How to Sell Bitcoin

September 16th, 2021

How to Sell Bitcoin

‘How to sell bitcoin?’

This is one of the first things people ask when they become interested in the cryptocurrency game.

Just like there are different channels to buy bitcoin, there are several ways to sell bitcoin as well. These include both online and in-person avenues.

In this post, we are going to talk in detail about all those avenues. Once you know about them, you can decide for yourself which is the easiest way for you to sell bitcoin.

So, let us start.

3 Easy Ways to Sell Bitcoin 

  1. Crypto Exchanges

One of the most popular, and easiest ways to sell bitcoin is through cryptocurrency exchanges.

Don’t know what a cryptocurrency exchange is?

You can think of them as an intermediary who holds the buyers’ and sellers’ funds during the transaction.

Crypto exchanges work as a one-stop solution for bitcoin transactions.

There are several reliable crypto exchanges out there, which you can try.

For instance, you can go to Bitcoin of America – one of the fastest-growing crypto exchanges in the country. The exchange not only offers several payment methods for getting money by selling bitcoins, but it is also one of the easiest to operate as well.

Crypto exchanges require to register with them and create an online account. Let’s explain the process step by step:

  • Set up an account online
  • Verify your identity by providing a government ID proof

If you want to withdraw cash, you must connect your bank account to the exchange

Once the account is set up, you can easily start buying or selling bitcoin online.

Be mindful that bitcoin transactions involving cash withdrawal may take considerable time. Also, there can be a withdrawal fee applicable as well (varies from one exchange to another).

  1. Bitcoin ATMs

How to sell bitcoin on an ATM?

If you are wondering this, then we’ve got all the answers here.

This method has been getting all the hype for bitcoin transactions in recent times.

A bitcoin ATM looks similar to a conventional ATM, but don’t get confused.

Bitcoin ATMs, unlike conventional ATMs, are not connected to a user’s bank account. These machines operate online and are used to carry out crypto transactions.

Thousands of these ATMs have been set up all across the world now.

Just in case you are wondering how to find one, then you can go to Bitcoin of America and easily find one. Just enter your preferred location, and it will provide you with the complete list of ATMs near you.

There are different types of Bitcoin ATMs set up in the market. While some allow only one option i.e. to sell bitcoin, there are others that allow you to buy and sell.

One of the prime requirements to operate a bitcoin ATM is to have a bitcoin wallet. If you have a bitcoin wallet, you can simply scan it on the ATM and create your trade.

If you have a wallet, here’s how the process will work:

  • Register yourself on the ATM by providing information like name, phone number, email address
  • Provide a government-approved, valid identity proof (scan it on the screen to get it instantly verified)
  • Scan your Bitcoin wallet code

And that’s about it.

Operating a Bitcoin ATM is easy. You don’t have to go through any complicated process. And, it is completely safe.

If you don’t have a bitcoin wallet, then you can easily create one using the Bitcoin of America App. It is a highly trusted online bitcoin wallet that keeps all your crypto safe and secure.

Be mindful that when you are selling bitcoin using these ATMs, you might incur additional charges per trade. These charges vary according to the Bitcoin ATM service provider. So, you need to vary of this.

  1. In-person selling of bitcoin

Another popular way to sell bitcoins is direct trading.

In direct trading, you are dealing directly with another person or an online entity for selling your cryptocurrency. There are specialized online platforms that aid you in this.

Direct trades can further be categorized into:

  • Face to face transactions 

The first method of direct trading in person is face-to-face selling.

Two of the most important things to consider when dealing in a face to face bitcoin transactions are – i) bitcoin prices are prone to fluctuation, so you must know the exact price of bitcoin at the time of trading, ii) you must understand how bitcoin wallets work and how to sell bitcoin using them during your in-person meeting

Considering the rising popularity of cryptocurrency, there has been a rise of physical shops that are intended to facilities face facing bitcoin transactions.

Also, don’t forget to exercise caution when arranging for a bitcoin trade with a stranger face to face. There can be serious risks involved, just like it is with any other financial transaction with a stranger.

  • In-person online selling 

The second way of direct trading of bitcoins is selling to another person online.

There are specialized platforms and products in the market that facilitate the same. Here’s how it works:

  • Bitcoin enthusiast post their requirement of buying or selling on these platforms, quoting their desired price, and preferred payment option
  • Interested parties can contact them

Each of these platforms offers its specific instruction for carrying out bitcoin transactions. Depending upon the trade requirement, you can sell your bitcoin and receive the money in your preferred payment method.

Are you ready to sell bitcoin like a pro?

Now that you have an idea of how to sell bitcoin, you can go ahead and do it like a pro.

Whatever method you choose for selling bitcoin, just remember to practice caution. In case you are carrying out the transaction online on any bitcoin exchange, don’t forget to read about their transaction charges, and the time taken for the transfer of money.

It’s all about being smart with your bitcoin transaction. There’s always a little bit of risk involved, however, if you carry out things with caution, you don’t have to worry about anything.

So, are you ready to sell bitcoin and make some good profits?

Forecasts, estimates and other information included in this blog should not be considered as investment advice or as a recommendation that you purchase any cryptocurrency or any particular investment product. Past performance is not indicative of future results. The author of this blog and Bitcoin of America in no way guarantee any specific outcome, gain, or profit.

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