Best way to sell your bitcoin

best way to sell your bitcoin

Probably the most common method for selling your Bitcoins would be via a wire transfer or some other form of transfer to your bank account (e.g. SEPA, ACH, etc.). To cash out your funds, you first need to sell your cryptocurrency for cash, then you can either transfer the funds to your bank or buy more crypto. Coinbase is a secure online platform for buying, selling, transferring, Coinbase is the easiest place to buy and sell cryptocurrency. WHAT IS AN ETHEREUM MINING RIGS

However, this is still a good step if freedom of choice and minimal interference are your priorities while still having access to things like escrows to hold the bitcoin for protection from fraud. A good exchange is fine, but if you want to avoid any prying eyes, then cash is the way to go. Much like a regular ATM, these machines let you enter your bitcoin wallet address and withdraw cash.

You can also use these ATMs to buy bitcoin. However, you are very dependent on there being one near you. Of course, if you really want to stop people from tracking you, then trade in person. You give the person some cash, and they give you access to a wallet of coins or send you the bitcoin online.

Because of this, in-person bitcoin transactions are much riskier than any online exchanges, and you should be careful if you choose this option. Going through an exchange is the quickest and easiest way to sell. This is because the cryptocurrency exchange does all the hard work of setting a good price and finding a random person looking to buy bitcoin for this price.

Click this to open the buy and sell screen. Using a peer-to-peer marketplace is a little harder than other methods, but it gets around the transaction fees and limitations of going through an exchange. You can also set specifications like the amount or payment method. Scroll down until you find a buyer with a price, payment limit and payment method that suits you. Remember that depending on the platform, you may not be able to withdraw this offer.

There are three main options for withdrawing funds from online wallets. However, be aware that the trading platform will have a different withdrawal fee depending on which you choose, so be sure to look at that before deciding on a method. This is a step that most exchanges have to take to follow anti-money laundering laws. The most basic way to withdraw funds is to move them to your bank account.

This is normally either in your wallet or on your main account page. Sometimes, you might prefer to use a third-party payment service — perhaps to keep the funds separate from your bank, keep your bank details off of the exchange or just to make use of a low flat fee. However, this time, you need to select the payment service — such as PayPal or Faster Payments — instead of a bank account. When you find one, you can use these machines like you would use a traditional ATM.

The only difference is that rather than inserting a debit card and PIN, you type in your bitcoin address. This also holds true for selling bitcoin, which you can now do in an instant for market price.

However, no amount of trading knowledge can save you from the losses cybercrime can cause. You also need solid password stored in a safe password manager to make it harder for someone to get into your exchange account. Have you got bitcoin you want to sell? Which of these methods did you use? Did we miss your preferred way to sell bitcoin? Let us know your thoughts in the comments section below.

Thanks for reading. Fantastic Post! You have mentioned very nice points for Bitcoin Payment Methods. I appreciate it! In my case from Ghana Africa, coinbase is saying I cannot sell my bitcoin because my country does not support selling so I can only hold or send. Please kindly help me with more explanation to this. Thank you for all the info that you mentioned. Once you have chosen a cryptocurrency exchange to sell your Bitcoin, you will need to create an account.

Find the sign-up or register button on the homepage then do the following:. You will then have to go through the KYC process to verify your identity. We've outlined the basic steps below, but more in-depth instructions can be found in our KYC-guide. The next step is to deposit your BTC on the exchange in order to sell it.

In order to do this, follow these steps:. Now that your Bitcoin is in your exchange account, you can sell it. There are a few different ways to sell BTC through an exchange: instant sell, market order and limit order. It is important to remember that you can sell Bitcoin for fiat or for other crypto coins and tokens. In order to do an instant sell, you will have to have previously connected a bank account or withdrawal destination.

Instant sales tend to have the highest fees and are made at market price. Overall, you net less than using the spot market. With instant sale options, you are paying for convenience and speed. Generally, you choose how much to sell and where to deposit. You will get a preview of the transaction so you can check the details. Once you've confirmed the details, you can finalize the sale.

In order to access the market and limit orders on a crypto exchange, you will need to navigate to either "spot trading", "trade" or "markets". How the trading interface is labeled varies by exchange. While there are often more trading options than just market and limit orders, they are the most common. When selling Bitcoin through spot trading, you can sell it for fiat pegged stablecoins or other digital assets.

If using a market order, simply choose how much BTC to sell and then place the order. If using a limit order, choose how much BTC to sell and at what price, then wait for the order to be filled. You can cancel your order at any time if it's unfilled. When trying to sell Bitcoin through a platform that permits fiat currency withdrawals, check to see what withdrawal methods are supported.

