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The Greatest Bitcoin Explanation of ALL TIME (in Under 10 Minutes)The first method to convert any cryptocurrency into cash is through an exchange or a broker, this is quite similar to the currency exchange. such as U.S. dollars or other traditional currencies. You create an account on the exchange, deposit your Bitcoin, set up a sell order, and once it's filled, you can withdraw the cash to your bank account. Cryptocurrencies are digital tokens. They are a type of digital currency that allows people to make payments directly to each other through an online system.