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Chapter 3:  Crypto Exchanges

Taking Profits: Turning Crypto Into Fiat

Interesting Fact:
Did you know that most high-end crypto exchanges allow you to easily withdraw your fiat money back to your bank account?
easy
10 minutes

In this section, we’re going to talk about how to turn your fiat to crypto, and vice versa!

Recently, I wrote a section about buying cryptocurrency, for the very first time. If you haven’t read it, make sure to check it out! In that section, I went through the steps that you would need to take in order to become a proud owner of crypto!

What if you already have your crypto, and are ready to take some profits - in other words, you want to cash out? Is it as simple to do as when you buy crypto, or are there some extra steps involved? You'll find answers to all of those questions (and more) in this section!

So, in this section, we’re going to talk about turning crypto into fiat money, and fiat to crypto. I’ll tell you about the best ways to convert crypto to fiat, in a step-by-step manner!

Let’s get right to it, then!

4 Ways to Turn Fiat to Crypto VS Crypto to Fiat (Easily Explained)

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4 Ways to Turn Fiat to Crypto VS Crypto to Fiat (Easily Explained)

4 Ways to Turn Fiat to Crypto VS Crypto to Fiat (Easily Explained) 4 Ways to Turn Fiat to Crypto VS Crypto to Fiat (Easily Explained)

Turning Crypto Into Fiat: The Exchange Method

So, while there are a few different ways of how you can turn fiat to crypto, and then crypto into fiat money, we’ll start off with the most obvious one - selling your cryptocurrency on a fiat-to-crypto exchange, for USD, EUR, or any other traditional currency, and then transferring it to your bank account.

Now, for the sake of covering every possible major scenario, I’ll talk about two different situations - first, I’ll assume that you’ve read the previous section about buying crypto, and already have cryptocurrency on an exchange platform, and later, I’ll also talk about what to do if you’re crypto is stored in a wallet somewhere.

Assuming that you’re already registered on a cryptocurrency exchange, have passed all of the required KYC & AML checks, and have your account all set up, with crypto assets on it, the “cashing out” part is actually really simple to do… In most cases.

Fiat to crypto: Trade and withdraw.

You see, there’s a pretty good chance that all that you really need to do is sell your crypto on the exchange, for the currency of your choice, and then use the withdrawal feature on the platform! Most high-end exchanges will allow you to pick and choose the withdrawal method, but if you already have, say, the debit card that you used to buy crypto added to the exchange, you can click a few buttons, and wait for the money to reach your bank account.

Is it really that simple? Actually, yes - it is! You will naturally need to decide how much crypto you want to sell VS if you want to keep any on the exchange, but other than that, chances are that your process of turning crypto into fiat money is going to be very quick, simple, and straightforward.

Fiat to crypto: Buy, transfer, withdraw.

Now, there’s another scenario where the exchange that you’re using might allow you to BUY crypto via a bank transfer or credit & debit cards (turn fiat to crypto), but doesn’t support an actual WITHDRAWAL feature, in fiat money. Some years back, this used to be the case somewhat often - there were but a handful of reliable exchanges that would allow you to “cash out”, so to speak.

Nowadays, this is a much rarer occurrence - but it still does happen! So, what should you do in a situation like this?

Well, there are two options - one is a bit simpler, and involves exchange platforms, while the other involves actually meeting other people. We’ll cross that bridge when we get there, though - for now, let’s focus on the first option.

Your first step is to find a cryptocurrency exchange, other than the one you’re currently using, and one that allows its clients to withdraw fiat money into their bank accounts. Once again, doing so shouldn’t prove to be difficult - most of the top-tier exchanges have this functionality!

Once you find an exchange like this, however, you will then need to register on it, pass the KYC checks, and transfer your crypto from the current exchange to the new one. Here, you will be able to sell it, and after adding a valid payment method, cash out!

Now, I admit - all of that sounds a bit convoluted, when you just machine-gun it out loud like that. But, I assure you - the process is actually much simpler than it looks, in reality! There are two things that you should pay the most attention to - picking an appropriate exchange, and ensuring that your crypto transfer is safe and correct. If these are topics that you’d like more information about, there are dedicated sections covering crypto exchanges and blockchain transactions on this Crypto 101 Handbook - check them out!

Fiat to crypto: Wallet.

Now, another potential scenario might be that you’re holding your cryptocurrencies in a wallet - a separate piece of software or hardware that has nothing to do with an exchange. If that’s the case, all that you need to do is transfer your crypto from the wallet to a designated exchange platform of your choice, and sell it there. It’s similar to transferring your money from a bank account to an exchange, in a fiat VS crypto way!

Note, though, that there’s a potential alternative route, as well - some wallets have built-in tools that would allow you to sell crypto, straight from the wallet! This depends on what wallet it is that you’re using, but if your crypto storage supports a feature like this, it’s definitely worth considering, since you skip out on a lot of steps!

Turning Crypto Into Fiat: The In-Person Meetup Method

Continuing on, up to this point, we’ve discussed the “easy”, or “preferable” methods of turning crypto into cash - all you need is an exchange, and a valid withdrawal method, and you’re set! Well, that’s assuming that you’ve already bought crypto, and know how exchanges work, in the first place - if that’s still something you’re feeling iffy about, make sure to read a dedicated section about it before moving on whit this one!

Now, there’s another approach that you could take, as well - one that involves meeting other people, and selling your crypto in the real world.

Fiat to crypto: The in-person meetup method.

Straight off the bat, let me just say - I do NOT recommend doing this, neither for fiat-to-crypto, nor crypto-to-fiat conversion purposes! With crypto transactions becoming simpler and faster to perform, on exchanges, there really is no major reason why you would go through all of that effort of meeting another individual, and performing the transaction this way.

Well, maybe there is one reason - if you’re really adamant about preserving your anonymity.

Think about it this way - say, you’ve never bought any crypto, and are not registered on any type of exchange platform. Yet, you already own cryptocurrency - maybe a friend sent it to you, or someone paid you for your awesome drawing in crypto tokens? Whatever the case might be, you’re at a point where you want to turn your crypto into fiat money.

However, you are really serious about your privacy, and thus, registering on a cryptocurrency exchange, and providing it with all of your sensitive information just doesn’t sound appealing to you. In a situation like this, your only real other option is to find a potential buyer from your area, meet them, and make the transaction.

If, for any reason, you do decide that an in-person transaction is “the way to go”, there are a few things that you need to be aware of. First and foremost, never go alone - always bring at least one other friend, to keep you company and provide that extra safety.

Secondly, make sure to meet the buyer in a public place, like the mall or a coffee shop. This will make you both feel easier about the meeting, since there will be other people around.

Lastly, if you’re accepting cash for your crypto, you should carry a fake-money checking machine with you. This way, you’ll be able to check the money on the spot, and won’t need to worry about potentially being scammed.

Let me reiterate, though - in-person crypto sales are a very specific, niche scenario that, in the vast majority of cases, isn’t the recommended thing to do. Instead, you’re much better off going the traditional, exchange route.

Don’t Forget the Taxes!

Now that you know how to turn crypto into fiat money, it would be very irresponsible of me to let you go without talking about one last thing. And, it’s actually a topic that everyone in the crypto space are really excited about - taxes!

Fiat to crypto: Don't forget taxes.

Well, maybe it’s not the most exciting topic that one might think of, but it’s definitely a huge and important point that needs to be considered, when you’re dealing with buying and selling crypto.

No matter if you sell cryptocurrencies on an exchange, directly from your wallet, in person, or in any other way imaginable, your sale will be considered a taxable event. Thus, you should take some time out of your day, make a cup of coffee, sit down, and really look into the specifics of crypto taxation in your country.

What I’m getting at is simple - while you might have made an awesome profit from your initial crypto investment, part of that profit will likely need to be paid, as taxes! Of course, when you’re performing an in-person transaction, things become much more complicated - you need to declare the sale yourself, and there’s no exchange to pull the data from, at the end of the tax year.

Just one more reason to stay safe, and only buy and sell crypto on reliable, trusted cryptocurrency exchange platforms!

Now, if you’re really concerned about the crypto taxes, and are looking for every possible legal solution of how to minimize them, I highly recommend checking out this section on how to avoid cryptocurrency taxes - legally, of course! Maybe you’ll be eligible for a tax reduction, or perhaps there’s some other, specific law in your region, that will allow you to save a lot of money on taxes?

That being said, it's about all the basic information you need to know as a crypto beginner. Just remember - the best way to convert crypto to fiat is via a trusted, reliable exchange platform.

