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 start 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.
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:
Log in to Bitcoin of America and click on ‘Sell” and then click ‘’Wire Transfer’’
Enter your bank name , followed by the account holder name, your bank routing number then enter your bank account number
Sign your name, click on the tiny square space at the bottom left side to agree with the terms of sale and then click ‘’SELL’’. Afterwards, send BTC to the address provided.
Bitcoin and other cryptocurrencies have become an everyday norm around the globe. These technologies continue turning the financial industry through their astonishing potentials. The cryptocurrency market has attacked many players who have found various ways to engage in the space. These digital currencies can be exchanged for local fiats, for other cryptos, or used as investment instruments among many more.
One common practice is the buying and selling of Bitcoin and other cryptos through different avenues. As more players join the industry, new ideas and methods are being incorporated. One such idea is the use of Prepaid Visa in selling Bitcoins. Bitcoin Prepaid Visa cards allow users to load up the card using BTC, which is then converted to fiats such as USD, EUR or any other fiat. Users can link the card to their fiat accounts to allow access to both crypto and fiat transactions.
The flexibility of these cards has helped many bitcoin traders to use them in receiving their funds. They are user-friendly and come with many advantages.
This idea is relatively new with only a few players allowing traders to use prepaid cards for the trade. Some like Bitcoin of America, who recently launched their bitcoin prepaid card are looking for ways to make the card suits users needs. Like your standard prepaid cards, this also allows traders to sell their Bitcoins and have the funds loaded onto a prepaid credit card.
A step-by-step guide to selling bitcoin to a prepaid card:
1) Open an account
The first step is to create an online account with exchanges that support prepaid card services. You will need to make sure your account gets verified so you can start selling Bitcoin or other cryptocurrencies for a prepaid card. To get started on Bitcoin of America, you need to click on the get started button then fill in the details.
2) Create a trade
Once you create an account, open up the TRADE page and select the amount you wish to sell for a Prepaid card. Generally, the minimum amount you can receive in your card is $25.00 and a maximum of $1999.00.
3) Enter an email address
Enter an email address you would like to receive your Prepaid card. After keying in your email, you will need to sing in your name, read and accept terms of services. Finally hit the sell button.
4) Wait for the card
Some exchanges like Bitcoin of America offer INSTANT money when you choose the prepaid card option.
5) Spend your money
Once you receive the card, you can use it online or obtain a physical card in the mail. Remember to select prepared Visa as the method to get payments for your sales.
Benefits of using Prepaid Credit CardThere are many benefits to using these cards to sell bitcoins. Firstly, selling bitcoins using the cards allows users to get their funds instantly. Some exchanges offer same-day transaction enabling users to get their funds within 3 minutes. This is very convenient especially if one is needed to use the funds immediately. It eliminates the hustle of waiting days to get your money.
Secondly, one can immediately start using the card once they are approved. Additionally, the card can be used across the globe to make purchases of goods and services. People using this method are also allowed to load up to $1999 per card. Some users have used these cards as a means to continue their investments in cryptocurrency.
Bitcoin sale has become a common thing. There are numerous bitcoin sellers across the globe helping people buy the cryptocurrency. People can purchase bitcoin through peer to peer transaction or through local brokers or online exchanges.
A step-by-step guide to selling bitcoin to PayPal.
1) Open an account
Firstly, create an online account with Bitcoin of America. The process is quite simple and will take a few minutes. To get started on Bitcoin of America, you need to click on the get started button. This will open a new page that you will be required to fill in the details. Once you are done, submit your details. You are required to make sure that your account gets verified so you can start selling Bitcoin or other cryptocurrencies.
2) Create a trade
Once you create an account with the exchange, on the home page, click on the TRADE button and select the amount you wish to sell. The exchange has a limit of the amount of money you can trade. The minimum amount you can receive in your card is $25.00 and a maximum of $1999.00.
3) Select the payment method
There are four payment avenues on the exchange you can select. These are Wire Transfer, PayPal, and Prepaid Card. Select PayPal as your payment option. Fill in your PayPal email and sign your name. Once you are done read and check on the sales terms.
4) Click on sell
Once you sign your name, click on the sell button and wait for the payment to be sent straight to your PayPal account.
Genesis1 Bitcoin machines are available in many kiosks and operating this machine is easy. With this Bitcoin machine, you can perform both the buying and selling of digital currencies. The selling of Bitcoin process varies from one ATM to another as these devices support white labeling. This means whatever you are seeing on the screen can actually be different from one operator to another. Here is an example of selling this new digital currency using one of the Bitcoin ATM in Cleveland, Ohio machines:
1) Select the option “Withdraw Cash.”
2) Select Bitcoin (at times these machines may support other cryptocurrencies too).
3) Select the amount you want to withdraw.
4) Now send the Bitcoins to any given address QR code.
5) Now within a few seconds, you will receive cash as Bitcoin transactions are propagated on the network
Another important aspect about this particular Bitcoin ATM in Cleveland, Ohio machine is that it supports different verification techniques including finger scanning and phone verification. Some of the operators may keep these features enabled, so be prepared.