How to Sell My Bitcoin for Cash – Greatest Insights to Help You
Most Bitcoin investors are currently enjoying a good profit because its value has been growing steadily. With the stability, this is the right time to make a sale. If you are not an investor but have Bitcoins to sell, this is also a good time to look for a buyer.
Right now, I will take you through to how to sell my Bitcoin for cash so that you can take notes. They are easy steps that anyone can take to avoid losing Bitcoin investment and make profits.
Get a Basic Bitcoin Exchange
Whenever I am wondering how to sell my Bitcoin for cash, the first step is to choose a basic exchange platform. This could be an online account or an offline one. If you too are wondering about the same thing, take the time to choose an exchange from these options:
· CEX platforms – These centralized exchanges are popular among crypto enthusiasts and can be accessed online through a computer or mobile app. They facilitate exchanges fast and send your cash right to your bank card.
· DEX platforms – These decentralized exchanges are also popular and connect people to exchange their Bitcoins and other crypto coins in person. Hence, they are called peer-to-peer platforms.
· Bitcoin ATM – These are physical outlets to help you exchange Bitcoins for cash through easy steps. They are also my favorite option whenever I am wondering how to sell my Bitcoin for cash.
· Physical exchange offices – You may also prefer to use a physical crypto exchange outlet in your area. Most of them have an assistant to guide me on how to sell my Bitcoin for cash. The process is simple and straightforward.
Prepare Your Bitcoins
To completely understand how to sell my Bitcoin for cash, I need to assess my Bitcoin wallet and understand the number of Bitcoins I have and how much I need to sell. Some factors such as the current value of Bitcoin, the need to sell, and others will determine the number of Bitcoins to sell.
If you have a reliable exchange platform, you can create an account and transfer the Bitcoins you intend to sell. This only applies when using CEX and DEX platforms because physical exchanges usually facilitate direct trading by scanning your Bitcoin wallet QR code.
Complete the Exchange
At this point, I can say that I know how to sell my Bitcoin for cash. You too have learned something by now, right? The other important step is to complete the transaction. When using online exchanges, all you need to do is hit the sell button and follow the prompts. It is also the same case when using a Bitcoin ATM. But when using a physical outlet, an agent or assistant will help you to complete the transaction.
The last step is to verify that you have had a successful Bitcoin exchange. Now that I have taken you through the process of how to sell my Bitcoin for cash, it is time for you to do it yourself. Always take precautions when using any of the options we have discussed because cryptocurrencies are prone to hacks and volatility. You cannot afford to make a mistake.