Bitcoin, and other cryptocurrencies, too?<\/p>\n<p>Well, once you get yourself some crypto assets, a whole new world of possibilities opens up, potential activity-wise. All that&rsquo;s left to do is for you to weigh all of your options, and pick the best one!<\/p>\n<p>In this section, we&rsquo;re going to talk about how to use cryptocurrencies, and what can you do with your crypto. Specifically, we&rsquo;ll cover <strong>the 5 most notable concepts and activities that you can participate in<\/strong>, with your crypto assets, and discuss their pros and cons, too.<\/p>\n<p><em>Let&rsquo;s get to it!<\/em><\/p>\n<h2>Storing Crypto Away in a Cold Wallet<\/h2>\n<p>So, the very first thing that you can do with your cryptocurrencies is actually the most straightforward of the bunch, as well - <strong>store them away, in a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-cold-wallet/">cold wallet<\/a> device<\/strong>.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to use crypto: Storing crypto away in a cold wallet.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how_to_use_crypto_01.jpg/" alt=\"How to use crypto: Storing crypto away in a cold wallet.\" width=\"1000\" height=\"512\" \/><\/p>\n<p>Cold wallets are special, secure hardware devices that allow you to store your crypto, usually for a longer period of time. Think of these wallets as those little safe deposit boxes that you can rent, at your local bank, and store some valuable items in. It&rsquo;s really the crypto equivalent of that!<\/p>\n<p>The so-called &ldquo;cold storage&rdquo; is actually a very popular concept, within the crypto space. With the market being so volatile, still, and multiple high-tier exchanges and other crypto services going under thanks to one scandal after the other, people are looking at alternative ways of storing and securing their assets - cold wallets are the obvious answer, for most!<\/p>\n<p>Now, admittedly, it&rsquo;s also not something that will fit every single person looking at how to use crypto. <strong>Let&rsquo;s say that you&rsquo;re a day trader<\/strong> - someone who is constantly trading cryptocurrencies, and trying to <em>&ldquo;time the market&rdquo;<\/em>, so to speak. In a situation like this, keeping your cryptocurrencies in cold wallets might not be very convenient!<\/p>\n<p>On the flip side, <strong>if you plan to hold the crypto that you&rsquo;ve bought for a long time<\/strong>, as a long-term investment, and don&rsquo;t really care about how to use Bitcoin to buy things, then cold wallets are certainly your best friend. The best example I can think of is this - imagine that you&rsquo;ve just bought an old, vintage car. It&rsquo;s absolutely gorgeous, and without a single scratch or dent in sight.<\/p>\n<p>If you plan to keep that car for a few years, as an investment, and then sell it when its price appreciates, you&rsquo;d probably store it in a designated garage, and wrap it up with multiple layers of protective materials. On the flip side, if you actually plan to drive the car, then unwrapping it every single time would simply be, well&hellip; Inconvenient!<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to use crypto: Cold storage.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how_to_use_crypto_02.jpg/" alt=\"How to use crypto: Cold storage.\" width=\"1000\" height=\"391\" \/><\/p>\n<p>The golden rule within the industry is pretty simple - <strong>you should store the majority of your assets in cold wallets, while keeping only a small amount on an exchange<\/strong>. This way, you&rsquo;ll be able to buy, sell, and trade cryptocurrencies as you please, while the bulk of your investment stays safe and sound within a hardware wallet.<\/p>\n<h2>Trading Your Crypto<\/h2>\n<p>Of course, all of what I&rsquo;ve just told you only works if you&rsquo;re in it for the long term. That might not be your goal - <strong>instead, you might want to actively trade your assets<\/strong>!<\/p>\n<p>This is the second activity of how to use Bitcoin, or any other crypto - trading. Admittedly, this is really an umbrella term - &ldquo;trading&rdquo; could mean everything from <strong>active day trading<\/strong>, where you flip crypto assets tens or hundreds of times per day, as well as <strong>passive trading<\/strong>, every few weeks, when you see an opportunity to make a potential profit.<\/p>\n<p>It&rsquo;s actually probably the most popular activity that people choose to participate in, with their cryptos! Once you have bought the coins and tokens that you want, a whole new world of opportunities opens up to you.<\/p>\n<p>In order to start trading, however, you&rsquo;ll need to <strong>spend a lot of time figuring out the intricacies of the market<\/strong>, as well as deciding on your tools, too. For example, will you perform all of your trades on centralized exchanges, or will you transfer your funds to a third-party wallet, and use the services of DEXs - decentralized exchange platforms?<\/p>\n<p>What about taxes - that&rsquo;s another headache to sort out, as well! Don&rsquo;t worry, though - if you feel like trading is the path that you want to take, but are confused about where to start, there are dedicated sections covering both <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//dex-vs-cex/">CEXs &amp; DEXs<\/strong><\/a>, as well as <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//how-to-avoid-crypto-taxes/">crypto taxes<\/strong><\/a>, on this Crypto 101 Handbook - check them out, before you start trading!<\/p>\n<h2>Staking<\/h2>\n<p>Moving on, the third activity that you can participate in with your newly-acquired crypto assets is staking.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to use crypto: Staking.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how_to_use_crypto_03.jpg/" alt=\"How to use crypto: Staking.\" width=\"1000\" height=\"540\" \/><\/p>\n<p>Now, staking is a whole separate can of worms, in itself. However, it&rsquo;s also a super-popular method of how to use Bitcoin (and other cryptos) to make money, strictly for the fact that you are able to <strong>earn a passive interest on the cryptocurrency that you hold<\/strong>.<\/p>\n<p>If you&rsquo;re looking to get into staking, there are a couple of things that you need to figure out, beforehand. First, <strong>there are two types of staking<\/strong> - one where you directly interact with a specific <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-staking-pool/">staking pool<\/strong><\/a>, and another, when you stake crypto on an exchange platform.<\/p>\n<p>Naturally, both have their pros and cons, as well. In the first scenario, you can stake your crypto on a pool of your choice, and do so from a designated wallet that you own. This method, however, is a bit complex, and you need to have a pretty decent understanding of staking, in general, in order to do everything properly.<\/p>\n<p>Staking crypto on exchange platforms is becoming more and more popular, as time goes on. While it&rsquo;s super-convenient, and you can find some great interest rates with the asset of your choice, some people avoid this form of staking due to the fact that you have to keep your assets on an exchange. With the multiple controversies that many exchange platforms find themselves in, you can probably see their point.<\/p>\n<p>Then, you should also know that <strong>not all cryptocurrencies can be &ldquo;staked&rdquo;, the traditional way<\/strong>. If you already own some crypto, you can just utilize a single simple google search, and find out if your coin or token is <em>&ldquo;stakeable&rdquo;<\/em>. If you&rsquo;re looking at what you can do with crypto, are interested in staking, but don&rsquo;t have any assets yet, then proper research is warranted - take the time, and look into the coins that will both bring the best staking profits, and provide the least volatility, market-wise!<\/p>\n<h2>Investing Into Different Projects<\/h2>\n<p>The penultimate method of how to use cryptocurrencies involves <strong>investing in different crypto-native projects<\/strong>.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to use crypto: Investing into different projects.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how_to_use_crypto_04.jpg/" alt=\"How to use crypto: Investing into different projects.\" width=\"1000\" height=\"750\" \/><\/p>\n<p>At first glance, this might look a bit confusing - doesn&rsquo;t buying crypto constitute as <em>&ldquo;investing in a project&rdquo;<\/em>? And, yes - oftentimes, if you purchase a crypto asset, you&rsquo;re directly or indirectly investing into the underlying platform that stands behind that project.<\/p>\n<p>That being said, however, <strong>some projects only allow you to invest in them via crypto<\/strong> - meaning, you can&rsquo;t use fiat (or, traditional, government-issued) money to invest, and must instead use some popular cryptocurrency.<\/p>\n<p>This is especially true if you&rsquo;re looking to back newly-launched projects. Visiting the official websites of such platforms, you&rsquo;ll notice that investors can acquire said project tokens by trading them for <a href=https://www.bitdegree.org/"//crypto//buy-ethereum-eth/">ETH, <a href=https://www.bitdegree.org/"//crypto//buy-tether-usdt/">USDT, or any other popular cryptocurrency, often on a decentralized exchange.<\/p>\n<p>It&rsquo;s a tad bit of a complicated process, I admit. However, if you&rsquo;re looking to invest in specific projects, you would likely take the time and study them in-depth - this would, naturally, involve their token acquisition methods, too!<\/p>\n<h2>Using Specific Services<\/h2>\n<p>Last but not least, the fifth way of how to use crypto is, admittedly, rather expansive - <strong>you can use your crypto coins and tokens to pay for certain goods and services<\/strong>!<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to use crypto: Using specific services.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how_to_use_crypto_05.jpg/" alt=\"How to use crypto: Using specific services.\" width=\"1000\" height=\"777\" \/><\/p>\n<p>If you&rsquo;ve ever wondered how to use Bitcoin to buy things, or even about what can you buy with Bitcoin, in general, this is probably the route that you&rsquo;ll want to take. As crypto is becoming increasingly more adopted by the day, more and more traditional services offer payment options with crypto coins and tokens.<\/p>\n<p>Services are just one part of the deal, though - the <em>&ldquo;what can you buy with cryptocurrency?&rdquo;<\/em> list extends to different products, as well! Nowadays, you might find shops that accept crypto payments, and deal in electronics, food items, clothing, and everything in between!<\/p>\n<p>It&rsquo;s worth mentioning that <strong>some people might find this method of how to use crypto a bit counterintuitive<\/strong>, since you would use a theoretically appreciating asset to purchase depreciating products. In other words, why would you buy a used car with your BTC coins, if the car will lose value, while BTC would likely grow and become more valuable, with time?<\/p>\n<p>This argument is mostly popular with people who consider themselves investors, however, and who are looking to gain some monetary benefits from the space. If that&rsquo;s not what you&rsquo;re about, and you&rsquo;re excited to purchase everyday items with cryptocurrency, keep in mind that, with time, the list of options is getting progressively bigger!<\/p>\n<p>This wraps up the list of the main use cases of crypto assets. Don't forget to check other sections on this Crypto 101 Handbook if you want to become a real crypto expert!<\/p>","definition":"Did you know that, nowadays, you can purchase electronics, food items, clothing, and everything in between using crypto?","status":"published","meta_title":"How to Use Crypto? 5 Key Activities","meta_description":"You've bought some Bitcoins and now you're wondering how to use crypto. Read this to find out the five main use cases of crypto assets.","meta_keywords":"how to use crypto, what is cryptocurrency used for, how to use bitcoin, what can i do with bitcoin, how to use bitcoin to buy things, how to use bitcoin to make money, how to spend crypto, what can you buy with bitcoin, what can you buy with cryptocurrency, how to use cryptocurrency","modified_content":"<p>In this section, we&rsquo;re going to talk about <strong>how to use cryptocurrency<\/strong>, once you already own it!<\/p>\n<p>Owning crypto is a very exciting prospect! In the previous sections of this Crypto 101 Handbook, we&rsquo;ve covered buying, selling, trading, swapping, and dealing with cryptocurrencies, in general. However, perhaps you&rsquo;ve caught yourself wondering - what else can I do with <a href=https://www.bitdegree.org/"//crypto//buy-bitcoin-btc/">Bitcoin, and other cryptocurrencies, too?<\/p>\n<p>Well, once you get yourself some crypto assets, a whole new world of possibilities opens up, potential activity-wise. All that&rsquo;s left to do is for you to weigh all of your options, and pick the best one!<\/p>\n<p>In this section, we&rsquo;re going to talk about how to use cryptocurrencies, and what can you do with your crypto. Specifically, we&rsquo;ll cover <strong>the 5 most notable concepts and activities that you can participate in<\/strong>, with your crypto assets, and discuss their pros and cons, too.<\/p>\n<p><em>Let&rsquo;s get to it!<\/em><\/p>\n<div class=\"container\">\n <div class=\"row justify-content-center\">\n <div class=\"col-md-10 suggested-comparisons pb-3 mb-4\">\n <div class=\"d-flex flex-row\">\n <div class=\"text-center\">\n <div class=\"img-block-yt\">\n <img src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//assets//images//compare-crypto-exchanges.gif/"/n alt=\"How to Use Crypto? 5 Rewarding Strategies Explained (Animated)\"\n title=\"How to Use Crypto? 5 Rewarding Strategies Explained (Animated)\" class=\"border-0\">\n <p>Video Explainer<\/p>\n <\/div>\n <\/div>\n <div class=\"col-xs-10 col-sm-10 col-md-10 text-left py-3 yt-info\">\n <h4 class=\"mb-1\">Video Explainer: You\u2019ve Got Crypto: What Can You Do With It?<\/h4>\n <p class=\"py-1 mb-0 youtube-video-subtitle\">Reading is not your thing? Watch the \"You\u2019ve Got Crypto: What Can You Do With It?\" video explainer<\/p>\n <\/div>\n <\/div>\n <div class=\"row justify-content-center text-center\">\n <div class=\"col-12 col-md-11 px-3\">\n <div class=\"wrapper mb-0\">\n <div class=\"position-relative youtube mb-4 bg-transparent p-0 video-modal-popup\" data-toggle=\"modal\"\n data-target=\"#video-modal\" data-id=\"VbtVQnCbjsg\" data-title=\"CryptoFinallyExplained\">\n <div class=\"video-gradient-top\"><\/div>\n <p class=\"text-left dyk-video-title\">How to Use Crypto? 5 Rewarding Strategies Explained (Animated)<\/p>\n <img data-srcset=\"https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/how-to-use-crypto-5-rewarding-strategies-explained-animated.jpg?tr=w-420 500w,\n https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/how-to-use-crypto-5-rewarding-strategies-explained-animated.jpg?tr=w-760 1000w\"\n alt=\"How to Use Crypto? 5 Rewarding Strategies Explained (Animated)\"\n title=\"How to Use Crypto? 5 Rewarding Strategies Explained (Animated)\"\n class=\"p-0 lazyload\">\n <img class=\"play-button lazyload\" data-target=\"#video-modal\"\n data-src=\"https:\/\/assets.bitdegree.org\/crypto\/assets\/video-button.png?tr=w-85\"\n alt=\"How to Use Crypto? 