Options may include the following:. The best way to sell Bitcoin is subjective and varies based on your circumstances. What works well for one person might not be a good fit for the next. Instead, it's about working out which option is the right choice for you. You can do this by asking yourself a few important questions:. These questions should help you decide how you want to sell your Bitcoin, and you can then figure out which platform has all the features you need.

When comparing different cryptocurrency exchanges, make sure you consider the following:. There are several other important factors, such as where an exchange is regulated and the payment methods accepted by peer-to-peer trading sites. For a full breakdown of the features to look out for, check out Finder's cryptocurrency exchange guide and discover tips on how to choose the right platform.

Peer-to-peer or P2P marketplaces are one of the most popular alternative ways to sell Bitcoin. P2P exchanges require no identity verification, allow you to browse through buyers and see offers for each type of accepted payment method. They also do not require you to give up custody of your funds.

To sell your BTC on a P2P marketplace, you simply register, post what you have for sale, how much you want for it and acceptable payment methods. You will need to note any extra fees as well. Then you wait for a buyer to contact you. P2P sales are done using arbitrators and escrow and are surprisingly safe to do.

There is a P2P marketplace built into Binance, but there are other options such as Localbitcoins. Be sure to research any P2P marketplace before using it. This does not include any fees you as the seller set for the buyer. Bitcoin ATMs are an increasingly common sight around the world.

These kiosks used to only allow the purchase of BTC with a credit or debit card. Nowadays, they often allow for both purchases and sales. You can find Bitcoin ATMs in just about every city, though they are often not all that convenient to get to. In addition, fees charged through Bitcoin ATMs are often much higher than any other option, with 6. Now might be a good time to sell Bitcoin, but it depends on a number of factors. Check out our Bitcoin price analysis.

Yes, you can sell Bitcoin for fiat. You can also sell it for any other paired crypto coin or token. The trading pairs available for Bitcoin vary by exchange. Yes, you can sell your Bitcoin instantly using the sell crypto or similarly labeled interface. Fees are higher for using instant sell options, meaning you net less. Each selling method has varying fees that affect your net received in your account of choice. No, it is not hard to sell Bitcoin.

It has the highest daily trading volume of any crypto asset and is sellable through a ton of avenues. The easiest way to sell it is through an exchange. Is Bitcoin mining still a profitable venture? In this article we explain the basics, outline the steps involved and discuss the costs to consider. Find the best Bitcoin wallets that have what you need for features, security and convenience in our up-to-date list of the best BTC wallets.

A panel of 33 industry specialists give us their predictions on the price of Bitcoin over the next decade. Want to know how to buy bitcoin and other cryptocurrencies with a credit card in the US? Find out in this step-by-step guide for beginners. Want to ramp up your Bitcoin knowledge? Follow our easy-to-understand guide on what Bitcoin is, how it works and where to buy it. Buying Bitcoin is easier than you think — learn how to buy Bitcoin from a cryptocurrency exchange and discover how to start building your portfolio.

Click here to cancel reply. Thanks for your comment and I hope you are doing well. You may be able to sell Bitcoins at some gold exchanges. How to sell bitcoins in these exchanges are not yet available on our pages as of the moment so please inquire carefully before proceeding. This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering.

It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks — they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.

I prefer selling bitcoins and other cryptos on a website called CryptoExMart. Never seen an exchange company that pays faster. Optional, only if you want us to follow up with you. Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.

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Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Please appreciate that there may be other options available to you than the products, providers or services covered by our service. Updated Mar 4, What changed? Learn more about how we fact check. Wire transfer, Online banking. Copy the trades of leading cryptocurrency investors on this unique social investment platform. Non-US residents can read our review of eToro's global site here.

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For example, an investor may be extremely happy to exit with 10x returns. Another may not be satisfied even with 20x returns. Almost a majority of crypto investors fall in this category. In most cases, any of the two scenarios are possible after they sell their holdings. Ideally, an investor would like to book profit near the peak, which is quite difficult to predict.

Given the windfall gain, there is a middle option available to such crypto investors. If it rises further, still, the investor can watch the rally without any guilty feeling. This system ensures that an investor will make a decent profit and money related worries are substantially eliminated.

The system also balances potential gains from possible losses. Professional traders mostly opt for a combination of technical and fundamental factors, in addition to overall market sentiment to decide an entry or exit from a trade. These indicators are used individually or in combination along with support and resistance levels to decide an entry or exit. Traders also use either or both day and day moving average to quickly understand the overall price trend.

When the short-term moving average day crosses above the long-term day moving average, it is construed as a buy signal, and vice versa. The image above shows the day moving average green remains above day moving average red for the past three months. To confirm the trend any of the momentum indicators mentioned above are used. For example, a stochastic indicator should be rising when there the moving averages have made a bullish cross over.

