Bitcoin exchange is gaining popularity. Cryptocurrency exchange platforms are used for trading. The creator of Bitcoin, Satoshi has over a million Bitcoins. Initially people may not be that interested in Bitcoins but now it is the opposite situation. A massive number of people are interested in investing in Bitcoin. When planning to start investing in cryptocurrencies, at first, you need to prepare yourself for creating an account in a reputed and trusted cryptocurrency exchange platform ethereumcode.app/. The following segment will highlight some of the important steps that will help you sell Bitcoin with ease.
Understanding the steps to sell Bitcoin using the Bitcoin exchange platform
1. Create an account- Firstly, you need to create an account in a crypto exchange platform. In fact, using the crypt exchange platform is the easiest way to convert Bitcoin into cash, such as converting bitcoin to naira for Nigerian users. Make sure that you choose a trustworthy crypto exchange platform like Bitcoin Era. There are other options, so you must begin with shortlisting a few ones and compare them based on their reviews and ratings. Once that is done, you can then choose to create an account on your chosen platform. There are some crypt exchanges that offer easy registration, while there are others, which may take some time to process the information. Hence, you must check for all these options before making a decision.
2. Transferring Bitcoin to the wallet– Once you have successfully created an account and registered the same, you must transfer the Bitcoin to the exchange wallet. On an important note, you have to ensure doing a thorough study to make the transferring of Bitcoins the hassle-free way. The options that you have are cold or hot wallet. Similar to choosing the crypto exchange platform, you must also search well about the different crypto wallets. One of the key aspects that you must take into account is that you must choose a safe and secured crypto wallet. To access the wallet, you will have the key, which should be kept safe with you and not exchanged with the others.
3. Begin the procedure- After you have created the account, linked it with your bank, and deployed Bitcoin on the exchange, you can start the trading process. If you are keen on investing in Bitcoin, select Bitcoin and choose the destination where you want to send the Bitcoin. When you see the crypt exchange platform, you will find different cryptocurrencies over there.
Alternative ways of selling Bitcoin
There are other ways to sell Bitcoin, which we have discussed below:
P2P selling- The first method is P2P selling, for which you have different platforms. This works in a simple manner. The buyer’s list on these platforms. You must find such buyers and then write down their quotes and mode of payment. Now that you are aware of the listing, you can complete the sale by following the instructions mentioned on the P2P platform. Such a platform also has an escrow option that keeps both parties’ money secured, which also ensures faster transfer. Based on the payment option, the seller receives the fund directly to their bank account or wire transfer or card as mentioned by them.
Face-to-face transactions- Another alternative method of selling Bitcoin is by face to face selling. You can find platforms that allow direct selling of Bitcoin for cash. In such cases, the interested parties can meet and then they can sell the Bitcoin directly to them in exchange for cash. However, this can be tricky as you don’t know who the interested party is and whether they can be trusted or not.
Bitcoin ATM- This is also a popular option for selling Bitcoin. For this, having an account with the ATM operator is crucial. Simply log in to the account and then select the Bitcoin address where you want to send Bitcoin. Once you have created an account, you can visit the needed Bitcoin ATM locator and then start using the same. However, you must know that after selling the Bitcoin, you will get verification, but it may take some time for this.
We are going to see increased usage of Bitcoin and other cryptocurrency, hence acquainting yourself with the information on Bitcoin will be helpful. This was the basic idea of selling Bitcoin. Remember, doing the right search and understanding the options is paramount. Once you have assessed the right method, you can go ahead with the buying and selling of Bitcoin.