5 Rewarding Strategies Explained (Animated)\">\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <div class=\"row justify-content-center text-center\">\n <div>\n <a href=https://www.bitdegree.org/"https:////www.youtube.com//c//CryptoFinallyExplained?sub_confirmation=1\%22\n class=\"btn yt-promo mb-2\" target=\"_blank\" rel=\"nofollow noopener noindex\">\n <div class=\"row justify-content-center align-items-center mx-0 text-center\">\n <div class=\"col-4 col-md-4\">\n <i class=\"fab fa-youtube yt-dyk-btn\"><\/i>\n <\/div>\n <div class=\"col-8 col-md-8 text-center yt-promo-text\">\n <h4 class=\"m-0 text-white\">SUBSCRIBE<\/h4>\n <span>ON YOUTUBE<\/span>\n <\/div>\n <\/div>\n <\/a>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n<div class=\"modal fade\" id=\"video-modal\" tabindex=\"-1\" role=\"dialog\">\n <div class=\"modal-dialog modal-dialog-centered modal-lg\" role=\"document\">\n <div class=\"modal-content\">\n <div class=\"modal-body p-0\">\n <button type=\"button\" class=\"video-modal-close close\" data-dismiss=\"modal\" aria-label=\"Close\">\n <i aria-hidden=\"true\" class=\"fas fa-times\"><\/i>\n <\/button>\n <div id=\"iframe\"><\/div>\n <\/div>\n <a class=\"text-decoration-none\"\n href=https://www.bitdegree.org/"https:////www.youtube.com//c//CryptoFinallyExplained?sub_confirmation=1\%22\n rel=\"nofollow noopener noindex\" target=\"_blank\">\n <div class=\"modal-footer p-0 d-block bg-white\">\n <div class=\"row justify-content-center m-0\">\n <div class=\"col-3 col-md-4 col-lg-2 p-0\">\n <img class=\"w-100 h-100\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//assets//crypto-subscribe.jpg/" alt=\"Subscribe\">\n <\/div>\n <div class=\"col-9 col-md-8 col-lg-2 px-0 d-flex\">\n <div class=\"modal-subscribe w-100\">\n <p class=\"m-0 mt-1 mr-3\">SUBSCRIBE<br>\n <span class=\"m-0\">ON YOUTUBE<\/span>\n <\/p>\n <\/div>\n <\/div>\n <div class=\"col-12 col-md-12 col-lg-8 p-0 text-center d-flex justify-content-center align-items-center\">\n <div class=\"modal-subscribe-text\">\n <h4 class=\"m-0\">Understand crypto with ease<\/h4>\n <span>New explainer videos every week!<\/span>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/a>\n <\/div>\n <\/div>\n<\/div>\n<h2>Storing Crypto Away in a Cold Wallet<\/h2>\n<p>So, the very first thing that you can do with your cryptocurrencies is actually the most straightforward of the bunch, as well - <strong>store them away, in a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-cold-wallet/">cold wallet<\/a> device<\/strong>.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to use crypto: Storing crypto away in a cold wallet.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how_to_use_crypto_01.jpg/" alt=\"How to use crypto: Storing crypto away in a cold wallet.\" width=\"1000\" height=\"512\" \/><\/p>\n<p>Cold wallets are special, secure hardware devices that allow you to store your crypto, usually for a longer period of time. Think of these wallets as those little safe deposit boxes that you can rent, at your local bank, and store some valuable items in. It&rsquo;s really the crypto equivalent of that!<\/p>\n<p>The so-called &ldquo;cold storage&rdquo; is actually a very popular concept, within the crypto space. With the market being so volatile, still, and multiple high-tier exchanges and other crypto services going under thanks to one scandal after the other, people are looking at alternative ways of storing and securing their assets - cold wallets are the obvious answer, for most!<\/p>\n<p>Now, admittedly, it&rsquo;s also not something that will fit every single person looking at how to use crypto. <strong>Let&rsquo;s say that you&rsquo;re a day trader<\/strong> - someone who is constantly trading cryptocurrencies, and trying to <em>&ldquo;time the market&rdquo;<\/em>, so to speak. In a situation like this, keeping your cryptocurrencies in cold wallets might not be very convenient!<\/p>\n<p>On the flip side, <strong>if you plan to hold the crypto that you&rsquo;ve bought for a long time<\/strong>, as a long-term investment, and don&rsquo;t really care about how to use Bitcoin to buy things, then cold wallets are certainly your best friend. The best example I can think of is this - imagine that you&rsquo;ve just bought an old, vintage car. It&rsquo;s absolutely gorgeous, and without a single scratch or dent in sight.<\/p>\n<p>If you plan to keep that car for a few years, as an investment, and then sell it when its price appreciates, you&rsquo;d probably store it in a designated garage, and wrap it up with multiple layers of protective materials. On the flip side, if you actually plan to drive the car, then unwrapping it every single time would simply be, well&hellip; Inconvenient!<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to use crypto: Cold storage.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how_to_use_crypto_02.jpg/" alt=\"How to use crypto: Cold storage.\" width=\"1000\" height=\"391\" \/><\/p>\n<p>The golden rule within the industry is pretty simple - <strong>you should store the majority of your assets in cold wallets, while keeping only a small amount on an exchange<\/strong>. This way, you&rsquo;ll be able to buy, sell, and trade cryptocurrencies as you please, while the bulk of your investment stays safe and sound within a hardware wallet.<\/p>\n<h2>Trading Your Crypto<\/h2>\n<p>Of course, all of what I&rsquo;ve just told you only works if you&rsquo;re in it for the long term. That might not be your goal - <strong>instead, you might want to actively trade your assets<\/strong>!<\/p>\n<p>This is the second activity of how to use Bitcoin, or any other crypto - trading. Admittedly, this is really an umbrella term - &ldquo;trading&rdquo; could mean everything from <strong>active day trading<\/strong>, where you flip crypto assets tens or hundreds of times per day, as well as <strong>passive trading<\/strong>, every few weeks, when you see an opportunity to make a potential profit.<\/p>\n<p>It&rsquo;s actually probably the most popular activity that people choose to participate in, with their cryptos! Once you have bought the coins and tokens that you want, a whole new world of opportunities opens up to you.<\/p>\n<p>In order to start trading, however, you&rsquo;ll need to <strong>spend a lot of time figuring out the intricacies of the market<\/strong>, as well as deciding on your tools, too. For example, will you perform all of your trades on centralized exchanges, or will you transfer your funds to a third-party wallet, and use the services of DEXs - decentralized exchange platforms?<\/p>\n<p>What about taxes - that&rsquo;s another headache to sort out, as well! Don&rsquo;t worry, though - if you feel like trading is the path that you want to take, but are confused about where to start, there are dedicated sections covering both <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//dex-vs-cex/">CEXs &amp; DEXs<\/strong><\/a>, as well as <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//how-to-avoid-crypto-taxes/">crypto taxes<\/strong><\/a>, on this Crypto 101 Handbook - check them out, before you start trading!<\/p>\n<h2>Staking<\/h2>\n<p>Moving on, the third activity that you can participate in with your newly-acquired crypto assets is staking.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to use crypto: Staking.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how_to_use_crypto_03.jpg/" alt=\"How to use crypto: Staking.\" width=\"1000\" height=\"540\" \/><\/p>\n<p>Now, staking is a whole separate can of worms, in itself. However, it&rsquo;s also a super-popular method of how to use Bitcoin (and other cryptos) to make money, strictly for the fact that you are able to <strong>earn a passive interest on the cryptocurrency that you hold<\/strong>.<\/p>\n<p>If you&rsquo;re looking to get into staking, there are a couple of things that you need to figure out, beforehand. First, <strong>there are two types of staking<\/strong> - one where you directly interact with a specific <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-staking-pool/">staking pool<\/strong><\/a>, and another, when you stake crypto on an exchange platform.<\/p>\n<p>Naturally, both have their pros and cons, as well. In the first scenario, you can stake your crypto on a pool of your choice, and do so from a designated wallet that you own. This method, however, is a bit complex, and you need to have a pretty decent understanding of staking, in general, in order to do everything properly.<\/p>\n<p>Staking crypto on exchange platforms is becoming more and more popular, as time goes on. While it&rsquo;s super-convenient, and you can find some great interest rates with the asset of your choice, some people avoid this form of staking due to the fact that you have to keep your assets on an exchange. With the multiple controversies that many exchange platforms find themselves in, you can probably see their point.<\/p>\n<p>Then, you should also know that <strong>not all cryptocurrencies can be &ldquo;staked&rdquo;, the traditional way<\/strong>. If you already own some crypto, you can just utilize a single simple google search, and find out if your coin or token is <em>&ldquo;stakeable&rdquo;<\/em>. If you&rsquo;re looking at what you can do with crypto, are interested in staking, but don&rsquo;t have any assets yet, then proper research is warranted - take the time, and look into the coins that will both bring the best staking profits, and provide the least volatility, market-wise!<\/p>\n<h2>Investing Into Different Projects<\/h2>\n<p>The penultimate method of how to use cryptocurrencies involves <strong>investing in different crypto-native projects<\/strong>.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to use crypto: Investing into different projects.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how_to_use_crypto_04.jpg/" alt=\"How to use crypto: Investing into different projects.\" width=\"1000\" height=\"750\" \/><\/p>\n<p>At first glance, this might look a bit confusing - doesn&rsquo;t buying crypto constitute as <em>&ldquo;investing in a project&rdquo;<\/em>? And, yes - oftentimes, if you purchase a crypto asset, you&rsquo;re directly or indirectly investing into the underlying platform that stands behind that project.<\/p>\n<p>That being said, however, <strong>some projects only allow you to invest in them via crypto<\/strong> - meaning, you can&rsquo;t use fiat (or, traditional, government-issued) money to invest, and must instead use some popular cryptocurrency.<\/p>\n<p>This is especially true if you&rsquo;re looking to back newly-launched projects. Visiting the official websites of such platforms, you&rsquo;ll notice that investors can acquire said project tokens by trading them for <a href=https://www.bitdegree.org/"//crypto//buy-ethereum-eth/">ETH, <a href=https://www.bitdegree.org/"//crypto//buy-tether-usdt/">USDT, or any other popular cryptocurrency, often on a decentralized exchange.<\/p>\n<p>It&rsquo;s a tad bit of a complicated process, I admit. However, if you&rsquo;re looking to invest in specific projects, you would likely take the time and study them in-depth - this would, naturally, involve their token acquisition methods, too!<\/p>\n<h2>Using Specific Services<\/h2>\n<p>Last but not least, the fifth way of how to use crypto is, admittedly, rather expansive - <strong>you can use your crypto coins and tokens to pay for certain goods and services<\/strong>!<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to use crypto: Using specific services.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//how_to_use_crypto_05.jpg/" alt=\"How to use crypto: Using specific services.\" width=\"1000\" height=\"777\" \/><\/p>\n<p>If you&rsquo;ve ever wondered how to use Bitcoin to buy things, or even about what can you buy with Bitcoin, in general, this is probably the route that you&rsquo;ll want to take. As crypto is becoming increasingly more adopted by the day, more and more traditional services offer payment options with crypto coins and tokens.<\/p>\n<p>Services are just one part of the deal, though - the <em>&ldquo;what can you buy with cryptocurrency?&rdquo;<\/em> list extends to different products, as well! Nowadays, you might find shops that accept crypto payments, and deal in electronics, food items, clothing, and everything in between!<\/p>\n<p>It&rsquo;s worth mentioning that <strong>some people might find this method of how to use crypto a bit counterintuitive<\/strong>, since you would use a theoretically appreciating asset to purchase depreciating products. In other words, why would you buy a used car with your BTC coins, if the car will lose value, while BTC would likely grow and become more valuable, with time?<\/p>\n<p>This argument is mostly popular with people who consider themselves investors, however, and who are looking to gain some monetary benefits from the space. If that&rsquo;s not what you&rsquo;re about, and you&rsquo;re excited to purchase everyday items with cryptocurrency, keep in mind that, with time, the list of options is getting progressively bigger!<\/p>\n<p>This wraps up the list of the main use cases of crypto assets. Don't forget to check other sections on this Crypto 101 Handbook if you want to become a real crypto expert!<\/p>","youtube_video":{"id":46,"channel_id":1,"sort":50,"video_title":"How to Use Crypto? 5 Rewarding Strategies Explained (Animated)","description":"How to use crypto after you acquire some coins or tokens?\n\nOnce you make your first crypto acquisition, you\u2019re now part of the exclusive club of crypto owners - welcome! However, what\u2019s next - specifically, how to use your newly-acquired crypto, and what can you buy with Bitcoin, Ethereum, and other assets?\n\nIn this video, I will answer the questions of what is cryptocurrency used for, and tell you about the 5 main methods of how to use cryptocurrencies. I will also outline the benefits and shortcomings of each, so that you would be able to figure out if either of them fits your wants and needs.\n\nDo you have any tips on how to use crypto, or what can people buy with Bitcoin? Share them, in the comment section below!\n\nVideo Time Table:\n\n0:00 Introduction to How to Use Crypto\n0:58 Storing Your Crypto in a Cold Wallet\n2:56 Trading Your Crypto\n3:56 Staking Crypto\n5:28 Investing Into Crypto Projects\n6:38 Using Specific Services\n7:50 Wrap-up: How to Use Crypto?\n\nGet Quick Crypto Tips on Twitter - Follow:\nhttps:\/\/twitter.com\/crypto_xplained\n\n#HowtoUseCrypto #WhatisCryptocurrencyUsedFor #HowtoUseBitcoin","video_id":"VbtVQnCbjsg","duration":490,"view_count":235,"thumbnail_url":"https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/how-to-use-crypto-5-rewarding-strategies-explained-animated.jpg","thumbnail_width":1280,"thumbnail_height":720,"published_at":"2023-01-05T16:23:05.000000Z","created_at":"2023-01-05T23:00:05.000000Z","updated_at":"2024-01-09T23:00:04.000000Z","channel":{"id":1,"title":"CryptoFinallyExplained","channel_id":"UCOryUY0yxC08eJtK23mNgiA","main_playlist_id":"UUOryUY0yxC08eJtK23mNgiA"}}}" :prev-section="{"id":379,"chapter_id":3,"order":5,"featured_image_id":3073,"youtube_video_id":44,"author_id":1,"created_at":"2022-11-21T10:02:07.000000Z","updated_at":"2023-11-30T10:43:39.000000Z","slug":"how-to-buy-crypto","title":"From Fiat to Crypto: How to Buy Crypto for the First Time","content":"<p>In this section, we&rsquo;re going to talk about the process of how to buy crypto for the very first time!<\/p>\n<p>So - you did your research, weighed all of the pros and cons, read all sections in our <strong>Crypto 101 Handbook<\/strong>, and have come to the conclusion that you do, in fact, want to become a cryptocurrency owner. It&rsquo;s time to buy your first cryptocurrency!<\/p>\n<p>While revelations like this are exciting, for sure, you quickly realize that you don&rsquo;t even know where to start! Like, does it matter which crypto you buy, or what currency you use to buy it? What about the regulations, different order types, storage options, and so on, and so forth? Well, worry not - I&rsquo;m here to help you out!