In order to sell your Bitcoins there are many ways. You can find someone who is willing to buy your Bitcoins on a P2P exchange, sell it to a cryptocurrency exchange or use a Bitcoin ATMs, which accepts cash in exchange with Bitcoin. In this article we are going talk about the different methods you can use in order to sell your Bitcoins. Let’s see how to sell Bitcoin?
How To Sell Bitcoin?; Cryptocurrency exchanges
Exchanges are one the most common ways to sell Bitcoin. In fact, this is the most reliable option, if, you choose a reputable exchange. The first step is to create an account on the desired exchange website. Then, most reliable and reputable exchanges will ask you to complete the AML/KYC procedure. You need to upload your documents to prove your identity. The next step is to connect your bank account to the exchange, so you can withdraw directly to your bank account.
Once you completed the procedure, just simply send a sell offer. After that, you will receive the exact chosen amount into your account on the exchange. The next step is to withdraw it in cash to your connected bank account. Keep in mind that exchanges will charge customers a percentage for each withdrawal. This percentage is varying from exchange to exchange. Some may also have a limit for withdrawal. In case, you are looking for a reliable exchange to sell your Bitcoins, Wallebi could be a suitable choice. Wallebi doesn’t have any limit for withdrawal and has a user-friendly interface.
Direct trade on P2P exchanges
Another way to sell your Bitcoins is finding someone who is willing to buy your coins and have a direct trade. For this purpose, you can choose one of P2P exchanges in order to find the right person. In this case also you need to create an account on the exchange website and fully verify your identity. Once, your account is verified, you can post an offer in order to show you are willing to sell your Bitcoins. When a buyer wants to buy your Bitcoins, you will receive a notification from the website. You will connect directly to the buyer and do the transaction. In this case, the buyer transfers the money to your bank account and you will send your Bitcoins to them.
How To Sell Bitcoin?; Using a Bitcoin ATM
Using Bitcoin ATM’s is another way to sell your Bitcoins. But, not all Bitcoin ATMs accept cash. In fact, Bitcoin ATMs work different from traditional ATMs. In this case the ATM is connected the internet in order to be able to perform the Bitcoin transactions.
To use a Bitcoin ATM also you need to verify your identity. It depends on the ATM provider that ask you for verification or not. Once you verified your identity the machine will give a QR-code, which you have to send your Bitcoins to. When you transferred your Bitcoins to the given address, you need to wait for confirmations. Usually a transaction requires 6 confirmations. After that, you can take the cash directly from the machine (if the machine you are using provide this option) or transfer it to your bank account.
Selling Bitcoin in person
This method is one of the easy ways to sell your Bitcoin. In this case, you can find a friend or even a stranger who is willing to buy your Bitcoins. But, you need to be careful that who are you dealing with? In fact, you have to make sure that the person you chose to have transaction with is trust-worthy. After you found the right person, you will set a meeting with them. After that, you just send your Bitcoins to their wallet address by entering the address or scanning the QR-code. In return, the receiver will give you the exact amount of cash or even can transfer it to your bank account.