Best way to sell btc for usd

Withdraw your money as cash, transfer into your bank account or through a third-party platform. Although there is plenty of information out there on what bitcoin is and how to trade it, you also need to make sure you can sell it. To sell your bitcoin, you just need to go to an exchange and click to sell your bitcoin.

Then you can choose how much you want to sell and move your cash to a bank. If you want to turn it straight to cash instead, then you should go through a bitcoin ATM. There is no one best way to sell bitcoin. However, for most beginners, using an exchange is the best way to go. Is It Easy to Sell Bitcoin? Yes, you can sell bitcoin with just a few clicks. As one of the most well-known cryptocurrencies, basically every exchange will accept it, and there are always buyers looking to make a purchase.

Can Bitcoin Be Converted to Cash? You can convert bitcoin to cash directly, either through a bitcoin ATM or a peer-to-peer transaction and choosing to sell it in person. This last one is easy with our guide on how to buy bitcoin , but the other two are still important. The exchange allows you to buy bitcoin from sellers, and the wallet gives you somewhere to store it long term.

When choosing an exchange, you should look for one with many users, good customer support and low fees. Three particularly popular exchanges with newcomers are Coinbase, Robinhood and Binance. On the other hand, wallets can be much more complex. These are generally more secure than most exchange wallets, but there will be transaction fees whenever you move money into or out of this wallet.

You also need to choose which type of wallet to get. You can also use the QR code displayed underneath for quicker trading. How to Sell Bitcoin? There are several ways to sell bitcoin, each with benefits and drawbacks, so you should consider which is the right one for you before continuing. Exchanges Exchanges are the simplest way to sell bitcoin. Online P2P Trading Rather than doing the work for you, a peer-to-peer P2P exchange lets you choose your price, and the platform helps find a buyer willing to pay it.

The two parties then decide between them how to pay. You can sometimes do this on the site — often called direct trades — but normally, you would use a separate bank transfer. P2P trading allows you to sell cryptocurrency without the limits of an exchange.

However, this is still a good step if freedom of choice and minimal interference are your priorities while still having access to things like escrows to hold the bitcoin for protection from fraud. Bitcoin ATM A good exchange is fine, but if you want to avoid any prying eyes, then cash is the way to go.

Much like a regular ATM, these machines let you enter your bitcoin wallet address and withdraw cash. Processing times. How long will it take for the fiat currency to arrive in your wallet or bank account? For example, while cash withdrawals are instant, bank transfers can take several days to arrive. Any other restrictions. For example, some exchanges will require you to withdraw funds using the same payment method with which you made your deposit.

Factors to consider when selling The best way to sell Bitcoin is subjective and varies based on your circumstances. What works well for one person might not be a good fit for the next. Instead, it's about working out which option is the right choice for you. You can do this by asking yourself a few important questions: Do you want to sell Bitcoin for fiat or another cryptocurrency? How quickly do you want to sell your Bitcoin? Are you willing to accept a price well below the market rate or do you want to negotiate the best price possible?

If selling for fiat, how do you want to receive payment? These questions should help you decide how you want to sell your Bitcoin, and you can then figure out which platform has all the features you need. When comparing different cryptocurrency exchanges, make sure you consider the following: Price.

How does the exchange rate compare to those offered by other platforms? Compare any trading fees that apply and whether there's a fee for withdrawing funds into your bank account or cryptocurrency wallet. Trading and withdrawal limits. Is there any limit on the amount of Bitcoin you can sell, or on how much fiat currency you can withdraw from your account? Security features.

Are there any security measures in place to help protect your funds and your private data, for example, 2-factor authentication or a reputation system for buyers and sellers? Customer support. If something goes wrong with your transaction, how can you contact customer support?

During what hours is support available? Reputation and reviews. Seek out online reviews and check crypto forum posts from other users to find out whether they recommend a particular exchange or trading platform. There are several other important factors, such as where an exchange is regulated and the payment methods accepted by peer-to-peer trading sites.

For a full breakdown of the features to look out for, check out Finder's cryptocurrency exchange guide and discover tips on how to choose the right platform. Alterative ways to sell Bitcoin P2P marketplaces Peer-to-peer or P2P marketplaces are one of the most popular alternative ways to sell Bitcoin. P2P exchanges require no identity verification, allow you to browse through buyers and see offers for each type of accepted payment method.

They also do not require you to give up custody of your funds. To sell your BTC on a P2P marketplace, you simply register, post what you have for sale, how much you want for it and acceptable payment methods. You will need to note any extra fees as well. Then you wait for a buyer to contact you. P2P sales are done using arbitrators and escrow and are surprisingly safe to do.

