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Cryptocurrency is well on its way to legitimacy with an ever-increasing number of users and applications. For all of its advantages, though, crypto isn’t always the most convenient asset. Many stores don’t accept crypto payments, so users must withdraw it as a fiat currency to complete transactions.
In the past, withdrawing crypto required users to sell their tokens to an exchange. These transactions may take days to clear, so they’re not an option for immediate needs. Thankfully, there are now plenty of ways to withdraw crypto at a moment’s notice.
Here are five of the best ways to withdraw crypto instantly.
1. Coinbase
Coinbase, one of the most popular cryptocurrency exchanges,recently announced a new featurefor instant withdrawals. Users in the U.S., U.K. and E.U. with compatible debit or credit cards can transfer funds directly to their card. The transfer happens within 30 minutes if users have already linked their card to their Coinbase account.
This feature only works with MasterCard Send or Visa FastFunds-enabled cards, and there are fees. Coinbase can also transfer funds to a connected PayPal account free of charge too. Many establishments accept PayPal payments, so that could be a viable option.
2. Crypterium
Another exchange, Crypterium, offers a similar service. Crypterium’s Cash Out feature works with any MasterCard, but it does require a minimum withdrawal of €20. Instead of connecting a card to their account, users type in their card number manually when they want to withdraw.
Crypterium users can also order a Bitcoin Visa card so they can spend Bitcoin anywhere that accepts Visa. Since the U.S. doesn’t accept crypto as legal tender yet, Crypterium’s service automatically converts BTC to fiat currency. It does come with a transaction fee, but it’s one of the most convenient options.
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3. Metal Pay
Metal Pay is a mobile payment service like Cash App orVenmo, but for cryptocurrency. As part of making an account, users will enter their bank information. They can then buy, sell and convert crypto immediately within the app.
Metal Pay is insured by the FDIC, so users can trust it with their financial information. Withdrawals to debit cards are typically immediate but may take a business day, making Metal Pay slower than some other options. Like other services, withdrawing crypto with this app incurs some small fees.
4. Localcryptos
Localcryptos is a crypto exchange where users trade with each other instead of with the centralized service. It’s also different from other exchanges in that users only deposit crypto when making a trade. This service isn’t a way to transfer crypto into cash, but to sell it quickly.
Since there’s little to no intermediary involvement, selling crypto on Localcryptos is far faster than other sites. Users can also receive payments in more than 40 fiat currency options, from in-person cash to PayPal. Not all exchanges will be immediate, but users can sell their crypto for fiat currency without taking much time.
5. Wirex
Wirex is like Metal Pay in that it’s a crypto-based mobile payment service. Users who want to withdraw crypto just have to press “Exchange” and enter the currency and destination of their choice. Users can transfer funds to a bank account, to a virtual debit card or withdraw them from an ATM.
This July, Wires alsoannounced a partnership with MasterCard, so they can issue cards connected to users’ Wirex wallets. Like Crypterium’s Visa card, this MasterCard will enable users to spend crypto like an ordinary debit card.
Cryptocurrency Is More Flexible Than Ever
Options like this make cryptocurrency more accessible and useful than ever before. With these, spending crypto can be as simple as paying with a traditional credit card. As cryptocurrencies become more legitimate, more services will emerge and crypto will be as convenient as cash.
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