Easiest way to cash out Crypto

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17 Dec 2023
46


In the ever-evolving landscape of cryptocurrency, cashing out can be a labyrinthine journey, especially with the myriad of centralized exchanges available. 
Binance, Coinbase, and Bittrex are just a few names in the game, but the verification process often feels like hitting a brick wall, exacerbated by increasing regulatory scrutiny.

What exchange to choose?


I have dabbled with Bittrex but they same as Binance charge a fee for withdrawal 25$ for wire transfer or some small % like 3%(it may be altered by the time of my writing). 
The ease and smoothness of the process, coupled with fewer withdrawal charges, made Coinbase my go-to choice.
Identify verification(passport/ID) is the easy step in all exchanges. Verifying address that could be tricky and multiple different documents have been send with rejection email about verifying address.

Coinbase specifies that proof of address needs to be validated.

You will need to unlock level 3 by verifying a valid Identification Document before being able to send and receive on the blockchain.

The way I was able to go past it is to send a document that is from 2020 that was already verified before(even if address doesn’t match my current place of living). 
Every year or so exchange platforms require for revalidating your identity and it just so happens that for Coinbase older documents can be verified. 
The reason why I prefer Coinbase is that I can send to PayPal without added taxes.

Withdrawal


Ones your validated you add a payment method simply as that and continue on from there. 


I have added different banks but just use PayPal as you don’t pay additional fees. It may take additional time to process your request as sending to PayPal and then your bank but I think added step is worth it if your not in a hurry.

I realized the importance of validating oneself on an exchange and withdrawing profits in a timely manner greed serves no one any good.


Remarks


I and many others fell into the trap of being able to buy crypto but withdrawal never crossed my mind or it crossed way later in the BEAR market.
It is important to get yourself validated on an exchange and ones profit comes to upside withdraw at least half of it. 


Diamond hands served me no good there where times when I could withdraw and I didn’t or I wasn’t verified by the exchange and just forgot about it.
Have you faced similar challenges? 
What exchange did you use, and was the process as troublesome for you as it was for me?

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