Bitcoin to Cash: Simple Steps to Get Real Money
If you own Bitcoin and need cash, you don’t have to guess how to move it. In this guide you’ll see the quickest ways to sell Bitcoin, what costs to watch for, and how to keep the process safe.
Pick the Right Platform
First, choose a platform that lets you sell Bitcoin for pounds. The biggest options are:
- Cryptocurrency exchanges – sites like Coinbase, Binance, or Kraken let you trade Bitcoin for GBP and then withdraw to a UK bank.
- Broker services – eToro or Coinfloor act like a middle‑man. You sell Bitcoin, they handle the paperwork and push the cash to your account.
- Peer‑to‑peer apps – LocalBitcoins or Paxful match you with a buyer. You keep control of the wallet, but you need to trust the buyer’s payment method.
Exchanges usually have the lowest fees, but they require identity verification. Brokers are easier for beginners, while P2P can be cheaper if you find a reliable buyer.
How to Move the Money
Once you’ve sold the Bitcoin, the platform will give you a few withdrawal choices:
- Bank transfer (Faster Payments) – Most UK banks accept this and you’ll see the cash in a day or two.
- PayPal or Payoneer – Some services let you send GBP to your e‑wallet, which you can then move to a bank.
- Prepaid debit card – Certain crypto cards let you load the card directly with the sale proceeds.
Pick the method that matches how quickly you need the money and how low you want the fees. Faster Payments are usually free, while card loads can cost a few percent.
Watch out for hidden costs. Exchanges may charge a 0.1‑0.5% trading fee plus a small withdrawal fee. Brokers sometimes add a spread on the price, which can add up. Always check the total amount you’ll receive before confirming.
Security matters, too. Enable two‑factor authentication on the platform, and double‑check the bank details you enter. If you’re using a P2P service, ask for a screenshot of the buyer’s payment proof before releasing the Bitcoin.
That’s it – pick a platform, sell your Bitcoin, choose a withdrawal option, and keep an eye on fees and security. In a few steps you can have cash in your UK bank without any hassle.
