Selling Bitcoin is not as difficult as it was years back. It is pretty easy to trade bitcoin quickly, and it will be more accessible in 2021. There are different selling platforms for bitcoin; it is crucial to choose the most favorable location with very fair and reliable exchange rates.
The Top Ways to Sell Your Bitcoin in 2021
Direct trade is the process of selling your Bitcoin to an individual directly. Most people ask; can you trade crypto 24/7? And the answer is yes. Direct trade is made when you scan the person’s wallet or QR code instantly. After the transfer using the code, the individual transfers your funds to you through other means. This process is relatively easy as you can negotiate directly without any intermediary.
Use an Exchange to Sell
Exchange is the most common way of selling Bitcoin. A crypto exchange is a platform created to sell and buy Bitcoin. This process works with three parties: the buyer, the intermediary (Exchange), and the seller.
Buyers and sellers do not communicate directly; everything goes through the intermediary.
The exchange process is convenient, and the exchange manages your details.
The peer-to-peer marketplace is similar to the exchange option because it also uses a trading platform to buy or sell Bitcoin. You do not transact using an intermediary; you make negotiations yourself without a trading fee.
A Bitcoin ATM is a feature that allows you to trade your Bitcoin in exchange for money. It looks like an ordinary banking ATM; the only difference is that you sell off Bitcoin, using your wallet, in exchange for cash. It is one of the latest forms of selling Bitcoins. You pay for services; sometimes the service charge is high.
It is imperative to apply caution when selling your Bitcoin to avoid technicalities.
Make sure to keep your passwords safe. Apply extra security measures like two-factor authentication.
Things to Note Before Selling Your Bitcoin
It is essential to note some steps before selling off your bitcoin. Some of these steps include:
Your Currency Exchange Rate
First of all, you should determine what currency you want to cash out in, whether it be the USD, EUR, or whatever currency you choose. Not all exchange bodies pay in dollars or other currencies. It is crucial to select the platform that delivers your desired amount of money.
Create a Crypto Account on a Selling Platform
Creating a cryptocurrency account on your selected selling platform is the next big step to take after determining what currency you prefer.
In 2021, there will be many selling platforms for cashing out your Bitcoin. There are also other methods of selling off Bitcoin without creating an account on a selling platform, like selling to someone you know or using the Bitcoin ATM. The account-creating process is relatively easy. From getting a username and password to authenticating your account, you are ready to start selling.
Transferring Coins to a Selling Platform
After your cryptocurrency account is created on a selling platform, the next step is to transfer your coins to the forum by clicking on “Sell” or “Deposit.” After this, you will be given a QR code or a wallet address. You will then scan your Bitcoin wallet and check the number of coins you would like to sell.
The way and manner in which you want to sell your Bitcoin are selected at this point.
You determine how much you want to sell at this point; it is a process of negotiation and bargaining with the supposed buyer.
At this point, you either work with an exchange or a broker. With a broker, you tend to go for any price offered by the broker, but selling with the exchange button allows you to choose the amount you want to sell at.
Top Bitcoin Exchange Sites
The top three most reliable Bitcoin exchange platforms in 2021 are:
Coinbase is the most common Bitcoin exchange platform. Its features include a high liquidity rate, easy ways for new bees to buy bitcoins, and instant buy available with a debit card. Its fee is usually 0% to 0.50%.
With a 30% referral commission and an account minimum of $30, Coinmama is efficient. It is accessible in almost all countries around the globe, with the highest credit card limit. Coinmama has a reliable and trusted broker service for its customers.
Coinbase Pro does not have an account minimum; its fees are from 0% to 0.5%. Coinbase Pro has some of the lowest fees available. Coinbase is great for buying a large amount of crypto.
In conclusion, you must be sure of the security measures available on every platform before you transact with them. Transactions are usually public on some selling platforms, so you should be cautious when trading.