<\/p>\n<p>In this crypto beginner&rsquo;s guide, <strong>we&rsquo;ll look into the process of buying cryptocurrency for the first time, and how to trade cryptocurrency for beginners<\/strong>. I&rsquo;ll guide you through the entire process, explaining every single step, so that you wouldn&rsquo;t find yourself confused, at any point. At the end of this section, I&rsquo;ll also tell you the very first thing that everyone needs to do after they&rsquo;ve purchased their crypto - stick around and find out!<\/p>\n<p><em>Let&rsquo;s get to it, then!<\/em><\/p>\n<h2>The Process of Buying Crypto for the First Time<\/h2>\n<p>So, if you&rsquo;re looking at how to buy crypto with a credit card, where do you start?<\/p>\n<p>Well, while this isn&rsquo;t a common thing to do, it&rsquo;s still highly recommended that you would first <strong>contact your bank<\/strong>, and find out if they have any form of restrictions on crypto exchanges and cryptocurrency acquisition.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to buy crypto: Contact your bank.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//buying_crypto_01.jpg/" alt=\"How to buy crypto: Contact your bank.\" width=\"1000\" height=\"462\" \/><\/p>\n<p>Sounds odd? Well, this can actually save you a lot of potential trouble, in the longer term!<\/p>\n<p>You see, while cryptocurrencies are slowly becoming more and more mainstream, and an increasing number of people are learning how to buy crypto, some banks and traditional financial institutions still have negative attitudes towards the space. If you&rsquo;re super-unlucky, and your bank is VERY against crypto, you could even get your account frozen, once you interact with an exchange! Don&rsquo;t worry, though - this is a very rare occurrence, and it can usually be solved pretty simply.<\/p>\n<p>Still, though - if you want to save yourself the potential headache, <strong>I would still suggest<\/strong> <strong>looking into the stance that your bank holds towards its clients buying crypto<\/strong>. Once you&rsquo;ve got that out of the way, we can move on to picking out an exchange.<\/p>\n<p>This is actually one of the most important steps that you need to take, while learning how to trade cryptocurrency for beginners. Think about it like this - if your car breaks down, you will need to find a mechanic to fix it. However, not any mechanic will do - if you take your car to some shady individual, they might end up ruining it, beyond repair! The same is true with crypto exchanges, as well - if you take your money to a suspicious exchange, many bad things could happen!<\/p>\n<p>That said, though&hellip; <strong>How do you go about picking the right exchange for yourself?<\/strong> Well, admittedly, this is a topic that doesn&rsquo;t only deserve a separate section, but could do with a whole chapter, in of itself! Keeping things short and to-the-point, though, you should do a lot of research on <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//best-cryptocurrency-exchange/">which exchange platforms are reliable<\/strong><\/a>, have a good track record when it comes to security features, comply with all regulatory standards, as well as offer the best trading fees, and a big variety of coin &amp; token trading pairs.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to buy crypto: Features of a good exchange.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//buying_crypto_02.jpg/" alt=\"How to buy crypto: Features of a good exchange.\" width=\"1000\" height=\"486\" \/><\/p>\n<p>Now, picking out the right cryptocurrency exchange that would allow you to learn how to day trade crypto for beginners might be a lengthy process - that&rsquo;s perfectly fine! You should take all the time that you need, and make sure that you choose wisely. For the sake of this section, I&rsquo;ve picked <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//goon//binance/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Binance<\/strong><\/a>, as my own exchange of choice - however, the processes that we&rsquo;ll discuss moving forward will frankly be the same with any other high-end exchange out there, as well, so you should be able to follow along, no problem.<\/p>\n<p>After choosing the exchange, we&rsquo;ll need to <strong>register on the platform and<\/strong> <strong>pass the required KYC &amp; AML verification checks<\/strong>. Let&rsquo;s break that down, shall we?<\/p>\n<p>Registration-wise, everything should take you no longer than a couple of minutes to complete. You&rsquo;d fill out your email, create a strong password, and fill out some other basic information, if requested. With most exchanges, after an email confirmation, you should be redirected to your exchange dashboard. Now, before you do anything else, this is where the KYC &amp; AML part comes in.<\/p>\n<p>KYC stands for <strong>&ldquo;Know Your Customer&rdquo;<\/strong>, while AML is <strong>&ldquo;Anti-Money Laundering&rdquo;<\/strong>. Both of these terms sound very fancy and official, and there's also a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//kyc-crypto/">dedicated section<\/strong><\/a> explaining them in-depth, too - feel free to check it out! For the time being, though, it&rsquo;s enough to say that KYC &amp; AML are like special security checks that everyone who wants to learn how to buy crypto need to pass, in order to start buying, selling, and trading cryptocurrencies on an exchange.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to buy crypto: KYC check.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//buying_crypto_03.jpg/" alt=\"How to buy crypto: KYC check.\" width=\"1000\" height=\"1088\" \/><\/p>\n<p>Before you ask - yes, these security checks are mandatory, and no, there&rsquo;s no safe way to &ldquo;bypass&rdquo; them. It&rsquo;s one of the reasons why it&rsquo;s super-important that you pick a reliable and well-established crypto exchange!<\/p>\n<p>With most exchange platforms, the <strong>KYC checks will involve you submitting some personal information about yourself<\/strong> - for example, in order to pass the basic KYC level on Binance, you will need to provide the platform with your full name, country of residence, address, birthday, nationality, some form of ID, and a selfie. Most of these are required with other high-tier exchanges, as well!<\/p>\n<p>Now, KYC really is a broad topic, so I won&rsquo;t look into it any further. Suffice to say that, after you&rsquo;ve submitted all of the information mentioned above, if it&rsquo;s all correct, your account should become verified shortly, and you&rsquo;ll be able to check how to buy crypto with a credit card for the first time!<\/p>\n<p>This is actually the part that tends to confuse a lot of people who are learning how to buy crypto! <strong>I mean, how do you actually BUY the crypto that you want?<\/strong> Do you need to fund your account, or can you buy straight from your credit or debit card?<\/p>\n<p>Well, let me tell you - everything&rsquo;s actually much simpler than it looks! For example, let&rsquo;s say that you want to purchase some <a href=https://www.bitdegree.org/"//crypto//buy-bitcoin-btc/">Bitcoin. Assuming that you&rsquo;ve registered on a top-rated exchange, and not some niche platform, the buying process should be extremely straightforward.<\/p>\n<p>Take <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//goon//binance/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Binance<\/strong><\/a>, as an example. If you&rsquo;re buying crypto with a credit or debit card, all that you need to do is navigate to the <em>&ldquo;Buy Crypto&rdquo;<\/em> section at the top of the exchange&rsquo;s homepage. Here, you&rsquo;ll be able to pick the currency that you want to pay in, as well as the crypto asset that you want to buy - say, Bitcoin.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to buy crypto: Binance.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//buying_crypto_04.jpg/" alt=\"How to buy crypto: Binance.\" width=\"1000\" height=\"382\" \/><\/p>\n<p>Now all that&rsquo;s really left to do is to enter your credit or debit card details, and confirm the purchase. Yes, it really is that simple! There&rsquo;s no need to pre-fund your account with money, and the entire process takes but a few minutes to complete.<\/p>\n<h2>You Own Crypto - Now What?<\/h2>\n<p>So, that&rsquo;s essentially how to buy crypto with a credit card, for the first time! A while ago, this process used to look quite different - it was much more complex, and involved a lot of extra steps. However, with crypto becoming more and more adopted, by the day, one of the biggest goals that crypto service providers have is to make the concept as approachable to complete beginners as possible. It&rsquo;s definitely much appreciated!<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to buy crypto: Process of buying crypto.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//buying_crypto_05.jpg/" alt=\"How to buy crypto: Process of buying crypto.\" width=\"1000\" height=\"495\" \/><\/p>\n<p>At this point in the crypto beginner&rsquo;s guide, you&rsquo;re probably sitting there wondering - <strong>what now?<\/strong> Well, there are many different ways how you can utilize your newly-acquired crypto! For now, though, I&rsquo;ll only mention the very first major thing that you need to do after purchasing crypto for the first time &ndash; <strong>transferring it to a secure <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-wallet/">cryptocurrency wallet<\/a><\/strong>.<\/p>\n<p>Think about it like this - imagine that you&rsquo;ve bought a new car. You&rsquo;re really excited to drive it, and are already planning the different road trips that you&rsquo;ll take. My question is - would you drive your new car home, and park it in your garage, or would you leave it in the parking lot of a mall?<\/p>\n<p>The answer seems pretty obvious, doesn&rsquo;t it? Sure, leaving your car in a parking lot isn&rsquo;t necessarily a bad thing, but there&rsquo;s a higher chance that something bad will happen to it than if you were to park it in your garage. Generally speaking, of course.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to buy crypto: Leaving your crypto on an exchange.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//buying_crypto_06.jpg/" alt=\"How to buy crypto: Leaving your crypto on an exchange.\" width=\"1000\" height=\"581\" \/><\/p>\n<p>The same is true with cryptocurrencies, as well. If you plan to start trading crypto, or will only hold a small number of coins &amp; tokens, leaving them on an exchange is fine - it&rsquo;s more convenient, and you don&rsquo;t need to worry about the wallet acquisition part.<\/p>\n<p>On the other hand, if you&rsquo;re serious about getting into crypto, and plan to make many additional purchases in the near future, <strong>investing some money in a well-built, industry-leading <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-hardware-wallet/">hardware wallet<\/a> might be the best choice that you&rsquo;ll make throughout your crypto journey<\/strong>. Just some food for thought, as you manage your new crypto assets!<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to buy crypto: Holding crypto in a hardware wallet.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//buying_crypto_07.jpg/" alt=\"How to buy crypto: Holding crypto in a hardware wallet.\" width=\"1000\" height=\"388\" \/><\/p>\n<p>Notice how I say - hardware wallet. It&rsquo;s true that there are multiple different software or browser-based crypto wallets out there, as well. However, if you&rsquo;re looking for the best security and peace of mind, nothing can compare to a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//cold-wallet/">high-end hardware product<\/strong><\/a>!<\/p>\n<p>So, that's pretty much it for first-time cryptocurrency purchases. Check out the other sections of this Crypto 101 Handbook if you want to learn more about the crypto industry as a whole!<\/p>","definition":"Did you know that purchasing crypto is as easy as purchasing shoes online?","status":"published","meta_title":"How to Buy Crypto for the First Time? A Thorough Guide","meta_description":"Want to be a part of the crypto world but don't know how to buy crypto? Read a step-by-step guide about buying your first crypto right here!","meta_keywords":"how to buy crypto, how to buy crypto with credit card, how to trade cryptocurrency for beginners\ncrypto beginners guide, how to day trade crypto for beginners","modified_content":"<p>In this section, we&rsquo;re going to talk about the process of how to buy crypto for the very first time!<\/p>\n<p>So - you did your research, weighed all of the pros and cons, read all sections in our <strong>Crypto 101 Handbook<\/strong>, and have come to the conclusion that you do, in fact, want to become a cryptocurrency owner. It&rsquo;s time to buy your first cryptocurrency!<\/p>\n<p>While revelations like this are exciting, for sure, you quickly realize that you don&rsquo;t even know where to start! Like, does it matter which crypto you buy, or what currency you use to buy it? What about the regulations, different order types, storage options, and so on, and so forth? Well, worry not - I&rsquo;m here to help you out!<\/p>\n<p>In this crypto beginner&rsquo;s guide, <strong>we&rsquo;ll look into the process of buying cryptocurrency for the first time, and how to trade cryptocurrency for beginners<\/strong>. I&rsquo;ll guide you through the entire process, explaining every single step, so that you wouldn&rsquo;t find yourself confused, at any point. At the end of this section, I&rsquo;ll also tell you the very first thing that everyone needs to do after they&rsquo;ve purchased their crypto - stick around and find out!<\/p>\n<p><em>Let&rsquo;s get to it, then!