If you’re investing in cryptocurrencies, you should try to understand How To Sell Bitcoin as well as make purchases too. Knowing when to acquire your profits is very important and being able to do so is more important. So, in this article, we will break down the technical fundamentals for you, like the way to sell Bitcoin.
There are alternative ways to go about it, depending on whether you seek to sell on an exchange or directly. But here are some steps needed to sell your Bitcoin fast and with ease.
How To Sell Bitcoin
If you’d rather have more of a hand within the actual sale process, direct trades (or peer-to-peer trades) are possible alternatives. You are required to register, which in some cases will mean confirming your identity.
Just like all methods on How To Sell Bitcoin, it is recommended that you get your exchange account created earlier. Once your account is set-up, you can now be able to sell your Bitcoins in a much more direct manner.
Register For An Exchange Account
The simplest way to sell or buy bitcoin is through an Exchange platform. The Exchange Account acts as a middle party and brings a buyer or a seller to you.
Some of the most popular exchange accounts are Blockchain, Coinbase, Luno, etc. you just have to create an account by registering. You might be required to verify your account by using an ID.
Most of these Exchange account requires users to link their bank account to the exchange account.
Transfer Bitcoin To Your Exchange Wallet
To trade on some of the exchange platforms, you will need to send our Bitcoin to an exchange wallet. Keeping it there means it’s ready for sale.
It is advisable to use the Coinbase platform as it provides beginner guidelines. This platform is advisable because it provides excellent security and advanced technology.
Select The Sell Option
With your exchange wallet ready, linked to your bank, and bitcoin deposited in it, you are ready to make a sale. The Buy/Sell option is majorly displayed on most of the exchange platforms menu.
If your bank is linked to your exchange platform, then you will be able to access the direct transfer to your bank method. You just have to check your exchange wallet to know how much worth of bitcoin you have, and how much you want to sell.
Bitcoin automates trades between the two parties when it involves exchanges. But the method for selling may be a bit different. Once you sell, the transaction occurs directly between seller and buyer.
You set up a sell order for a selected value. And also, the site notifies you when someone shows interest in buying at the agreed-upon price.
Then you’ll proceed with the transaction, and both parties will have to agree on a term. The person selling the bitcoin receives payment from his/her buyer, then the seller releases the cryptocurrency to the customer.
More Related Content
- Bitcoin News – What is the Present Bitcoin Price
- Paxful – How to Buy and Sell Bitcoin Online Using Paxful
- Buy Bitcoins with Payoneer – Payoneer Account | How to Buy Bitcoins with Payoneer
- Can PayPal Buy Bitcoin – How to Buy Bitcoin with PayPal
- BitPay for Android – BitPay Online Payment and How Does it Work