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How to sell Bitcoin in 4 steps | https://leowiki.com

Disclaimer: This page is not fiscal advice or an endorsement of digital assets, providers or services. Digital assets are volatile and hazardous, and past performance is no undertake of future results. potential regulations or policies can affect their handiness and services provided. talk with a fiscal professional before making a decision. finder or the writer may own cryptocurrency discussed on this page .

How to sell Bitcoin

The best way to sell Bitcoin is through a cryptocurrency exchange. If the assets are already on an substitution, then skip to step 4. otherwise, you will need to deposit the coins or tokens on an exchange to sell on the market .
There are a variety show of factors to consider when selling BTC. Before registering on an change, be sure to check that the asset is listed on the chopine and that your hope decree currentness is supported for withdrawing to a bank report. Compare exchanges to find the lowest sediment fees, withdrawal fees and trade fees to maximize the decree received .

Step 1: Choose where to sell Bitcoin

Choosing where to sell Bitcoin depends on a few chief factors. Cryptocurrency exchanges offer unlike fees for depositing assets, but it should be free to deposit BTC apart from the Bitcoin network fee. You should take into account trade fees for selling BTC when choosing where to sell american samoa well. fair trade fees range from 0%-0.5% per trade. The concluding gene to consider when selling Bitcoin is the withdrawal tip for cashing out to a bank history. Some exchanges charge a flat rate while others charge a percentage. Look for an exchange that either has no withdrawal fees or charges a low flat rate.

Step 2: Create an account

once you have chosen a cryptocurrency exchange to sell your Bitcoin, you will need to create an account. Find the sign-up or register push button on the home page then do the pursuit :

  1. Enter an email address or phone number
  2. Create a password
  3. Verify the email or phone number provided by entering the verification code sent to it
  4. Agree to terms and conditions
  5. Click sign up or register

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 .

  1. Enter personal information
    • Name, country of residence and an ID. This step may require you to upload a scan of your chosen ID or simply enter your ID number.
  2. Upload documents
    • A clear photo or scan of your ID with no glare or obstructed view is necessary. You will also need to upload a copy of a utility bill or bank statement that matches the address and name on the ID provided.
  3. Upload a selfie
    • This involves taking a photo of yourself with a full view of your face. You must be holding a piece of paper that has your name written on it and the current date. Some sites will provide a unique code that you need to write on a piece of paper.
  4. Activate 2FA
    • This is an optional step but it is recommended. Some exchanges require it regardless. Activating 2-factor authentication adds an extra layer of security to your account.

Step 3: Deposit Bitcoin

The next step is to deposit your BTC on the exchange in ordering to sell it. In order to do this, follow these steps :

  1. Navigate to the wallets or balances page of the exchange
  2. Locate “Bitcoin”
  3. Click “Deposit”
  4. Copy the address the exchange provides for your BTC deposit
  5. Paste the address into your external Bitcoin wallet
    • Double-check the address!
    • Depending on your comfort level, you can also send a small test amount first. This will cost you an extra transaction fee but will give you peace of mind.
  6. Send the transaction
    • You will have to choose the network fee (a higher fee results in faster processing)
    • Once the transaction is broadcasted, you can exit your wallet
  7. Wait for the deposit to be confirmed by the exchange
    • This can take a few minutes up to an hour depending on the exchange and network congestion
    • Once the deposit is confirmed, you can sell your Bitcoin

Step 4: Sell Bitcoin

now that your Bitcoin is in your exchange report, you can sell it. There are a few different ways to sell BTC through an change : blink of an eye betray, market holy order and terminus ad quem order. It is crucial to remember that you can sell Bitcoin for decree or for other crypto coins and tokens .

Instant sell

In order to do an blink of an eye sell, you will have to have previously connected a bank account or withdrawal finish. instant sales tend to have the highest fees and are made at commercialize price. overall, you net less than using the spot market. With moment sale options, you are paying for public toilet 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 .

Market/limit orders

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

  • Market orders
    • Bitcoin is sold immediately for market price. It has higher fees than using a limit order but is lower than an instant sell. You should choose a market order if you want to sell as fast as possible at the current market price.
  • Limit orders
    • Bitcoin is sold only if it reaches a price set by you. This has lower fees than a market order and is much lower than an instant sale. You should choose a limit order if you want to sell Bitcoin at a specific price.
  • Maker/taker fees
    • These are the fees charged when using a spot trade.
    • Maker fees are charged to those who add liquidity to the exchange (place an order not already on the books)
    • Taker fees are charged to those that take liquidity off the exchange (place an order that already exists and is filled immediately)
    • Taker fees are charged for market orders because the sale is immediate
    • Taker fees can be charged for a limit order if the price set is the same as the market price
    • If you place a limit order for a price that is not the current market price, then it is considered a maker order and has lower fees
    • Some exchanges charge the same for both maker and taker trades

If using a grocery store order, plainly choose how much BTC to sell and then place the order. If using a limit regulate, choose how much BTC to sell and at what price, then wait for the order to be filled. You can cancel your ordain at any time if it ‘s unfilled .

