How to Sell Bitcoins: A Newcomer’s Guide for 2021
Bitcoin is one of the most sought-after financial assets of 2021. It is growing in value at a significantly high rate and providing opportunities for profitable investments. Selling Bitcoin (BTC) has become the new profession for investors and traders around the world. However, people new to the cryptocurrency world are less privy to the different ways of selling Bitcoin.
5 Ways to Sell Bitcoin in 2021
After buying Bitcoin, these five ways can help in selling them at the desired market price.
The simplest way of selling Bitcoin is through cryptocurrency exchanges. It is one of the most automated ways of converting Bitcoin into real money. Dozens of cryptocurrency exchanges take BTC tokens in exchange for hard cash. These exchanges transfer the value of the sold Bitcoin in US dollars, which is the standard currency for transfer.
Through an exchange platform, traders can also become middlemen and help beginners and other users sell their Bitcoin wealth. There are only a handful of decentralized cryptocurrency exchanges that work without mediators. These exchanges are popular and well-established to ensure a safe and secure transaction. Some of the standard exchanges for selling Bitcoin include Bitstamp, Coinbase, and Bitfinex.
#2 Direct Trades
The second way of selling Bitcoins is direct trading. When people owning Bitcoin come across each other, they create a network to sell or buy Bitcoin amongst themselves. This direct trading network helps in selling to another Bitcoin holder. This person is already aware of the process and the service used for selling Bitcoin. Some of these direct trades are executed with cryptocurrency exchanges to guarantee an intermediary that facilitates a secure and reliable trading connection.
#3 Online P2P Trading
Various online peer-to-peer websites offer Bitcoin trading. By visiting these websites, users can create a new account and choose to sell their crypto wealth. They can find an existing buyer on these P2P websites. These buyers are always on the hunt for purchasing BTC and Bitcoin Cash (BCH). By opening a trade account on the P2P platform, it is easy to become a Bitcoin seller and get cash or BCH in return for the sale. A blind escrow account on these platforms is also used to make the payments. Bank transfer is the preferred method of payment in online P2P selling of Bitcoin.
#4 Crypto ATM
Similar to traditional ATMs, there are cryptocurrency cash machines located in several places around the world. A Bitcoin ATM is perhaps a great way to sell Bitcoin. In their traditional sense, Bitcoin ATMs can help users connect with the buyers. They can also link the user’s bank account to make the payments. The Bitcoin sold via ATM is usually bought and stored by the owners of the ATM corporations. These Internet-based companies facilitate such Bitcoin transactions to increase the capacity of BTC tokens.
#5 In-Person QR Code Scanning
If the above ways are inaccessible, one can also sell their digital currency in person. Bitcoin is a virtual currency, but it can be sold in person as well. The process is easy as it requires a QR code scanning app. The seller can share the QR code of their Bitcoins with the purchaser. With the scanning app, the phone can capture this QR code and receive the Bitcoin. In return, the app can transfer the cash to the sender’s phone on the spot.
How to Withdraw the Funds After Selling Bitcoin?
The selling part is easy; however, converting Bitcoins into real money is a bit tricky. Several methods used for selling Bitcoin compel the user to make the payments in other types of cryptocurrency. However, selling bitcoins for real money is also an option. To withdraw the funds, the user must have an account in a crypto-friendly bank.
Regardless of the selling method, a crypto-friendly bank account can register the transaction and convert the value of Bitcoin being sold into real money. These bank accounts are familiar with the Bitcoin selling methods listed above. They are also linked to prominent cryptocurrency exchanges to extend support for the withdrawal process. Several exchanges also use credit cards and debit cards to withdraw the funds after selling Bitcoin. Apart from that, If you want to make a good profit from Bitcoin then you should check out the Bitcoin Rush trading bot. It is an automated trading platform that focuses on making a profit from Bitcoin. Check out Bitcoin Rush Reviews by members and experts which are available on google to know more about this automated platform.