Cashing Bitcoin

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Terms and Language

  • A crypto withdrawal - when you transfer your cryptocurrency balance to an external wallet, such as a Metamask, Ledger or to a cryptocurrency exchange. This is known as an 'on-chain' transaction, where the transfer occurs on the blockchain.
  • Non-custodial (or self-custodial) vs custodial - non-custodial means you have private keys, custodial means they have your private keys
  • Makers and takers - Makers are market makers who provide two-sided markets, and takers as those trading the prices set by market makers.
  • crypto exchange - allows you to buy and sell in crypto and fiat [1]
  • Bank transfer - fiat transfered from exchange to bank
  • Fiat wallet - tranfer to bank account is free for crypto.com [2]
  • Selling crypto to a bank account - Moonpay has 1% fee [3]
  • Selling fiat to bank account - same as fiat withdrawal. Crypto.com has free withdrawal from fiat wallet [4]. But you can only feed fiat from fiat, [5].
  • Buy/sell vs trading - buying and selling cryptocurrency generally refers to acquiring or disposing of digital assets for investment or transactional purposes, while trading cryptocurrency involves actively participating in the market to profit from short-term price movements. Both activities involve the exchange of cryptocurrencies, but trading is more focused on capitalizing on market volatility for profit generation.

Fees:

  • Low cost exchanges - For example, BitMEX is free to withdraw? [6]
  • Network fee - always exists? Paid to network operators. [7]
  • Processing fee - buying, selling, trading fee.
  • Gateway fee - fee to operators for interaction with banks, cc companies, payment providers

Companies

  • Best crypto to fiat exchanges [8]
  • Top 10 low Fee Exchanges - [9]
    • Bitstamp - withdraw to fiat is 0-0.25% [10]
  • Zero-fee crypto exchanges - but not too many have fiat - [11]
  • Bitcoin can be cashed at $10k for every 7 days by using CashApp [12]
  • You can use Zengo [13]
  • You can use an exchange, and link your bank account there.
  • which bitcoin exchange has the lowest withdrawal fee to bank account?
  • Top 10 crypto exchanges - [14]. Bank transfer fee is 1% on Moonpay [15]