With the rise in the value of bitcoin, one might ask the question why you’d want to sell your bitcoin, but there are instances where people need to get rid of their bitcoins, are battling financially and need to cash them in, or they are trading with bitcoins. As the market rises and falls, bitcoin traders are buying and selling to maximise their profits.
You can sell your bitcoin in person, but we prefer to advocate online methods. Making use of a currency exchange will make the process simple and straightforward, plus you will benefit from the current rate of exchange and the transparency of the exchange you choose.
You can sell bitcoin completely anonymously too. Sell it for cash or for PayPal funds or buy into another cryptocurrency. The choices are vast.
How To Sell Bitcoin
Selling bitcoin is a little more administration heavy than buying bitcoin, but it’s still an easy enough process that can be completed fairly quickly. The first thing to do is choose the currency exchange you wish to work with. There are loads to choose from and this could be the most time you actually spend during the entire process of selling your bitcoin. When looking for the right currency exchange, consider these points:
- Is it an established business?
- Does it have a large following?
- Is it completely transparent in its dealings?
- Are the fees charged in line with the current norms?
- Do you need to pay for an account or is it free to set up? Most are free
- Does it also deal in other cryptocurrencies or altcoins? This might be something you want to look into in future and would be a necessity if you want to trade your bitcoin for altcoins
- Has it received any negative press?
- Most businesses will have some kind of negative press associated with their brands, but how severe this is and how they deal with it will be the important factors
Read more on how to sell bitcoin.
Sell Bitcoin Online
Since bitcoin is a digital currency, it makes sense to sell it online. There are four ways that you can sell bitcoins online:
- You can trade directly
- You can exchange bitcoin for another currency
- You can exchange bitcoin for another cryptocurrency
- You can make use of bitcoin trading marketplaces
Read more on the detail of selling bitcoin online.
Sell Bitcoin Anonymously
Many people don’t want the world knowing about their investment habits or trading patterns, which is why the fact that you can sell bitcoin anonymously is a huge advantage. There are three main ways to sell bitcoin anonymously:
- Sell bitcoin face to face with another person
- Sell bitcoin for cash
- Sell bitcoin through a bitcoin ATM
We go into each of these in more detail on the Sell Bitcoin Anonymously page.