As a bitcoin trader or investor, one of the most important things to know is when to buy and when to sell your bitcoin for a maximum. This brings the question of how and where I can sell my bitcoin.
There are different ways you can sell your bitcoin. You can sell your bitcoin online through cryptocurrency exchanges and peer to peer platforms, and also offline by meeting the buyer in person.
You can also sell your bitcoin using the Bitcoin ATMs. The prices and fees attached to the sales of bitcoin differ, same as the security level, privacy, and convenience depending on the method you use to sell your bitcoin.
Tips On How To Sell Bitcoins on Cash App, Luno & Coinbase
In this blog post, we’re going to discuss extensively different methods you can sell Bitcoins. In addition, you’ll learn about the feature of these platforms, what makes them stand out and their cons.
Before you go on with it, the first thing you need to know is figuring out how much bitcoin you, especially if you have them stored in a paper wallet and you are going to need the Wallet of the person who is going to buy the coins. It is noteworthy that this section will be in different categories.
I. How To Sell Bitcoins Using Peer To Peer Platform
You can get a buyer for your bitcoin by using peer to peer platforms like Paxful or Localbitcoins.com. You might be required to verify your identity for security purposes and you will have to find a buyer who is willing to pay the amount you are requesting for the sale of your bitcoin.
II. How To Starting Selling Bitcoin Face To Face
You can get your buyer from the peer to peer platforms mentioned above, then agree on a price and set up a time and place to meet so that you can sell your bitcoin by scanning a QR code on the phone and get your cash immediately. This method of selling bitcoin does not provide anonymity.
If you are worried if it is safe to meet a buyer in person, you can view the feedback and review of other people about the buyer on the peer to peer platforms.
III. How To Sell Bitcoins Using The Bitcoin ATMs
You can use the Bitcoin ATMs to sell your bitcoins. Compared to the other methods it charges a transaction fee of about 7% which is expensive. You can locate any Bitcoin ATM nearest to you using the site Coinatmradar.com.
Out of all the methods mentioned above, using crypto exchanges can help you sell your bitcoin at a higher rate while using a peer to peer platform offers a lower transaction fee.
IV. How To Sell Bitcoin Using on Cash App
Cash App is a payment app that allows you to send money to anyone with just their phone number. You can also use it to buy Bitcoin. It’s super easy and fast.
It’s never been easier or faster for people in the US to get bitcoin, thanks to the Cash app which lets you buy bitcoin easily by linking your bank account. Notice: before you get to the stage of sending funds to the seller, there are steps you need to take, especially if you don’t have a Cash app account: registration, verification, and sending funds.
- To register, download the app on your phone or go online at cash.me. You will need a valid ID for registration which can be either a driver’s license or passport (though it is best to use your driver’s license).
- If you don’t have one of these IDs then you can upload an image of another form of identification like a work ID card or utility bill with your name and address on it.
- Next, verify yourself by entering in some personal information about where you live including what city/state/country that you reside in as well as your birthday.
After you’ve successfully created and had your Cash App account verified, the next thing to do is look for a seller, have the bitcoin transferred to your wallet, then send the funds to his/her account.
V. How To Sell Bitcoin on Robinhood
If you’re new to crypto, or just want a quick and easy way to buy Bitcoin on your phone. As of early 2019, Robinhood is the only mobile trading platform that offers free Bitcoin purchases, something that is unmatched by Coinbase or any other competitor.
They also have no fees for selling your coins which can be helpful if you’re looking to get rid of them quickly.
- First, download the app and set up an account.
- Next, go to “Balances” and select which coins you want to exchange for USD – BTC should be one of them.
- Then press “Sell.” You will get a pop-up asking you what amount of coins you would like to sell for USD.
- The next screen will show the total amount after fees that will be deducted from your balance before it goes through, so make sure that this number is higher than your target price per coin.
- Once ready, click Sell again and wait for confirmation that it.
VI. How To Sell Bitcoin on Luno
Selling bitcoin on Luno is a one-step process. You can sell your bitcoins in four simple steps:
- Click on ‘Sell Bitcoin
- Enter the amount of bitcoin you want to sell and the address where you want to send funds.
- Review the transaction details and confirm by clicking ‘Send
- Get paid
IIX. How To Sell Bitcoin on LocalBitcoins
LocalBitcoins is an online service that allows sellers and buyers of Bitcoin to find each other on their platform. All you have to do is register with them, upload some pictures of your government ID (just in case) and then post a listing for your coins.
You can set the price at whatever amount fits your needs best – usually between $900-$1,300 per coin – or if you want more exposure put it up for auction.
Once someone has made an offer on the product they’ll be able to send their payment directly through PayPal which will make everything much easier.
Ix. How To Sell Bitcoins on Blockchain
Blockchain has made it easier than ever for anyone with a smartphone to use Bitcoin as a form of payment. The only thing you need is an internet connection and your Bitcoin wallet, which can be downloaded on any device or laptop that can access the web.
It’s really easy: just log in, go to “sell” and enter the amount of Bitcoins you want to convert into dollars (or whatever value).
X. How To Sell Bitcoin on Coinbase
The price of Bitcoin has skyrocketed so now might be the best time to take advantage of its growth. If you’ve been waiting for an opportunity like this then here are four steps that will help get your money into fiat currency more quickly than ever before:
- To start off with, go ahead and create a Coinbase account by visiting their website or downloading the app from the Play store.
- Link bank account and add a payment method, but make sure the information you provided is correct. You can do this by rechecking.
- Sell BTC at the current market rate.