And is there a fee to go back-and-forth bitcoin

Bitcoin Questions and AnswersAnd is there a fee to go back-and-forth bitcoin

Michael asked 9 months ago

Once I’ve been bit coin wallet going to pay local people that don’t have nothing to do with bitcoin I need transferring back to dollars And is there a fee to go back-and-forth how to make bitcoin turn the gala so I can pay my plumber etc.

 

1 Answers
Steven Hay answered 9 months ago

Hi Michael,
 
To convert Bitcoin into fiat money, you’ll have to sell it, either to a person, a Bitcoin ATM or through an exchange. There will be fees involved, yes. First a mining coin to send your Bitcoin to the buyer / ATM / exchange and then whatever fee is charged by the ATM / exchange and buyer (if you use some kind of escrow service to secure your trade with them). These fees are variable but should be fairly low.

Bitcoin Video Crash Course 

Dummy-proof explainer videos enjoyed by over 100,000 students. One email a day for 7 days, short and educational, guaranteed.

We hate spam as much as you do. You can unsubscribe with one click.