Today, our member @dobrica asked me a simple question: “What do you think is the best way to cash cryptocurrency for people in Serbia?” Well, let’s try to answer for Serbia and beyond…

By far the best way to buy and sell cryptocurrencies is to do business directly with people from your environment. If you know someone who deals with cryptocurrency, ask him if he would buy it from you, or if he sells it. That way, you trade cryptocurrency as anonymously as you do now with cash. True, there may be a couple of problems. The first is that cryptocurrency users are still very rare, so there may not be anyone in your environment who deals with them. Another problem, if you want to buy a decentralized cryptocurrency, you have to know their property of being a very good custodian of value. This means that you will easily find someone who would buy the cryptocurrency from you, but it will be very difficult if you ask to buy it from an individual. For such a thing, in both cases you will need a cryptocurrency exchange.

In Serbia, you can first contact the first Serbian registered cryptocurrency exchange ECD through which you can buy and sell for RS dinars. Registered users on this exchange will have certain privileges and a smaller provision to pay.

The next problem you may encounter is a limited choice of decentralized cryptocurrencies that can be traded. If you have an ‘exotic’ cryptocurrency, it would be better to convert it to bitcoin first, because everyone would want it, including PayPal, and soon both Visa and Mastercard will enter the game.

On the other hand, if you are in a hurry, you do not like the ECD commission, you can try a direct agreement with users through the site LocalBitcoins.com.

Another way is to download a wallet Mycelium where you can announce the sale and wait for your nearest customer (who must also have the Mycelium wallet installed) to contact you for the purpose of contracting the sale.

If you’re lucky enough to already have enough to do business with, check out additional components from the mycelium ecosystem, or see what the Crypto.com system has to offer, in which you can pay with the deposited amount of decentralized cryptocurrency via credit card, just as you would be paying with fiat money.

However, keep in mind that with decentralized cryptocurrencies, the value increases and that it is wise not to spend cryptocurrency as long as you have a fiat currency whose value decreases. In the meantime, follow the relation between the only two types of real money on the planet: Bitcoin and gold…