Cash out question

[RonK9977]

Hello:
I am a noob to crypto currencies and am thinking about buying some and want to buy a bit and just let it sit for a long time to see if the value goes up..

The problem I have and reason I haven't dived in yet is that I can see how I can buy some say XRP...

BUT how do I cash out?

When I want to get out and return the cash to my bank account how do I do that?
Seems difficult to cash out?

Sorry just a noob looking into this
Thanks for any help
Ron

 

[The CC Forums]

Hello:
I am a noob to crypto currencies and am thinking about buying some and want to buy a bit and just let it sit for a long time to see if the value goes up..

The problem I have and reason I haven't dived in yet is that I can see how I can buy some say XRP...

BUT how do I cash out?

When I want to get out and return the cash to my bank account how do I do that?
Seems difficult to cash out?

Sorry just a noob looking into this
Thanks for any help
Ron

Thanks for registering. The easiest way into and out of the crypto market is to use licensed exchanges. Many trade crypto to USD pairs and allow linking to a bank account for funding. Binance, Coinbase and Pro, Bittrex and others. If you wish to buy and sell lesser know coins, you will likely have to go through ETH or BTC to trade them, them back into those to sell for fiat currencies before moving back to a bank account.

Somewhat dated overview of a couple of exchanges here.

Lengthier overviewed of Coinbase Pro.

Coinbase app and the basic Coinbase site are easier to use, but fees are much higher and trades execute at the least favorable current market quote plus 0.25-1.0%.

Good luck.

 

[coincornermolly]

Hello:
I am a noob to crypto currencies and am thinking about buying some and want to buy a bit and just let it sit for a long time to see if the value goes up..

The problem I have and reason I haven't dived in yet is that I can see how I can buy some say XRP...

BUT how do I cash out?

When I want to get out and return the cash to my bank account how do I do that?
Seems difficult to cash out?

Sorry just a noob looking into this
Thanks for any help
Ron

Hi Ron

I can't speak on behalf of other exchanges as it will depend on their banking partner(s), but speaking on behalf of CoinCorner, we're based in the UK and our customers can either withdraw their funds via GBP to their card (Mastercard only at the moment) or via EUR to their bank account.

Hope this helps