People are still not aware of selling or buying Bitcoins and other cryptocurrencies. Thus, it may seem confusing at first, but it is not. It is easy to sell and buy Bitcoins within just a few steps. However, selling Bitcoins is almost the same as buying them. But, to proceed with either part of the transaction, you need to have Bitcoins-evolution in your digital wallet.
Moreover, making a suitable investment is highly crucial, whether Bitcoin or other cryptocurrencies. So, for that, you can download the Bitcoin Era app on your phone and learn everything gradually. This article will highlight the details on how you can sell Bitcoin most efficiently.
Options to sell your cryptocurrency to get cash
These are some crucial options to easily exchange your Bitcoins with Cash. Have a look at them below.
Exchange in Cryptocurrency
You can find various cryptocurrency exchanges to trade your Bitcoins. These exchanges behave like an intermediary that holds the funds of buyers and sellers. However, you need to have an account with any platform for using any cryptocurrency exchange. Hence, you only need to add your bank account to withdraw your cash. Then, complete the verification process to move further.
But, before that, you need to the restrictions regarding crypto exchange in your country. Remember that selling and buying Bitcoin can be harder, depending on the process and type. It is mainly because several platforms don’t allow exchange from specific regions.
Process of Direct Trading of Bitcoin
Secondly, you can also trade Bitcoin through a direct process. You can trade easily whether you are online or offline.These are the following options for direct Bitcoin trading.
Peer-to-Peer selling of Bitcoin
There are P2P options as well to sell Bitcoin through specialized platforms. The buyers have to post the listing with the price and payment options. Then, the interested parties will come up and then buy the Bitcoins according to the instructions.
Subsequently, these P2P platforms have significant functions to ensure security for both parties. So, you can do Bitcoin transactions securely and quickly.
Transactions through Face-to-Face Methods
Another feasible method is by selling Bitcoins through the face-to-face method. In this method, the parties plan to meet each other and then plan the process of trading Bitcoin. However, you need to have a digital or crypto wallet to complete the process successfully. Also, the price of Bitcoin value is highly vulnerable. So, it is crucial to know the prices while making the sale.
Apart from that, several countries already have physical locations to exchange Bitcoins with cash. You also need to know that you can sell Bitcoins at various prices depending on the exchange and region. Also, you must remain in any potential danger when exchanging with strangers.
Don’t confuse the Bitcoin ATMs with traditional ATMs. They are linked with the internet rather than the bank account. In these Bitcoin ATMs, you have to scan the QR code of the wallet and then sell your Bitcoin. Through this exchange, you will get cash. Moreover, the transaction fees are very high at Bitcoin ATMs compared with other methods.
Many Bitcoin ATMs ask users to possess their bank accounts already. It is because the registration process is thorough. Also, the operators of Bitcoin ATMs should adjust the setting as per the jurisdiction. Furthermore, it depends on the ATMs whether you will get instant cash or not. Otherwise, you have to wait for the confirmation of the transaction. You may need to get around six confirmations to complete the process to withdraw the cash.
Withdrawal of Funds
You can also get cash for trading Bitcoins by withdrawing them from any bank account. This happens through ACH or wire transfer after selling the Bitcoin. You can also transfer the money using different services that transfer them into Euro. However there can be a difference of wait time based on your country and the platform that you are using.
In conclusion, these are the easy steps to sell Bitcoins and receive cash. Make sure to consult an expert before understanding the process in more depth. Also, it is crucial to know about the laws of your region before starting a Bitcoin investment.