How to sell Bitcoin? If you are no longer into online betting bitcoin, and you want to sell your balance Bitcoin, here we guide you on how to sell them step-by-step?
Step 1: Set up an exchange account:
The simplest and “automated” way to convert your Bitcoins into cash is through an exchange platform. These sites act as intermediaries, selling the famous cryptocurrency for you. As this is one of the most popular and well-established platforms we recommend Coinbase. If you prefer to choose another, you have many alternatives.
Step 2: Transfer your Bitcoins to an exchange wallet:
To carry out the transactions in Coinbase, you must send your Bitcoins to the exchange platform. Use the transfer function in your wallet to send the cryptocurrencies and wait for the confirmation when the process completes. This can take a couple of hours or if it is a time of high demand, a couple of days.
Step 3: How to sell Bitcoin? Place a sales order:
With your exchange account set up, your linked bank account and your Bitcoins deposited on the exchange platform, you are in a position to carry out a sale. To get it done, log in to Coinbase or Coinbase Pro and go to the exchange section.
Make sure you have selected to sell Bitcoin, rather than buy, and enter the amount you want to trade. From there, you can place a “sell order” to carry out the transaction at the current market rate, or alternatively, a “limit order”. So that it is only sold when the price is at an amount that leaves you satisfied.
Thereafter, the transaction will take place. If you are selling at a reasonable price, such as the current market rate, the transaction should proceed relatively quickly. When it is done, the Bitcoin will transfer from your wallet, while your account will receive the equivalent of the chosen local currency.
Step 4: Transfer the funds to your bank account:
Once you finish the transaction, it is time to withdraw your money from the exchange platform. Select Withdraw from the menu and in the To field choose bank transfer.
Then enter the amount you want to send to your bank account. When you are ready, verify that you have entered the correct information and that your bank account is linked to the exchange platform. Then select Withdraw to complete the transaction.