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Newbie Question - Crypto to Bank Account/Cash

  • 01-01-2021 5:12pm
    Registered Users Posts: 2,434 ✭✭✭

    Hi all,

    I'm only getting started in this world of crypto and my friends have advised me to start with as a beginners way to buy and sell crypto.

    First things first - anyone ever waited longer than a few hours to have their account verified? I know it's the Christmas period but everyone I know seems to have gotten theirs verified in no time. Mine's taken three days so far and still waiting.

    I actually get the general idea of how it works with the exception of the most obvious part - turning the crypto back into cash or bank account.

    Say for example I have MOF or USDT, is it possible to simply sell that back into fiat and lodge it directly into my account?

    Is the option of using those Crypto Visa Debit cards a better option as regards fees? If so - which is the best for that? And say if I went with the cards - does the fiat currency stay loaded onto that like a traditional bank account debit card or is that fiat currency still floating as a crypto currency in the background pending withdrawal?

    I suppose being able to safely store fiat on a debit card or transfer out to my acc quickly would be the best options.

    And if so - how? Is there a nice step by step guide on how to do it?

    Thanks all. And apologies as I have no doubt it's been asked a thousand times.