Connect with us

How to Sell Bitcoin

You must to withdrawal some amount of bitcoins from the programs that we recommend here to make money online with crypto and now is time to learn How to Sell Bitcoin. There are many ways to sell bitcoin and recieve cash so let see if this article can help you.

After making more than 100 crypto withdrawals with a dozen exchanges and P2P platforms, the one we’d be happiest using every day for converting BTC into money in your bank account is the Coinbase. You won’t regret this easy-to-use yet professional exchange with a wallet feature, and completing the job is surprisingly easy.

However, if you are looking to cash out your digital currency to physical money or goods, you should consider selling your coins directly to a person, who wants to exchange his or her money or goods for cryptocurrency (P2P). Our choice here is LocalCoin.

Where to Sell Bitcoin?

As Bitcoin and cryptocurrency continue to explode in popularity, more and more services are coming online to help users get their hands on bitcoin or turn their BTC into USD or other fiat currency in a quick and effective way.

There are several methods for selling BTC, each a little different from each other. And your choice would depend on how much you’re looking to cash out, how much control you want over the eventual price you get for your cryptocurrency, and how much time you have.

1.Exchanges

One of the most common and simplest ways to sell bitcoin online and convert it into hard cash is through an exchange platform. Exchanges act as a middle-man by selling your BTC for you. The most popular platforms are Binance, Coinbase and others.

Best Bitcoin Exchanges for Selling Bitcoin 2020

Coinbase

5/5
  • Active since 2012
  • Buy crypto with credit card or bank

Bitpanda

5/5
  • Top quality Crypto Exchange
  • Multiple payment options

Binance

5/5
  • Most Popular Crypto Exchange
  • Best Trading Competitions

Kucoin

5/5
  • Good Interface Design
  • Low transaction fees

Changelly

5/5
  • Best Rates on the Market
  • Low Exchange 0,25% Free

No matter what exchange you choose, you will need to create an account and a wallet and link your bank account to it. You will probably be required to provide a photo-ID for verification before placing any orders. The verification may take a few days or even longer, so make sure you set up your account well in advance of when you plan to trade.

Then you take your deposit address from the exchange wallet and you send the Bitcoins you want to sell to it. At this moment you can place a “sell order”, so your coins will be sold at the going market rate. Some exchanges will let you set a limit on your sale, so that if Bitcoin’s price were to drop below a certain point, the sale would not proceed.

After the sale has been completed, the funds in your relevant currency will be transferred directly to your linked bank account, or to your exchange currency account. Now you can withdraw your money. It is a good idea to pay close attention to the fees charged by the exchange for using their services.

2.P2P exchanges

Peer-to-peer trading is another alternative for selling your BTC. You will probably need to create your account and get verified to confirm your identity. Once you’re set-up, you can cash out your coins in a much more ‘direct’ manner. You can set up a sell order for a specific value and when someone comes along looking to buy at the agreed upon price, the site will alert you that you can move ahead with the transaction. Once you give it the thumbs up, the buyer pays you, and you then send them the cryptocurrency in return. Sites like LocalCoin or Paxful have numerous methods of conducting the payment, including MoneyGram, gift cards, cash in the mail, and even cash in person.

Localbitcoins

There is no middle-man exchange with direct trades, so you don’t need to worry about the platform itself running off with your money or being hacked and having it stolen. However, direct trades are more time consuming than automated exchanges. You have to make the trade manually and you have to be ready to do so in a timely manner.

3.Bitcoin ATM

If you don’t feel like selling BTC online, you can look into bitcoin ATM. Bitcoin kiosks are machines connected to the Internet, allowing the insertion of cash in exchange for bitcoins given as a paper receipt or by moving money to a public key on the blockchain.

Bitcoin ATM

They look like traditional ATMs, but Bitcoin kiosks do not connect to a bank account and instead connect the user directly to a cryptocurrency exchange.

4.Bitcoin gift cards

Bitcoin gift card is another unique way to present coins to your family and friends. After you purchase it online on portals such as bit4coin, the gift card or voucher will be mailed to the specified address. The recipient can easily redeem the gift card against bitcoins at the exchange rate at that time. Such portals don’t just help with the redemption; they also guide on how to open your own wallet.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *