In the article How to cash Ethereum out. Part 1 we touched upon several the most trusted methods for converting crypto to cash. It’s not a surprise that there are much more such payments, and some of them we would like to recommend in the second part of the article.
Furthermore, we would like to catch your attention for a minute more if you use ecoPayz in crypto operations, such as Bitcoins and check the benefits of it. If you are not using it, so it would be good to know what is ecoPayz and how you can get some edge with it.
Bitfinex is a highly-trusted crypto exchange platform that was created in 2012. The platform offers users state-of-the-art tools for trading, great customer service, and innovative features.
There is also a Bitfinex app, which allows you to seamlessly trade on the go. The app has the full functionality of its desktop counterpart. Like Kraken, Bitfinex uses a 30-day volume incentive for fees.
|EXECUTED IN THE LAST 30 DAYS (USD EQUIVALENT)||MAKER FEES||TAKER FEES|
|$0.00 or more traded||0.100%||0.200%|
|$500,000.00 or more traded||0.080%||0.200%|
|$1,000,000.00 or more traded||0.060%||0.200%|
|$2,500,000.00 or more traded||0.040%||0.200%|
|$5,000,000.00 or more traded||0.020%||0.200%|
The volume incentive actually goes up to $30 billion/month; for the full list of fees, head here.
Pros and Cons of Bitfinex
Using Bitfinex for your Ethereum trading needs has the following benefits:
- There are many payment options available
- The platform has been around for several years and is highly trusted
- There is no maximum withdrawal amount
The downsides are:
- The site was hacked in 2016
- The verification process is rigorous
How to Cash Out Ethereum With Bitfinex
After creating an account and providing verification documents, go to the platform’s Trading page and click on the currency pair you want (for instance, ETH/USD). You’ll be brought to an order form. Select the Exchange tab, specify whether you want a limit order or a market order, and the amount of ETH you want to sell. Click on the red Exchange Sell button – your funds will then be credited into your exchange wallet.
We’re finishing up our guide with our favorite way to cash out Ethereum – Trastra. We love this option because you can spend your ETH directly on a debit card. Just exchange funds with the app and then swipe your card! So, if you want the ultimate ease and convenience in converting Ethereum to real money, sign up for a Trastra account.
Pros and Cons of Trastra
Some of Trastra’s pros include:
- Spend ETH and other forms of crypto easily with a debit card
- You can create wallets for ETH, BTC, LTC, BCH, and XRP – and spend them all as cash
- Highly secure platform
And the main disadvantage is:
- You can only spend euro with the card
How to Convert Ethereum to Cash With Tastra
To use Trastra to spend Ethereum as cash, you’ll first need to sign up for an account. Click on the sign-up button, which is located on Trasta’s main page – just look to the upper right-hand corner. On the sign-up page, input your full name and your email address. Create a secure password and then complete the CAPTCHA check. Click the sign-up button.
Trastra will send a confirmation email to your account; if you don’t see it, be sure to check your spam folder. Follow the verification link within the email to activate your account. The link will only be active for 1 hour – if the link expires, you will need to either contact Trastra support or register a different email address.
After clicking the verification link, you may create 1-5 TRASTRA cryptocurrency wallets. If you want to be able to use the Trastra payment card, you must go through additional verification procedures.
Here’s what you’ll need to pass the 4-step verification process:
- Phone number check
- Provide Address
- Upload documents (1 form of ID and sometimes 1 proof of address)
Now that you have been verified, all Trastra features will be unlocked for your account. You can now order your Trastra Payment Card! If you sign up for Trastra through Baxity, the card will be completely free. But before you can spend any crypto, you’ll need to top up your crypto wallets on Trastra.
To add funds to your Trastra Crypto Wallets, you’ll follow this procedure:
- First, log in to Trastra and look up to the main menu bar. Click the “Deposit Funds” button.
- Choose the crypto you want to deposit (in this case, you would choose ETH).
- Press the wallet option. Trastra will give you a QR code and a wallet address. Go to your external cryptocurrency wallet and either scan the QR code or enter the Trastra ETH address.
- Send funds to the generated address – your cryptocurrency will be directly transferred from your external ETH wallet to the Trastra one. As soon as the network receives confirmation, ETH will be added to your balance.
So now your Trastra Ethereum wallet is all topped up. Now, you can convert ETH to cash and spend it with your payment card. The main things to know about the Trastra payment card are that it works internationally – both online and offline. You can use it wherever VISA is accepted, making it an ideal card for traveling.
You can top up the card instantly by converting crypto to EUR on the Trastra website or application. The card can also be used to withdraw funds from ATMs. Currently, Trastra payment cards are delivered to the following countries:
Are you ready to order a Trastra card? To do so, access your Trastra account dashboard and select the Order Card option under the Cards tab.
You’ll be taken to another page, which will give you an overview of the card’s main fees.
Keep in mind, though, that these are not all of the fees. These are the ones not included in the summary:
|Crypto Exchange / Card load fee||€0.00|
|Offline card purchase (€)||€0.00|
|Online card purchase (€)||€0.00|
|non-Euro card purchase (online, offline)||3% of transaction value|
|Internal Card to Card transfers||€0.20|
|ATM Balance Inquiry||€0.35|
|ATM PIN Change||€0.40|
|ATM € withdrawal||€2.25|
|ATM withdrawal non-€ or outside European Economic Area||€2.25 + 3%|
After you’ve reviewed the fees, click Next and double-check that your shipping address is still correct.
Click confirm. The shipping fee will be taken out of your account’s funds – make sure that you have enough to pay for it. To make things convenient, Trastra has included a Top Up button in the checkout process in case your crypto wallet has insufficient funds.
When you have enough funds in your account, click Confirm. You’ll receive your Trastra Payment Card in the next 7-10 business days. When you receive it, head to your Trastra dashboard and follow the instructions to activate it.
Now that you have your card and it’s set up, it’s time to load it with cash! Access your Trastra account and click the Exchange Funds button on the top of the screen. Choose the crypto wallet that you want to take crypto from (let’s say ETH).
Choose your Trastra Payment Card as the “Exchange To” option. Select the amount you want to convert to cash. Please note – the smallest amount you can currently convert is 27 EUR. Click the Top Up button, and the money will be transferred to your account. Now you can swipe your card and pay for things with real money!
FAQ About Trading ETH
If you have any lingering questions about Ethereum and the process of converting it to cash, we’ll try to clear them up here.
Can I use an independent trader?
If you don’t like any of the options listed above, there is always the possibility of working with independent traders. However, this can be a risky path to pursue due to potential scams. Be sure to do ample research before choosing an independent trader to work with.
What kind of crypto e-wallets are there?
There are 2 primary classifications of crypto e-wallets: hot and cold. In the simplest terms, a hot wallet is connected to the internet – so, they are ones that you own on exchanges like the ones mentioned above. Cold wallets are not connected to the internet, so they are typically more secure. However, they can be costly, and they often do not support as many types of cryptocurrency as hot wallets do.
If you are new to cryptocurrency trading, we would recommend using a hot wallet, because they are typically free, easily accessible, mobile-compatible, and simple to use.
All of these methods can be excellent ways to convert Ethereum to cash – but our favorite one is Trastra. We love how it gives you the option to spend the crypto from a debit card! Baxity has partnered with Trastra in order to get you the ideal conditions and benefits. By using our link to create a Trastra account, you will gain the following benefits:
- A free card
- Free crypto-to-card transfers
- Get a card without a bank account
So choose a service and start converting ETH to cash today! Which is your favorite service? Leave a comment and let us know.