Changing Cryptopcurrency and depositing it in a Paypal/bank account

Finance, Taxes, Banking, Insurance and Retirement
1
Hi,

A friend in Germany has asked me if I know a way (or the best way) to change some cryptocurrency assets into USD/Euro and put them into their (ideally) Paypal or Bank account. Has anyone here experiences with it? I have no idea as I have not done such things before :-/ Is it btw legal? (I guess yes)

Many thanks

2
Sell it? If it's stored in a cold wallet then transfer it to an exchange and sell it.

AFAIK Paypal is not going to work though, funds need to be withdrawn to his/her account.

3
That friend should learn to google... anyways: https://praxistipps.chip.de/bitcoin-...so-gehts_91766

4
Register with Coinbase or Kraken, add your bank account to your account, sell your crypto (either on the same exchange or elsewhere depending on which asset it concerns), and withdraw your funds from the exchange to your bank account.

Pay special attention to network fees. Depending on the asset, it's often a lot cheaper to convert e.g. ETH to XLM first, then transfer to the exchange, and sell that to avoid the outrageous ETH fees.