To add on to your question, I want to know if Bitcoin and other cryptocurrencies stay in the ether and are for bartering only. If I have $10 million worth of Bitcoin, is there any way to trade it for cash, or can you only use it to purchase tangible items from those who will accept Bitcoin as payment?
If you can sell your Bitcoin to others for cash, how do you protect the transaction so that neither the seller nor buyer gets ripped off?
It’s not good for your crypto to “stay in the ether.” Once you buy it on an exchange, it’s best to take it off the exchange. YOU are the bank when it comes to crypto currency. You can download it to a crypto wallet on a PC or a special USB called a cold storage wallet. If you want to convert it back to dollars, you sell it back to the exchange, where you can then transfer it to your bank account.
You use exchanges such as Coinbase, Binance.US, Gemini or FTX to go from fiat currency to crypto. These are all legit. I would caution against leaving your coins on any exchange. For best security use a hardware wallet such as Ledger to securely hold your private keys. BTC is digital gold and an evolutionary currency that escapes the control of the banking cartel. I also recommend Ethereum, Cosmos (ATOM), and Cardano (ADA).
I bought $250 worth of crypto it climbed to $450, I withdrew $300 and then later withdrew the other $150.
I used coinbase but a lot of people say you should keep it in your crypto wallet instead of an exchange. Reason being, if the exchange goes belly up, you lose your crypto. I wasn’t worried about it since it was only a few hundred and coinbase isn’t some rinky dink outfit.
How do you do it with a credit card or a check?
My God..spend five minutes…just five..doing a search.