Bitcoin, the largest digital asset, is known by many people, and it has some large investors. So, buying bitcoin is a simple task, and you can find multiple platforms from where you can buy your coins. But selling bitcoin can be a tricky job because you need to sell your crypto at the right price. You need to have such bitcoin in your wallet to sell your coins. You can start investing in crypto through exchanges. You can also click here to try a trusted platform for buying and selling cryptocurrencies.
You can sell your bitcoin through different routes, such as online platforms, brokers, and exchanges. Else, you can also choose a platform to sell your bitcoin to the buyers directly. It is similar to the property listing websites, where you can find buyers and sellers on the same platform, and people can close their deals over a few conversations.
Routes for selling your bitcoin:
Exchanges for cryptocurrencies: There are some exchanges where you can buy, hold and sell your digital assets. Make sure you must choose an exchange where KYC is mandatory. They will verify your identity before activating your account, and you need to link your bank account with your crypto account to withdraw your money. But exchanges are working on limited locations or states, and you must choose a legal platform that is legal in your state. Once you create your account in an exchange, you can sell your bitcoin through your account. For example, you can make an offer for your bitcoin, and when your price matches with a user, you can transfer your bitcoin from your wallet to that user’s wallet through your exchange.
It will take a few days to transfer your funds from your crypto account to your bank account. You must check this transaction time required for such exchanges before you place an offer to sell your bitcoin. Apart from that, most of the exchanges offer free-buying options, and you do not need to pay any transaction fee while you buy bitcoin or other cryptocurrencies. However, you need to pay some extra fee for withdrawal. Always check such transaction fees of such exchanges before you choose.
Sell your bitcoin directly to the buyers: You can also sell your bitcoin directly to your buyers. Several platforms offer the facility to find such buyers online and sell your bitcoin to a buyer who can provide the highest price for your coins. You can also sell your coins in person and meet the buyers to sell your coins.
Choose P2P selling platforms: There are some third-party platforms available from where you can sell your bitcoin. You can make an offer and list your coins on these platforms. You can also add your preferred payment option in your listing, and you can sell your bitcoin to a buyer through these platforms. Buyers can transfer the funds through wire transfer mode, and you will get your funds credited to your bank account.
Use ATMs to withdraw your crypto: There are many bitcoin ATMs available worldwide, and you can search for the nearest one on Google. You can easily scan the QR code available on your bitcoin app or wallet to access such ATMs, and you can withdraw cash from an ATM. But limited numbers of ATMs offer a cash withdrawing facility, and you need to pay a huge transaction fee for the same. Apart from that, the identification process of such ATMs is quite complicated, and you need to go through some interfaces to validate your identity. For example, you need to scan your QR code and palm, and the ATM camera will capture your photo to verify your identity, and you need to submit your valid ID proof number for the same.
ACH: You can choose an automated clearing house to transfer your funds through wire transfer. Some European crypto exchanges are available that can help you get your funds transferred to your bank account. In addition, you can also use the Single Euro Payments Area to cash your bitcoin.
Final thoughts
Selling bitcoin through exchanges can be convenient and less expensive. But it can take too much time. Irrespective of the medium you choose remember to do a thorough study and cross-check the information.
