Sell Bitcoin: 5 easy ways to your investment into money.

Bitcoin is a digital currency that is not tied to any country or central bank. It was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009. Bitcoin can be used to buy things electronically.

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The bitcoin system is peer-to-peer; users can transact directly without needing an intermediary like a bank or credit card company. Transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain.  The ledger uses bitcoin’s own unit of account, also called bitcoin. 

The system works without a central repository or single administrator, which has led the US Treasury to categorize it as a decentralized virtual currency.

Cryptocurrency exchanges

There are some disadvantages to trading with exchanges that you should be aware of before jumping into this form of trading. 

For example, they act as an intermediary who has access to your money, which increases risk.

Use a cryptocurrency exchange, you need to create an account and link it to your preferred bank. Some reputable exchanges also require ID verification. This is needed in order to withdraw cash from your bank account. Some exchanges don’t allow users from certain countries to trade. Once you get an account on an exchange, place your sell order. 

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Then state the currency, amount, and price. Make sure to check the payment method of the seller beforehand. You’ll need to specify everything before you can complete your trade; crypto can be a complicated topic, with exposure to the kinds of order types.

It can sometimes take weeks or even months for the funds to end up in your connected bank account. We recommend that you use one of our faster withdrawal methods, like quickly withdrawing them to your connected bank account or converting them into USD using the instant exchange feature.

Exchanges are sometimes talked about as a way to store your cryptocurrencies, but they’re not secure and reliable enough for this purpose. 

They can be targeted by hackers and there have also been instances where exchanges have shut down amid their owners’ mismanagement of users’ funds or running away with users’ money.

One way to sell bitcoin on an exchange is to trade it into a stable coin. 

This has been a common practice as the crypto market has been on the up-and-up recently. Although this can be done, it’s advised that you store your holdings for as long as possible, as there are some risks involved with using exchanges – even those with good reputations. 

It is important to take responsibility for your own funds and store them in a secure offline wallet that you have complete control over. 

Withdrawing funds off the platform can done easily too. One of the most popular stable coins USDT, a digital token that’s tied to major fiat currencies. You can trade cryptocurrencies with less volatility, and it’s also easy to store your holdings overseas with USDT.

There are several ways point-of-sale cards function. 

They mainly work in the sense that, when you spend money with them, their balance converted into cash at the time of the sale. This means they can use wherever traditional payment cards are accept. Some cards also allow users to load stable coins onto them to avoid the volatility that comes with cryptocurrencies.

This article lists the top 5 easy ways to turn your investment into money

Local trade (person-to-person)

To sell your Bitcoin, you can either set up direct trade with another entity, either in person or online. 

There are a few ways to go about this, either by setting up a meeting or performing the transaction online.

Online P2P selling

There are a number of places that facilitate peer-to-peer Bitcoin sales, such as specialized platforms and exchange products. 

These platforms provide a way to trade Bitcoin for cash or vice versa with another user. Buyers post their listings on the platform with the product they are selling,  the price they want to sell at, and any additional information buyers might need to complete a sale. Sellers can then see which listings are of interest and follow the steps listed for an easy, convenient transaction.

Face-to-face transactions

Selling Bitcoin for cash also works, both online or in person. 

You can get pay for selling BTC either online or by meeting up with somebody else and completing the trade-in person. When it comes to selling Bitcoin in person, you should know how to send Bitcoin and work with your wallet, or the platform on which you store your funds (such as when you store them on an exchange).

The value of bitcoin often fluctuates, so it’s important to check the price at the time of an in-person sale. Most traders use rates from reputable exchanges for such transactions. Bitcoin can exchanged for physical currency or vice versa. This can done either in person or online.

Price discrepancies across exchanges can really impact the price of Bitcoin, so just because it’s dropping in value on one exchange doesn’t mean the price is equivalent everywhere. Price differences within regions should also taken into consideration when determining to price. 

A Bitcoin price premium is a difference in pricing observed in Bitcoin and other assets. 

This means that the Bitcoin trading prices are higher than other assets in the market or an underlying asset’s price when referring to other types of trading, such as futures.

Bitcoin has been trading at a higher price in South Korea than in international markets. This is know as the Kimchi Premium. Coinbase also charges a Bitcoin premium sometimes.

Beware of scam offers! Use a bitcoin trading platform to increase your safety. Trading Bitcoin with strangers is like the other financial transactions (ex. Selling your car) that you do in person with strangers where risks exist.

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Bitcoin ATMs

Bitcoin ATMs don’t look like traditional cash machines. They function by connecting to the internet and facilitating Bitcoin transactions, rather than linking up with a bank account. Bitcoin ATMs are a great way to convert your bitcoins, and they can found all over the world. 

They’re very easy to use, and their locations can easily searched for on the internet. When it comes to transaction fees, the use of Bitcoin ATMs is not always an optimal option. 

Granted, some do offer both buy and sell functionality, but this not guaranteed across the board.

Sometimes Bitcoin ATM providers require the user to have an account. The registration process can be tedious and time-consuming. 

New users may need to provide their telephone number for activation and notifications, a government-issued ID, a palm scan, and a current photo taken by the ATM’s camera. Bitcoins only exist on the blockchain and can’t physically stored, meaning that it’s difficult to prove your ownership of them. However, there are some ways you can show ownership or ownership of parts of them: you can provide specific information like a private key or password when starting a transaction with Bitcoin or by sending transactions from your Bitcoin wallet.

Withdrawing funds

If you want to exchange Bitcoin for cash, the most common way is to make a bank transfer or ACH after selling your BTC on an exchange. Alternatively, transfers can done via the Single Euro Payments Area (SEPA). 

The SEPA designed to make transfers between EU countries more efficient for Supported Cryptocurrencies.

Transfers through both of these systems can take a long time and incur additional charges. It’s worth doing your research to find the bank that best suits your needs for opening a Bitcoin-specific bank account.