Considered one of the safest crypto investments, bitcoin remains on the throne of cryptocurrencies for the long term. Many investors prefer crypto as their first investment. The first question that comes to every investor’s mind is where to sell bitcoins.
Since bitcoins are not fiat coins, there are special methods to sell or even buy them. In this article, we will look at the best way to sell bitcoins.
Where can you sell bitcoins?
There is more than one place where you can sell your bitcoins. By choosing the right platform, you can save a lot of time and money on transactions. Various factors like the price at which you want to sell your bitcoin, how long you are willing to wait also play a crucial role in determining the best place to sell your bitcoin.
Fortunately, bitcoin has gained enough popularity to be accepted on some shopping sites. You can use this opportunity to buy everyday things with BTC.
The exchange is the easiest and most efficient way to sell bitcoins online. You can use exchanges to sell bitcoins into other cryptocurrencies or fiat currencies. Different exchanges offer different services, such as low transaction fees, fast selling, selling BTC against other cryptocurrencies, etc.
As the popularity of bitcoin is increasing day by day, it is important to find the best exchanges to sell bitcoins. Selling bitcoins on an exchange without sufficient information can cost you hundreds of dollars in transaction fees.
If you want to trade bitcoins quickly and right from your bed, the exchange is the best place to sell bitcoins.
Before you can sell bitcoins on the exchanges, you need a bank account and sometimes even a pass. Some IOs will ask you for additional documentation for verification. You also need to have a wallet on the exchange platform if you want to transfer your BTC from an external source.
CEX.IO is a popular cryptocurrency platform based in London. One of the main reasons why users prefer this exchange is its simplicity. Anyone can sell their bitcoins on this platform with a few clicks. No wonder CEX.IO has over a million active traders.
Security is another important factor at CEX.IO. It is known that in the exchange of data, all necessary measures are taken to ensure the protection of user data. With CEX.IO, you don’t have to worry about security breaches. Another strong point of the exchange is that it complies with PCI DSS Level 2. The Payment Card Industry Data Security Standard (PCI DSS) is a set of guidelines and regulations for the security of user data when it comes to financial information.
A Level 2 pass makes CEX.IO one of the most trusted exchanges in the world. Today, we see more security breaches every day than ever before. It’s reassuring to know that cryptocurrency exchanges do their best to protect your financial information.
Like every stock exchange, CEX.IO also has a small drawback. Transaction fees are slightly higher on CEX.IO. However, the price seems decent considering the security the platform offers.
GETTING STARTED WITH CEX.IO
Binance is one of the most widely used and trusted cryptocurrency platforms in the world. Considered the best place to sell not only BTC, but also many other cryptocurrencies such as Ether, Carano Ada, Chainlink, etc.
Binance is so successful that it has its own network of smart links, where many successful projects are located. Beans also has a token called Beans. Binance token trading is very lucrative for investors.
Finance supports many currencies. You can exchange your BTC for any of these currencies. You can also exchange your BTC for Binance tokens to buy other cryptocurrencies at a discount.
Binance is considered one of the largest cryptocurrency exchanges in the world. The only downside to Binance is that not all US citizens can create a Binance account. The limited support for business financing in America is one of the reasons why people are turning to other exchanges.
Despite its flaws, Binance remains one of the most widely used and trusted platforms for exchanging cryptocurrencies. If you want to do daily transactions or just liquidate your assets, Binance is the best place to sell bitcoins.
START WITH THE FINANCING
Coinbase is one of the most popular and secure cryptocurrency platforms in the world. Coinbase is known for its ridiculously high user base. Coinbase’s user base is loyal for a reason. The coin machine is easily accessible and available in most countries.
You can transfer the money you receive when you sell BTC directly to your bank account. You can also use Coinbase to buy other cryptocurrencies besides bitcoin.
Coinbase is not just a trading platform. You can add Lao to use Coinbase as a digital wallet. Because you can easily withdraw money on exchanges, many people prefer Coinbase for quick exchanges and hedging.
One of the main advantages of Coinbase over Binance is that almost all US states support Coinbase. This is a huge change, as most crypto investments tend to come from the US.
There are also shows like Kraken, Voyager, Robin Hood, etc. The above exchanges are considered by users and investors as the best places to sell bitcoins. Low transaction fees and good security should be the two main factors to look for on any crypto currency exchange platform where you want to sell your BTC.
TO START WORKING ON THE PART
2. P2P exchange – without intermediaries
P2P exchanges are a great way to trade cryptocurrencies without going through the whole process. In a P2P exchange, buyers and sellers contact each other directly. If you want to sell your bitcoin at a certain price and the buyer wants to buy it at the same price, the transaction goes through.
One of the main disadvantages of P2P exchanges is that there is no middleman in the process. Therefore, you are responsible for the security of your financial data. Sometimes you may not find a buyer if the asking price is too high.
Remember to charge no more than 2.5-5% of the value of the coin in P2P exchanges. Although it is quite rare, you may have to sell your bitcoin for less than its market value if you need money urgently.
Another major disadvantage of direct trading is that it is a manual process. For transactions, you can set a sell limit or a buy limit. But with P2P trading back then, you have to do everything manually.