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That is all it takes. Once you have the bitcoin on an exchange, such as Coinbase and Gemini, you can painlessly sell it. LocalBitcoins is a person to person trading site where people can post their own bids for the buying and selling of Bitcoins to USD or other local fiat currencies.

Not only is there no identity verification, but there are sometimes great arbitrative opportunities depending on how desperate a person is to buy bitcoin and how many other sellers there are in the area. This can create the ability to sell your Bitcoin above market value. So how does it work? Find or Post your Deal After determining the amount of BTC you want to sell, find a deal that suits your payment method currency wise or post your own listing.

LocalBitcoins gives each user a feedback score similar to eBay where users can get comfortable with the history and number of deals the buyer has completed through local bitcoin. Initiate the Trade Now that you know your buyer, send the details of exactly what you want from them and make sure you are complying with the terms of the trade. These will tell you where and how you will receive your USD payment.

Also, remember to fund your Local Bitcoins wallet address so you can initiate the transaction based on the minimum about of BTC referenced in the trading request. At this point, the buyer will get your payment details how do you want to get paid for your BTC and release the USD equivalent in cash over to you via the agreed upon manner. When you have received the payment, you will confirm to Localbitcoins.

That is it the trade is done! Conclusion As bitcoin and cryptocurrency continue to explode in popularity, more and more services are coming online to help users get their hands-on bitcoin or turn their bitcoin into USD or other fiat currency in a quick and effective way.

Users who have used CoinBase in the past know that they charge hefty fees when buying and selling Bitcoin, but BitPanda charges a smaller fee. The website features tens of thousands of classified listings, including ads for people willing to buy or sell digital currency. You can also check out Craigslist and Facebook Marketplace if you want more diverse options. Sell Bitcoins in Australia If you live in Australia, check out preev. This site allows users from all over the world, including Australians, to conduct transactions online through bank transfers and local meetups.

Sell Bitcoins around the World Selling bitcoins is hard work, and it takes time. Fortunately, there are now plenty of options for those looking to sell their bitcoins safely and conveniently. Sell Bitcoins for Cash Paxful is a peer-to-peer marketplace that allows individuals to safely buy, sell, send and receive bitcoin using cash deposit or PayPal as payment methods. The site features over payment options, so any country-specific currency is valid to purchase bitcoins at a low fee.

Users can place ads with specific payment or shipping instructions, and interested buyers will contact them to purchase bitcoins using the advertised payment method. The site makes it easy for users to buy bitcoin online from local sellers quickly and safely without having to use a bank account. Paxful also features an escrow service that holds funds until the transaction is complete, and trusted sellers can earn positive feedback for their efforts.

LocalBitcoins LocalBitcoins is one of the top peer-to-peer exchanges that allow bitcoin buyers and sellers to meet up locally or use an online escrow service. Local Bitcoins also enables users to purchase bitcoins using PayPal for a small fee. Once the transaction is complete, LocalBitcoins will release funds to the buyer or seller, depending on who initiated the transfer first.

Alternatively, buyers and sellers can use an escrow service that holds bitcoin until all parties are satisfied with any transactions during the trade. Sellers should be aware of scams that can take place during in-person trades. BitQuick BitQuick is a peer-to-peer bitcoin exchange. BitQuick is very similar to LocalBitcoins, but serves more countries and offers higher buying limits for many of its services. In addition, BitQuick provides an escrow service for Bitcoin transactions for thousands of American banks.

Although they charge a fee of about ten percent, using BitQuick is a fast and convenient process. Private Sale You can find someone on localbitcoins. You agree on a price over the phone or in-person and meet someone locally who will pay for it with real money. This service allows users to deposit cash into a machine and receive the equivalent amount of bitcoin.

However, since ATMs have fees of about ten percent, they are generally used for cashing out rather than buying bitcoins. The device will let you convert bitcoins into cash in just seconds. Conclusion If you are a beginner to the crypto scene, knowing which method is best for cashing out your bitcoin can be difficult. The five methods discussed in this blog post all have their pros and cons but may suit different people better than others, depending on what they want from the process.

If you have to meet for a face-to-face transaction, you should meet sellers at a public location. You should also avoid using bank accounts or online wallets to transfer funds and never reveal personal information until secure transactions are complete.

Buyers looking for quick purchases without the need to establish trust with the seller may want to consider escrow services to be sure payments are going smoothly. Matthew Baggetta Matthew is a B2B SaaS content strategist currently working as an Editor at a major financial technology services company.

Before that, he worked at Blockgeeks as their Chief Content Officer; where he successfully created the most comprehensive and accessible library of crypto and blockchain courses in the world. Matthew is all about helping organizations master their buyer's journey and helping to create strategic content plans that achieve measurable business outcomes.

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