Converting Bitcoin to euro is a procedure that allows you to transform the famous cryptocurrency into the single currency of the European Union.
In this article we will explain how to convert Bitcoin to euros,
illustrating all the methods available online and offline.
How to Convert
Bitcoin into Euros Easily
The easiest solution to convert Bitcoin to euros is to use a
cryptocurrency exchange, a platform that allows you to exchange
cryptocurrencies with traditional currencies.
There are hundreds of platforms on the Internet that can be used
for this purpose, the spread of which is directly proportional to the success
of cryptocurrencies in recent years. We recommend that you only consider
the most reliable services, as there are operations of some importance
involved.
One of the reference platforms in the sector continues to be
Coinbase, a digital asset exchange company based in San Francisco,
California. First of all, it is a legal and safe exchange; Second, it
offers a user experience that makes the site and app accessible to everyone.
Here are the steps to follow to convert
Bitcoin to euros with Coinbase or another
cryptocurrency exchange:
- Open
an account from the official website or app.
- Check
your email address.
- Complete
the verification of your mobile phone number.
- Add
your personal information.
- Complete
identity verification.
- Add
a payment method (in particular, Coinbase also allows you to enter the
PayPal account).
- Transfer
the cryptocurrency to the Coinbase wallet.
- Sell
the virtual currency by choosing the exchange rate from BTC to EUR .
- Wait
for the money to arrive in your chosen payment method.
Convert
Bitcoin to Euros with HYPE
Another way to convert Bitcoin into euros is to open a HYPE
current account. The service is available to all customers who open an
account, provided they are of legal age. The other essential requirement
is the opening of a Bitcoin wallet through the HYPE app: the digital wallet
will house the Bitcoins that the HYPE client has until he decides to exchange
them for euros.
These are the steps to follow to open a Bitcoin wallet with the
HYPE account:
1. Open
the HYPE app and sign in.
2. Tap
the 3-dot icon to open the menu.
3. Tap
“Bitcoin”.
4. Accept
the terms and conditions of use of the service to open the Bitcoin wallet.
It is as easy to sell the cryptocurrency as
to have the corresponding amount in euros in exchange (excluding the commission
and the payment due to the so-called miners, that is, those who enter the
transactions in the block chain and validate them):
1. Open
HYPE app.
2. Tap
the 3-dot icon to open the menu.
3. Select
the “Bitcoin” item.
4. Tap
“Sell”.
5. Enter
the desired amount in euros.
6. Hit
the “Continue” button.
7. Confirm
the sale transaction and the amount in cash.
Commissions and limits of buying/selling Bitcoin with HYPE
As for the commissions, however, they depend on the type of plan
in use.
HYPE offers a total of three: Start, Next, Premium:
- The
basic Start plan foresees a commission of 2%;
- the
Next plan has commissions of 1.5%;
- finally,
the Premium plan includes a 1% commission;
For the three plans you also have to add the Mining rate (tax)
for the so-called Miners.
It is also important to highlight the differences in the sales
limit , both daily and annually, between the different HYPE
plans:
- Start : 500
euros (daily) / 2,500 euros (yearly)
- Next : 4,990
euros (daily) / 50,000 euros (yearly)
- Premium : €4,990
(daily) / €50,000 (yearly)
These, on the other hand, are the Bitcoin purchase
limits in relation to the subscribed HYPE plan:
- Start : 500
euros (daily) / 2,500 euros (yearly)
- Next : 4,990
euros (daily / 50,000 euros (yearly)
- Premium : 4,990
euros (daily / 50,000 euros (yearly)
Note : The minimum amount of Bitcoin that
can be purchased in euros is 50 euros in all three HYPE plans.
Convert
Bitcoin to Euros with LocalBitcoins
The other solution is to convert Bitcoin to euros with a peer-to-peer
exchange , a platform that allows users to privately exchange
cryptocurrencies and traditional currencies. The most famous international
p2p exchange is LocalBitcoins: the company behind the localbitcoins.com site is
based in Helsinki, Finland, and was founded in 2012 by English programmer and
investor Jeremias Kangas.
In the early years LocalBitcoins was the reference point for
millions of users, but after the explosion of exchange platforms like Coinbase
and Binance, many preferred to switch and trust the main cryptocurrency
exchange portals.
It is also recognized by the Finnish Financial Supervisory
Authority, the Finnish government's financial supervisory authority, in charge
of regulating the financial markets in the Finnish country.
How does the Bitcoin exchange procedure
work with the Finnish peer-to-peer exchange? These are the steps to
follow:
1. Connect
to the LocalBitcoins home page and complete the registration of a new account.
2. Click
on “Sell Bitcoin” at the top left to access the list of users interested in
buying the cryptocurrency.
3. Enter
the amount in euros of Bitcoin to be sold, the country of the buyer and the
purchase method (PayPal is also available).
4. Click
the 'Search' button to begin searching for home users who are eligible for the
selected requirements.
Attention , before proceeding with
the operation, you would do well to:
- Read
reviews about the user and make sure they reside in the country they
indicated.
- Check
your ID, phone number and email address.
- Send
a message to the private user to verify that the information is correct.
Note : No commissions are required and
all registered users can use the offered financial instruments.
conclusion
Our guide on how to convert Bitcoin to
euros ends here. As you can see there are several ways to
convert Bitcoin to euros, each one has pros and cons and the most appropriate
will be the one that best suits your needs: the costs of commissions and any
other taxes, the reliability of the service and the convenience of perform the
operation.
