You may know how to trade Bitcoins. But do you know how to maximize the profits or utilize the profits that you earn? And that will be frustrating as you must have a lot of capital tied up. This article will help you to understand the right selling process that will allow you to enjoy the profits as well. If you are into Bitcoin trading, consider choosing a safe and secured platform that will help you out in your trading journey. Visit https://1g-profitsystem.com/ for more information.
Selling Bitcoins- What Are Some Procedures?
Buying BTC is possible via several routes. But when you want to sell off the BTC, you have plenty of avenues and ways including the online cryptocurrency exchange or direct peer-to-peer transactions. If you can successfully detect the best way to sell BTC, you can fulfill your wants and needs. It’s time to go through the common solutions that can help you to decide how you would like to sell your bitcoins.
Exchange Platforms
If you want the simplest way out, you just have to use the cryptocurrency exchanges to sell BTC. The trades are usually instantaneous, and you will receive the transaction receipt immediately.
You can monitor the pricing live, which helps in selling the Bitcoin
- at the intended price margin.
- There is a minimum chance of anything going wrong as the exchanges maintain a clear transaction process and detailing.
However, when using an exchange platform to sell Bitcoins, you should note that every exchange platform will charge a fee as the service charge to run the application. Naturally, this won’t be the cheapest way out. It can limit your method of payment options too. Moreover, you may not like the idea of the presence of some centralized organization that will be monitoring the transactions.
Online Peer-To-Peer Trading
Another way of selling crypto is by using online and offline modes. There are many specialized platforms that exist for P2P Bitcoin sales. These platforms will help you trade Bitcoins for cash.
- You can choose the price
- The platform will help find the buyer who is willing to pay the amount.
Now when you both agree to pay or receive the payment, it involves separate bank transfers. You don’t have to sell cryptocurrency within the limitations of the exchange. So, it implies that you can do a wire transfer or trade the cash in the real world, send gift cards to the popular online stores or send some expressive art. As long as both the parties agree to the transaction, and you are in the P2P marketplace that won’t limit your payment methods, you can conduct the transactions easily.
Face to face transactions
Selling the Bitcoins P2P in person is again, a possible method. Certain online platforms allow selling BTC in person for cash. You can ask your friends to do the conversion of Bitcoins transactions for cash. But when you want to sell Bitcoin in person, you have to understand how to send Bitcoins and also work with the crypto wallet. You should also understand how to use the platformswhere you hold your funds.
The value of Bitcoins fluctuates constantly. So, it is vital to know what the price of the BTC is at the moment you are planning the in-person sale. You can use the rates available at any prominent exchange or the various online platforms that can help in identifying the latest price of the BTC.
In some countries, there are even physical locations where interested Bitcoin owners can go and exchange Bitcoins for physical currency. But you have to accept the discrimination across the different exchanges that is called “premium.”
Bitcoin ATMs
Despite resembling the traditional cash machines, the Bitcoin ATMs are not the standard ATMs that you see. These ARMs will scan a wallet QR code and then allow you to sell BTC for cash. With the help of the Internet, you can easily track the locations of the Bitcoins ATMs.
However, such ATMs charge a high transaction fee, and it will be higher than the service charge on any other platform. You should note that some Bitcoin ATMs don’t allow both selling and buying functionalities; you should verify whether the ATM you have selected allows trading Bitcoins.
Final Words
These were some points you needed to keep in mind when selling off your traded Bitcoins. Hopefully these points will ensure a smoother and hassle-free process of selling Bitcoins.
