As a currency existing in the digital space, buying and selling bitcoin online is the most common way of engaging in bitcoin trade. There are countless websites and currency exchanges supporting bitcoin today, so if you want to sell bitcoin online, you don’t need to look very far to find a place to do it.
These are the three primary ways you can sell bitcoin online:
- Exchange your bitcoin for another currency
- Exchange your bitcoin for altcoins
- Use bitcoin trading marketplaces to sell your bitcoin online
Exchange Bitcoin For Another Currency
Using a currency exchange will make things easier when the time comes for you to sell your bitcoin online. There are a number of currency exchanges that you can choose from, just ensure that you choose a reliable, reputable and transparent exchange that also offers a reasonable rate of exchange and lower fees.
These are some of the currency exchanges we recommend, although there are hundreds, many of which are worth their salt:
Once you’ve chosen your bitcoin exchange you can set about creating an option to sell your bitcoin directly to one of the other users or to the exchange itself. You would receive a current rate of exchange and then be given the choice of currency that you wish to receive in exchange. This can then be deposited straight back into the account you have linked to the exchange.
Exchange Bitcoin For Altcoins
This works in exactly the same way as selling bitcoin for another currency, except you would exchange it for altcoins instead of standard currency. Many of the bitcoin currency exchanges we mentioned will allow you to sell your bitcoins online for altcoins, but just make sure you are getting the best deal before you make the commitment.
Use Bitcoin Trading Marketplaces
Bitcoin trading marketplaces offer a fairly unique way of selling your bitcoin online. It basically works as an intermediary between you and prospective businesses and is known as peer-to-peer trading. You sell your bitcoin amount to the trading marketplace in exchange for products or services that you require to the same value.
Places like OpenBazaar and Purse offer you the opportunity to buy anything listed on the website with your bitcoins, sometimes for discounted amounts because you’re paying in bitcoin.