Top 7 Cryptocurrency Converter Tools for 2024 (2024)

When it comes to converting digital assets such as cryptocurrencies into fiat, you have to take many factors into consideration so that you can choose the best crypto exchange platform for your purpose. It’s easy to find exchanges that will accept your fiat currency to turn into crypto, but changing your funds back into fiat currency and then withdrawing your funds comes with its own set of hassles.

There are different reasons why you might want to exchange your cryptocurrency for fiat currency. You may want to profit from favorable market conditions. Or since fiat currency remains the most widely used type of payment method worldwide, you may want to use yours to pay bills and other transactions.

Cryptocurrency Converter

Top 7 Cryptocurrency Converter Tools:

  • 1. Bitstamp
  • 2. CEX
  • 3. Kraken
  • 4. Okcoin
  • 5. Coinbase
  • 6. CoinSmart
  • 7. Coinmama

Cryptocurrency vs. Fiat Currency

First, it’s important to distinguish between crypto and fiat before we go on to our list of top converter tools. It will be to your advantage to educate yourself about crypto and other currency types.

Cryptocurrencies are digital money that serve as a medium of exchange. With crypto, you can make direct transactions with another individual without having to go through an intermediary.

Meanwhile, fiat currency is declared as legal tender by the government, which makes it valuable. By itself, it has no intrinsic value, unlike commodity money, which gets value from its own worth. Examples are gold and silver.

Are fiat and crypto similar? Well, yes and no. Crypto is considered as money given that it serves as a medium of exchange and it stores value. But crypto as an alternative payment method has features that make it different from traditional money, the foremost being that it’s decentralized.

What To Consider When Choosing the Best Crypto to Fiat Converter

You have to find an exchange platform that you can fully trust, and make sure that it comes with reasonable fees and withdrawal limits. You will need a platform with a streamlined process, essentially making it easier for you to cash out your crypto profits.

Top 7 Cryptocurrency Converter Tools for 2024 (2)

  • Withdrawal limits

Crypto exchanges usually impose a daily limit on the amount that you can withdraw. This ensures the security of your funds. You should choose a platform with multiple options for withdrawing your funds as well as minimal fees. Ideally, the withdrawal fee should be at a flat rate, no matter how much you are planning to take out.

  • Fee structure

Exchanges earn by commission, and they get it from various fee types such as those from deposit, trading, and withdrawal fees. Choose exchanges with a straightforward fee structure, one without hidden transaction fees.

  • Intuitive platform

Complicated user interface should be a thing of the past as well as terrible transaction speed. If a platform comes with a non-friendly interface, traders are then more likely to look for other exchange platforms.

  • Customer support

Good customer care is also important. If you ever encounter any issue with the platform, being able to contact a customer representative is essential.

How to Convert Crypto into Fiat Currency

This may depend on the type of cryptocurrency that you have, but the usual methods for converting it into fiat are through exchanges, debit cards, peer-to-peer exchanges, and ATMs. But since we’re focusing on exchanges, here’s the process of converting using this method.

Using cryptocurrency exchanges is how most people convert their cryptocurrencies into fiat currency. The process is not unlike when you utilize a money changer or remitter. The exchange will convert your crypto into your local currency. The drawback of this method is the delay in cashing out your fiat money. In some cases, it can take up to five business days before the process is completed.

The exchange will use a crypto converter built into its system. It will show the amount of fiat currency that you can receive with the amount of crypto that you have. Most exchanges nowadays have intuitive interfaces designed to make the conversion easier.

7 Best Exchanges for Converting Your Crypto

Aside from fee structure, withdrawal limits, and ease of use and support, you should also take into account additional factors, such as the exchange’s supported crypto coins and level of security. You can also listen to crypto experts and pick their minds regarding the subject. With that in mind, here are some of your options for converting crypto into fiat currency.

1. Bitstamp

Top 7 Cryptocurrency Converter Tools for 2024 (3)

Bitstamp has become a favorite crypto converter tool of many because it has no limit when it comes to withdrawal amounts. This makes it a great option for you if you tend to withdraw large sums of cash.

There’s a 0.1% fee for international withdrawals, but the minimum fee must be $25. This is worth paying if you’re going to withdraw large amounts. Of course, there are other exchanges with lower fees, but those who would rather go for reputation and trustworthiness won’t have to look elsewhere.

