Introduction
Wondering How to Sell Your Bitcoins?
Want to Cash Out Your Bitcoin for The Fiat Currencies?
Or Just Hoping to Sell A Part of The Bitcoin?
If you are here with the queries, we have just mentioned above. Then you are in the right place. This guide will take you to the step by step enumeration to sell your Bitcoin in the most efficient way.
When it comes down to selling a Bitcoin, there are several ways. However, these ways depend on the factors:
- Quantity of the Bitcoin you want to sell.
- How urgent you need your money.
- From which country you belong to.
- What platforms would you like to receive money?
Here we have given the most common method that is used by the traders and investors.
Steps to Sell Bitcoin
There are many ways in which you can sell your Bitcoin. Here we have taken the website method.
Step 1: Find the Relevant Website
There are different types of Bitcoin selling websites and platforms on the internet. Each platform caters to different kinds of services. Some platforms charge low fees, while some have high liquidity properties. Your needs and requirements will influence you to go with the best website possible. However, you need to ensure that the website you choose is reliable.
Here are a few points that you can add to your checklist to ensure that you are affiliated with a good website.
- Ensure that the website supports respective bank accounts.
- The website should have enough trust from the other audiences.
- The website needs to have a pair of your country currency and Bitcoin.
- Look for the best volume to enjoy a high selling price.
- Low Exchange fees.
Step 2: Create Your Account
Once you find a website that supports your country, the next step is to create an account. This process is very simple, but it might take time. So be patient about it. Usually, it takes around 5 mins to 2 days, depending on the country you are living in.
The process starts with your email ID, where you will receive a code to verify your authenticity. The accounts come with several levels. You can use the basic level if you have a fraction of Bitcoin to sell. However, if you have a high volume to sell, it is advisable that you get upper-level verification.
Step 3: Transfer Bitcoin
Now that you have created an account go to the wallet section of the website. You will be able to see unique Bitcoin deposit addresses. This address will store all your Bitcoin assets. You can now transfer Crypto assets to your wallet. It might take one hour to complete the whole process.
Note: if you are new to the world of Crypto trading, it is important that you check whether the wallet is working properly or not by transferring a minimum amount of Bitcoin. If you see that it is smoothly transferable, go for the full-scale transfer.
Step 4: Put A Sell Order
Once you have transferred Bitcoin into your wallet, you are all set to place your sell order. At the time of placing your order, the price of the Bitcoin is automatically adjusted with the current market. And when a trader finds your offer appealing, they can ask you to sell them.
Step 5: Cash Out Funds
Once you have sold the Bitcoin, fiat currency will be sent to your wallet. You can either transfer all your fiat currency into the bank account or can use other payment apps like PayPal to do the same. Though the process is very simple but takes time depending on the country you belong to and the website’s policy.
Conclusion
Overall, selling Bitcoin constitutes only these five simple steps. You may come across other platforms that might have different steps other than what we have mentioned here. However, the context remains the same.
If you are interested in Bitcoin and are looking for a platform that can help you buy bitcoins, we can assure you that wealth matrix will get the job done for you.
Check out Techdee for more crypto-related news.