The best way to sell Bitcoin is through a cryptocurrency exchange due to its security and convenience. Exchanges offer user-friendly interfaces, high liquidity, and multiple sell options. Alternatively, peer-to-peer platforms provide more privacy but require caution.
Can you sell Bitcoin from your wallet?
If you don’t want to use an exchange or brokerage, you can also cash out via a Bitcoin ATM. However, Bitcoin ATMs will also charge some fees, so make sure you accept the terms of the transaction before you cash out. Some countries have outrightly banned the use of Bitcoin for any financial activity.
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It features an extremely easy-to-use platform that is highly available with competitive fees and numerous withdrawal methods to cash out securely. The cost of selling Bitcoin on Coinbase is dependent on the order size. The exchange charges a flat fee on all Bitcoin sell orders up to $200. For instance, Coinbase charges Bitcoin traders $1.49 for transactions between $10 and $25.
However, you’ll have to go through identity verification and link your bank account to withdraw the funds (in local currency) obtained with your sale. Such marketplaces match a buyer and a seller and offer different types of payments, including wire transfers, gift cards to use at online stores, and even cash in person. You can refer to our “How To Buy Bitcoin Anonymously” article to learn more about it. Once your account is set up and verified, log in to the exchange platform. Go to your portfolio and select BTC (bitcoin) as the asset you wish to sell. Most platforms offer a straightforward dashboard with clear options to buy or sell, making it easy to locate the necessary features.
Bitcoin can also be exchanged or swapped for other cryptocurrencies or stablecoins, such as ether or tether (respectively). This is useful if you wish to take profit on your bitcoin investment or prevent the value of your portfolio from declining. However, no amount of trading knowledge can save you from the losses cybercrime can cause. That’s why you should always use a reliable antivirus to keep your computer safe and the best VPN for crypto trading to keep you safe online. A VPN also helps you buy and sell Bitcoin in countries where crypto is illegal. When you find one, you can use these machines like you would use a traditional ATM.
Selling Bitcoin Through P2P Trading
For instance, UK investors can receive funds within 5 minutes and a 1.8% fee for debit card withdrawals. US investors can withdraw money using ACH via the Binance.US exchange. However, Australian investors may need to wait 1-2 business days to receive their withdrawals when using bank transfers in AUD. Kraken is one of the top altcoin exchanges by trading volume like the options listed above. The San Francisco-based trading platform supports over 100 digital assets and can process transactions in large volumes.
Sign up on a cryptocurrency exchange
For more information on our company policies, read the Affiliate Disclosure, Privacy Policy, and Terms & Conditions. The simple fact that Bitcoin is not Turing complete makes it difficult to sell Bitcoin on-chain. A good exchange is fine, but if you want to avoid any prying eyes, then cash is the way to go. Obviously, you can’t just pull cash from your PC, but there are some devices called bitcoin ATMs that let you do just this. Cloudwards.net may earn a small commission from some purchases made through our site. To receive bitcoin, simply provide the sender with your Bitcoin address, which you can find in your Bitcoin wallet.
- Sending bitcoin is as easy as choosing the amount to send and deciding where it goes.
- While selling Bitcoin can be profitable, it’s important to consider long-term value and market trends.
- Cryptocurrency exchanges are a good option if you want the money from selling Bitcoin sent into your bank account or toward your credit card.
- The peer-to-peer (P2P) option is another affordable means of selling Bitcoin.
- When one company controls all aspects of an asset, it creates a single point of failure.
#2. Centralized Exchanges
In this case, the transaction happens directly between you and the buyer. You can register as a seller on platforms such as LocalBitcoins, Paxful and BitQuick. Using Cryptocurrency ExchangesSelling bitcoin for cash through an exchange is the most straightforward method. After executing a sell order, the cash equivalent will be credited to your exchange account.
- There will be a withdrawal fee — usually a small percent of the payment or a fixed number of a few dollars — shown before you confirm, so make sure you’re OK with this before continuing.
- Now that we’ve established the limitations for selling Bitcoin, that is, what your storage method is and what currency you want to sell for, we can properly look at how to sell Bitcoin.
- After the seller confirms the payment, they instruct the exchange to release the crypto in escrow to the buyer.
- After all, profits aren’t really profits until they’re safely in your bank account.
- We are independently owned and the opinions expressed here are our own.
- The second major thing to keep in mind is that your current storage method for BTC may dictate or even limit the best way to sell Bitcoin.
The selling process is often simply the reverse of the buying method and should be relatively easy to manage. However, before we explore how to sell bitcoin, there are a few considerations to take into account. If you bought bitcoin in the past, there are different reasons why you may want to sell it. You may be a trader who wants to get some profits or a pleb who needs the financial boost and has no other option than selling some of your stack. Whatever your reason, we will present to you five the dark side of bitcoin different ways to sell your bitcoin. Blockchain bridges allow assets to move between different blockchain networks.
Selling Bitcoin isn’t just about converting crypto to cash—it’s about maximizing your returns while minimizing fees and risks. Whether you choose an exchange, P2P platform, or Bitcoin ATM, selecting the right method depends on your goals. Kraken offers fiat withdrawals for US and UK customers through ACH, SWIFT, FedWire, FPS (UK), and SEPA transfers. When liquidating Bitcoin via the ‘Buy Crypto’ widget, there is a 1.5% cost. This is a little on the high side compared to the other places to sell Bitcoin in this list.
If governments start cracking down on Bitcoin, major institutions pull out, or a bear market is looming, reducing your exposure could be a defensive move. To sell Bitcoin, you’ll need to pick an exchange that you are comfortable with and supports the currencies that you need. Stay up to date with our latest exchange reviews, promotions, how-to guides and educational articles on Bitcoin, cryptocurrency & more. Proceed to copy the wallet address and paste it on the recipient address bar of the external wallet. Confirm and click on ‘Send,’ and the crypto asset will be deposited into the Binance wallet once all verifications have been made on-chain. To create a personal account, fill in a valid email address on the next page and add a unique, strong password.
Once the order is fulfilled, most exchanges will allow you to withdraw your funds directly to your bank account. Note, most exchanges have a minimum withdrawal amount, which means if you leave small balances in your exchange account you might have to deposit more in order to get the remaining amount out. There’s also a difference between selling and withdrawing your money.
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. However, if you’re willing to take on the challenge, this is how you make a P2P trade. However, there’s no option to get an escrow in real life — or rather, if you did, it would totally defeat the point of hiding it from anyone else. Because of this, in-person bitcoin transactions are much riskier than any online exchanges, and you should be careful if you choose this option. Once how to buy sundaeswap you’ve chosen your selling method, you need to transfer your BTC from your personal wallet to the platform where you’ll sell it. When selling Bitcoin, the fees you pay and the profits you make can vary significantly depending on the method you choose.
If you decide to make in-person trades, make sure you transact in a public setting and be aware of the major risks involved. The easiest method to sell your bitcoin is often based on how you bought it. If you have already used a particular service provider (i.e., exchange) to buy BTC, then it should be just as easy to sell via this how does cryptocurrency qualify to get on an exchange service provider. Exchanges are the most popular method of buying and selling bitcoin; however, keep in mind the considerations highlighted above before deciding what’s best for you. To sell Bitcoin, transfer your BTC to a cryptocurrency exchange wallet. Choose the type of sell order (limit or market), enter the amount, and confirm.