<\/em><\/p>\n<div class=\"container\">\n <div class=\"row justify-content-center\">\n <div class=\"col-md-10 suggested-comparisons pb-3 mb-4\">\n <div class=\"d-flex flex-row\">\n <div class=\"text-center\">\n <div class=\"img-block-yt\">\n <img src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//assets//images//compare-crypto-exchanges.gif/"/n alt=\"How to Buy Crypto SAFELY With a Credit Card (Animated)\"\n title=\"How to Buy Crypto SAFELY With a Credit Card (Animated)\" class=\"border-0\">\n <p>Video Explainer<\/p>\n <\/div>\n <\/div>\n <div class=\"col-xs-10 col-sm-10 col-md-10 text-left py-3 yt-info\">\n <h4 class=\"mb-1\">Video Explainer: From Fiat to Crypto: How to Buy Crypto for the First Time<\/h4>\n <p class=\"py-1 mb-0 youtube-video-subtitle\">Reading is not your thing? Watch the \"From Fiat to Crypto: How to Buy Crypto for the First Time\" video explainer<\/p>\n <\/div>\n <\/div>\n <div class=\"row justify-content-center text-center\">\n <div class=\"col-12 col-md-11 px-3\">\n <div class=\"wrapper mb-0\">\n <div class=\"position-relative youtube mb-4 bg-transparent p-0 video-modal-popup\" data-toggle=\"modal\"\n data-target=\"#video-modal\" data-id=\"y-7Bu2KtdYk\" data-title=\"CryptoFinallyExplained\">\n <div class=\"video-gradient-top\"><\/div>\n <p class=\"text-left dyk-video-title\">How to Buy Crypto SAFELY With a Credit Card (Animated)<\/p>\n <img data-srcset=\"https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/how-to-buy-crypto-safely-with-a-credit-card-animated.jpg?tr=w-420 500w,\n https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/how-to-buy-crypto-safely-with-a-credit-card-animated.jpg?tr=w-760 1000w\"\n alt=\"How to Buy Crypto SAFELY With a Credit Card (Animated)\"\n title=\"How to Buy Crypto SAFELY With a Credit Card (Animated)\"\n class=\"p-0 lazyload\">\n <img class=\"play-button lazyload\" data-target=\"#video-modal\"\n data-src=\"https:\/\/assets.bitdegree.org\/crypto\/assets\/video-button.png?tr=w-85\"\n alt=\"How to Buy Crypto SAFELY With a Credit Card (Animated)\">\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <div class=\"row justify-content-center text-center\">\n <div>\n <a href=https://www.bitdegree.org/"https:////www.youtube.com//c//CryptoFinallyExplained?sub_confirmation=1\%22\n class=\"btn yt-promo mb-2\" target=\"_blank\" rel=\"nofollow noopener noindex\">\n <div class=\"row justify-content-center align-items-center mx-0 text-center\">\n <div class=\"col-4 col-md-4\">\n <i class=\"fab fa-youtube yt-dyk-btn\"><\/i>\n <\/div>\n <div class=\"col-8 col-md-8 text-center yt-promo-text\">\n <h4 class=\"m-0 text-white\">SUBSCRIBE<\/h4>\n <span>ON YOUTUBE<\/span>\n <\/div>\n <\/div>\n <\/a>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n<div class=\"modal fade\" id=\"video-modal\" tabindex=\"-1\" role=\"dialog\">\n <div class=\"modal-dialog modal-dialog-centered modal-lg\" role=\"document\">\n <div class=\"modal-content\">\n <div class=\"modal-body p-0\">\n <button type=\"button\" class=\"video-modal-close close\" data-dismiss=\"modal\" aria-label=\"Close\">\n <i aria-hidden=\"true\" class=\"fas fa-times\"><\/i>\n <\/button>\n <div id=\"iframe\"><\/div>\n <\/div>\n <a class=\"text-decoration-none\"\n href=https://www.bitdegree.org/"https:////www.youtube.com//c//CryptoFinallyExplained?sub_confirmation=1\%22\n rel=\"nofollow noopener noindex\" target=\"_blank\">\n <div class=\"modal-footer p-0 d-block bg-white\">\n <div class=\"row justify-content-center m-0\">\n <div class=\"col-3 col-md-4 col-lg-2 p-0\">\n <img class=\"w-100 h-100\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//assets//crypto-subscribe.jpg/" alt=\"Subscribe\">\n <\/div>\n <div class=\"col-9 col-md-8 col-lg-2 px-0 d-flex\">\n <div class=\"modal-subscribe w-100\">\n <p class=\"m-0 mt-1 mr-3\">SUBSCRIBE<br>\n <span class=\"m-0\">ON YOUTUBE<\/span>\n <\/p>\n <\/div>\n <\/div>\n <div class=\"col-12 col-md-12 col-lg-8 p-0 text-center d-flex justify-content-center align-items-center\">\n <div class=\"modal-subscribe-text\">\n <h4 class=\"m-0\">Understand crypto with ease<\/h4>\n <span>New explainer videos every week!<\/span>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/a>\n <\/div>\n <\/div>\n<\/div>\n<h2>The Process of Buying Crypto for the First Time<\/h2>\n<p>So, if you&rsquo;re looking at how to buy crypto with a credit card, where do you start?<\/p>\n<p>Well, while this isn&rsquo;t a common thing to do, it&rsquo;s still highly recommended that you would first <strong>contact your bank<\/strong>, and find out if they have any form of restrictions on crypto exchanges and cryptocurrency acquisition.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to buy crypto: Contact your bank.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//buying_crypto_01.jpg/" alt=\"How to buy crypto: Contact your bank.\" width=\"1000\" height=\"462\" \/><\/p>\n<p>Sounds odd? Well, this can actually save you a lot of potential trouble, in the longer term!<\/p>\n<p>You see, while cryptocurrencies are slowly becoming more and more mainstream, and an increasing number of people are learning how to buy crypto, some banks and traditional financial institutions still have negative attitudes towards the space. If you&rsquo;re super-unlucky, and your bank is VERY against crypto, you could even get your account frozen, once you interact with an exchange! Don&rsquo;t worry, though - this is a very rare occurrence, and it can usually be solved pretty simply.<\/p>\n<p>Still, though - if you want to save yourself the potential headache, <strong>I would still suggest<\/strong> <strong>looking into the stance that your bank holds towards its clients buying crypto<\/strong>. Once you&rsquo;ve got that out of the way, we can move on to picking out an exchange.<\/p>\n<p>This is actually one of the most important steps that you need to take, while learning how to trade cryptocurrency for beginners. Think about it like this - if your car breaks down, you will need to find a mechanic to fix it. However, not any mechanic will do - if you take your car to some shady individual, they might end up ruining it, beyond repair! The same is true with crypto exchanges, as well - if you take your money to a suspicious exchange, many bad things could happen!<\/p>\n<p>That said, though&hellip; <strong>How do you go about picking the right exchange for yourself?<\/strong> Well, admittedly, this is a topic that doesn&rsquo;t only deserve a separate section, but could do with a whole chapter, in of itself! Keeping things short and to-the-point, though, you should do a lot of research on <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//best-cryptocurrency-exchange/">which exchange platforms are reliable<\/strong><\/a>, have a good track record when it comes to security features, comply with all regulatory standards, as well as offer the best trading fees, and a big variety of coin &amp; token trading pairs.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to buy crypto: Features of a good exchange.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//buying_crypto_02.jpg/" alt=\"How to buy crypto: Features of a good exchange.\" width=\"1000\" height=\"486\" \/><\/p>\n<p>Now, picking out the right cryptocurrency exchange that would allow you to learn how to day trade crypto for beginners might be a lengthy process - that&rsquo;s perfectly fine! You should take all the time that you need, and make sure that you choose wisely. For the sake of this section, I&rsquo;ve picked <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//goon//binance/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Binance<\/strong><\/a>, as my own exchange of choice - however, the processes that we&rsquo;ll discuss moving forward will frankly be the same with any other high-end exchange out there, as well, so you should be able to follow along, no problem.<\/p>\n<p>After choosing the exchange, we&rsquo;ll need to <strong>register on the platform and<\/strong> <strong>pass the required KYC &amp; AML verification checks<\/strong>. Let&rsquo;s break that down, shall we?<\/p>\n<p>Registration-wise, everything should take you no longer than a couple of minutes to complete. You&rsquo;d fill out your email, create a strong password, and fill out some other basic information, if requested. With most exchanges, after an email confirmation, you should be redirected to your exchange dashboard. Now, before you do anything else, this is where the KYC &amp; AML part comes in.<\/p>\n<p>KYC stands for <strong>&ldquo;Know Your Customer&rdquo;<\/strong>, while AML is <strong>&ldquo;Anti-Money Laundering&rdquo;<\/strong>. Both of these terms sound very fancy and official, and there's also a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//kyc-crypto/">dedicated section<\/strong><\/a> explaining them in-depth, too - feel free to check it out! For the time being, though, it&rsquo;s enough to say that KYC &amp; AML are like special security checks that everyone who wants to learn how to buy crypto need to pass, in order to start buying, selling, and trading cryptocurrencies on an exchange.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to buy crypto: KYC check.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//buying_crypto_03.jpg/" alt=\"How to buy crypto: KYC check.\" width=\"1000\" height=\"1088\" \/><\/p>\n<p>Before you ask - yes, these security checks are mandatory, and no, there&rsquo;s no safe way to &ldquo;bypass&rdquo; them. It&rsquo;s one of the reasons why it&rsquo;s super-important that you pick a reliable and well-established crypto exchange!<\/p>\n<p>With most exchange platforms, the <strong>KYC checks will involve you submitting some personal information about yourself<\/strong> - for example, in order to pass the basic KYC level on Binance, you will need to provide the platform with your full name, country of residence, address, birthday, nationality, some form of ID, and a selfie. Most of these are required with other high-tier exchanges, as well!<\/p>\n<p>Now, KYC really is a broad topic, so I won&rsquo;t look into it any further. Suffice to say that, after you&rsquo;ve submitted all of the information mentioned above, if it&rsquo;s all correct, your account should become verified shortly, and you&rsquo;ll be able to check how to buy crypto with a credit card for the first time!<\/p>\n<p>This is actually the part that tends to confuse a lot of people who are learning how to buy crypto! <strong>I mean, how do you actually BUY the crypto that you want?<\/strong> Do you need to fund your account, or can you buy straight from your credit or debit card?<\/p>\n<p>Well, let me tell you - everything&rsquo;s actually much simpler than it looks! For example, let&rsquo;s say that you want to purchase some <a href=https://www.bitdegree.org/"//crypto//buy-bitcoin-btc/">Bitcoin. Assuming that you&rsquo;ve registered on a top-rated exchange, and not some niche platform, the buying process should be extremely straightforward.<\/p>\n<p>Take <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//goon//binance/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Binance<\/strong><\/a>, as an example. If you&rsquo;re buying crypto with a credit or debit card, all that you need to do is navigate to the <em>&ldquo;Buy Crypto&rdquo;<\/em> section at the top of the exchange&rsquo;s homepage. Here, you&rsquo;ll be able to pick the currency that you want to pay in, as well as the crypto asset that you want to buy - say, Bitcoin.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to buy crypto: Binance.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//buying_crypto_04.jpg/" alt=\"How to buy crypto: Binance.\" width=\"1000\" height=\"382\" \/><\/p>\n<p>Now all that&rsquo;s really left to do is to enter your credit or debit card details, and confirm the purchase. Yes, it really is that simple! There&rsquo;s no need to pre-fund your account with money, and the entire process takes but a few minutes to complete.<\/p>\n<h2>You Own Crypto - Now What?<\/h2>\n<p>So, that&rsquo;s essentially how to buy crypto with a credit card, for the first time! A while ago, this process used to look quite different - it was much more complex, and involved a lot of extra steps. However, with crypto becoming more and more adopted, by the day, one of the biggest goals that crypto service providers have is to make the concept as approachable to complete beginners as possible. It&rsquo;s definitely much appreciated!<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to buy crypto: Process of buying crypto.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//buying_crypto_05.jpg/" alt=\"How to buy crypto: Process of buying crypto.\" width=\"1000\" height=\"495\" \/><\/p>\n<p>At this point in the crypto beginner&rsquo;s guide, you&rsquo;re probably sitting there wondering - <strong>what now?<\/strong> Well, there are many different ways how you can utilize your newly-acquired crypto! For now, though, I&rsquo;ll only mention the very first major thing that you need to do after purchasing crypto for the first time &ndash; <strong>transferring it to a secure <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-wallet/">cryptocurrency wallet<\/a><\/strong>.<\/p>\n<p>Think about it like this - imagine that you&rsquo;ve bought a new car. You&rsquo;re really excited to drive it, and are already planning the different road trips that you&rsquo;ll take. My question is - would you drive your new car home, and park it in your garage, or would you leave it in the parking lot of a mall?<\/p>\n<p>The answer seems pretty obvious, doesn&rsquo;t it? Sure, leaving your car in a parking lot isn&rsquo;t necessarily a bad thing, but there&rsquo;s a higher chance that something bad will happen to it than if you were to park it in your garage. Generally speaking, of course.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to buy crypto: Leaving your crypto on an exchange.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//buying_crypto_06.jpg/" alt=\"How to buy crypto: Leaving your crypto on an exchange.\" width=\"1000\" height=\"581\" \/><\/p>\n<p>The same is true with cryptocurrencies, as well. If you plan to start trading crypto, or will only hold a small number of coins &amp; tokens, leaving them on an exchange is fine - it&rsquo;s more convenient, and you don&rsquo;t need to worry about the wallet acquisition part.<\/p>\n<p>On the other hand, if you&rsquo;re serious about getting into crypto, and plan to make many additional purchases in the near future, <strong>investing some money in a well-built, industry-leading <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-hardware-wallet/">hardware wallet<\/a> might be the best choice that you&rsquo;ll make throughout your crypto journey<\/strong>. Just some food for thought, as you manage your new crypto assets!<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"How to buy crypto: Holding crypto in a hardware wallet.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//buying_crypto_07.jpg/" alt=\"How to buy crypto: Holding crypto in a hardware wallet.\" width=\"1000\" height=\"388\" \/><\/p>\n<p>Notice how I say - hardware wallet. It&rsquo;s true that there are multiple different software or browser-based crypto wallets out there, as well. However, if you&rsquo;re looking for the best security and peace of mind, nothing can compare to a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//cold-wallet/">high-end hardware product<\/strong><\/a>!<\/p>\n<p>So, that's pretty much it for first-time cryptocurrency purchases. Check out the other sections of this Crypto 101 Handbook if you want to learn more about the crypto industry as a whole!<\/p>","youtube_video":{"id":44,"channel_id":1,"sort":52,"video_title":"How to Buy Crypto SAFELY With a Credit Card (Animated)","description":"Step-by-step guide on how to buy crypto safely & easily.\n\nCryptocurrency acquisition might feel like second nature to many already-established crypto enthusiasts, but it\u2019s easy to forget that this space is still quite young, and there's a lot of widespread confusion present, to this day. This is especially true if you\u2019re a complete newbie, and are looking at how to buy crypto for the first time.\n\nIn this video, I am going to tell you how to do so, in a step-by-step manner. I\u2019ll explain what you need to know for each step, what you\u2019ll need in order to perform the purchase, as well as what would be the best thing to do right after you buy crypto for the very first time. \n\nHave you already bought crypto, or are you still in the learning phase? Share your thoughts with everyone, in the comment section below!\n\nVideo Time Table:\n\n0:00 Introduction to How to Buy Crypto With a Credit Card\n1:06 How to Buy Crypto With a Credit Card\n2:23 How to Pick the Right Crypto Exchange?\n5:01 The Process of Buying Crypto\n6:22 You Own Crypto - Now What?\n7:57 Wrap-up: How to Buy Crypto \n\nGet Quick Crypto Tips on Twitter - Follow:\nhttps:\/\/twitter.com\/crypto_xplained\n\n#HowToBuyCrypto #HowToBuyCryptoWithCreditCard #HowToTradeCryptocurrencyForBeginners","video_id":"y-7Bu2KtdYk","duration":527,"view_count":233,"thumbnail_url":"https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/how-to-buy-crypto-safely-with-a-credit-card-animated.jpg","thumbnail_width":1280,"thumbnail_height":720,"published_at":"2022-12-20T17:00:14.000000Z","created_at":"2022-12-20T23:00:06.000000Z","updated_at":"2024-01-09T23:00:04.000000Z","channel":{"id":1,"title":"CryptoFinallyExplained","channel_id":"UCOryUY0yxC08eJtK23mNgiA","main_playlist_id":"UUOryUY0yxC08eJtK23mNgiA"}}}" :model="{"id":380,"chapter_id":3,"order":6,"featured_image_id":3074,"youtube_video_id":45,"author_id":1,"created_at":"2022-11-21T11:57:44.000000Z","updated_at":"2023-12-21T06:50:09.000000Z","slug":"fiat-to-crypto","title":"Taking Profits: Turning Crypto Into Fiat","content":"<p>In this section, we&rsquo;re going to talk about <strong>how to turn your <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-fiat/">fiat to crypto, and vice versa!<\/strong><\/p>\n<p>Recently, I wrote a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//how-to-buy-crypto/">section about buying cryptocurrency, for the very first time. If you haven&rsquo;t read it, make sure to check it out! In that section, I went through the steps that you would need to take in order to become a proud owner of crypto!<\/p>\n<p>What if you already have your crypto, and are ready to take some profits - in other words, you want to cash out? Is it as simple to do as when you buy crypto, or are there some extra steps involved? You'll find answers to all of those questions (and more) in this section!<\/p>\n<p>So, in this section, we&rsquo;re going to talk about turning crypto into fiat money, and fiat to crypto. I&rsquo;ll tell you about the best ways to convert crypto to fiat, in a step-by-step manner!<\/p>\n<p><em>Let&rsquo;s get right to it, then!<\/em><\/p>\n<h2>Turning Crypto Into Fiat: The Exchange Method<\/h2>\n<p>So, while there are a few different ways of how you can turn fiat to crypto, and then crypto into fiat money, we&rsquo;ll start off with the most obvious one - <strong>selling your cryptocurrency on a fiat-to-crypto exchange<\/strong>, for USD, EUR, or any other traditional currency, and then transferring it to your bank account.<\/p>\n<p>Now, for the sake of covering every possible major scenario, I&rsquo;ll talk about two different situations - first, I&rsquo;ll assume that you&rsquo;ve read the previous section about buying crypto, and already have cryptocurrency on an exchange platform, and later, I&rsquo;ll also talk about what to do if you&rsquo;re crypto is stored in a wallet somewhere.<\/p>\n<p>Assuming that you&rsquo;re already registered on a cryptocurrency exchange, have passed all of the required <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//kyc-crypto/">KYC &amp; AML<\/strong><\/a> checks, and have your account all set up, with crypto assets on it, the <em>&ldquo;cashing out&rdquo;<\/em> part is actually really simple to do&hellip; In most cases.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Fiat to crypto: Trade and withdraw.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//crypto_to_fiat_01.jpg/" alt=\"Fiat to crypto: Trade and withdraw.\" width=\"1000\" height=\"1080\" \/><\/p>\n<p>You see, there&rsquo;s a pretty good chance that all that you really need to do is sell your crypto on the exchange, for the currency of your choice, and then use the withdrawal feature on the platform! <strong>Most high-end exchanges will allow you to pick and choose the withdrawal method<\/strong>, but if you already have, say, the debit card that you used to buy crypto added to the exchange, you can click a few buttons, and wait for the money to reach your bank account.<\/p>\n<p><em>Is it really that simple?<\/em> Actually, yes - it is! You will naturally need to decide how much crypto you want to sell VS if you want to keep any on the exchange, but other than that, chances are that your process of turning crypto into fiat money is going to be very quick, simple, and straightforward.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Fiat to crypto: Buy, transfer, withdraw.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//crypto_to_fiat_02.jpg/" alt=\"Fiat to crypto: Buy, transfer, withdraw.\" width=\"1000\" height=\"874\" \/><\/p>\n<p><strong>Now, there&rsquo;s another scenario<\/strong> where the exchange that you&rsquo;re using might allow you to BUY crypto via a bank transfer or credit &amp; debit cards (turn fiat to crypto), but doesn&rsquo;t support an actual WITHDRAWAL feature, in fiat money. Some years back, this used to be the case somewhat often - there were but a handful of reliable exchanges that would allow you to <em>&ldquo;cash out&rdquo;<\/em>, so to speak.<\/p>\n<p>Nowadays, this is a much rarer occurrence - but it still does happen! So, what should you do in a situation like this?<\/p>\n<p>Well, there are two options - one is a bit simpler, and involves exchange platforms, while the other involves actually meeting other people. We&rsquo;ll cross that bridge when we get there, though - for now, let&rsquo;s focus on the first option.<\/p>\n<p><strong>Your first step is to find a cryptocurrency exchange<\/strong>, other than the one you&rsquo;re currently using, and one that allows its clients to withdraw fiat money into their bank accounts. Once again, doing so shouldn&rsquo;t prove to be difficult - most of the top-tier exchanges have this functionality!<\/p>\n<p>Once you find an exchange like this, however, you will then need to register on it, pass the KYC checks, and transfer your crypto from the current exchange to the new one. Here, you will be able to sell it, and after adding a valid payment method, cash out!<\/p>\n<p>Now, I admit - all of that sounds a bit convoluted, when you just machine-gun it out loud like that. But, I assure you - the process is actually much simpler than it looks, in reality! There are two things that you should pay the most attention to - <strong>picking an appropriate exchange, and ensuring that your crypto transfer is safe and correct<\/strong>. If these are topics that you&rsquo;d like more information about, there are dedicated sections covering <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//how-do-cryptocurrency-exchanges-work/">crypto exchanges<\/strong><\/a> and <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//blockchain-transaction/">blockchain transactions<\/strong><\/a> on this Crypto 101 Handbook - check them out!<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Fiat to crypto: Wallet.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//crypto_to_fiat_03.jpg/" alt=\"Fiat to crypto: Wallet.\" width=\"1000\" height=\"743\" \/><\/p>\n<p>Now, another potential scenario might be that you&rsquo;re <strong>holding your cryptocurrencies in a wallet<\/strong> - a separate piece of software or hardware that has nothing to do with an exchange. If that&rsquo;s the case, all that you need to do is transfer your crypto from the wallet to a designated exchange platform of your choice, and sell it there. It&rsquo;s similar to transferring your money from a bank account to an exchange, in a fiat VS crypto way!<\/p>\n<p>Note, though, that there&rsquo;s a potential alternative route, as well - some wallets have built-in tools that would allow you to sell crypto, straight from the wallet! This depends on what wallet it is that you&rsquo;re using, but if your crypto storage supports a feature like this, it&rsquo;s definitely worth considering, since you skip out on a lot of steps!<\/p>\n<h2>Turning Crypto Into Fiat: The In-Person Meetup Method<\/h2>\n<p>Continuing on, up to this point, we&rsquo;ve discussed the <em>&ldquo;easy&rdquo;<\/em>, or <em>&ldquo;preferable&rdquo;<\/em> methods of turning crypto into cash - all you need is an exchange, and a valid withdrawal method, and you&rsquo;re set! Well, that&rsquo;s assuming that you&rsquo;ve already bought crypto, and know how exchanges work, in the first place - if that&rsquo;s still something you&rsquo;re feeling iffy about, make sure to read a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//how-do-cryptocurrency-exchanges-work/">dedicated section<\/strong><\/a> about it before moving on whit this one!<\/p>\n<p>Now, there&rsquo;s another approach that you could take, as well - one that involves<strong> meeting other people, and selling your crypto in the real world<\/strong>.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Fiat to crypto: The in-person meetup method.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//crypto_to_fiat_04.jpg/" alt=\"Fiat to crypto: The in-person meetup method.\" width=\"1000\" height=\"632\" \/><\/p>\n<p>Straight off the bat, let me just say - <strong>I do NOT recommend doing this<\/strong>, neither for fiat-to-crypto, nor crypto-to-fiat conversion purposes! With crypto transactions becoming simpler and faster to perform, on exchanges, there really is no major reason why you would go through all of that effort of meeting another individual, and performing the transaction this way.<\/p>\n<p>Well, maybe there is one reason - if you&rsquo;re really adamant about <strong>preserving your anonymity<\/strong>.<\/p>\n<p>Think about it this way - say, you&rsquo;ve never bought any crypto, and are not registered on any type of exchange platform. Yet, you already own cryptocurrency - maybe a friend sent it to you, or someone paid you for your awesome drawing in crypto tokens? Whatever the case might be, you&rsquo;re at a point where you want to turn your crypto into fiat money.<\/p>\n<p>However, you are really serious about your privacy, and thus, registering on a cryptocurrency exchange, and providing it with all of your sensitive information just doesn&rsquo;t sound appealing to you. In a situation like this, your only real other option is to find a potential buyer from your area, meet them, and make the transaction.<\/p>\n<p>If, for any reason, you do decide that an in-person transaction is <em>&ldquo;the way to go&rdquo;<\/em>, there are a few things that you need to be aware of. First and foremost, <strong>never go alone<\/strong> - always bring at least one other friend, to keep you company and provide that extra safety.<\/p>\n<p>Secondly, <strong>make sure to meet the buyer in a public place<\/strong>, like the mall or a coffee shop. This will make you both feel easier about the meeting, since there will be other people around.<\/p>\n<p>Lastly, if you&rsquo;re accepting cash for your crypto, you should <strong>carry a fake-money checking machine with you<\/strong>. This way, you&rsquo;ll be able to check the money on the spot, and won&rsquo;t need to worry about potentially being scammed.<\/p>\n<p>Let me reiterate, though - in-person crypto sales are a very specific, niche scenario that, in the vast majority of cases, isn&rsquo;t the recommended thing to do. Instead, you&rsquo;re much better off going the traditional, exchange route.<\/p>\n<h2>Don&rsquo;t Forget the Taxes!<\/h2>\n<p>Now that you know how to turn crypto into fiat money, it would be very irresponsible of me to let you go without talking about one last thing. And, it&rsquo;s actually a topic that everyone in the crypto space are really excited about - taxes!<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Fiat to crypto: Don't forget taxes.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//crypto_to_fiat_05.jpg/" alt=\"Fiat to crypto: Don't forget taxes.\" width=\"1000\" height=\"504\" \/><\/p>\n<p>Well, maybe it&rsquo;s not the most exciting topic that one might think of, but it&rsquo;s definitely a huge and important point that needs to be considered, when you&rsquo;re dealing with buying and selling crypto.<\/p>\n<p>No matter if you sell cryptocurrencies on an exchange, directly from your wallet, in person, or in any other way imaginable, <strong>your sale will be considered a taxable event<\/strong>. Thus, you should take some time out of your day, make a cup of coffee, sit down, and really look into the specifics of crypto taxation in your country.<\/p>\n<p>What I&rsquo;m getting at is simple - while you might have made an awesome profit from your initial crypto investment, part of that profit will likely need to be paid, as taxes! Of course, when you&rsquo;re performing an in-person transaction, things become much more complicated - you need to declare the sale yourself, and there&rsquo;s no exchange to pull the data from, at the end of the tax year.<\/p>\n<p>Just one more reason to stay safe, and only buy and sell crypto on reliable, trusted cryptocurrency exchange platforms!<\/p>\n<p>Now, if you&rsquo;re really concerned about the crypto taxes, and are looking for every possible legal solution of how to minimize them, <strong>I highly recommend checking out <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//how-to-avoid-crypto-taxes/">this section<\/a> on how to avoid cryptocurrency taxes - legally, of course<\/strong>! Maybe you&rsquo;ll be eligible for a tax reduction, or perhaps there&rsquo;s some other, specific law in your region, that will allow you to save a lot of money on taxes?<\/p>\n<p>That being said, it's about all the basic information you need to know as a crypto beginner. Just remember - <strong>the best way to convert crypto to fiat is via a trusted, reliable exchange platform<\/strong>.<\/p>","definition":"Did you know that most high-end crypto exchanges allow you to easily withdraw your fiat money back to your bank account?","status":"published","meta_title":"How to Turn Fiat to Crypto and Vice Versa","meta_description":"Don't know how to turn your fiat to crypto, and the other way around? Right here, you'll find everything about crypto to fiat redemption.","meta_keywords":"fiat to crypto, fiat vs crypto, fiat to crypto exchange, best way to convert crypto to fiat","modified_content":"<p>In this section, we&rsquo;re going to talk about <strong>how to turn your <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-fiat/">fiat to crypto, and vice versa!<\/strong><\/p>\n<p>Recently, I wrote a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//how-to-buy-crypto/">section about buying cryptocurrency, for the very first time. If you haven&rsquo;t read it, make sure to check it out! In that section, I went through the steps that you would need to take in order to become a proud owner of crypto!<\/p>\n<p>What if you already have your crypto, and are ready to take some profits - in other words, you want to cash out? Is it as simple to do as when you buy crypto, or are there some extra steps involved? You'll find answers to all of those questions (and more) in this section!<\/p>\n<p>So, in this section, we&rsquo;re going to talk about turning crypto into fiat money, and fiat to crypto. I&rsquo;ll tell you about the best ways to convert crypto to fiat, in a step-by-step manner!<\/p>\n<p><em>Let&rsquo;s get right to it, then!