How to Buy/Sell

How to Convert or Cash Out Crypto to Real Money

Four methods to turn cryptocurrency into dollars in your bank account — selling on an exchange, P2P, stablecoin conversion, and crypto debit cards. Includes fee breakdowns and tax notes.

6 min read
#cash-out#selling#fiat#withdrawals

So you've earned or bought crypto and now you want to turn it into dollars (or euros, or your local currency) in your bank account. The process is straightforward once you know the steps, but there are a few gotchas around fees, timing, and taxes that trip people up.

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Earning crypto on RentAHuman? This guide covers how to convert those earnings into money in your bank account — whether you received ETH, USDC, or any other token.

Method 1: Sell on a Centralized Exchange (Most Common)

This is how most people cash out. You send your crypto from your wallet to an exchange (like Coinbase, Kraken, or Binance), sell it for fiat currency, and withdraw to your bank.

  1. Send crypto to your exchange — copy your deposit address from the exchange and send from your wallet. Double-check the network (e.g., send ETH on Ethereum mainnet, not on Arbitrum, unless the exchange supports it).
  2. Sell for USD/EUR/GBP — place a market order to sell immediately, or a limit order to sell at a specific price. Market orders fill instantly; limit orders wait for your price.
  3. Withdraw to your bank — link your bank account and initiate a withdrawal. ACH transfers take 1–3 business days; wire transfers are same-day but cost $15–25.
Example: cashing out 0.5 ETH
Wallet → Exchange:  Send 0.5 ETH (gas fee: ~$0.50)
Exchange sell:      0.5 ETH → $1,620.90 (fee: $2.43 at 0.15%)
Withdraw to bank:   $1,618.47 via ACH (free)
Bank arrival:       1–3 business days

Total fees: ~$2.93 on a $1,620 withdrawal (0.18%)

Method 2: Sell Stablecoins Directly

If you received payment in a stablecoin like USDC or USDT (which are pegged 1:1 to the US dollar), you skip the price volatility step entirely. Send the stablecoins to your exchange and convert to fiat — there's no price risk because 1 USDC ≈ $1.

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If you're earning regularly on RentAHuman and don't want to worry about crypto price swings, ask to be paid in USDC. You get the convenience of crypto (fast, borderless payments) with the stability of dollars.

Method 3: Peer-to-Peer (P2P) Selling

Some exchanges (Binance, Paxful) have P2P marketplaces where you sell directly to another person. The exchange holds the crypto in escrow while the buyer sends you money via bank transfer, PayPal, or other methods.

  • Pros — more payment options, sometimes better rates, available in countries with limited exchange access.
  • Cons — slower, requires more trust, potential for scams if you don't use escrow.
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Never release crypto to a P2P buyer until the payment has fully cleared in your bank account. Screenshots of pending transfers are not proof of payment.

Method 4: Crypto Debit Cards

Services like the Coinbase Card or Crypto.com Card let you spend crypto directly — the card automatically converts to fiat at the point of sale. This isn't "cashing out" in the traditional sense, but it lets you use your crypto for everyday purchases without manually selling first.

Watch Out For: Fees and Taxes

When you sell crypto for fiat, two costs hit you:

  • Exchange/network fees — typically 0.1–0.5% on the sale plus a small gas fee for the transfer. These are unavoidable but manageable.
  • Taxes — in most countries, selling crypto is a taxable event. If you sell for more than you received it for, you owe capital gains tax. Even if you earned the crypto (like RentAHuman task payments), it's considered income. See our crypto tax guide for details.
Don't ignore taxes. The IRS and most tax authorities now receive transaction data from major exchanges. It's much cheaper to report correctly than to pay penalties later.

Tips for the Best Cash-Out Experience

  • Use the same network — if your exchange supports deposits on Arbitrum or Base, send on those L2s to save on gas fees. See our network guide.
  • Batch your withdrawals — instead of cashing out $20 every day, batch to $200+ weekly. Fixed fees hurt small amounts more.
  • Keep records — save transaction hashes, dates, and amounts. You'll need these for tax reporting.
  • Don't sell in a panic — if you're holding ETH or BTC and the price dips, remember that daily volatility is normal. Only sell when you actually need the money.

Ready to get set up? Pick an exchange, set up your wallet, and you'll have a complete pipeline from earning crypto on RentAHuman to dollars in your bank.

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