How to Sell Cryptocurrency?
With each passing day, the number of people investing in cryptocurrencies keeps on growing. Buying and selling crypto has turned out to be an ideal investment option for many because it promises great returns compared to some of the other available options. However, since many people are relatively new to crypto trading, ‘How to sell your cryptocurrency’ is one of the commonly searched queries online.
When you invest in cryptocurrency or other investment options like stocks and real estate, getting your money out safely along with some profit is equally as important as the investment itself. Many who have already invested or want to invest in crypto have read extensively on how to invest, but unfortunately, most have no idea how to sell crypto coins.
The truth is, selling cryptocurrencies is just as easy as buying them. The platforms you used to acquire your digital currencies are the same ones you can use to cash out your coins. In this article, we share a detailed guide on how to sell cryptocurrency.
Selling through cryptocurrency exchanges
Crypto exchanges are commonly used platforms for buying and selling crypto as well as converting one digital currency to another. A considerable percentage of the daily cryptocurrency transaction volumes is usually conducted using the crypto exchange. Exchanges hold both the funds of buyers and sellers, allowing both of them to complete transactions safely.
While buying cryptocurrencies usings crypto exchanges might require you to create an account, selling, on the other hand, does not require you have an account, especially if you are using one of the reputable exchanges in the market. All you need to have is some crypto in your wallet, and you can instantly complete the transaction and immediately receive payment to your account.
Some exchanges have created apps that allow you to buy and sell crypto quickly. Are you wondering how to sell bitcoin on a blockchain app or asking yourself, “Does blockchain sell Bitcoin?” You need to download one of these apps, and you are good to go.
Sell cryptocurrency online via peer-to-peer trading sites
There are several online peer-to-peer platforms such as LocalBitcoins that allow you to either buy or sell cryptocurrency. You can sell your crypto on these apps and have the funds transferred to you via your preferred option be it bank wire, PayPal, or any other option you are comfortable with.
Peer-to-peer sites help to connect buyers and sellers. A buyer can post an advert on these sites, giving details of the kind of crypto they wish to buy, the price they are willing to pay, and the payment option they can use.
As a seller, if you meet the requirements, you can proceed to contact the buyer. To protect both parties from losing their funds, peer-to-peer platforms use escrow services that hold the seller’s crypto until the seller receives confirmation of payment.
Selling cryptocurrency in person
Another common way to sell Bitcoin if you are searching “How do you sell bitcoin” or other cryptocurrencies is doing so in person. This method usually works best if the buyer is local to you. The buyer can be either someone you found through online peer-to-peer platforms or a friend or family willing to buy your crypto.
When using this option, you need to understand how to use your crypto wallet and transfer coins from it to another wallet address. Make sure you know the current trading price at the time of sale, as it might have gone up meaning you could lose out. When meeting someone you have not met before, conduct the meeting in a public place to ensure your safety and security.
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