There are several ways of cashing out your cryptocurrency. It depends on what wallet you are using and how it's being held. Cashing out cryptocurrency has become easier, but still has its risks and fees. Centralized exchange: If you have your crypto wallet in a large crypto exchange such as Binance, Coinbase and Gemini, they will convert your crypto to cash the same way you might convert Canadian Dollars to Euros. To do this you have to use their platform, convert at their rate and pay transaction fees. Once you complete the transaction, the currency of your choice will be deposited into your account, and then you can transfer it to a linked bank account. This is one of the simplest and most secure ways to cash out your cryptocurrency, but it requires you to pay fees to a platform and use its platform. Peer-to-Peer crypto exchange: Peer-to-peer (P2P) uses a decentralized platform so that two individuals can swap assets at an agreed-upon price either for a currency or cryptocurrency. The platform acts as a middleman, swapping the goods seamlessly for a transaction fee. Direct from a wallet: Some platforms such as Trezor and Ledger let you sell directly from your crypto wallet for fiat as long as you use their interface. The downside is they only buy Bitcoin at this time.