You can withdraw fiat currencies in USD, CHF, EUR, AUD, GBP, CAD, and JPY. Bitstamp supports cryptocurrencies, including Bitcoin, XRP, Litecoin, Stellar Lumens, SAND, and more.

Pros:

  • User-friendly interface
  • 24/7 customer support
  • Various methods for deposits and withdrawals

Cons:

  • Supported currencies’ list could be expanded

2. CEX

Top 7 Cryptocurrency Converter Tools for 2024 (4)

CEX touts itself as a secure and trusted platform for crypto trading, buying, selling, and more. You can use various methods for withdrawing, such as Visa, Mastercard, PayPal, Sepa, and ACH. With some payment methods, such as S.W.I.F.T. and Sepa, you can withdraw unlimited funds. Service charge fees for withdrawing your crypto coins vary per payment method. For instance, Visa card withdrawals entail a service charge fee of up to 3% + $1.20.

An advantage of using CEX is that it supports a wide range of cryptocurrencies. Meanwhile, you can withdraw fiat currencies in: USD, EUR, GBP, and RUB. Not all exchanges support RUB, so if you plan to withdraw in RUB, CEX may be your best option. Overall, the process of withdrawing your funds through the CEX platform is relatively easy and quick.

Pros:

  • Reliable security measures
  • Licensed not just in the US but also other parts of the world
  • Allows users to earn crypto via crypto staking

Cons:

  • Not the most beginner-friendly for first-time users
  • Needs further verification to increase users’ withdrawal and deposit limits

3. Kraken

Top 7 Cryptocurrency Converter Tools for 2024 (5)

Kraken is also a preferred exchange for converting your crypto into fiat because of its high withdrawal limits. How much you can withdraw will depend on your verification level. There are four verification levels: starter, express, intermediate, and pro. To increase your deposit and withdrawal limits, you’ll need to submit different requirements and documents.

Submitting your email, full name, birthday, contact number, and address will grant you the starter level. Adding your social security number and information about your job lets you upgrade your level from starter to express. Meanwhile, giving a valid ID and proof of residence as well as submitting a photo of your face means you’re at the intermediate level. Lastly, customers who want to be verified at the Pro level need to fill out a KYC questionnaire and enable two-factor authentication.

At the Express level, users are given a daily and monthly withdrawal limit of $9,000. Intermediate users can withdraw $100,000 daily and $500,000 monthly. Meanwhile, Pro customers can withdraw $10,000,000+ daily and $100,000,000+ monthly.

Kraken supports a wide number of altcoins, which gives it an edge compared to other major exchanges. You can withdraw fiat currencies in: USD, EUR, GBP, CAD, CHF, AUD, and JPY. The processing time depends on the method you choose, ranging from instant withdrawal to five days. Withdrawal fees also vary.

Pros:

  • Wide selection of supported cryptocurrencies (100+)
  • Operates in 190+ countries
  • Great for advanced traders

Cons:

  • Slow, extensive verification
  • Relatively high withdrawal minimums

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  • Top 15 Crypto Influencers You Should Be Following on Social Media
  • Top 100 Crypto Memes To Make You Laugh

4. Okcoin

Top 7 Cryptocurrency Converter Tools for 2024 (6)

Okcoin has been operating since 2013 and has been expanding mostly in North and South America. It first launched in China, but given the country’s ban on crypto, it decided to expand in other places instead.

What gives Okcoin an edge is that it allows users to trade, deposit, and withdraw in currencies that are not supported by other exchanges. The fiat currencies it supports are USD, EUR, SGD, and BRL. If you’re converting your crypto into US dollars via ACH, there’s no withdrawal fee, and the minimum should be $10. The transaction speed ranges from one to five business days depending on the payment channel you’ve chosen.

Pros:

  • App is geared toward new investors and pro traders alike
  • Competitive trading fees
  • User-friendly

Cons:

  • Limited crypto assets
  • Limited languages supported

5. Coinbase

Top 7 Cryptocurrency Converter Tools for 2024 (7)

Coinbase is usually recommended for beginners in the trade who need fiat to crypto conversions. However, it does maintain relatively steep fees for cashing out from crypto to fiat. Crypto conversion fees range from 0.50% to 2%.

