations will bring positive effect on the relationships between crypto and financial institutions.

3. Bitcoin in smartphones

Since the beginning of the third millennium, a cell phone has become an integral part of our everyday life. By using a smartphone we can do almost everything that is connected to our work, study, leisure, or hobby. Financial transactions, including crypto operations, are no exception.

On May, 2018, Huawei Technologies Corporation provided users of its smartphones with the opportunity to use Bitcoin wallet BTC.com. At the end of the past year, HTC company released the smartphone Exodus, powered by blockchain. A person can only purchase the phone with digital currencies.

It is too early to say whether these phones will be successful and useful or not, yet still it is very important that world is trying to meet the needs of everyone.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Cryptocurrency Prices Today, February 15: Cryptocurrencies “Stand Still”

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) remained stable over the past 24 hours. The price at the time of writing is $3604 per coin.

For the most part, cryptocurrencies did not change in price throughout the day:

Bitcoin Cash lost 0.99% over the past 24 hours and costs $121 per coin;

Ripple dropped by 0.03 and costs $0.30;

EOS added 2.3%, and its price is $2.85;

Litecoin grew by 0.18%, and its value is $42;

Cardano gained 0.27%, and its cost is $0.040;

Stellar added 2.66% and costs $0.078;

IOTA grew by 0.87%, and its cost is $0.27;

Dash lost 0.6, and its price is $79;

Monero fell by 0.06% and costs $47.

Over the past 24 hours, Ethereum remained stable. The exchange rate of the coin is $122.

The total market capitalization is $120 billion. Bitcoin accounts for 52.7% of the total volume. In monetary terms, it is $63 billion.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/