How to Sell Bitcoin?
How to sell Bitcoin? If you have bought or received Bitcoin in other ways, you’re probably wondering how to change it to cash. Good news! It is rather easy as there are many different ways how you can go about it.
How to sell Bitcoin?
You can sell Bitcoins both online via exchanges and peer-to-peer platforms, and offline by meeting a buyer in person. You might also do so using a Bitcoin ATM. Besides, how to sell Bitcoin in different jurisdictions also depends on local regulations - be sure to check those beforehand!
The fees and BTC price will differ, as will the levels of security, privacy, and convenience.
Selling Bitcoins on an exchange
Most fiat-to-crypto exchanges require you to disclose your identity and pay a transaction fee. The exchange’s matching engine will take care of your sell order – you won’t need to deal with a buyer directly. Such exchanges include:
Using peer-to-peer platforms
Here you may also be required to verify your identity, and, unlike on an exchange, you need to find a buyer yourself. Platforms like Localbitcoins.com or Paxful can help you 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.
However, be aware 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
The answer to the question like how to sell Bitcoins for cash is more tricky if you seek complete anonymity. You can find a local buyer on the above-mentioned peer-to-peer platforms like LocalBitcoins or Paxful or at local Bitcoin enthusiasts meetups.
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.
Selling 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 up to 7%, which is expensive compared to other methods of selling Bitcoins.
These are the different options on how you can convert your Bitcoins into fiat currency of your choice. Most of these options work if you want to buy Bitcoin, too.
Last but not least, Bitcoin is a global currency, so you can exchange your BTC for good and services at a growing number of retailers all around the world.
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