How to Sell Bitcoin
Have you ever wondered how to sell Bitcoin? If so, you’re not alone. Right now, Bitcoin is taking over the world with more and more people wanting to get on board.
If you have purchased or received any Bitcoin or are just wondering how the process works, the next step is to know how to sell Bitcoin. The good news is that there are many different ways you can go about it, and all will be explained right now!
Let’s take a look!
How to Sell Bitcoin
Selling Bitcoin is fairly straightforward. You can choose to sell Bitcoins both online via exchanges and peer-to-peer platforms, or offline by simply meeting a buyer in person. You may also use a Bitcoin ATM. However, you must know how to sell Bitcoin in different jurisdictions.
Take the time to also learn about your local regulations beforehand. The fees will differ as well as the levels of privacy, security, and convenience.
Selling Bitcoins on an Exchange
You may need to disclose your identity as well as pay a transactions fee with most fiat-to-crypto exchanges. The matching engine of the exchange will take care of your sell order which means you won’t have to deal with a buyer directly. Exchanges include:
How to Sell Bitcoin with Peer-to-Peer Platforms
As with exchanges, peer-to-peer platforms will also need you to verify your identity. However, unlike an exchange, you will need to search for a buyer yourself. Platforms such as Paxful and Localbitcoins.com can help you find a suitable buyer and determine the best method of payment.
If you want cash immediately, the platforms above can help you with this. However, you must remember that the price someone gets for Bitcoins may be different from what you get.
Selling Bitcoins Face-to-Face for Cash
Learning how to sell Bitcoin for cash can be trickier if you are looking for anonymity. You can easily find a buyer online with the peer-to-peer platforms mentioned above. You may also find a buyer at a local Bitcoin enthusiast convention.
However, platforms remain the safest option as the buyers often have feedback connected to them to see if they’re trustworthy enough to meet.
Selling Bitcoins for Cash at an ATM
Sites such as Coinatmradar.com will let you check if there is a Bitcoin ATM near you. The fees at Bitcoin ATMs can often reach up to roughly 7% which is rather expensing when you consider the other methods of selling Bitcoins. However, if you are happy to foot the fee, ATMs can be a great way to sell your Bitcoins.
The Bottom Line
When it comes to how to sell Bitcoin, there are many different ways for you to convert your Bitcoins into fiat currency. Most of these options will also help you if you’re looking to buy Bitcoin. It is important to remember that Bitcoin is a global currency and is able to be exchanged for goods and services at many retailers worldwide.
Editor-in-Chief of the BitcoinWisdom site, I'm responsible for ensuring all the content on our website is accurate, relevant, and helpful. I am a cryptocurrency advocate and I have been following the crypto space since early 2012. I have written extensively about Bitcoin and my work has appeared in some of the most respected publications.
