Lately, Bitcoin and other cryptocurrencies have been heard a lot. On many websites on the internet you can see tutorials on how to mine cryptocurrencies and earn money with them. But then, how to withdraw cryptocurrencies? How to turn these coins into cash? How to get them out of the “digital” world and make them become the role that we so chase every day? And that's what you'll learn in this article.
Before I start explaining how to withdraw cryptocurrencies, a short introduction to the subject for you who have fallen by parachute here and do not understand anything and do not know anything about cryptocurrencies. Briefly, cryptocurrencies are a type of virtual money that has a limited amount existing in the world. Like, for example, gold. One hour, there will be no more gold in nature to be mined. What will happen when that happens? We don't know, but given the demand and uses of gold, it could be much more valuable or not attractive to buyers.
Cryptocurrencies are a similar thing. For example, in relation to bitcoin, there are only 21 million units of this asset and only about 18,86 million Bitcoins are currently available to be extracted and traded. Sounds like a lot, but given the huge mining farms that pop up every day, that number can quickly run out. And what will happen when that happens? We do not know. But, we know how you can get yours right now if you want. So, let's go to the tutorial.
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- What are Cryptocurrencies?
- What are the Main Cryptocurrencies?
- How to Cash Out Cryptocurrencies?
- How to withdraw cryptocurrencies from Binance
- But Do I Really Need To Sell My Cryptocurrencies?
- Is It Worth Selling Cryptocurrencies?
- Quick FAQ
What are Cryptocurrencies?
A cryptocurrency is a digital currency, that is, it only exists on the internet, you cannot hold it in your hands, unlike other currencies such as the real, dollar or euro that can be converted into banknotes. It also stands out for not being controlled by any public or private body, those responsible for cryptocurrencies are the users themselves. But is it safe? Well, cryptocurrencies use the Encryption. It is an advanced security system with complicated and difficult to crack codes. So yes, it is safe.
Okay, and how do I get cryptocurrencies? There are two ways to get cryptocurrencies: buying or mining. Buying is the simplest option, as mining cryptocurrencies takes time and a good (and expensive) computer. There are several cryptocurrencies available on the networks, the most famous of which is Bitcoin. You've certainly heard that word around, Bitcoin was the first digital currency to emerge.
What are the Main Cryptocurrencies?
As everyone must have heard the term, Bitcoin (BTC) is the most well-known cryptocurrency, and is also the first to have been created, by a programmer (or programmers) who calls himself Satoshi Nakamoto. Not much is known about the real identity of the creator (or creators), but in 2011, two years after the creation of Bitcoin, he disconnected from the project and has since disappeared.
Nakamoto, contrary to what some say, did not invent the blockchain (technology where cryptocurrencies are found), nor did he name it, he was simply the first to insert coins into this network. Since then, many other cryptocurrencies have emerged, some more valuable and rarer than the others, but by mining cryptocurrencies you can find a wide variety of them (there are a total of more than five thousand cryptocurrencies available). Here are some of the most popular cryptocurrencies (besides Bitcoin):
After Bitcoin, probably the most famous cryptocurrency is Ethereum. Ethereum was made possible in 2014 through collective financing. Currently, Ethereum has been showing many highs in a row, a great appreciation, and experts say it may even surpass Bitcoin itself in market value. The price of Ethereum in reais is currently around 14 thousand.
A good way to earn some ETH is by playing the game Axie Infinity, whose transactions are done in ETH. You can learn about the game, its mechanics, its little monsters and understand everything about it on our website.
Ripple XRP (XRP)
Ripple, or XRP, was created in 2012. It calls itself a payment system, and is found on a private blockchain.
It is a somewhat controversial currency, it became the second cryptocurrency with the highest market value, and it is even accepted in several banks, but some doubts arose as to the origins and establishment of the currency, some processes have rolled over and nowadays it worth less than 10 reais.
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Bitcoin Cash (BCH)
Bitcoin Cash was created in 2017 from a spin-off from Bitcoin. Like Ripple, Bitcoin Cash calls itself a payment system. The main feature of this coin is to allow transactions in larger blocks. A Bitcoin Cash is worth R$4,8 thousand today. If you want to start investing and earning bitcoins in an easy way, get to know a list of 26 games to win Bitcoins and other cryptocurrencies.
