What's the best way to cash out Solana to fiat?

[Hellont]

I've been holding Solana for a while now, and I'm planning to cash out a portion of it to fiat. I'm trying to figure out the most cost-effective way to do this. What methods are available for withdrawing SOL to a bank account? How can I save on fees? Are there specific exchangers that offer better rates than others? I don't want to lose a chunk of my profits to commissions and conversion spreads.

 

[Evergreat]

Most major exchanges let you sell SOL and withdraw to your bank, but the process can take a few days and involves multiple steps. You could also use P2P platforms where you trade directly with buyers, though that comes with its own risks regarding payment reliability.

 

[Slenter]

When you convert cryptocurrency to traditional currency, you face fees at every stage. First comes the trading commission when liquidating your Solana, followed by withdrawal charges to extract funds, and often hidden spreads where platforms mark up the market rate. Peer-to-peer options seem attractive due to lower advertised costs, but introduce risks including payment disputes, frozen accounts, and unreliable counterparties. Specialized exchangers facilitating direct bank deposits typically deliver better value by eliminating middlemen and displaying costs transparently upfront. The optimal strategy is to exchange Solana to bank transfer, for example, in this exchanger https://nimlab.eu/exchange/sol-solana-to-banktransfer-euro/. The platform shows the precise conversion rate and complete fee breakdown before execution, giving you certainty about the final amount arriving in your account.