Convert cryptocurrencies into cash without a bank account or an in person exchange

“The American one dollar notes under low lighting.” by Aidan Bartos on Unsplash

Disclaimer: I do not suggest tax evasion. It’s your responsibility to know the laws regarding cryptocurrency trade in your country, report your income and comply with tax law.

At the time of writing this article some of the other options for converting crypto into cash without a bank account are:

• Bitcoin ATMs — generally not recommended due to high fees and/or awful exchange rates
• In-person exchanges — not recommended due to associated risks (even when exchanging at a public place) such as being paid counterfeit cash or being followed and robbed by an accomplice after the exchange
• Getting a TenX card — no longer available in Europe

The method I describe works in Europe and many countries elsewhere:

1. Sign up at Bitpanda.com and transfer your crypto (Bitcoin, Ethereum, Dash, Litecoin, BitcoinCash or Ripple) to your deposit address. Without verification you’ll be able to withdraw 1,000 euros per day, 7,500 euros per month and 30,000 euros total (and increase these limits by verifying personal details)
2. Sign up for either Skrill, NETELLER or both and verify the account(s)
3. Sell crypto at Bitpanda and transfer it to your Skrill or NETELLER account
4. Get a prepaid physical Mastercard from either Skrill or NETELLER for about 10 euros (or use NETELLER’s virtual Mastercard)
5. Cash out at any ATM or pay with card at shops, restaurants or online anywhere that accepts Mastercard

Alternatively, you can use Bitpanda to convert your crypto into Amazon.de vouchers at a decent rate.

Also, note that funding Skrill or NETELLER with Bitcoin directly will make you unable to spend or cash it out in a way other than a bank transfer, so avoid that.

Using Skrill/NETELLER you can use your card for up to EUR 2700 / GBP 1950 (or 50 transactions) worth of purchases or EUR 900 / GBP 650 (or 10 transactions) worth of cash withdrawals per day.

If any of this information is no longer accurate/needs to be updated or if anyone knows of other ways that eat less of a percentage in fees and are not shady/risky, let us know in comments!