Over the years, Bitcoin, the first cryptocurrency to be ever launched, has seen a remarkable growth in popularity. Many people have now invested in it and the lucky ones are seeing massive returns from their investment in the digital currency. However, there will always come a time when a Bitcoin holder wants to cash out their virtual currency for whatever reason.
It is common to find some of the people holding Bitcoin searching “How do you sell Bitcoin for cash?” To help such people find answers about some of the ways they can sell Bitcoin for cash, this article looks at some of the top safe and secure methods.
Peer-to-peer (P2P) platforms
There are platforms that help people buy and sell bitcoins by connecting buyers and sellers so they can transact directly without any intermediaries. Some of the P2P platforms that you can use to sell Bitcoin for cash include LocalBitcoins and Paxful.
The beauty of P2P platforms is that they offer users more flexibility when it comes to prices and even payment options. Here are some of the steps you will need to follow when you want to sell your Bitcoin for cash using P2P platforms:
· Create an account on a P2P platform of your choice
· Set up a sell offer which involves specifying the amount of Bitcoin you wish to sell, your preferred payment option, and your location
· Wait for a buyer to accept your sell offer as per your terms
· Schedule a secure meeting or better still, use escrow services. These services safeguard both parties by only releasing the assets to each after they’ve both done their end of the bargain.
Crypto exchanges
Cryptocurrency exchanges are another method to consider if you’re searching “How do you sell bitcoin for cash?” These are some of the best and most secure ways to trade Bitcoin, and you should consider using them for a smooth and hassle-free sale.
To sell your BTC using a crypto exchange, follow these simple steps:
· Select a reputable well-established crypto exchange with a good history
· Open an account with your chosen crypto exchange by providing details like your name, contact, and email address
· Verify your identity if the exchange requires users to do so. This entails providing government-issued identity documents like a passport, ID card, or driver’s license.
· Create a sell order by indicating the amount of Bitcoin you want to sell and your desired price
· Withdraw your sales proceeds by transferring the cash to the bank account or virtual wallet you’ve linked to your exchange account.
Bitcoin ATMs
Are you searching “How do you sell Bitcoin for cash urgently and conveniently?” You can consider using a Bitcoin ATM. Below are the steps to follow:
· Use an online Bitcoin ATM locating tool to find a machine in your area
· Once at the ATM verify your identity if the machine is one of those that requires users to do so
· Transfer to the machine the amount of Bitcoin you want to sell
· Receive the amount of cash equivalent to your transferred Bitcoin
Over-the-counter (OTC) brokers
If you want to sell huge amounts of Bitcoin, you can consider selling through OTC brokers as they offer a private and efficient way to sell BTC. You need to find a reputable broker, negotiate the price as well as payment terms and on transferring the coins to their wallet, you receive cash as per the agreed-upon terms.
Conclusion
You don’t have to worry looking all over “How do you sell Bitcoin for cash?” There are several methods you can use including P2P platforms, Bitcoin ATMs, crypto exchanges, and OTC brokers. Irrespective of the method you choose, ensure it works best for you, is safe and secure, and has reasonable fees.
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