Blockchain coins are more profitable than cash!
As soon as Bitcoin's decentralized payment system began its work, there were few options for cashing out coins. People used the services of exchanges to withdraw money and exchange Bitcoins; and this method is still relevant. People leave applications on a dedicated website and independently search for offers with the most favorable conditions. If the price and the volume suit both parties of the transaction, they exchange their details and transfer funds. Online Blockchain wallet or desktop application is suitable to output bitcoins on the stock exchange. The advantage of this method is the most flexible pricing and the ability to exchange digital money on the most favorable terms. The other side of the coin is a tedious search for a suitable application, limits on the number of coins and irrationally large amount of time spent on transactions.
The exchanger website is a more convenient and sometimes financially profitable way to cash out bitcoins. There are multiple popular websites work with blockchain and any other types of wallets, support a lot of services for several types of currencies. The most important advantage of this method is the absence of restrictions on the amount and that is the fastest possible transaction confirmation.
How can I withdraw cryptocurrency from the blockchain wallet?
There are three ways to transfer funds over the blockchain network:
- Quick sending. All you need to do is enter the amount of the transaction and the number of the blockchain wallet. When using this option, you are charged with minimum commission. But it should be noted that the operation confirmation is made on a first-come, first-served basis when using this type;
- Shared Coin involves creating a general confidential operation, during which the funds are transferred to several wallets at once. This option is used for multicast transfers with details amounts. Blockchain Shared Coin uses a method resembling Coin Join to make transactions confidential without having to trust the Shared Coin service. Their money never gets out of their control and will not be stolen or taken away. The size of the transfer must be in the range from 0.01 to 50 bitcoins;
- User transaction. In this case, the wallet owner chooses the size of the commission for the transaction. This allows you to speed up the operation processing.
Tips for withdrawing money
Bitcoin is a decentralized payment system with the maximum level of protection against fraud, software errors and other unwanted situations. It is technically out of question to falsify the data on the transaction when withdrawing money from the blockchain wallet. However, unauthorized access to credentials still might be obtained. Therefore, experts recommend creating a new address for each cryptocurrency transaction. In addition, the function 2FA will not be excessive; it creates a new password of 15 characters each time you open a blockchain wallet. Another point worth remembering is the careful input of the recipient's address. If you make a mistake and send bitcoins to a non-existent wallet, then the coins will return in full. But if the address is occupied, then no one will refund the loss.
You can also familiarize yourself with fraudulent brokers.
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