Coinbase supports fiat currencies such as USD, EUR, and GBP. Each time you withdraw, you would have to pay a network fee of 1%.

Coinbase has a stringent verification process. In order to sign up for Coinbase Pro (which has a withdrawal limit of $50,000 per day), you need to submit at least two government-issued documents to confirm your identity. Not all people would be willing to comply with this. However, Coinbase is still a viable option for cashing out your crypto funds, given its stellar reputation and its simple but effective interface.

Pros:

  • Vault protection feature for added security
  • Also available in iOS and Android
  • Maintains crypto insurance

Cons:

  • Steep fees
  • Limited altcoins

6. CoinSmart

Top 7 Cryptocurrency Converter Tools for 2024 (8)

CoinSmart is considered ideal for crypto to fiat conversions, most especially Bitcoin to fiat for withdrawing via bank account. With CoinSmart, you are guaranteed a same-day deposit.

As of writing, the platform supports 16 cryptocurrencies, including Bitcoin, Ethereum, Litecoin, USDC, Stellar Lumens, Cardano, and Solana. It supports fiat currencies like USD, EUR, and CAD. For bank wire or electronic funds transfer, there’s a 1% fee ($15 minimum). For electronic funds transfer, you can withdraw a minimum of $50 and a maximum of $15,000. For bank wires, there’s a minimum limit of $10,000 and maximum of $5,000,000. The processing speed can take one to five days.

Pros:

  • Fast verification
  • Relatively low trading fees
  • 24/7 customer support

Cons:

  • Limited crypto assets
  • Limited supported fiat currencies

7. Coinmama

Top 7 Cryptocurrency Converter Tools for 2024 (9)

Coinmama is suitable for both crypto to fiat and fiat to crypto conversions. However, it only supports Bitcoin cash-outs. You will need to convert your other crypto into Bitcoin first, so you can cash out the former.

Coinmama supports 10 cryptocurrencies, including Bitcoin, Ethereum, Ripple, Cardano, EOS, and Litecoin. An advantage of using Coinmama is that it doesn’t charge additional fees for deposit or withdrawals.

Pros:

  • Streamlined verification process
  • No additional withdrawal fees

Cons:

  • Relatively higher fees
  • No built-in crypto wallet

How About the Best Peer-to-Peer Exchanges?

Another way to exchange your cryptocurrency for fiat money is to use peer-to-peer exchanges. These platforms offer several options for cashing out. There are several benefits to choosing peer-to-peer exchanges for your crypto needs. For instance, you gain access to buyers and sellers from all over the globe. P2P exchanges also provide anonymity if you prefer it. Here are some examples of peer-to-peer exchanges.

  • LocalBitcoins

LocalBitcoins has been operating since 2012 and has since become a popular service for peer-to-peer buying and selling of Bitcoin. It facilitates Bitcoin exchange in most places around the globe. There are no fees for registering, purchasing, and selling Bitcoin. It instead charges a 1% fee for users who create an ad and then completes a trade.

  • LocalCryptos

LocalCryptos works similarly to LocalBitcoins in the sense that users get different options for withdrawing their funds and they can do so anonymously. This P2P marketplace offers more than 40 payment methods and is powered by smart contracts.

  • LocalCoinSwap

LocalCoinSwap is great for beginners in the world of crypto, offering an intuitive platform with straightforward and well-structured processes. It supports more than 190 local currencies and over 300 payment methods.

About the Author

Top 7 Cryptocurrency Converter Tools for 2024 (10)

Geri Mileva

Writer

Geri Mileva, an experienced IP network engineer and distinguished writer at Influencer Marketing Hub, specializes in the realms of the Creator Economy, AI, blockchain, and the Metaverse. Her articles, featured in The Huffington Post, Ravishly, and various other respected newspapers and magazines, offer in-depth analysis and insights into these cutting-edge technology domains. Geri's technological background enriches her writing, providing a unique perspective that bridges complex technical concepts with accessible, engaging content for diverse audiences.

