April 11th, 2019
If you are looking to sell your Bitcoin (BTC) this article is for you. Selling BTC through wire transfer can be one of the fastest and safest way of transferring BTC from one source to another. However, you need to be careful and always do your research venturing into this business.
There are a few tips to consider to make sure you avoid losing your crypto. Some of these tips include, having a good reason to starting trading before entering a trade deal, setting goals and knowing how to manage risks.
What is Wire Transfer?
Wire transfer is simply electronic transfer of coins across a network that is administered by several banks or transfer service agencies across the globe. It is considered the safest and most convenient way of transferring BTC due to the coins electronic nature.
Wire transfer allows users to transmit funds to individuals and financial institutions as well. So as to ensure fiat currency or cryptocurrency is not being wired to terrorist groups, illegal dealers, or for money laundering, wire transfer platforms are usually monitored by the Office of Foreign Assets Control.
Many people usually confuse the terms wire transfers and bank transfers. It should be noted that there are several modes of wire transfers; bank transfer is just one of them. To sell BTC you must have a wallet. The wallet details are necessary when selling BTC.
Here’s a few tips on how to sell Bitcoin
Find a good and reliable selling platform
There are several existing online platforms that enable transfer and selling of BTC. Finding a good site will enable you to safely sell your coins to authentic buyers. Ensure that you read through the websites security system. This will prevent unnecessary worries on hacking and scam dealers. Some of the well known sites that enable selling include Bitcoin of America.
1. Create an account with the site
You must create a personal account for you to sell the BTC. This will enable you access the services offered in the websites. Log in to your personalized account.
2. Click on the sell page
The website will direct you on what you wish to do, whether sell or buy. Click on to the sell option.
3. Specify the amount of BTC you wish to sell
You will have to key in the amount of coins you wish to sell before you can proceed to the next option.
4. Select the wallet you are selling from
As stated earlier, there are different types of Bitcoin wallets; here you will have to select the exact wallet to enable a deduction of BTC from your account.
5. Review the details
Ensure you have reviewed the information you have given. This will reduce the unnecessary mistakes.
6. Lastly, you can now select sell.
Selling BTC through wire transfer is quite easy. You only need to be keen on the security details.
To sell BTC via Wire Transfer, follow the easy steps below;