Most people send it to an exchange or app they have an account with, sell it there for dollars, and withdraw the cash to their bank. In the US, selling can mean capital gains tax. This isn't tax or financial advice.
Go deeperExchanges usually require ID, and bank withdrawals can take a few days. Selling directly to another person skips the exchange but carries scam risk: meet in a safe public place or use a service with escrow, and never release bitcoin until you've confirmed the payment cleared. Keep records of what you paid and what you sold for, since you'll need them at tax time.
Learn moreIRS: Digital assets ↗
Last checked Oct 7, 2026