It should be remembered that all the indicators and even moving averages are lagging indicators i. To minimize price lag, traders general prefer to use an exponential moving average. It should be remembered that attempts to reduce the lag in a big way would result in frequent entries and exits as noise small price movements will not get filtered.

The smartness of a trader lies in interpreting these signals precisely as all indicators have some disadvantages. For example, a stochastic indicator with a reading of over 80 indicates an overbought scenario. However, if the indicator does not fall below 80 then the price would continue to rise and selling Bitcoin at that time will be a bad idea.

The image above shows clearly that the price of Bitcoin had appreciated even when the stochastic indicator is in the overbought region. A trader should remember not to sell his holding before the stochastic indicator falls below the reading of Likewise, if the stochastic indicator has a reading below 20 and the price is trading below day moving average then a rebound will be short-lived.

On the other hand, if the price is above day moving average as in the image above then we can expect further appreciation in price. Along with moving averages and a momentum indicator, professionals also use resistance and support levels.

In the below diagram, when we use resistance and support levels, decisions can be taken in a better manner. The green circle indicates the point where support levels have been tested and stochastic indicator is rising. That would be the best entry point with minimum risk. When the stochastic indicator is below the reading of 20, the price has broken the support level temporarily.

So, even though stochastic indicator confirms an oversold scenario long positions should be avoided. The inverse is true for booking a profit in Bitcoin trade. Price volatility leads to formation of repetitive patterns in financial markets. Such price patterns can be identified using trend lines. When a price pattern indicates a change in trend, it is called as reversal pattern. Alternatively, when a price pattern signals a continuation of prevailing trend, it is called as continuation pattern.

Price patterns are frequently formed in all time frames intra-day, daily, weekly and monthly. As human beings unconsciously repeat their past behaviour, patterns get repeated on charts. By identifying those patterns, a trader can enter or exit the position before the break out actually happens. Bitcoin has formed several continuation and reversal patterns in the past as illustrated below:.

Pennants — it is drawn using two converging trendlines, which are moving in different directions up trendline and down trendline. Flags — it is drawn using two parallel trendlines, which can stay flat, slope up or slope down. Wedges — it is drawn with two converging trendlines, which are angled either up or down.

Unlike a pennant, both trendlines point to the same direction in a wedge pattern. Head and Shoulders — it appears at market tops. The pattern is made up of an initial peak, followed by a bigger one. The final peak mimics the first. Price reversal is confirmed once the neckline is broken. Inverse head and shoulders results in a bullish break out. The pattern can last between seven weeks and roughly 65 weeks. Ascending triangle — This pattern is seen during an upward trend and is regarded as a bullish continuation pattern.

Rarely, it can be formed as a trend reversal pattern at the end of a downward trend. Irrespective of where they occur, the pattern indicates bullishness. Descending triangle — This pattern is seen during a downward trend and is regarded as a bearish continuation pattern. Rarely, it can be formed as a trend reversal pattern at the end of an upward trend. Irrespective of where they occur, the pattern indicates bearishness. Triple bottom — This pattern is formed after a long downward trend and indicates trend reversal.

Bullish symmetrical triangle — The symmetrical triangle pattern is made up of a unique shape created by convergence of two trend lines. Bearish symmetrical triangle — It is similar to bullish symmetrical triangle, but the lower trend line is broken by selling pressure. By learning to identify a price pattern, a trader will be able to exit a Bitcoin trade without any dilemma.

Ideal for day to day use and online shopping — List of Bitcoin Wallets. Ideal for spending on-the-go. Use bitcoin anywhere — List of Bitcoin Mobile Wallets. Manage all your blockchain investments from one easy platform. A bitcoin exchange is a website where users can buy and sell bitcoins from each other. When there is a price match on the Order Book, a bitcoin trade between those two people occurs.

You can see how much is for sale, and you can see who has active orders to buy bitcoins. There is no best bitcoin exchange, but everyone has their favorite. When choosing a bitcoin exchange there are a few factors that will help narrow it for you:. How many bitcoins you want to trade: If you are a large investor you need to choose an exchange that has high liquidity in the order books to make sure your trades are filled without moving the price too much.

You also want to find an exchange that has a Maker-Taker or Volume based trade fee model. The United States has some of the strictest policies. How you want to pay for the bitcoins: There are tons of ways to buy bitcoins. Most bitcoin exchanges will allow you to wire money directly to and from your Banks checking or savings account. This is how most people invest in bitcoin.

You can use credit cards or paypal, but it often costs more to buy bitcoin with these payment methods. Purchase in bitcoin with a Bank Account Binance. Buy Bitcoin with Cash LocalBitcoins.

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