How to Trade Your Cryptocurrency (Bitcoin, Ethereum etc.) For Cash!

Key Takeaways

hey guys welcome back to another youtube video in today's video i'm gonna be showing you how you can trade your coins so aetherium bitcoin litecoin neo all those different coins for fiat currency and if you don't know fiat currency is just canadian dollars a US dollars things that you can actually use right now in the real world so on my last video i did how to mine aetherium or that was a few videos back and someone asked the question well I have all this aetherium so how can I actually get it into real currency that I can spend so that was really good questions so that's why I'm doing a video here if you guys have any questions just leave a comment down below and I'll be sure to make a video about that alright so what we need to do if we're gonna trade our coins is we need to go on something called an exchange now there's a bunch of different exchanges this one that I'm showing right now works for Canadian and US dollars so that's why I'm gonna be doing this one right now as I live in Canada so I want to show how you can get Canadian dollars because a lot of them are just US dollar exchanges alright so this is called quadric ax CX at the top I'll put the link in the description so go over here and make an account and from there then we can trade our coins so say for example you want to trade aetherium so this this exchange only trades Bitcoin aetherium and litecoin the other one that I'm gonna show later will do all different kinds of coins but it's a little more complicated to get your money so just listen for this one first so if you have F what you're gonna want to do is you're gonna want to send all your F to a wallet on this exchange so you can click fund account on under F and then it'll give you a wallet address right here so from your theory and wallet wherever it might be you're gonna put all your theorem or whatever amount you want to send and you're gonna send it to this address now once you send it you should see under here it says pending it'll say like pending 0.5 aetherium it would however much you're sending and then after a few minutes once the transaction has been confirmed you'll see your balance up here so once you have a balance it's really simple all you have to do is go ahead and click on trade and then once you hit on trade you can select your option on top right here so in this case we're gonna want to trade aetherium for can dollars which I already have selected if you want to do it for US dollars then you would have had to set up a u.s. account when you did it and then you could trade for US dollars so you're gonna put in your f so say you have 0.5 F you would type 0.5 it'll tell you how much it's worth in Canadian dollars and then you go ahead and you click sell now obviously I don't have any right now so it's not gonna work now once you do that you should see your canadian dollar balance will now be equal to well in this case it was two hundred thirteen dollars so once you do once you see that balance you can go ahead and click withdraw now you're gonna have to set up a bank account here so especially the way that I like to do it is just go direct deposit into your bank account so you just have to find your transit number your branch or institution if you're in Canada and then the account number so you can either do cash delivery all these other different options it doesn't really matter which one you do I usually just go for the direct bank transfer I've done it five times so far on this website and everything's gone fine it's taken less than six days usually so you can be sure that that's gonna work for you now there is a minimum amount all of these accept the voucher which I wouldn't bother using which is $50 so just make sure if you're trading you're gonna have at least $50 worth otherwise you're just gonna have to wait until you get that amount before you can send it to your bank account so then you would go ahead and you would click select and then you have to type in your information so in this case you type in your bank whatever one it might be and then the address account number and so on and then your transaction pin which you will set up when you create an account on this website so go ahead and then hit submit it should send you an email saying that things are gonna be going through and so on and then you can check your bank account every few days just to see if it's come in so that's the first way that you can trade your coins for actual money and this is the way that I do it just on quadric ocx because it's one of the only Canadian exchanges alright so now I'm gonna show you say you have a different coin you don't have Bitcoin you don't have a theorem you don't have like coin you have something else now this is where it gets a little complicated especially if you're in Canada so for example here I have 26 nav corn this is the exchange bit tricks which is a different exchange it has all the different alt coins on it and it's really to buy a bunch of different coins here because you can use Bitcoin as well you're gonna go ahead and just go to Bitcoin markets and then what you're gonna want to do sorry not Bitcoin markets you're gonna want to type in the name of your currency that you have so for example if we have neo which I have right here you type in neo in the search bar up here neo would come up and then you click on the little plus icon so this is just under the wallet stop by the way the Bitcoin wallets up here you're gonna click on the plus icon and then it should pop up a thing loading up your address so just wait for that to load up and then that's gonna load up your neo address so once that is loaded up then you can just copy that address so mine hasn't loaded up yet I don't know what's going on right now but just pretend it's there you're gonna copy that address and then again you're gonna send all your neo to that address from your wallet now once you're here you can either set up for dollar accounts like this if you want to so you can set up like a bank account on the website usually what I do just because I'm pretty sure I haven't tried though that this is only for American dollars or Chinese dollars is I just trade it for Bitcoin so if I just go to the Bitcoin markets and I go neo and then I would just go to sell here I would type in the max and then price usually you just do the bid or the last price and then you hit sell and then what would happen there is then you can uncheck your Bitcoin wallet so here you go BTC is that's the tag for Bitcoin oops not NVC BTC and then it should show up in your wallet right here where you can then click the minus sign minus sign again and then you can click withdraw and send it to the address of this quadrakill thing here so you click fund account it would give you the address here you would copy this address paste it into this bar right here and then you could send it over to quadriga where you could then trade it the way I showed you before for u.s. or Canadian dollars so yeah I know I went a little bit fast but pretty much that's the way that you can actually trade your coins for real money they do not make it extremely easy to so you have to go on exchanges to do it so like I showed you can use either Quad Rica here or you can use bit tricks on bit tricks here I'm pretty sure you can also go to a bank account but I haven't tried it so usually I just trade it for Bitcoin and then send my Bitcoin here where I can then trade it for Canadian dollars now there is a thing to keep in mind here you're gonna have to pay fees when you're sending all of these things so when you're sending your knee or your theorem you are gonna pay small fees so if you're gonna be doing this a lot of times maybe just wait until you have a large amount and sell that one so you're not getting you're not paying all those fees because they do add up to a little bit of money so yeah yeah so that's been the video for today if you liked please leave a like and subscribe and I will see you again in another