How to Sell Bitcoins?

Bitcoin can be sold in three following ways:

  1. Selling it on Exchange
  2. Selling it using peer-to-peer platforms
  3. Selling it Face-to-Face locally for Cash
  4. Exchanging it for money at ATM
  • Selling Bitcoin on Exchange

Bitcoin exchanges provide a medium to sell Bitcoins along with buying. In most cases, a user is given a Bitcoin Wallet (Read: Bitcoin Wallet For Beginners to know more about bitcoin wallets), when he signs up on the network. This wallet can be used to deposit and withdraw Bitcoins. While selling, Bitcoins must be deposited in the BTC wallet and trade order must be made. The money is deposited in the bank accounts entered in their database. You need to furnish your identification details and pay a transaction price.

  • Selling it using peer-to-peer platforms

When you are using a peer-to-peer platform to sell your Bitcoin, you need to find suitable buyers all by yourself. You need to verify your identity before making any transaction. As a seller, you can set the price at which you want to sell your Bitcoins and choose the payment gateways from PayPal (Read: Four Best Methods To Buy Bitcoin Using PayPal), Bank Transfers, Credit Cards, or even in fiat money. The fee associated with this transaction is low than exchange.

  • Selling it Face-to-Face locally for Cash

If you are someone who loves anonymity, then you can find a local buyer using the above mentioned peer-to-peer platforms. You can have an idea on buyers who are trustworthy and safe to meet face-to-face from the platforms like the meetups of local Bitcoin enthusiasts. When you find a prospective buyer and meet the person at a meeting place, the sale is carried out by scanning a QR code on the phone and accepting cash in hand.

  • Exchanging Bitcoin for money at ATM

Bitcoins can also be exchanged for cash at public ATM kiosk near your place. Certain sites like coinatmradar.com let you find the nearest ATM by using its map. In case of using an ATM, the user must have his own Bitcoin Wallet. Bitcoin allows buying and selling anonymously without any need for Know Your Customer (KYC) or Anti Money Laundering (AML) identification.

1 COMMENT

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