How to Sell Bitcoin
Selling Bitcoin may be a topic that is difficult to understand, especially for those who are new to cryptocurrency. That is why all the most important information about it can be found here in an easy-to-read format. Down below, the possible ways of selling Bitcoin are listed.
The simplest and most widely used way to sell Bitcoin is through exchange services. This is a way to transfer one cryptocurrency to another with anonymity and safety or to withdraw it onto a credit card and other methods like it. Typically, it takes very little time to be processed, although each exchange site has its own set fees, which should be taken into account.
Before proceeding, make sure that a Bitcoin wallet has been created. To find the best crypto wallet, read our detailed guide on Bitcoin Wallets Available. In the table below, the difference between some of the most popular exchanges can be seen.
|Exchange||Currency||Selling Fees||Withdrawal Fees: Bank Transfer||Withdrawal Fees: Credit Card|
|Bitsquare||Bitcoin||0.001% – 0.009%||0.1%||0.1%|
There is an option to sell Bitcoin directly to someone. To do that, the cryptocurrency holder would need to sign up at an exchange site of their choice as a seller and make a post about wanting to sell it. Then, the seller is notified whenever there is a potential buyer. However, from there on out, the interaction will only be between the two parties – the exchange site would only serve to make the trade happen and complete it. Then, a payment method can be agreed upon, and a transaction can be made.
While ATMs for cryptocurrency are not very common, it is still an option for those who would like to use them. To do so, select the option to sell cryptocurrency, and choose Bitcoin. Provide the ATM with the required wallet information, but usually, it can be done through a QR code. Type in the amount of cash that needs to be withdrawn and get the money.
P2P stands for Peer-to-peer, where a site can be used for trading Bitcoin, which is a practice that makes exchanges more anonymous and safer. Simply put, a user signs up on one of those websites, puts up a notice of wanting to sell cryptocurrency, and then will be notified about the buyers. After that, the transaction would be outside of the site in question. So, it is just a way to find those who want to exchange cryptocurrency.
Person to Person Negotiations
Bitcoin and other cryptocurrency options may be sold by scanning a QR code on another person’s phone and getting cash right away. Preferably, this should be done with somebody who is a friend, as it may be potentially unsafe to set up a negotiation with a complete stranger.
In conclusion, there are several ways to sell Bitcoin. The most popular one is through an exchange service. As cryptocurrency is anonymous and secure in nature, it is highly important to value the security of transactions. With the increasing spread of Bitcoin ATMs, it is a decent way to get cash in a few moments. And if trading online does not seem like a suitable option, then negotiating in person to sell Bitcoin could be another method.