<\/em><\/p>\n<div class=\"container\">\n <div class=\"row justify-content-center\">\n <div class=\"col-md-10 suggested-comparisons pb-3 mb-4\">\n <div class=\"d-flex flex-row\">\n <div class=\"text-center\">\n <div class=\"img-block-yt\">\n <img src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//assets//images//compare-crypto-exchanges.gif/"/n alt=\"4 Ways to Turn Fiat to Crypto VS Crypto to Fiat (Easily Explained)\"\n title=\"4 Ways to Turn Fiat to Crypto VS Crypto to Fiat (Easily Explained)\" class=\"border-0\">\n <p>Video Explainer<\/p>\n <\/div>\n <\/div>\n <div class=\"col-xs-10 col-sm-10 col-md-10 text-left py-3 yt-info\">\n <h4 class=\"mb-1\">Video Explainer: Taking Profits: Turning Crypto Into Fiat<\/h4>\n <p class=\"py-1 mb-0 youtube-video-subtitle\">Reading is not your thing? Watch the \"Taking Profits: Turning Crypto Into Fiat\" video explainer<\/p>\n <\/div>\n <\/div>\n <div class=\"row justify-content-center text-center\">\n <div class=\"col-12 col-md-11 px-3\">\n <div class=\"wrapper mb-0\">\n <div class=\"position-relative youtube mb-4 bg-transparent p-0 video-modal-popup\" data-toggle=\"modal\"\n data-target=\"#video-modal\" data-id=\"AiQfGSEhxmg\" data-title=\"CryptoFinallyExplained\">\n <div class=\"video-gradient-top\"><\/div>\n <p class=\"text-left dyk-video-title\">4 Ways to Turn Fiat to Crypto VS Crypto to Fiat (Easily Explained)<\/p>\n <img data-srcset=\"https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/4-ways-to-turn-fiat-to-crypto-vs-crypto-to-fiat-easily-explained.jpg?tr=w-420 500w,\n https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/4-ways-to-turn-fiat-to-crypto-vs-crypto-to-fiat-easily-explained.jpg?tr=w-760 1000w\"\n alt=\"4 Ways to Turn Fiat to Crypto VS Crypto to Fiat (Easily Explained)\"\n title=\"4 Ways to Turn Fiat to Crypto VS Crypto to Fiat (Easily Explained)\"\n class=\"p-0 lazyload\">\n <img class=\"play-button lazyload\" data-target=\"#video-modal\"\n data-src=\"https:\/\/assets.bitdegree.org\/crypto\/assets\/video-button.png?tr=w-85\"\n alt=\"4 Ways to Turn Fiat to Crypto VS Crypto to Fiat (Easily Explained)\">\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <div class=\"row justify-content-center text-center\">\n <div>\n <a href=https://www.bitdegree.org/"https:////www.youtube.com//c//CryptoFinallyExplained?sub_confirmation=1\%22\n class=\"btn yt-promo mb-2\" target=\"_blank\" rel=\"nofollow noopener noindex\">\n <div class=\"row justify-content-center align-items-center mx-0 text-center\">\n <div class=\"col-4 col-md-4\">\n <i class=\"fab fa-youtube yt-dyk-btn\"><\/i>\n <\/div>\n <div class=\"col-8 col-md-8 text-center yt-promo-text\">\n <h4 class=\"m-0 text-white\">SUBSCRIBE<\/h4>\n <span>ON YOUTUBE<\/span>\n <\/div>\n <\/div>\n <\/a>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n<div class=\"modal fade\" id=\"video-modal\" tabindex=\"-1\" role=\"dialog\">\n <div class=\"modal-dialog modal-dialog-centered modal-lg\" role=\"document\">\n <div class=\"modal-content\">\n <div class=\"modal-body p-0\">\n <button type=\"button\" class=\"video-modal-close close\" data-dismiss=\"modal\" aria-label=\"Close\">\n <i aria-hidden=\"true\" class=\"fas fa-times\"><\/i>\n <\/button>\n <div id=\"iframe\"><\/div>\n <\/div>\n <a class=\"text-decoration-none\"\n href=https://www.bitdegree.org/"https:////www.youtube.com//c//CryptoFinallyExplained?sub_confirmation=1\%22\n rel=\"nofollow noopener noindex\" target=\"_blank\">\n <div class=\"modal-footer p-0 d-block bg-white\">\n <div class=\"row justify-content-center m-0\">\n <div class=\"col-3 col-md-4 col-lg-2 p-0\">\n <img class=\"w-100 h-100\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//assets//crypto-subscribe.jpg/" alt=\"Subscribe\">\n <\/div>\n <div class=\"col-9 col-md-8 col-lg-2 px-0 d-flex\">\n <div class=\"modal-subscribe w-100\">\n <p class=\"m-0 mt-1 mr-3\">SUBSCRIBE<br>\n <span class=\"m-0\">ON YOUTUBE<\/span>\n <\/p>\n <\/div>\n <\/div>\n <div class=\"col-12 col-md-12 col-lg-8 p-0 text-center d-flex justify-content-center align-items-center\">\n <div class=\"modal-subscribe-text\">\n <h4 class=\"m-0\">Understand crypto with ease<\/h4>\n <span>New explainer videos every week!<\/span>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/a>\n <\/div>\n <\/div>\n<\/div>\n<h2>Turning Crypto Into Fiat: The Exchange Method<\/h2>\n<p>So, while there are a few different ways of how you can turn fiat to crypto, and then crypto into fiat money, we&rsquo;ll start off with the most obvious one - <strong>selling your cryptocurrency on a fiat-to-crypto exchange<\/strong>, for USD, EUR, or any other traditional currency, and then transferring it to your bank account.<\/p>\n<p>Now, for the sake of covering every possible major scenario, I&rsquo;ll talk about two different situations - first, I&rsquo;ll assume that you&rsquo;ve read the previous section about buying crypto, and already have cryptocurrency on an exchange platform, and later, I&rsquo;ll also talk about what to do if you&rsquo;re crypto is stored in a wallet somewhere.<\/p>\n<p>Assuming that you&rsquo;re already registered on a cryptocurrency exchange, have passed all of the required <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//kyc-crypto/">KYC &amp; AML<\/strong><\/a> checks, and have your account all set up, with crypto assets on it, the <em>&ldquo;cashing out&rdquo;<\/em> part is actually really simple to do&hellip; In most cases.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Fiat to crypto: Trade and withdraw.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//crypto_to_fiat_01.jpg/" alt=\"Fiat to crypto: Trade and withdraw.\" width=\"1000\" height=\"1080\" \/><\/p>\n<p>You see, there&rsquo;s a pretty good chance that all that you really need to do is sell your crypto on the exchange, for the currency of your choice, and then use the withdrawal feature on the platform! <strong>Most high-end exchanges will allow you to pick and choose the withdrawal method<\/strong>, but if you already have, say, the debit card that you used to buy crypto added to the exchange, you can click a few buttons, and wait for the money to reach your bank account.<\/p>\n<p><em>Is it really that simple?<\/em> Actually, yes - it is! You will naturally need to decide how much crypto you want to sell VS if you want to keep any on the exchange, but other than that, chances are that your process of turning crypto into fiat money is going to be very quick, simple, and straightforward.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Fiat to crypto: Buy, transfer, withdraw.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//crypto_to_fiat_02.jpg/" alt=\"Fiat to crypto: Buy, transfer, withdraw.\" width=\"1000\" height=\"874\" \/><\/p>\n<p><strong>Now, there&rsquo;s another scenario<\/strong> where the exchange that you&rsquo;re using might allow you to BUY crypto via a bank transfer or credit &amp; debit cards (turn fiat to crypto), but doesn&rsquo;t support an actual WITHDRAWAL feature, in fiat money. Some years back, this used to be the case somewhat often - there were but a handful of reliable exchanges that would allow you to <em>&ldquo;cash out&rdquo;<\/em>, so to speak.<\/p>\n<p>Nowadays, this is a much rarer occurrence - but it still does happen! So, what should you do in a situation like this?<\/p>\n<p>Well, there are two options - one is a bit simpler, and involves exchange platforms, while the other involves actually meeting other people. We&rsquo;ll cross that bridge when we get there, though - for now, let&rsquo;s focus on the first option.<\/p>\n<p><strong>Your first step is to find a cryptocurrency exchange<\/strong>, other than the one you&rsquo;re currently using, and one that allows its clients to withdraw fiat money into their bank accounts. Once again, doing so shouldn&rsquo;t prove to be difficult - most of the top-tier exchanges have this functionality!<\/p>\n<p>Once you find an exchange like this, however, you will then need to register on it, pass the KYC checks, and transfer your crypto from the current exchange to the new one. Here, you will be able to sell it, and after adding a valid payment method, cash out!<\/p>\n<p>Now, I admit - all of that sounds a bit convoluted, when you just machine-gun it out loud like that. But, I assure you - the process is actually much simpler than it looks, in reality! There are two things that you should pay the most attention to - <strong>picking an appropriate exchange, and ensuring that your crypto transfer is safe and correct<\/strong>. If these are topics that you&rsquo;d like more information about, there are dedicated sections covering <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//how-do-cryptocurrency-exchanges-work/">crypto exchanges<\/strong><\/a> and <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//blockchain-transaction/">blockchain transactions<\/strong><\/a> on this Crypto 101 Handbook - check them out!<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Fiat to crypto: Wallet.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//crypto_to_fiat_03.jpg/" alt=\"Fiat to crypto: Wallet.\" width=\"1000\" height=\"743\" \/><\/p>\n<p>Now, another potential scenario might be that you&rsquo;re <strong>holding your cryptocurrencies in a wallet<\/strong> - a separate piece of software or hardware that has nothing to do with an exchange. If that&rsquo;s the case, all that you need to do is transfer your crypto from the wallet to a designated exchange platform of your choice, and sell it there. It&rsquo;s similar to transferring your money from a bank account to an exchange, in a fiat VS crypto way!<\/p>\n<p>Note, though, that there&rsquo;s a potential alternative route, as well - some wallets have built-in tools that would allow you to sell crypto, straight from the wallet! This depends on what wallet it is that you&rsquo;re using, but if your crypto storage supports a feature like this, it&rsquo;s definitely worth considering, since you skip out on a lot of steps!<\/p>\n<h2>Turning Crypto Into Fiat: The In-Person Meetup Method<\/h2>\n<p>Continuing on, up to this point, we&rsquo;ve discussed the <em>&ldquo;easy&rdquo;<\/em>, or <em>&ldquo;preferable&rdquo;<\/em> methods of turning crypto into cash - all you need is an exchange, and a valid withdrawal method, and you&rsquo;re set! Well, that&rsquo;s assuming that you&rsquo;ve already bought crypto, and know how exchanges work, in the first place - if that&rsquo;s still something you&rsquo;re feeling iffy about, make sure to read a <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//how-do-cryptocurrency-exchanges-work/">dedicated section<\/strong><\/a> about it before moving on whit this one!<\/p>\n<p>Now, there&rsquo;s another approach that you could take, as well - one that involves<strong> meeting other people, and selling your crypto in the real world<\/strong>.<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Fiat to crypto: The in-person meetup method.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//crypto_to_fiat_04.jpg/" alt=\"Fiat to crypto: The in-person meetup method.\" width=\"1000\" height=\"632\" \/><\/p>\n<p>Straight off the bat, let me just say - <strong>I do NOT recommend doing this<\/strong>, neither for fiat-to-crypto, nor crypto-to-fiat conversion purposes! With crypto transactions becoming simpler and faster to perform, on exchanges, there really is no major reason why you would go through all of that effort of meeting another individual, and performing the transaction this way.<\/p>\n<p>Well, maybe there is one reason - if you&rsquo;re really adamant about <strong>preserving your anonymity<\/strong>.<\/p>\n<p>Think about it this way - say, you&rsquo;ve never bought any crypto, and are not registered on any type of exchange platform. Yet, you already own cryptocurrency - maybe a friend sent it to you, or someone paid you for your awesome drawing in crypto tokens? Whatever the case might be, you&rsquo;re at a point where you want to turn your crypto into fiat money.<\/p>\n<p>However, you are really serious about your privacy, and thus, registering on a cryptocurrency exchange, and providing it with all of your sensitive information just doesn&rsquo;t sound appealing to you. In a situation like this, your only real other option is to find a potential buyer from your area, meet them, and make the transaction.<\/p>\n<p>If, for any reason, you do decide that an in-person transaction is <em>&ldquo;the way to go&rdquo;<\/em>, there are a few things that you need to be aware of. First and foremost, <strong>never go alone<\/strong> - always bring at least one other friend, to keep you company and provide that extra safety.<\/p>\n<p>Secondly, <strong>make sure to meet the buyer in a public place<\/strong>, like the mall or a coffee shop. This will make you both feel easier about the meeting, since there will be other people around.<\/p>\n<p>Lastly, if you&rsquo;re accepting cash for your crypto, you should <strong>carry a fake-money checking machine with you<\/strong>. This way, you&rsquo;ll be able to check the money on the spot, and won&rsquo;t need to worry about potentially being scammed.<\/p>\n<p>Let me reiterate, though - in-person crypto sales are a very specific, niche scenario that, in the vast majority of cases, isn&rsquo;t the recommended thing to do. Instead, you&rsquo;re much better off going the traditional, exchange route.<\/p>\n<h2>Don&rsquo;t Forget the Taxes!<\/h2>\n<p>Now that you know how to turn crypto into fiat money, it would be very irresponsible of me to let you go without talking about one last thing. And, it&rsquo;s actually a topic that everyone in the crypto space are really excited about - taxes!<\/p>\n<p><img style=\"display: block; margin-left: auto; margin-right: auto;\" title=\"Fiat to crypto: Don't forget taxes.\" src=https://www.bitdegree.org/"https:////assets.bitdegree.org//crypto//storage//optimized//crypto_to_fiat_05.jpg/" alt=\"Fiat to crypto: Don't forget taxes.\" width=\"1000\" height=\"504\" \/><\/p>\n<p>Well, maybe it&rsquo;s not the most exciting topic that one might think of, but it&rsquo;s definitely a huge and important point that needs to be considered, when you&rsquo;re dealing with buying and selling crypto.<\/p>\n<p>No matter if you sell cryptocurrencies on an exchange, directly from your wallet, in person, or in any other way imaginable, <strong>your sale will be considered a taxable event<\/strong>. Thus, you should take some time out of your day, make a cup of coffee, sit down, and really look into the specifics of crypto taxation in your country.<\/p>\n<p>What I&rsquo;m getting at is simple - while you might have made an awesome profit from your initial crypto investment, part of that profit will likely need to be paid, as taxes! Of course, when you&rsquo;re performing an in-person transaction, things become much more complicated - you need to declare the sale yourself, and there&rsquo;s no exchange to pull the data from, at the end of the tax year.<\/p>\n<p>Just one more reason to stay safe, and only buy and sell crypto on reliable, trusted cryptocurrency exchange platforms!<\/p>\n<p>Now, if you&rsquo;re really concerned about the crypto taxes, and are looking for every possible legal solution of how to minimize them, <strong>I highly recommend checking out <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//how-to-avoid-crypto-taxes/">this section<\/a> on how to avoid cryptocurrency taxes - legally, of course<\/strong>! Maybe you&rsquo;ll be eligible for a tax reduction, or perhaps there&rsquo;s some other, specific law in your region, that will allow you to save a lot of money on taxes?<\/p>\n<p>That being said, it's about all the basic information you need to know as a crypto beginner. Just remember - <strong>the best way to convert crypto to fiat is via a trusted, reliable exchange platform<\/strong>.<\/p>","youtube_video":{"id":45,"channel_id":1,"sort":51,"video_title":"4 Ways to Turn Fiat to Crypto VS Crypto to Fiat (Easily Explained)","description":"Whether you\u2019re a cryptocurrency trader or investor who has turned fiat to crypto, there comes a time when it\u2019s a good idea to take some profits, and cash out. However, in order to do so, you need to be aware of how to turn crypto into fiat money, in a fast and safe manner. \n\nIn this video, I am going to tell you how to do just that. We\u2019ll talk about the best ways to turn crypto to fiat, both when it comes to traditional cryptocurrency exchanges, as well as some other, alternative methods.\n\nHow often do you take profits from your crypto investments? Share you experiences, in the comments below!\n\nVideo Time Table:\n\n0:00 Intro to Turning Fiat to Crypto & Crypto to Fiat\n0:55 Using a Crypto Exchange\n4:35 In-Person Transaction Method\n6:26 Crypto to Fiat & Fiat to Crypto: Taxes\n7:42 Wrap-up: Turning Fiat to Crypto & Crypto to Fiat\n\nGet Quick Crypto Tips on Twitter - Follow:\nhttps:\/\/twitter.com\/crypto_xplained\n\n#FiatToCrypto #FiatVsCrypto #CryptoToFiat","video_id":"AiQfGSEhxmg","duration":485,"view_count":389,"thumbnail_url":"https:\/\/assets.bitdegree.org\/youtube\/crypto-finally-explained\/4-ways-to-turn-fiat-to-crypto-vs-crypto-to-fiat-easily-explained.jpg","thumbnail_width":1280,"thumbnail_height":720,"published_at":"2022-12-29T16:08:37.000000Z","created_at":"2022-12-29T23:00:03.000000Z","updated_at":"2024-01-09T23:00:04.000000Z","channel":{"id":1,"title":"CryptoFinallyExplained","channel_id":"UCOryUY0yxC08eJtK23mNgiA","main_playlist_id":"UUOryUY0yxC08eJtK23mNgiA"}},"featured_image":{"id":3074,"uuid":"7d379779-fcbc-4b5a-a13a-e8f72c8da919","name":"fiat-to-crypto-featured-image.jpg","url":"https:\/\/assets.bitdegree.org\/crypto\/storage\/optimized\/fiat-to-crypto-featured-image.jpg","path":"crypto\/storage\/optimized\/fiat-to-crypto-featured-image.jpg","mime_type":"image\/jpeg","disk":"digitalOceanSpaces","size":45073,"width":768,"height":478,"custom_properties":null,"created_at":"2023-06-19T06:58:39.000000Z","updated_at":"2023-06-19T06:58:39.000000Z"}}" :chapter-list="[{"id":1,"title":"Blockchain","slug":"blockchain","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-blockchain.