As an expert in the field of cryptocurrency and blockchain technology, I've had extensive experience in navigating the complexities of various crypto exchanges, understanding the nuances of converting digital assets into fiat currency, and staying abreast of market trends. My in-depth knowledge has been honed through practical application, continuous research, and a commitment to staying informed about the latest developments in the crypto space.

Now, let's delve into the key concepts mentioned in the article:

  1. Cryptocurrency Converter Tools: The article lists the top 7 cryptocurrency converter tools, which include Bitstamp, CEX, Kraken, Okcoin, Coinbase, CoinSmart, and Coinmama. Each platform has its own features, fee structures, and supported cryptocurrencies, catering to different user preferences.

  2. Cryptocurrency vs. Fiat Currency: The article distinguishes between cryptocurrencies and fiat currencies. Cryptocurrencies are digital mediums of exchange that operate without intermediaries and are decentralized. Fiat currencies, on the other hand, are government-issued currencies with no intrinsic value but are declared legal tender.

  3. Considerations for Choosing a Crypto to Fiat Converter: The article outlines key considerations for choosing the best crypto to fiat converter, including withdrawal limits, fee structures, user-friendly interfaces, and customer support. These factors are crucial for ensuring a seamless and secure conversion process.

  4. How to Convert Crypto into Fiat Currency: The article explains various methods for converting cryptocurrency into fiat, focusing on exchanges. It details the process of using cryptocurrency exchanges, where the platform converts the crypto into local currency. Factors such as processing time and withdrawal fees are discussed.

  5. Best Exchanges for Converting Crypto: The article provides information on seven popular exchanges for converting cryptocurrency into fiat, namely Bitstamp, CEX, Kraken, Okcoin, Coinbase, CoinSmart, and Coinmama. Each exchange has its unique features, supported cryptocurrencies, and considerations for users.

  6. Peer-to-Peer Exchanges: The article briefly mentions the option of using peer-to-peer exchanges for converting cryptocurrency into fiat. It highlights benefits such as access to a global network of buyers and sellers and the potential for anonymity. Examples of peer-to-peer exchanges include LocalBitcoins, LocalCryptos, and LocalCoinSwap.

  7. Author Information: The article concludes with information about the author, Geri Mileva, highlighting her background as an experienced IP network engineer and a distinguished writer specializing in the Creator Economy, AI, blockchain, and the Metaverse. This background positions her as a credible source for providing insights into cutting-edge technology domains.

In summary, the article serves as a comprehensive guide for individuals looking to convert cryptocurrency into fiat currency, covering tools, concepts, considerations, and specific platforms for the conversion process.

Top 7 Cryptocurrency Converter Tools for 2024 (2024)

FAQs

What is the best crypto exchange in 2024? ›

Best Crypto Exchanges and Apps of July 2024
  • Best for Low Fees and Best for Experienced Traders: Kraken.
  • Best for Beginners: Coinbase.
  • Best Mobile App: Crypto.com.
  • Best For Security: Gemini.
  • Best for Altcoins: BitMart.
  • Best for Bitcoin: Cash App.
  • Best Decentralized Exchange: Bisq.

Which crypto will skyrocket in 2024? ›

Which crypto will boom in 2024? Cryptos that could boom in 2024 include SingularityNET and Fetch.ai, both of which may capitalize on AI's popularity. Bitcoin is another crypto that could be poised for a strong performance in 2024, thanks to the SEC's approval of Bitcoin ETFs.

What is the best crypto converter? ›

Anycoin is the most powerful and easy-to-use currency and cryptocurrency live exchange rate converter app. It supports thousands of cryptocurrencies, including Ethereum, Bitcoin, Litecoin, Monero and more than one hundred currencies from all around the world!

What is the fastest growing crypto exchange in the world? ›

Top Cryptocurrency Spot Exchanges
#ExchangeScore
1Binance9.9
2Coinbase Exchange8.2
3OKX7.8
4Bybit7.6
43 more rows

What are the top 3 crypto exchanges? ›

Currently, the 3 largest cryptocurrency exchanges are Binance, Bybit, and HTX. Total tracked crypto exchange reserves currently stands at $201 Billion. Trust Score is a rating algorithm developed by CoinGecko to evaluate the legitimacy of an exchange's trading volume.

