A friend of mine has two and he wants to cash them out so he can put the money toward buying a house but he can't figure out how to actually get the money. Does anyone know how to do this?
I believe you need to move it to a bank account. They will take a fee from it. So say the coin is worth 60k right now, the bank will likely take 3-8% for the exchange plus the exchange with your wallet. You would end up getting something like 48k.
Yes, I do know how to cash out a bitcoin. The easiest way to do it is by heading over to Coinbase. Once you're there, they'll walk you through the process of converting your bitcoin into cash.
The process takes some time (about a week), and Coinbase will take a small percentage of the sale, but it's still by far the easiest way to cash out your bitcoins.
I was going to mention that. Coinbase is the easiest route outside of finding someone willing to buy them off you.
There are a lot of options online that offer different features and come with different fees. Coinbase seems to be the most popular one but they tend to have high fees.
I wish I had some to cash out! I had a friend telling me to buy some back in 2012 and I didn't listen. Had I just bought some, I would have so much money. It is a shame.
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