How to Sell Bitcoin (BTC)

Bitcoin is the world’s leading cryptocurrency, as it has been a while since its ground breaking introduction into the crypto market in 2009. It is seen that the token is on high demand across the globe, largely accredited to its unmatched services and security systems. Being such a worthy investment, holders of the coin are constantly trading it on for real world money. This is generally done during times of value peaks and fluctuations, when holders will be trying as much as possible to benefit from the value increases.

Crypto exchange platforms are seen as the typical facilitators of this trade, where they ate specially developed aid in automatic conversions and credit executions. They make use of live market rates, using them to make the appropriate conversion, from one currency to the next. They facilitate in crypto to crypto exchanges, as well as crypto to fiat exchanges. Needles to day, the latter is the most participated in act. An ideal crypto to fiat trade would be to an internationally recognised currency, preferably one of particularly high value. To such ends, we bring you this short and precise guide on how to sell Bitcoin.

Quick guide on selling BTC on Binance

Binance is one of the leading crypto exchange platforms in the world, recognised for its massive currency volume capacity. To date, very few exchange platforms can even stand to rival Binance, much less topple it superiority. That said, here are the basic steps to completing a BTC trade using this outstanding platform:

These steps are with regards to a user who is already in the procession of Bitcoin, not a user who is yet to acquire the tokens.

1. The first step would be to establish footing into the site, done by creating an account. Note that the process would involve fiat trade and financial carriers, so some identification and residential verification is very much likely to be required.
2. The next step would be to navigate to the Deposits tab, where the Bitcoin option is selected.
3. This is followed by the copying of a relevant BTC deposit address and providing it to initiate the transaction. This will credit the selected amount into the Binance account, siphoned from the external Bitcoin wallet.
4. Upon confirming the transfer, the user would then have to make their way to the ‘Sell Crypto’ page, found right there in the Binance interface.
5. Once there, the required amount is then entered. Note that Binance enforces a minimum selling limit equivalent.
6. This is followed by a confirmation of the order parameters, and selection of the ‘Sell’ option.
7. This initiates the transaction, after which the user can make their way to the ‘Withdraw’ tab, where they then choose the needed currency option. This credits the funds into the provided bank account.

How to sell Bitcoin

One can sell Bitcoins instantly by many means. Crypto exchanges are found in their abundance over the internet. These platforms are specifically designed to assist in multicurrency trade with users all over the world. That said, the following are among the most recognised crypto exchange platforms, on which users can trade in BTC:

Binance

As stated above, Binance is one of a kind, offering diversity and simplicity like no other. By periodic traffic rates, Binance is among the most utilised exchange platforms. Now, there is yet another way to sell Bitcoin in Binance, and this is the Order Book method:

1. Likewise, the user needs to open an account with Binance by registering, and going thorugh the KYC procedure.
2. The next step is to make a BTC deposit.
3. They then need to navigate to the ‘Markets’ tab.
4. They then click on ‘Flat Markets’, and pick out the suitable
5. From the options, select the ‘Market’ order type.
6. Entering the preferred amount and selecting ‘Sell BTC’ will initiate the trade, where the user can view the coins in the ‘Wallet’ window.

CEX.io

This platform allows users to trade as follows:

1. Establish an account by registering and completing the verification procedure
2. Make their way to the ‘Deposit’ tab, in which they then change the currency to BTC.
3. They then need to make a BTC deposit, after which they navigate to ‘Trade’ and choose your currency
4. They change the order type to ‘Market’, after which they enter the amount of crypto they would like to sell.
5. Clicking on ‘Place Order’ will run the trade

LocalBitcoins

LocalBitcoin is P2P exchange platform, on which users can make BTC sales by:

1. Registering to the platform
2. Depositing BTC from external wallets
3. Go to the ‘Quick Sell’ tab from the main page. Here, they need to provide details regarding the amount, the location and the mode of payment.
4. They then choose an offer from the provided advertisements. Clicking on ‘Sell’ will trigger the information tab, showing more details regarding the trade.
5. If in agreement, they accept the terms and enter the preferred amount, along with a note for the buyer.
6. Once the details are shared and the payment is verified, the trade is made and the funds are availed.

EXMO

This platform boasts a rather large volume of cryptocurrencies that users can sell by:

1. Registering
2. Making a BTC deposit
3. Navigating to ‘Quick Exchange’, in which they enter the amount to sell and click on ‘Exchange’
4. Confirming the transaction, after which the funds are credited into their bank accounts.

Coinmama

This platform does not come with a banking option, but allows BTC sales by:

1. Registering to create an account
2. Navigating to ‘Sell’, then entering the preferred amount
3. Confirming the sale and entering account details
4. Initiating the BTC transfer to the addresses provided.
5. The funds are then credited to the provided bank account

Coinbase

Based in the US, Coinbase allows users to sell BTC by:

1. Registering to Coinbase
2. Selecting ‘Payment Methods’ from the settings tab
3. Establishing a bank account link
4. Navigating to ‘Portfolio’ and clicking ‘Deposit’
5. Running a bank transfer, then going back to ‘Portfolio’ and selecting ‘Deposit’ under the Bitcoin option.
6. Initiating a fund transfer to the BTC address, then going to the ‘Buy/Sell Digital Currency Page’
7. Entering the required amount, and selecting the recipient currency.
8. Confirming the trade will transfer the funds.

BC Bitcoin

Again, this platform features no banking options, but it does allow BTC sales by:

• Registering and verifying the account
• Navigating to the ‘Sell’ page
• Selecting the coin to sell, BTC in this case
• Selecting the recipient
• Giving appropriate banking details
• Sending the BTC to the provided address, after which the money is availed

Selling BTC for cryptocurrency short step-by-step guide

This allows users to sell their BTC for other digital currencies. The feature is available in most platforms, with steps as follows:

1. Signing up
2. Making a BTC deposit to the provided address
3. Navigating to the trade page, in which the selection will be made on the other crypto to be exchanged with BTC
4. Changing the order type to ‘Market’ and entering the required amount
5. Confirming the trade and waiting as the funds are credited

Things to consider before selling Bitcoin

Upon conducting some analysis, we found the following to be crucial before making a BTC sale:

• Relative scenarios, where some are seen to opt for the sale to curb a certain monetary problem elsewhere. In such a case using the loan service may be wiser choice
• Aims of the investment, simply because the relative market values have a direct impact on them, where BTC is known to experience price fluctuations here and again. Simply put, one must be strategic about their BTC operations, being sure to make the most appropriate ones
• Effects due to market sentiments, where the current trends are a good gauge of the necessity of the sale

Privacy and Security Tips

Criminal activity is prevalent on the internet, where users go through many procedures to endure the security of their funds. Some of the recommended ones are:

• To always use password protection, followed by 2 factor authentication. This effectively curbs unauthorised access.
• To never accept aid from external parties that are not sanctioned by the operator
• Always store the larger portions of crypto and fiat funds in safer, external wallets, instead of exchange accounts. To do this, one must cash out Bitcoin or any other currency in circulation.
• Be careful not to click any suspicious links.

Conclusion

With this, all those who ever wondered how to sell Bitcoin are answered. This goes to show the level of convenience associated with BTC and exchange platforms all over, where selling Bitcoin is pretty much put at individual’s fingertips.