Bitcoin Cash is one of the most expensive cryptocurrencies in the entire market. It is built on the Bitcoin blockchain. Moreover, it is a hard fork. At first glance, withdrawing bch to php may seem like a rather difficult task.
The peculiarity is that cryptocurrencies exist only in the form of a code; therefore, to withdraw them, you need to use special services. But there are many of them on the Internet, meaning that choosing at least one will not be difficult at all.
Key Factors in Withdrawal
While one owner of Bitcoin Cash wants to cash out coins as soon as possible, the second one can wait. Accordingly, the first one may turn a blind eye to an increased commission or a low rate somewhere, while the other does not make sense to overpay because he will wait for a better moment or look for a suitable service.
One way or another, it is impossible to name the best way or service for withdrawing cryptocurrency. However, 3 key factors determine the appropriateness of using each method:
- benefit;
- reliability;
- convenience.
Profit means receiving the most significant amount of money for each unit of cryptocurrency. Reliability means high protection of your funds during conversion, direct exchange, and sending to a card, account number, and the like. Convenience implies the speed and simplicity of processing a withdrawal request.
Withdrawal methods
Despite the development of the crypto market and the emergence of new services, there are not so many ways to withdraw Bitcoin Cash or other coin like weth to php. Right now, there are only three:
- through the exchange;
- through an exchange
- by selling their coins.
Each has its pros and cons, each of which will be discussed below. But it is immediately worth saying that none of them combines the abovementioned factors. Therefore, you will have to sacrifice something in any case.
More reliable with the exchange
Exchanges are designed for trading. Therefore they provide a high relatively high level of protection of funds for short-term storage and withdrawal. You can immediately withdraw BCH, but for this, you will need an exchanger (more on them later). In other cases, the cryptocurrency must first be exchanged for fiat within the exchange.
With the exchanger, you will not be calculated
Cryptocurrency exchangers are the first things a search engine will offer you to withdraw your funds. There will be plenty to choose from since more than enough such sites exist.
The first thing you should not do is to use an exchanger with the highest rate. The same commission can compensate it. Sometimes it even turns out that the service is one of the least profitable due to usage fees.
After choosing an exchanger, you will have to spend at most 2 minutes to create a request. In the “Give” column, select BCH, and in the “Receive” column, the currency and service to which you want to send fiat. It can be an electronic payment system, bank card, or even an account.
After that, you should specify the number of coins to exchange (or the desired amount of real money). You also need to enter the wallet address or account number to which you want to send fiat.
Click the “Pay” button, and you will be provided with a Bitcoin Cash wallet address to which you need to send your coins so they can be later exchanged for fiat.
Direct sale
Many choose this method at their peril and risk. However, it has its advantages, which often attract users. To find a buyer, you need to turn to cryptocurrency forums. There are quite a few of them, so there will be plenty to choose from.
