Bitcoin is the decentralized currency system that was released in 2009. Since then, the investors are looking for huge gains through investment in this digital currency.
Buying a Bitcoin is quite simple and you can manage this process easily. However, selling is not so straightforward because it involves several important factors to be considered. To understand how to sell Bitcoins, you should understand the main methods of cashing out this digital currency. You can either sell them online or in person. Selling the Bitcoin online is a popular method. Here are the ways in which you can sell your currency on the web.
1. Selling Through Direct Trades:
There are many websites that support this selling structure for Bitcoins. You should register on these sites as a seller. The process of registration includes verification of your identity. After registration, you can post your offer to sell the bitcoins and the website will send you a notification when it finds an interested buyer willing to trade with you. You can trade through the website but the interactions will be made directly to the buyer.
2. Selling Through Exchange Trades:
You can also sell your Bitcoin through an online exchange. It is the most popular method of selling Bitcoins. The selection of exchange should depend on the country where you reside and currency in which you want to convert it. Here also, you should get your identity verified by the exchange. These exchanges work as intermediaries holding the funds of many investors. You can place a sell order with the volume of sale, currency in which you intend to sell, and the price per unit you want to earn on it.
Whenever a buyer places a matching buy order, the exchange will enter the scene for completion of transaction in an effective manner. In this regard, there is a downside that you need to withdraw your funds in the form of fiat currency to your bank account. However, this process may take a long time if the exchange has some liquidity issues or problems with your bank.
3. Selling Through Peer-To-Peer Marketplaces:
When you want to know how to sell Bitcoins, you should explore all the options including peer-to-peer marketplaces. They bring together the group of investors having complementary requirements. They act as an intermediary and provide a Bitcoin wallet, trading platform, and escrow for making transactions. Buyers willing to use Bitcoins on e-commerce sites that do not accept digital currencies can place their wish list on this marketplace. Another buyer looking to buy bitcoins through debit/credit cards can accept the trade and buy the goods from this wish list through the marketplace. Here, the Bitcoins are released from escrow when goods are delivered to the first buyer.
These are the main methods for selling Bitcoins online.