Withdrawing local currency

When trying to sell Bitcoin through a platform that permits decree currency withdrawals, check to see what withdrawal methods are supported. Options may include the following :

  • Bank transfer
  • Credit/debit card
  • PayPal
  • Cash
  • ACH
  • SEPA

When choosing an central and withdrawal method, make sure to consider the play along :

  • Fees. Many (but not all) platforms impose a withdrawal fee, and the fee charged usually varies depending on the withdrawal method selected.
    • Some exchanges allow you to sell Bitcoin directly for fiat at market price and deposit the funds directly into the account of your choice.
  • Limits. Are there any minimum or maximum limits on how much you can transfer? How do they differ between withdrawal methods? Can you increase these limits by providing additional verification or ID?
  • Processing times. How long will it take for the fiat currency to arrive in your wallet or bank account? For example, while cash withdrawals are instant, bank transfers can take several days to arrive.
  • Any other restrictions. For example, some exchanges will require you to withdraw funds using the same payment method with which you made your deposit.

Factors to consider when selling

The best direction to sell Bitcoin is immanent and varies based on your circumstances. What works well for one person might not be a adept match for the adjacent. rather, it ‘s about working out which option is the correct choice for you. You can do this by asking yourself a few important questions :

  • Do you want to sell Bitcoin for fiat or another cryptocurrency?
  • How quickly do you want to sell your Bitcoin?
  • Are you willing to accept a price well below the market rate or do you want to negotiate the best price possible?
  • If selling for fiat, how do you want to receive payment?

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 watch :

  • Price. How does the exchange rate compare to those offered by other platforms?
  • Fees. Compare any trading fees that apply and whether there’s a fee for withdrawing funds into your bank account or cryptocurrency wallet.
  • Trading and withdrawal limits. Is there any limit on the amount of Bitcoin you can sell, or on how much fiat currency you can withdraw from your account?
  • Security features. Are there any security measures in place to help protect your funds and your private data, for example, 2-factor authentication or a reputation system for buyers and sellers?
  • Customer support. If something goes wrong with your transaction, how can you contact customer support? During what hours is support available?
  • Reputation and reviews. Seek out online reviews and check crypto forum posts from other users to find out whether they recommend a particular exchange or trading platform.

There are several other crucial factors, such as where an exchange is regulated and the payment methods accepted by peer-to-peer trade sites. For a full breakdown of the features to look out for, check out Finder ‘s cryptocurrency exchange guide and unwrap tips on how to choose the right chopine.

Alterative ways to sell Bitcoin

P2P marketplaces

Peer-to-peer or P2P marketplaces are one of the most popular alternative ways to sell Bitcoin. P2P exchanges require no identity confirmation, allow you to browse through buyers and see offers for each type of accept payment method. They besides do not require you to give up custody of your funds .
To sell your BTC on a P2P market, you just register, post what you have for sale, how much you want for it and acceptable payment methods. You will need to note any excess fees ampere 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. Fees for selling on P2P marketplaces vary, but Binance and Localbitcoins both charge 0 %. This does not include any fees you as the seller set for the buyer .

Bitcoin ATMs

Bitcoin ATMs are an increasingly coarse sight around the earth. These kiosks used to only allow the buy of BTC with a accredit or debit batting order. Nowadays, they frequently allow for both purchases and sales. You can find Bitcoin ATMs in fair about every city, though they are much not all that commodious to get to. In addition, fees charged through Bitcoin ATMs are frequently much higher than any early choice, with 6.5 % being considered moo and the median approximately 10 %. While a cool choice, Bitcoin ATMs are not the recommended option for selling BTC .

Frequently asked questions

  • nowadays might be a good time to sell Bitcoin, but it depends on a count of factors. Check out our Bitcoin price analysis .

  • Yes, you can sell Bitcoin for decree. You can besides sell it for any other pair crypto coin or keepsake. The trading pairs available for Bitcoin vary by change .

  • Yes, you can sell your Bitcoin immediately using the sell crypto ( or similarly labeled ) interface. Fees are higher for using blink of an eye sell options, meaning you net less .

  • You can sell Bitcoin for cash by using a cryptocurrency exchange, a P2P marketplace, a Bitcoin ATM or a third-party broker. Each sell method has varying fees that affect your net received in your score of choice.

  • No, it is not hard to sell Bitcoin. It has the highest daily trade volume of any crypto asset and is marketable through a long ton of avenues. The easiest way to sell it is through an switch over .

Disclaimer: Cryptocurrencies are bad, complex and involve meaning risks – they are highly fickle and sensitive to secondary coil activeness. operation 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. You should besides verify the nature of any merchandise or servicing ( including its legal status and relevant regulative requirements ) and consult the relevant Regulators ‘ websites before making any decision. Finder, or the generator, may have holdings in the cryptocurrencies discussed .

source : https://leowiki.com
Category : Economy

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