Hi community! I am just getting started with cryptocurrency in general. I like ZCash out of all the options I have researched. How do I convert my ZCash to currency?
Trying to figure out how all the parts of ZCash work.
Now I am curious… How do I Liquidate my ZCash to the currency of my choice so I can deposit funds into a bank? Any help is appreciated. Sorry if this is a duplicate post.
Each exchange has its own process, requirements and peculiarities about how to cash out into fiat currency, depending on what country it and you are in and what kind of bank account(s) you may have. Yeah, its complicated.
myself? I usually use shapeshift.io to convert it to bitcoin, and then send it to localbitcoins.com to sell for dollars into my paypal account
Thanks radix42! I am getting my coins from mining and can trade them for other currency, but I realized that the only thing I saw close to dollars was USDT. It looked like that wasn’t US dollars but Tether, which I understand is close to dollars.
In my case, I use https://changelly.com/ to send from ZEC to BTC (e.g. ZCash to Bitcoins), then I transfer from my Bitcoin “main” address to https://www.coinbase.com/ address. Update: I am now using Litecoin to transfer to Coinbase since both Bitcoin and Ethereum are so expensive (high fees / long time confirmations).
Once the Bitcoins are at a Coinbase account, you can register you US Checking account, and get US Dollars directly (minus a 1.5% fee).
An alternative is that you can buy Amazon or other Giftcards paying with Bitcoins in your Coinbase wallet at http://www.egifter.com/
This might be complicated at the beginning, but those of us that are used to trading in Forex with different currencies is the most common thing. Also, each country indeed have different solutions.
Hope this helps you.
Meem these are great details. I will try it when I get a chance. I really appreciate the links, very helpful.