Bitcoin is a digital asset that exists and operates within a cryptographic key system. All that being said and done, you might be delighted to know, you can liquidate your bitcoin earnings. There is numerous information on the websites that tell you how to buy bitcoins, but little tell you on how to sell them. Without knowing how to sell them, you might not be able to do proper trading from which you can reap benefits. To sell bitcoins, there are several options that one can choose from. In this article, we guide you through the top 5 ways to sell bitcoins:
1. Private sale
For individuals you know who trade in bitcoins, you can sell bitcoins to an individual in return of cash. Ask them to transfer the money to your bank account, and then you can withdraw the money or keep it in your bank account. The private sale has numerous advantages as first, there is reliability and trust. Secondly, there’s also familiarity, so you know you would not be duped. Thirdly, there are no fees or exchange remuneration involved, which makes it a further preferable choice. If you’re wondering how you can negotiate the price, take help of Bitcoin Price Index.
Fluctuations in bitcoin valuation are common, and differences might exist on the basis of country’s fiat currency and its exchange rate, as well. Also, there are numerous local Bitcoin meet-ups which happen in Bitcoin pools, where people buy and sell bitcoins, at acceptable and agreed rates. So, you can check them out too!
2. Bitcoin ATMs
Like regular ATMs, there are bitcoin ATMs that exist around the globe. Most major cities around the world have these special ATMs, from where you can withdraw money in exchange of your bitcoin value. The one disadvantage it comes with is it has certain limits placed on the transactions you can do, but the biggest advantage is accessibility and ease, with which, you can withdraw the cash. To locate a bitcoin ATM around you, you can check out the bitcoin ATM maps available. They give you specific location details about the ATMs and what sort of proof you’re required to carry, to make exchange transactions.
3. Sell around the entire world
Selling around the entire world has the biggest advantage in the fact that it’s very easy to find buyers for your bitcoins. But, to do so, you need to be a part of a bitcoin exchange page, that helps you sell to anyone you want across borders. CoinBase is a service provider that has existed for a while. Known for its reliability and availability in numerous countries, it is an option you can explore to help you sell in different parts of the globe. But, the options are numerous. You should just be a little safe when you’re investing your time and effort in any of these bitcoin exchange pages, as sometimes, they can turn out to be scams. For trading in all CFDs, experts recommend local bitcoin exchange pages like Crypto Genius, as well.
The reason it exists, and is deemed so popular and prominent, is the amount of security it comes entangled with. It ensures your bitcoins are safe, and the selling and trading you do is absolutely legitimate. From here, you can directly transfer the money to your bank account, and liquidate your bitcoin earnings. These pages need you to set up an exchange account. The registration you need to do is simple and easy, and it hardly takes a minute. Be aware of the rules and terms of service, and customer rules you need to abide by, so that later there are no complications.
4. Online P2P Trading
Peer to peer trading, when it concerns bitcoin and the world of cryptocurrency, is new. But, this is an effective way to sell your bitcoins, especially when you’re trying to buy goods with bitcoins, where they aren’t accepted as legitimate currency. This is a service designed for people who would like to buy bitcoins, using credit cards, the websites which provide users with this particular service gives them a wallet to store the bitcoins with an escrow service, for the particular transaction.
5. Use LocalBitcoins
If you want to make in-cash transactions, and you do not know any legitimate buyers in your area, you can take the help of LocalBitcoins, to locate places and people around you. You can make online transactions, and exchanges, too. KYC verification is done, so it is a secure process, and you don’t need to worry about counterfeit. However, we suggest for in-person exchanges, you might want to invest in a ultra-violet counterfeit bill detector so that when you’re taking cash transactions, you’re not duped. There’s no other way to ascertain fast whether all the bills you’re being provided are genuine.