How to Convert Sats into Local Currencies

Getting Started

To withdraw Sats from the Lightning Network to Coinbase (or any other wallet/exchange), follow these steps. The process remains similar no matter where you're transferring your funds.

Part (1): Receiving Bitcoin via Lightning

---

1. Sign in to your Coinbase account.

2. Select Bitcoin as the asset you wish to receive.

3. Select the Lightning network.

4. Follow the prompts to create your invoice

   • Invoices are valid for 72 hours.

5. Copy the invoice. You will need this in the next section.

---

Part (2): How to withdraw sats from Lightning Bounties to Coinbase?

---

1. Login to Lightning Bounties: then click on your account.

Step #1

1. Initiate Withdrawal: Select the option to withdraw your sats.

Step #2

3a. First, paste your invoice string into the input field

(the same one you copied on your Coinbase account in the previous step).

3b. Click the “Create”

Step #3

1. Your sats should now be reflected in your Coinbase account after the transaction is confirmed.

---

Part (3): Converting Your Crypto Into Fiat Using Coinbase.

Before you can cash out your crypto, you may need to sell it to your Coinbase cash balance before transferring the cash to your bank. You can then either transfer ("cash out") the funds to your bank or leave them in your cash balance for future crypto purchases. There's no limit on the amount of crypto you can sell for cash.

3a. Sell crypto to your Coinbase cash balance

To sell your crypto:

1. Sign in to your Coinbase account, on the web or mobile app

2. Select Buy & Sell

3. Select Sell

4. Select the crypto you want to sell and the amount.

   If on mobile, you'll be required to crypto the asset you want to sell before entering an amount

5. Change the To destination, if applicable.

   • This will likely default to your local currency balance (USD) but you may have the option of adding to another balance (e.g., USDC).

6. Select Review order.

7. Select Sell now to complete the sale.

Once the crypto sell order is complete, the funds will be available in your cash balance to buy other assets or cash out to your bank.

3b. Cash out your funds

Browser	Mobile app
Sign in to your Coinbase.com account.	Access the Coinbase mobile app.
Select My Assets.	Select My assets, then Cash out.
Select your local currency balance.	Enter the amount you want to cash out.
Select the Cashout tab and enter the amount you want to cash out.	Select your Cash out from balance and choose your Deposit to destination
Select Transfer to and choose your cash-out destination.	Select Preview cash out and confirm your selections.
Select Review.	Select Cash out now to complete your transfer.
Select Withdraw cash to complete your transfer.

Part (4):** Converting BTC into Mexican Pesos (MXN)**

If you want to end up with MXN in a Mexican bank account, the common flow is:

1. Move your BTC to a regulated exchange that supports MXN withdrawals to Mexico.

2. Sell BTC to MXN.

3. Withdraw MXN to your bank account (often via CLABE).

4a. Choose an exchange that supports MXN withdrawals

The exchange you choose should be able to:

• Hold an MXN balance

• Let you sell BTC -> MXN

• Withdraw MXN to a Mexican bank account (often via CLABE)

Rules, fees, and availability can change. If you are moving a meaningful amount, test first with a small deposit and withdrawal.

4b. Deposit BTC to the exchange

1. Create a BTC deposit address in the exchange app.

2. Send BTC from your current wallet/exchange to that deposit address.

3. Wait for the deposit to confirm.

If the exchange supports Lightning deposits, you can use Lightning. If it does not, you will need to send on-chain BTC (fees and confirmations apply).

4c. Sell BTC -> MXN

1. Use the exchange's "Sell" flow to convert BTC into MXN.

2. Double-check the total after fees before confirming.

4d. Withdraw MXN to your bank

1. Add your withdrawal details (often CLABE).

2. Withdraw your MXN balance to your bank.

3. Keep records for taxes/accounting in your jurisdiction.

Bonus: What you can do with sats without converting to fiat

You often do not need to convert to MXN. You can:

• Spend sats at Lightning-enabled merchants (map: https://btcmap.org/)

• Buy gift cards / products that accept Lightning (directory: https://lightningnetworkstores.com/)

• Pay friends or freelancers who accept Lightning