We’re thrilled to announce that Kraken now supports withdrawals to Taproot (Bech32m) Bitcoin addresses! Taproot is an upgrade to the Bitcoin protocol that aims to improve the privacy and efficiency of the world’s first and largest cryptocurrency. Taproot included three proposals — Schnorr, Taproot, and…
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But First: Explore Other Non-Selling Alternatives.
With crypto becoming more prominent day by day, there are a lot of ways for you to pay for your transactions using the crypto you have. Ask yourself the following questions:
“Will I sell Bitcoin into cash to protect myself from the price fluctuations?”
If yes, then don’t sell immediately. Explore converting your crypto into stablecoins such as BUSD. Using stablecoins protects your cryptos' fiat valuation without needing to cash out and incurring fees in the process.
“Is there a way for me to pay for my transactions using crypto?”
If yes, then we suggest opting for those methods. Most of the time, opting for crypto payments can end up costing you less than going through the hassle of converting crypto into fiat.
One great way to use crypto to pay for your expenses is the Binance Card, which allows you to use the crypto on your Binance account to pay for your bills anywhere in the world. The card is now available in many countries in Europe, with more areas to follow soon. Get one now, and you may not need to cash out for long.
Now, if after those questions, you still need to convert crypto into your local currency, then we’re here to help you regardless.
Sell Bitcoin into Cash on Binance’s Buy and Sell Crypto Page
For a streamlined manner of selling Bitcoin and turning that into cash, the Binance Cash Gateway offers a simplified and secure way for you to directly convert BTC into USD, EUR, and other currencies you may need at the moment.
Convert Bitcoin into Cash with P2P Trading
Sell Bitcoin directly to other Binance users to exchange them for your local fiat currency. Browse a variety of Bitcoin listings to shop for the best offers on Bitcoin from other users. To place an order, you must first place your Bitcoin (or other cryptocurrencies) into the P2P wallet portion of your account.
Trade Your Bitcoin for Fiat and Withdraw Them From Your Account
Over the past few months, we’ve launched support for the storage of fiat currencies like Euro (EUR), Brazilian reais (BRL), Australian dollar (AUD), British pound (GBP), and the Turkish lira (TRY) on your Binance account. If you need to sell your Bitcoin into any of the following supported fiat currencies, all you need to do is to sell Bitcoin in the corresponding trading pair, then withdraw the fiat currency you earned from that transaction.