You can sell bitcoins online via exchanges and peer-to-peer platforms, and offline by meeting a buyer in person. You might also be able to do so using a Bitcoin ATM.
The fees and price will differ, as will levels of security, privacy, and convenience.
Selling bitcoins on an exchange:
Here you need to disclose your identity and pay a transaction fee. The exchange will take care of your sell order – you won’t need to deal with a buyer directly.
(Read our reviews of top exchanges and compare their rates here.)
Using peer-to-peer platforms:
Here you may also be required to verify your identity, but, unlike on an exchange, you as a seller need to find a buyer yourself. Such platforms, like localbitcoins.com for example, help you to find a buyer and determine the most suitable method of payment.
These platforms can also help you find a buyer if you want to sell bitcoins in person and get cash immediately.
Note, however, that the price one gets for bitcoins when using this type of platform may be lower than, for example, on an exchange. At the same time, fees may also be smaller.
Selling bitcoins face-to-face for cash:
You can find a local buyer on the peer-to-peer platforms mentioned above or, for example, at meetups of local Bitcoin enthusiasts. Platforms usually provide other people’s feedback about buyers, which helps you judge whether they’re trustworthy and safe to meet. When you do meet, the sale is carried out by scanning a QR code on the phone and accepting cash in hand.
Exchanging bitcoins for cash at an ATM:
Sites like coinatmradar.com let you check whether there’s a Bitcoin ATM nearby that you can use to exchange digital currency for cash. The fees here can reach about 7%, which is expensive compared to other methods of selling bitcoins.
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