Some people want to cash out and are running around, looking for an OTC dealer to convert their Bitcoin to fiat.

Rather than replying to each of you directly, here’s my uninformed, not a financial advice, but technological options that you have:

Don’t sell your Bitcoin and get fiat at the same time

If you don’t want to fully cash out, but still need some fiat, you can use Bitcoin-collateralized lending and get fiat. In most countries, this should be a tax-free operation (you are not selling your Bitcoin) - but consult a tax advisor.

Benefits: You still HODL, still participate on upside of Bitcoin, you are shorting fiat (which is a shitcoin), you can enjoy the fruits of your holdings, no taxes (in most countries)

Downsides: You pay interest rates on fiat, which are at least now not cheap (but that will fade away I guess), there are other risks with lending positions that I describe.

How to learn how to do it and choose the right platform:

• if you read my book Cryptocurrencies - Hack your way to a better life, you have already seen the chapter on collateralized loans

Get it here in English, Spanish or Slovak

• if you need more up to date information, you can get my newly published book How to harness the value of Bitcoin without having to sell it: A path to your orange citadel and a way to short fiat currencies. Kindle and Paperback available.

• if you want the same content, but with videos (e-book included too!), where I show everything end-to-end, get the course

Find a counterparty that has the opposite problem using Vexl app

I have a short, free, no registration required course as a quick intro to Bitcoin, also available in Slovak

There’s a chapter on vexl app where I show you how to find someone you can buy from or sell to.

Other options, such as using proxy merchants

Believe it or not, the cypherpunks have thought about this exact problem. And there are many more options that you will find in Cryptocurrencies - Hack your way to a better life. One of them is proxy merchants, where you can not exchange to fiat, but buy whatever you want to buy. There are proxy merchants selling amazon gift cards, Uber credit, data plans, etc. These days, you can even buy a car or a house using proxy merchants. There are many options, but a notable ones are bitrefill for gift cards and all your phone needs.

And Trocador for prepaid visa and mastercard cards without KYC.