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/blockchain-101.jpg","rating":100,"sections":[{"chapter_id":1,"order":1,"slug":"what-is-blockchain","title":"What is the Blockchain?","status":"published","modified_content":null},{"chapter_id":1,"order":2,"slug":"decentralized-blockchain","title":"Anonymous & Decentralized Blockchains: The Cornerstone of Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":3,"slug":"blockchain-transaction","title":"What is a Blockchain Transaction in Crypto?","status":"published","modified_content":null},{"chapter_id":1,"order":4,"slug":"crypto-fees","title":"The Different Types of Crypto Fees Explained","status":"published","modified_content":null},{"chapter_id":1,"order":5,"slug":"what-is-bridging-in-crypto","title":"The Key Notion Behind the Concept of Bridging in Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":6,"slug":"types-of-blockchains","title":"Different Types of Blockchains: What to Look Out For?","status":"published","modified_content":null}]},{"id":2,"title":"Cryptocurrencies","slug":"cryptocurrencies","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-cryptocurrencies.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/cryptocurrencies-101.jpg","rating":100,"sections":[{"chapter_id":2,"order":1,"slug":"what-is-a-cryptocurrency","title":"What is a Cryptocurrency?","status":"published","modified_content":null},{"chapter_id":2,"order":2,"slug":"how-does-cryptocurrency-work","title":"How Does Cryptocurrency Work?","status":"published","modified_content":null},{"chapter_id":2,"order":3,"slug":"is-cryptocurrency-a-good-investment","title":"Is Cryptocurrency a Good Investment? The Pros & Cons","status":"published","modified_content":null},{"chapter_id":2,"order":4,"slug":"coin-vs-token","title":"Coin VS Token: How Do They Differ?","status":"published","modified_content":null},{"chapter_id":2,"order":5,"slug":"what-are-stablecoins","title":"What are Stablecoins, Altcoins & Wrapped Coins?","status":"published","modified_content":null},{"chapter_id":2,"order":6,"slug":"what-is-a-bitcoin","title":"Bitcoin: the Pioneer of the Crypto World","status":"published","modified_content":null},{"chapter_id":2,"order":7,"slug":"what-is-ethereum","title":"The Ultimate Blockchain for dApp Creation: Ethereum","status":"published","modified_content":null},{"chapter_id":2,"order":8,"slug":"what-is-cardano-in-crypto","title":"What is Cardano and What is It Used For?","status":"published","modified_content":null},{"chapter_id":2,"order":9,"slug":"what-is-shiba-inu-coin","title":"Shiba Inu: the Dogecoin Killer","status":"published","modified_content":null},{"chapter_id":2,"order":10,"slug":"what-is-solana-in-crypto","title":"Is Solana an Improved Version of Ethereum?","status":"published","modified_content":null},{"chapter_id":2,"order":11,"slug":"what-is-polkadot-in-crypto","title":"The Bridge Between Blockchains: Polkadot","status":"published","modified_content":null},{"chapter_id":2,"order":12,"slug":"what-is-polygon-in-crypto","title":"Polygon: the Essential Scaling Solution for Ethereum","status":"published","modified_content":null},{"chapter_id":2,"order":13,"slug":"what-is-luna-crypto","title":"The Bumpy Road of Terra (LUNA)","status":"published","modified_content":null},{"chapter_id":2,"order":14,"slug":"what-is-fantom-crypto","title":"Is Fantom (FTM) Yet Another Ethereum Killer?","status":"published","modified_content":null},{"chapter_id":2,"order":15,"slug":"what-is-aave-crypto","title":"Aave: Crypto Lending Trailblazer","status":"published","modified_content":null},{"chapter_id":2,"order":16,"slug":"what-is-algorand-crypto","title":"Did Algorand Truly Solve the Blockchain Trilemma?","status":"published","modified_content":null},{"chapter_id":2,"order":17,"slug":"what-is-olympus-dao","title":"Does Olympus DAO Have Anything to Do With Mythology?","status":"published","modified_content":null},{"chapter_id":2,"order":18,"slug":"what-is-avax","title":"Is Avalanche Network (AVAX) Rightfully Called the Future of DeFi?","status":"published","modified_content":null},{"chapter_id":2,"order":19,"slug":"what-is-monero-coin","title":"Monero: Where Cryptocurrency Meets Cryptography","status":"published","modified_content":null},{"chapter_id":2,"order":20,"slug":"what-is-ripple-xrp","title":"Is Ripple \"it\" When it Comes to Cross-Border Transactions?","status":"published","modified_content":null},{"chapter_id":2,"order":21,"slug":"practical-use-of-cryptocurrencies","title":"The Practical Use of Crypto","status":"published","modified_content":null}]},{"id":3,"title":"Crypto Exchanges","slug":"crypto-exchanges","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-crypto-exchanges.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-exchanges-101.jpg","rating":80,"sections":[{"chapter_id":3,"order":1,"slug":"how-do-cryptocurrency-exchanges-work","title":"How do Cryptocurrency Exchanges Work?","status":"published","modified_content":null},{"chapter_id":3,"order":2,"slug":"dex-vs-cex","title":"DEX VS CEX: Two Sides of the Crypto Exchange Industry","status":"published","modified_content":null},{"chapter_id":3,"order":3,"slug":"crypto-day-trading","title":"Crypto Day Trading: The Difference Between Buying, Trading, and Swapping","status":"published","modified_content":null},{"chapter_id":3,"order":4,"slug":"kyc-crypto","title":"KYC & AML: The Key to Complying With Legal Industry Standards","status":"published","modified_content":null},{"chapter_id":3,"order":5,"slug":"how-to-buy-crypto","title":"From Fiat to Crypto: How to Buy Crypto for the First Time","status":"published","modified_content":null},{"chapter_id":3,"order":6,"slug":"fiat-to-crypto","title":"Taking Profits: Turning Crypto Into Fiat","status":"published","modified_content":null},{"chapter_id":3,"order":7,"slug":"how-to-use-crypto","title":"You\u2019ve Got Crypto: What Can You Do With It?","status":"published","modified_content":null}]},{"id":4,"title":"Crypto Wallets","slug":"crypto-wallets","updated":false,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-crypto-wallets.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-wallets-101.jpg","rating":80,"sections":[{"chapter_id":4,"order":1,"slug":"what-is-a-crypto-wallet","title":"What is a Crypto Wallet?","status":"published","modified_content":null},{"chapter_id":4,"order":2,"slug":"hot-wallet-vs-cold-wallet","title":"Hot Wallet VS Cold Wallet: Which One to Pick?","status":"published","modified_content":null},{"chapter_id":4,"order":3,"slug":"non-custodial-wallet","title":"What are Non-Custodial Crypto Wallets?","status":"published","modified_content":null},{"chapter_id":4,"order":4,"slug":"what-is-metamask","title":"Metamask: The Leading Non-Custodial Wallet","status":"published","modified_content":null},{"chapter_id":4,"order":37,"slug":"how-safe-is-cryptocurrency","title":"The Key Crypto Wallet Safety Practices: How Safe Can Crypto Be?","status":"published","modified_content":null}]},{"id":5,"title":"NFTs","slug":"nfts","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-nfts.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/nfts-101.jpg","rating":100,"sections":[{"chapter_id":5,"order":2,"slug":"how-to-trade-nfts","title":"NFT Trading: The Ins and Outs","status":"published","modified_content":null},{"chapter_id":5,"order":3,"slug":"buying-nft","title":"Tips and Tricks of Choosing the Right NFTs","status":"published","modified_content":null},{"chapter_id":5,"order":4,"slug":"how-to-store-nft","title":"How to Store NFTs: Best Practices","status":"published","modified_content":null},{"chapter_id":5,"order":5,"slug":"how-to-create-an-nft","title":"How to Create Your Own NFTs?","status":"published","modified_content":null},{"chapter_id":5,"order":6,"slug":"how-to-make-passive-money-with-nft","title":"Making Passive Money with NFTs","status":"published","modified_content":null}]},{"id":6,"title":"dApps & Defi","slug":"dapps-and-defi","updated":true,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-dapps.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/dapps-defi-101.jpg","rating":80,"sections":[{"chapter_id":6,"order":1,"slug":"what-are-nfts","title":"What are Non-Fungible Tokens (NFTs)?","status":"published","modified_content":null},{"chapter_id":6,"order":1,"slug":"what-is-defi","title":"What is Decentralized Finance (DeFi)?","status":"published","modified_content":null},{"chapter_id":6,"order":2,"slug":"what-is-defi-2-0","title":"DeFi 2.0: The New Version of Decentralized Finance","status":"published","modified_content":null},{"chapter_id":6,"order":3,"slug":"what-are-dapps-in-crypto","title":"What Are dApps and How Do They Work?","status":"published","modified_content":null},{"chapter_id":6,"order":4,"slug":"defi-dapps","title":"Picking the Right dApps: Dos and Don'ts","status":"published","modified_content":null},{"chapter_id":6,"order":5,"slug":"what-is-web-3-0","title":"Web 3.0: The Future of the Internet","status":"published","modified_content":null},{"chapter_id":6,"order":6,"slug":"what-are-smart-contracts","title":"What is the Core Purpose of Smart Contracts?","status":"published","modified_content":null},{"chapter_id":6,"order":7,"slug":"what-is-a-dao-in-crypto","title":"The Notion of a Decentralized Autonomous Ogranization (DAO)","status":"published","modified_content":null},{"chapter_id":6,"order":8,"slug":"what-is-staking-in-crypto","title":"What is the Goal of Staking Crypto Assets?","status":"published","modified_content":null},{"chapter_id":6,"order":9,"slug":"what-is-liquidity-pool-in-crypto","title":"What is a Liquidity Pool and How Does It Work?","status":"published","modified_content":null},{"chapter_id":6,"order":10,"slug":"what-is-automated-market-maker","title":"Automated Market Maker: the Cornerstone of the Decentralized Crypto Exchange Industry","status":"published","modified_content":null},{"chapter_id":6,"order":11,"slug":"what-is-yield-farming-in-crypto","title":"The Main Yield Farming Techniques","status":"published","modified_content":null},{"chapter_id":6,"order":12,"slug":"what-is-an-oracle-in-crypto","title":"Crypto Oracles: The Link Between Blockchain and Outside World Data","status":"published","modified_content":null},{"chapter_id":6,"order":13,"slug":"crypto-gambling","title":"The Peculiarities of Decentralized Crypto Gambling","status":"published","modified_content":null},{"chapter_id":6,"order":14,"slug":"what-is-the-metaverse","title":"Metaverse: A New Perception of Reality","status":"published","modified_content":null}]},{"id":7,"title":"Trading & Investing","slug":"trading-and-investing","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-crypto-trading.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-trading-101.jpg","rating":80,"sections":[{"chapter_id":7,"order":1,"slug":"where-to-trade-crypto","title":"Where Can You Trade Cryptocurrencies?","status":"published","modified_content":null},{"chapter_id":7,"order":2,"slug":"how-to-invest-in-crypto","title":"Investing in Crypto: What Investing Options Do You Have?","status":"published","modified_content":null},{"chapter_id":7,"order":3,"slug":"ico-vs-ido","title":"ICO vs IDO vs IEO: Which One is the One?","status":"published","modified_content":null},{"chapter_id":7,"order":4,"slug":"what-is-an-airdrop","title":"What are Crypto Airdrops and How to Get Them?","status":"published","modified_content":null},{"chapter_id":7,"order":5,"slug":"how-to-get-free-crypto","title":"How to Get Free Crypto Assets?","status":"published","modified_content":null},{"chapter_id":7,"order":6,"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main Principles","status":"published","modified_content":null},{"chapter_id":7,"order":7,"slug":"what-is-a-perpetual-contract","title":"Perpetual Contracts: Futures Contracts Without an Expiration Date","status":"published","modified_content":null},{"chapter_id":7,"order":8,"slug":"what-is-fud","title":"What is FUD: How to Use It to Your Advantage While Investing in Crypto?","status":"published","modified_content":null},{"chapter_id":7,"order":9,"slug":"investing-in-cryptocurrency","title":"Investing in Cryptocurrency: How to Manage Your Risks?","status":"published","modified_content":null},{"chapter_id":7,"order":10,"slug":"what-is-a-rug-pull-in-crypto","title":"What is a Rug Pull in Crypto?","status":"published","modified_content":null},{"chapter_id":7,"order":11,"slug":"how-to-avoid-rug-pulls-in-crypto","title":"How to Spot and Avoid Rug Pulls?","status":"published","modified_content":null},{"chapter_id":7,"order":12,"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto Taxes","status":"published","modified_content":null}]},{"id":8,"title":"Crypto Analysis","slug":"crypto-analysis","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-crypto-analysis.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-analysis-101.jpg","rating":100,"sections":[{"chapter_id":8,"order":1,"slug":"what-is-bullish-and-bearish","title":"Bearish and Bullish Markets: Do They Matter?","status":"published","modified_content":null},{"chapter_id":8,"order":2,"slug":"best-technical-analysis-indicators-for-crypto","title":"5 Best Crypto Technical Analysis Indicators You Must Know About","status":"published","modified_content":null},{"chapter_id":8,"order":3,"slug":"what-is-candlesticks","title":"Technical Analysis: What are Candlesticks, Trendlines, and Patterns?","status":"published","modified_content":null},{"chapter_id":8,"order":4,"slug":"how-to-track-new-crypto-coins","title":"Crypto Tracking: How to Track Your Favorite Coins & Tokens?","status":"published","modified_content":null},{"chapter_id":8,"order":5,"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","status":"published","modified_content":null},{"chapter_id":8,"order":46,"slug":"portfolio-diversification-definition","title":"Portfolio Diversification: The Whats, the Whys, and the Hows","status":"published","modified_content":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-crypto-mining.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-mining-101.jpg","rating":80,"sections":[{"chapter_id":9,"order":1,"slug":"what-is-crypto-mining","title":"Crypto Mining: What It is and How Does It Work?","status":"published","modified_content":null},{"chapter_id":9,"order":2,"slug":"what-is-a-mining-pool","title":"Mining Pools: Is Collective Mining Better Than Solo Mining?","status":"published","modified_content":null},{"chapter_id":9,"order":3,"slug":"what-is-staking-crypto","title":"An Advanced Look into What is Staking Crypto","status":"published","modified_content":null},{"chapter_id":9,"order":4,"slug":"what-is-proof-of-stake-vs-proof-of-work","title":"Proof-of-Work VS Proof-of-Stake: The Differences That Matter","status":"published","modified_content":null},{"chapter_id":9,"order":5,"slug":"what-is-crypto-mining-rig","title":"Crypto Mining Rig: What It is and How to Build One?","status":"published","modified_content":null}]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"crypto\/assets\/crypto-book\/chapters\/crypto-101-glossary.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}]" current-chapter="crypto-exchanges" current-section="fiat-to-crypto">