Having bitcoin investment is surely a good shot for the future, but it comes with its own set of uncertainties. That sort of investment needs detailed knowledge, dedicated hard work, and you can do everything right, and still lose billions, if the market decides to go for a toss! Such is the fate of investments subject to market returns and returns! The best possible way to earn profits then is liquefying your bitcoin assets to something more monetary. These are short-term rewards, but you don’t lose them to market risks, and that’s what makes them desirable. But, how must you sell bitcoins online? For an amateur or even an expert in the field, this question can be confusing. This article helps you to find the best ways to sell bitcoins online:
1. Setup an exchange account
There are numerous popular exchange websites that allow you to sell bitcoin. The most popular one is Coinbase, as it is available across 103 countries. You can connect Coinbase with your PayPal account. And, once it helps you find sellers for your bitcoin, you can transfer the funds to your PayPal account. In a little more detail, let us take you through the seemingly complex but very easy steps! Sign up on the platform, complete your account verification with personal details, and go to their settings option. From the drop-down menu, go to Linked Accounts, where you’ll find the option to Link a New Account. This is where you choose PayPal, and log in to your PayPal account with the details! The reason this is on our first recommendation on how to sell bitcoins online is that this is the fastest and the most convenient way to do it.
An easy solution to sell or trade bitcoins is provided by Bitcoin Trading App which can help you increase those bitcoins value a lot before taking it out in cash.
2. Sell bitcoins with your credit card
Yes! You heard us right. Some exchanges allow you to withdraw funds straight into your credit card. Though it is preferred worldwide because it is way faster than a wire transfer, one major downside is it is quite expensive! London based exchange platforms like Cex.io allows you to swiftly withdraw your bitcoin funds to your MasterCard or visa. The amount that you can withdraw depends on your account verification levels, and accounts with enhanced verification levels don’t have a limit on withdrawal amounts. The fee charged is between 1.2 percent and 3 percent.
3. Sell bitcoin in your bitcoin pool
Numerous bitcoin pools exist where people buy and sell bitcoins online. Usually, to be a part of a bitcoin pool, some level of account verification has to be done to prove one’s authenticity. When you find someone you can sell your bitcoins to, you can ask them to pay you directly by a wire transfer into your bank. That way, you’re getting fiat money in exchange for bitcoin. Most bitcoin exchange platforms also allow you to sell bitcoins via wire transfer. From coin base to coinmama to local coins, most platforms support transfers into your bank account.
4. Paxful
Though Paxful has been around since 2015, it has grown hugely popular for it allows bitcoin sellers and buyers to meet local users in their vicinity. With Paxful, you locate the interested buyer in your area, when you’re interested to sell bitcoin online, and you can also ask the person to pay you in cash. The most recommended expert advice while using Paxful is to enable Paxful escrow service, where you can be guaranteed payment from the other person, in case it doesn’t work out. If you want to opt for receiving cash for the transactions, we advise you to meet the person in protected area like courthouses, police rooms, where you’ll get a lot of security and the chances of being scammed by a stranger on the internet would be minimal. Paxful also transfers your money to your bank account, PayPal account, or your credit card. When you’re using Paxful, you’re just dealing with bitcoin users in your vicinity and you use a lot of options for facilitating payments.
5. LocalBitcoins
It allows you to trade bitcoins between person to person, near you or across the globe. There are a lot of other options for selling bitcoins online, through Amazon gift cards and all, most of which are available on LocalBitcoins. This P2P bitcoin trading platform is a pioneer that came into existence in 2012 and has been active across 100 countries. So, it facilitates over-the-counter (OTC) trading by trading bitcoins in exchange for traditional fiat currencies, through online trades. To maximize your safety, you’d protected by an escrow service. They support around 60+ payment methods once you’ve completed your ID verification and set up your account. It allows you to set up to 5 advertisements, where you want to give out the deals and details of the bitcoins you’re selling.