Litecoin is a currency created shortly after Bitcoin, being very similar to BTC. It is one of the currencies with the highest volume of transactions in the market and has always been among the main cryptocurrencies (10 years since its creation). The main difference between Litecoin and Bitcoin is the faster transaction time, in addition to greater availability on the market (84 million versus 21 from BTC). A Litecoin is now worth around R $ 1,4.
Tether is considered a stablecoin, that is, a cryptocurrency created based on a physical currency. The base of the Tether is the dollar, which makes it less volatile than other cryptocurrencies, as its value will always be close to the value of the dollar. The value of the Tether is around five reais.
Polka dots (DOT)
It is a unique cryptocurrency that aims to provide interoperability between other blockchains. Its protocol is designed to connect blockchains with permission and without permission, to allow systems to work together under the “same roof”. The main component of Polkadot is its relay chain, which allows for the interoperability of multiple networks. It also allows parallel “parachains” or blockchains with their own native tokens for specific use cases.
What makes Polkadot different from Ethereum is that instead of just creating decentralized apps on Polkadot, developers can create their own blockchain and, at the same time, use the security that the Polkadot chain already has. With Ethereum, developers can create new blockchain, but they need to create their own security measures, which can leave new and smaller projects open to attack, because the bigger the blockchain, the more security it has. This concept in Polkadot is known as shared security.
Dogecoin, seen by some as the original “memecoin” caused a stir in 2021 when the currency's price soared. The coin, which uses an image of the shiba inu as its avatar, is accepted as a form of payment by some large companies, including most notably, SpaceX, a US aerospace vehicle manufacturer owned by Elon Musk, the CEO of Tesla Motors .
Dogecoin was created by two software engineers, Billy Markus and Jackson Palmer, in 2013. Markus and Palmer allegedly created the coin as a joke, commenting on wild speculation in the cryptocurrency market.
DOGE's price hit an all-time record of $0,71 during the week Elon Musk was scheduled to appear on Saturday Night Live. As of November 2021, Dogecoin's market capitalization was $29,2 billion and a DOGE was valued at about $0,22, making it the tenth largest cryptocurrency.
How to Cash Out Cryptocurrencies?
Enough explanations, let's get straight to the point: I want to earn physical money from my cryptocurrencies, how do I do that? The answer, of course, is very simple: sell them.
Important! Before selling your cryptocurrencies, keep an eye on price from them. Because they are digital and limited currencies, the value of a cryptocurrency fluctuates a lot, and you need to keep an eye out to ensure the highest possible gain. To know the price of my cryptocurrency, just consult in a converter like this one, which supports several types of cryptocurrencies, and converts directly to the value in reais.
Now is the time! You kept an eye on the price of your cryptocurrency, and found the right time to sell it. How to proceed then?
First of all, you need to deposit them in a wallet. See our text on best Bitcoin wallets. In them, you will be able to deposit your cryptocurrencies and maintain control over them.
To sell / withdraw your cryptocurrencies, you will need an exchange account, such as Foxbit, Bitcoin Trade, Binance and the Bitcoin Market. An exchange is like an exchange office, where you can exchange your cryptocurrencies for reais. In addition, on these sites, you can make the purchase of cryptocurrencies using the real, as a form of investment.
Creating an account is free and very easy. You will need to enter personal data such as social security number and date of birth. In Bitcoin Trade and Bitcoin Market it is even possible to create an account as a legal entity, informing your CNPJ instead of the CPF.
After creating your account, just find the option "sell" on the website or application first. You can then sell your cryptocurrencies and convert them to reais (BRL). With a balance in reais, there you can make your withdrawal.
But be aware: each exchange will charge fees for the withdrawal to be made.
How to withdraw cryptocurrencies from Binance
The withdrawal process at the brokerage Binance it is quite simple, although many people have doubts. We will show you a step-by-step how to do this on the broker's website.
Please click "Portfolio" → "Portfolio Summary"
2. Select "To withdraw"
3. Select "Money", after BRL in Currency and "Bank transfer"
4. Enter the desired withdrawal amount, your mobile number and click "Continue"
5. Enter your bank account details and click "Confirm the Withdrawal"
6. Confirm the information and click on "Confirm"
Attention: The bank account that will receive the withdrawal must have the same CPF that is in your Binance.com account. Your cashout orders will be processed upon creation and within banking hours. If you create a withdrawal order after bank hours, it will be processed on the next business day from 8:XNUMX am.