This may be a bit disappointing for those who are not American, as most altcoins experience growth when the US market wakes up. Generally, with a P2P exchange, the buyer transfers the amount directly to your bank account. However, you can also choose to put money in your wallet.
Many websites allow P2P file sharing. LocalBitcoins and Paxful are just two of the countless examples. If crypto currency exchanges have been suspended in your area or country, a P2P exchange may be the best way to sell bitcoins.
3. Bitcoin machines
Bitcoin ATMs are the same as regular cash machines. But every bitcoin distributor is connected to the internet. Bitcoin ATMs are one of the safest ways to exchange bitcoins. ATMs are not linked to a bank account. Instead, they take the money and send you bitcoins. If you want to hide your financial information from prying eyes, bitcoin ATMs can be an option.
Bitcoin ATMs are available in many countries such as the US, UK, Australia, etc. The disadvantage of this method is that you have to go out to sell your bitcoins or buy more.
Although they are rapidly gaining ground, the number of bitcoin ATMs is still limited. You may have to go to an ATM for a while to sell your bitcoins. Unlike other methods of exchange, Bitcoin ATMs are not available to everyone.
4. Family gift vouchers
Bitcoin gift cards are a way to let someone know you care. Not only can the recipient monetize the currency immediately, but they can also hold it as a long-term investment, which is a great idea given bitcoin’s price trends. Bitcoin gift cards are not only thoughtful, but ridiculously easy.
Generally, you need a card and a gift envelope to give money. But with Bitcoin, you can easily send them a gift card online. Bitcoin gift cards are available on various sites such as bit4coin.
The advantage of sending bitcoin gift cards is that the person doesn’t have to know everything about bitcoin. The platforms explain everything from redeeming a gift card to opening a wallet and storing the bitcoins you receive.
5. Depositing bitcoins into your pension account
Bitcoin has many uses and a limited supply. Many investors believe that the value of bitcoin will rise much more in the future. Transferring Bitcoins to your retirement account can be quite an investment. You could see significant gains in the future. Custodians or other investors often manage retirement accounts, also known as individual retirement accounts.
In addition, you can invest in many other things such as gold, land and of course bitcoin. To transfer bitcoins to your retirement account, you must first open an individual self-directed retirement account. This can be done via a secure electronic signature application.
Then you can transfer bitcoins to your account. The only drawback to this method is that you cannot use the bitcoins immediately. You have to wait until you’re 59 and a half years old. If you want to withdraw your bitcoin earlier, you will have to pay a penalty.
Best way to exchange bitcoins
Selling Bitcoins for cash can be a bit different, as most exchanges transfer the amount digitally. There are several services that offer a cash payment option. This method is the best way to disburse money when you need money in an emergency.
Localbitcoins is a popular service for selling BTC. It has a P2P exchange option that you can use to get money. Localbitcoins is one of the best P2P exchange sites in the crypto space. Transactions usually take place immediately if the buyer’s account has sufficient funds and all details are correct.
Localbitcoins allows you to get in touch directly with the person who wants to buy your bitcoin. If you agree, you can arrange a personal exchange with the person and get the money you so desperately need.
2. Local cryptography
Localcryptos is a reputable P2P platform that offers various ways to sell bitcoins. Depending on where you are, you can also pay in cash if there is a vendor in your country. We tested this option for several countries and found quite a few sellers.
Paxful is another great platform for crypto-currency connectivity. Buyers and sellers can connect with each other and exchange bitcoins. Paxivas only exchanges 1% of the transaction value in commission.
Packet servers are protected by high-level encryption algorithms, as well as many additional security features, such as two-factor authentication, security questions, etc. Paxful is a direct competitor to Localbitcoin. Both services have similar features and offer almost the same security and transaction costs.
Choose this option only if you don’t mind meeting in person. Make sure it is a neutral location and that no commercial activity is taking place. The last thing we want is for you to lose your savings/investments due to possible theft.
Bitcoin sales for PayPal
PayPal is one of the first merchants to accept bitcoins. PayPal first accepted bitcoin in 2016. Not much. The exchange platforms have this feature that allows you to convert and deposit your bitcoins directly to PayPal.
With Coinbase, you can fund your wallet with BTC and withdraw USD directly to your PayPal account. The base of the coin also has a few other features that we mentioned earlier. You can also trade BTC with other cryptocurrencies through Coinbase.
Using Coinbase to transfer money to PayPal is very easy. First of all, you need a Coinbase account. Then move all the bitcoins you want to liquidate into your Coinbase account.
Now when you sell BTC, you can simply choose PayPal as your payment method and the amount will be transferred to your PayPal account.
Bitpanda is an Austrian cryptocurrency platform with a decent user base. Using Bitpanda to sell BTC against PayPal is also pretty easy. First of all, you must have a Bitpanda account. As with Coinbase, choose PayPal as your payment method at the time of sale and enter your PayPal address to deposit funds into your PayPal account.
Conclusion – Choose the best way to sell bitcoins!
Selling Bitcoins can seem like a real challenge, especially when it comes to P2P exchanges, Paypal exchanges and everything else. Rest assured, after a few times you will get used to it. Sometimes it takes a while for a crypto currency exchange platform to process your payments. Make sure you wait enough time (usually indicated on the exchange platform’s website) before calling customer service.
frequently asked questions
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