How do I exchange Bitcoin payments into my local currency?

Note: Since it offers fast, reliable, and low-fee global transactions, we recommend accepting Bitcoin Cash (BCH) payments over other digital currencies like Bitcoin Core (BTC). As such, our guides focus specifically on BCH payments for businesses.

How do I exchange Bitcoin payments into my local currency?

Through your payment gateway or point-of-sale app

  • If you’d prefer your customers’ BCH payments to be automatically converted into your local currency before you receive it, this can be done.

  • Simply choose a payment gateway (online businesses) or point-of-sale app (in-store businesses) that offers this service, such as Bitpay.

  • The service provider will receive the BCH paid by your customers and then deposit the equivalent amount of your chosen currency in your business bank account, usually on the next working day.

  • There is a small charge for this service which will be deduced from the payment before you receive it.

Through a cryptocurrency exchange

  • If you’re using a payment gateway or point-of-sale app that sends your customers’ BCH payments directly to your digital wallet, you can convert it yourself through a trusted cryptocurrency exchange.

  • You can either exchange it for a fiat currency (e.g. USD, GBP) or for another cryptocurrency, such as Bitcoin Core (BTC) or Ethereum (ETH).

  • To convert the BCH into your a fiat currency you’ll need to use an exchange that supports fiat-to-cryptocurrency exchanges, such as Coinbase.

  • Create an account and send the BCH from your digital wallet into the web wallet on your cryptocurrency exchange account.

  • Follow the instructions provided by the exchange to sell your BCH through their platform.

  • The exchange will then buy your BCH and send payment in your chosen currency to your bank account, minus the fee that they charge for this service.

Through a trading platform

  • You can also sell the BCH in your digital wallet through a peer-to-peer trading platform, such as Local.Bitcoin.com.

  • Create an account and list the amount of BCH you want to sell, as well as which payment type you’d like to accept.

  • This can include in-person cash payments or online payments such as bank transfers.

  • You’ll send the BCH from your digital wallet to a secure blind escrow account and, once you’ve received the agreed payment from the buyer, the BCH will then be released and sent to their wallet.

  • Fees are significantly lower on these trading platforms, meaning you get to keep more of the money you earn.

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