7. Complete the requested checks and click on "Submit"
8. Click on "View History" to confirm that the withdrawal was successful
In addition to the fees, you will have a withdrawal limit, as well as a minimum transaction amount (as you can also see in the image). To increase your limit and in some cases release the withdrawal, you will need to verify the account, sending documents such as ID and proof of address, in addition to bank details linked to the CPF of the holder.
There is also the possibility to withdraw your cryptocurrencies in reais through the Capitual bank. Capitual is a digital bank, and the first crypto bank available to Brazilians. Through Capitual, it is possible to store your cryptocurrencies, and make payments and transactions with them (in addition to also being able to deposit common currencies, such as real and dollar, and even gold).
The number of cryptocurrencies that Capitual accepts is still small: Bitcoin, Binance USD, Dash, Ethereum, Litecoin, Tether and Dai. But, through a partnership with TecBan, it became possible to withdraw these coins through Banco24Horas, making the conversion automatically. It is also possible to make withdrawals in dollars, pounds sterling and euros.
Capitual also has a partnership with Binance.
But Do I Really Need To Sell My Cryptocurrencies?
With the growing popularity of cryptocurrencies, several places are already accepting them as a form of payment, including in physical stores. The tendency for this is only of growth and soon it will be very easy to make your transactions with cryptocurrencies. Through the internet, it is already common to be able to make your payments using digital currencies.
Everything will depend on what your goals are. If you bought cryptocurrencies for the purpose of making an investment and making money on them, then yes, you will need to sell them to guarantee your cash.
Is It Worth Selling Cryptocurrencies?
To be worthwhile, as already said, it is necessary to keep an eye on the fluctuation in the value of the cryptocurrency in question. Also calculate the rates well, in order to know your profit margin in the business. After all, buying and selling cryptocurrencies is nothing more than a form of investment, like the stock exchange. And unfortunately, in order to spend on the market, it is still necessary to pay in reais.
Therefore, the most important of all is to observe at what value you bought your currency, and for what value you will sell it. The cryptocurrency market, unlike the Stock Exchange, does not have an opening and closing time, it works 24/7: 24 hours a day, 7 days a week.
This is also why there is such a fluctuation of values, in addition to being something digital, fluid. And on top of that, cryptocurrencies are not like ordinary currencies, you can simply ask to print more bills, they are finite, which also contributes to their high values.
Like Bitcoin, for example, it is estimated that all of its units will be mined by 2041. This does not mean that in 2041 Bitcoin will end, but rather that there will be no more units available to be mined. In the end, the trend for cryptocurrencies is one of appreciation and growth over time, even though they are a limited resource, so it is definitely worth investing in these digital currencies.
What are Cryptocurrencies?
A cryptocurrency is a digital currency, that is, it only exists on the internet, it is not possible to take it in your hands, unlike other currencies such as the real, dollar or euro that can be converted into banknotes. It also stands out for not being controlled by any public or private body, the people responsible for the cryptocurrencies are the users themselves.
What are the Main Cryptocurrencies?
The main ones are Bitcoin (BTC), Ethereum (ETH), Ripple XRP (XRP), Bitcoin Cash (BCH), Litecoin (LTC) and Tether (USDT).
How to Cash Out Cryptocurrencies?
First of all, you need to deposit them in a wallet. In them, you will be able to deposit your cryptocurrencies and maintain control over them.
To sell/withdraw your cryptocurrencies, you will need an exchange account. An exchange is like an exchange house, where you can exchange your cryptocurrencies for reais.
Is It Worth Selling Cryptocurrencies?
It depends. Keep an eye on the cryptocurrency exchange rate and also the rates, in order to know what your profit margin is in the business.
How to transfer bitcoins to bank account?
The safest way for you to transform its cryptocurrency in reais is through the brokers that serve as "exchange houses" so that you can exchange your bitcoin for reais.
Now, leave it in the comments if you were able to follow our tips to get your cryptocurrencies. Are you going to invest in them? Tell us and enjoy to read more about criptomoedas on our website.