How to Cash Out Crypto In Georgia

Cryptocurrency use is growing rapidly in Georgia, with an increasing number of individuals and businesses looking for reliable ways to exchange digital assets for fiat. But is it legal? Can companies cash out? And what’s the safest and easiest way to do it? Let’s break it all down.

Is it legal to use crypto in Georgia?

Yes, cryptocurrency is legal in Georgia. While crypto is not considered legal tender, it is recognized as a digital asset, and there are no restrictions on owning or using crypto for transactions. In fact, Georgia is one of the more crypto-friendly countries in the region. The National Bank of Georgia recently introduced regulations to ensure transparent and compliant crypto operations.

What is the best way to cash out crypto in Tbilisi, Georgia?

Good news for those looking for a reliable exchange: our partner, crypto exchange in the heart of Tbilisi Werty is now officially licensed by the National Bank of Georgia to perform crypto transactions.

If you are looking for the best crypto exchange in Georgia, Werty is a trusted option for exchanging USDT, BTC, and ETH with cash or via Georgian bank transfers.

Werty operates officially under Georgian regulations, with a central office in Tbilisi and a location in Rustavi, and is well suited for large transactions, including real estate and car purchases.

The service is known for transparent rates, no hidden fees, and a strong focus on security: transactions are handled in secured offices with armored cash desks and professional banknote verification.

You can submit an exchange request in advance through the website, receive a consultation from a manager, and complete the transaction quickly and safely at an agreed time.

How to exchange crypto for cash in Georgia: step-by-step instructions

Here’s how the process works with Werty:

1. Submit a Request
   Use the Werty website or Telegram bot to place your request. Share your preferred payout city (Tbilisi or Rustavi), and the amount and type of cryptocurrency (Bitcoin, Ethereum, or USDT).

2. Verification
   As required by Georgian law, you’ll go through a quick identification process. This step ensures compliance and security for all parties involved.

3. Confirm the Details
   A Werty manager will contact you to confirm transaction terms and walk you through the process if necessary. Personalized support is available at every step.

4. AML Screening
   Werty screens all crypto wallets through an AML (anti-money laundering) service before proceeding with the transaction, helping maintain legal and financial transparency.

5. Conversion at a Fixed Rate
   Your crypto is exchanged at a fixed rate into the fiat currency of your choice, and you receive cash or a bank transfer in Georgian lari (GEL), US dollars (USD), or euros (EUR).

6. Receive Your Money in the Werty office in Tbilisi or Rustavi, or to your Georgian card. When submitting your request, let the manager know your preferred city and method. 

   

Which cryptocurrencies you can exchange in Georgia

In Georgia, you can exchange the most popular cryptocurrencies:

• Bitcoin (BTC),

• Ethereum (ETH),

• Tether (USDT) — Tether TRC20, Tether ERC20.

Once verification and wallet screening are complete, most transactions are completed within 10–20 minutes. Processing times vary depending on the payout method and amount.

Can I withdraw large amounts of crypto in cash?

Yes. Large cash withdrawals, starting from $50,000, are possible with Werty. Whether you’re paying employees, investing in property, or transferring business capital, the service is equipped to handle high-value transactions securely and discreetly.

If you want to cash out more than $50,000 (or the equivalent in crypto), Werty will ask you to provide proof of funds, such as a property sale agreement or an annual bank statement.

Can a company cash out cryptocurrency?

Yes. Companies registered in Georgia can legally convert cryptocurrency into fiat currencies through Werty. This applies both to businesses that accept crypto payments from clients and to those holding digital assets as part of their treasury.

Werty supports corporate clients with structured crypto-to-fiat operations, including asset conversion, settlements with international partners, and exchanges related to day-to-day business activity.

Other Ways to Cash Out Crypto in Georgia

While Werty offers one of the most secure and licensed solutions, there are other ways to convert cryptocurrency to fiat in Georgia. 

1. Crypto ATMs (Bitcoin ATMs)

You’ll find crypto ATMs in Tbilisi and Batumi, mostly in malls or tech shops. Here’s a map of all the crypto ATMs. They allow you to buy and sell Bitcoin, USDT, Ethereum, and other cryptocurrencies for cash, usually in GEL. 

However, fees can be quite high (up to 7–10%), and transaction limits are relatively low. Identification is often required for larger sums.

Bitcoin ATM. Photo: TASS

2. Online Exchange Platforms

If you prefer to exchange crypto fully online without visiting a physical office, websites like BestChange can help you find a suitable provider. BestChange is a popular aggregator that lists hundreds of online crypto exchangers and lets you compare:

• Exchange rates

• Available cryptocurrencies and fiat pairs

• Minimum and maximum limits

• User reviews and trust scores

• Accepted payment methods (bank transfer, SEPA, Wise, Revolut, etc.)

How it works:

1. Go to BestChange

2. Select the cryptocurrency you want to sell (e.g., USDT, BTC, ETH)

3. Choose the fiat currency you wish to receive (e.g., USD, EUR, GEL, RUB)

4. Browse a list of verified exchangers

5. Click through to the provider’s site to start the transaction

A list of exchangers on BestChange

3. P2P Platforms (Peer-to-Peer)

P2P (peer-to-peer) crypto trading is a method of buying and selling cryptocurrency directly between users, without involving an intermediary like a centralized exchange or financial institution. Instead of trading with the platform, you’re matched with other individuals who want to buy or sell crypto.

Here’s how it typically works:

1. You place or accept an offer. On a P2P platform, users post offers to buy or sell cryptocurrency, including the amount, payment method (bank transfer, PayPal, cash, etc.), and price. You can either post your own offer or accept someone else’s.

2. The platform holds the crypto in escrow. When a trade is initiated, the platform locks the seller’s crypto in an escrow wallet. This means the crypto is held safely by the platform and won’t be released until both sides confirm the transaction.

3. You make the payment. The buyer transfers money to the seller using the agreed-upon method. Once the seller receives and confirms the payment, the platform releases the crypto from escrow to the buyer’s wallet.

You can use Binance P2P, Bybit P2P, OKX P2P, and others.

Bybit P2P

Use only platforms with escrow protection. Never send funds outside the platform’s secure system, and always check user reviews and completion rates — look for verified users with a long trading history.

Some more tips for a safe P2P exchange:

• Communicate clearly and keep records. Use in-platform chat only — avoid moving to third-party messengers.

• Avoid emotional or rushed trades. Scammers often try to create urgency.

• If meeting in person for cash trades, choose safe public locations — ideally with CCTV.

Do I need to report the transaction to the Revenue Service?

If you’re a tax resident of Georgia, you may be required to report crypto transactions, especially if they are part of your business income. We recommend consulting a tax advisor for clarity. While 1tab ensures full AML compliance, tax obligations remain your responsibility.

Georgia offers a legal, flexible environment for crypto usage. With Werty now operating under an official license, exchanging digital assets is a smooth and simple process. Whether you’re an individual or a business, Werty provides a transparent, fast, and secure way to cash out your crypto.