I can speak for Philippines market. Here in PH we have companies accepting bitcoins and services that allow you to cash out bitcoins.

One such company here is coins.ph, it is a company that allows you to buy and sell bitcoins. They have a connection with our local banks so whenever you wish to cash out you just put in an order in the website to wire the money to your account. In terms of buying bitcoin you can use their seven eleven outlets to put some cash in to your coins.ph account to buy bitcoins.

We still dont have altcoin exchanges here and companies accepting or selling them, so the best way to do cashout altcoins would be through converting them first to bitcoins. Bitcoin right now is like the USD of cryptocurrencies.

i am happy to see that today there is many option that we can use to cashout our bitcoin to fiat and we can use without a problem. for people which don't have local exchanges or seller to buy and sell bitcoin, they can use localbitcoin which many of recommended seller and buyer that will receive our orders. beside that, it will be better if we can find one of our friends that willing to accepting our bitcoin and send the money to our bank account, i often use this way if i am in urgent situations so i don't have to wait until hours to receive my money.

In out country we can encash our bitcoin in remittance center or else sometimes they were directly deposited it in the bank. Moreover using coinsph wallet they can easily convert the cash into bitcoin and bitcoin into cash so I have no problem regarding conversion or encashment of bitcoin.

Try searching for some local exchanger or some wallet you could use to easily withdraw your bitcoin,
Luckily for us who are in the Philippines we could easily trade our bitcoin into Fiat because of our local online wallet.

It's easy You can sell it or withdraw using credits cards funded by bitcoin ( epayments , spectrocoin, etc )

If you are relatively new to digital currency I need to advise you to use care in dealing with some of the exchanges. Ask the people on this forum. I believe that for the most part they are helpful and will give you honest and valuable advice. Without trying to tell you what to do with your money I will tell you that after relying upon some industry reviews posted online I jumped into the digital currency market with CoinBase. I do not believe I could have made a worse decision. Now after talking with real people who have been victimized by this company I realize that they have appropriated the funds of many customers, have essentially no customer service system and no consumer protections in place. I suspect that in what has been a fast and loose marketplace CoinBase is not the only cryptocurrency exchange company out there with a predatorial business model because quite simply bad people will do bad things if they can get away with that conduct. So beware and be careful. Get good advice from real people who have no profit motive in your victimization. Good luck to you.

Well I can easily cashout My Bitcoin in local currency by depositing my all Bitcoin in exchange and find the best deal and trade them for Bitcoins, Or I use localbitcoin the best and safest website but the fee is really high there, So I suggest you should always try your local exchanges for trading Bitcoins.

As i know that some exchanges provide withdraw into fiat money like usd or euro.

there are many ways convert Bitcoins for cash. There are usually exchange in every country. it allows us to convert our bitcoin into local currency
If you want to convert the Bitcoin to USD you can use Coinbase.it very easy to use

I used a local wallet here in our country were there are a lots of method of I can cash out it. So I think it would probably depends on where country you are. Better to search for a local wallet in your country and see were would you fit to cash it out. There are a lot of applications there just seek around.