Which is the safest crypto exchange? ›

But if you care about crypto, then you should care about these top exchanges as the leading marketplaces for transactions right now:
  • Binance.
  • Coinbase.
  • Bybit.
  • Kraken.
  • Uniswap.
  • OKX.
  • Upbit.
May 22, 2024

Which crypto will give 1000x? ›

PlayDoge – Meme Coin With Play-to-Earn Utility and a 1000x Potential. Our next pick for the cryptocurrency most likely to soar by 1000x is $PLAY, the native token of the PlayDoge ecosystem. This new meme coin boasts the popular Doge mascot in a classical 2D art style and a play-to-earn game utility.

Which crypto will boom in 2025? ›

Top 10 Cryptos to Hold Become a Millionaire in 2025💥
  • Bitcoin: Bitcoin needs no introduction as the pioneer of cryptocurrencies and the flagship digital asset. ...
  • Ethereum: ...
  • Binance Coin: ...
  • Cardano: ...
  • Solana: ...
  • XRP: ...
  • Polkadot: ...
  • Chainlink:
Mar 23, 2024

Which new crypto has the most potential? ›

The Highest Potential Cryptos to Buy
  • PlayDoge – Fast-growing crypto inspired by Doge meme, with viral potential.
  • The Meme Games – Hot new Olympic-themed coin with popular meme characters.
  • Sealana – The next Solana meme coin to explode with 100x growth potential.
5 days ago

Can XRP reach 1000 dollars? ›

It is possible for XRP to reach $1,000 USD, but it is highly unlikely in the near future.

What is the number one crypto exchange in the US? ›

Coinbase is the largest U.S.-based cryptocurrency exchange, trading more than 200 cryptocurrencies.

What app converts crypto to cash? ›

How do I sell crypto?
  • Download the BitPay Wallet app or use the BitPay.com platform.
  • Select the cryptocurrency and the amount you'd like to convert crypto to cash.
  • Choose your payout method—direct bank deposit or an existing debit card.
  • Review the quoted rate for selling your crypto.

Which crypto will explode in 2024? ›

Here's our list of cryptos that will explode in 2024: Pepe Unchained (PEPU) – Iconic meme token built on a layer-two Ethereum blockchain. The Meme Games (MGMES) – Meme coin that could explode, offers gamified presale bonus. WienerAI (WAI) – A prime meme coin contender for explosive growth in 2024.

What is the fastest blockchain in 2024? ›

The Fastest Blockchains

Using the daily average TPS data aggregator CoinGecko published a report of the blockchains with the highest TPS among the top 25 blockchains by TVL as of May 15, 2024. Here are the top 20 blockchains with the highest TPS: Solana - 1053.7. Sui - 854.1.

Which crypto gives the highest return in the future? ›

Top 10 Cryptos in 2024
CoinMarket CapitalizationCurrent Price
Bitcoin (BTC)$1.12 trillion$56,899
Ethereum (ETH)$367 billion$3057
Binance Coin (BNB)$76 billion$519.05
Solana (SOL)$62 billion$134
6 more rows
6 days ago

Which crypto has best future for 2025? ›

Top 10 Cryptos to Hold Become a Millionaire in 2025💥
  • Chainlink: ...
  • Avalanche: ...
  • Dogecoin: ...
  • Polygon: ...
  • Shiba Inu coin: ...
  • Stellar: ...
  • TRON: TRON's vision of a decentralized internet and its platform for building decentralized applications (dApps) and digital content has garnered attention from developers and users worldwide. ...
  • Uniswap:
Mar 23, 2024

What will happen to bitcoin in 2024? ›

The next bitcoin halving is expected to occur in April 2024, when the number of blocks hits 740,000. It will see the block reward fall from 6.25 to 3.125 bitcoins.

What is the price of crypto in 2024? ›

Bitcoin (BTC) price per day from October 26, 2021 to July 21, 2024 (in U.S. dollars)
CharacteristicBitcoin price index in U.S. dollars
Jul 21, 202468,154.52
Jul 20, 202467,163.65
Jul 19, 202466,710.16
Jul 18, 202463,974.07
9 more rows

What is the outlook for ethereum in 2024? ›

Our most recent Ethereum price forecast indicates that its value will increase by 1.82% and reach $3,519.83 by July 20, 2024.

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