Friday, October 7, 2022

How Do You Sell Bitcoin

Become A Bitcoin Consultant

How to buy and sell Bitcoin – Bitcoin 101

People that get involved with Bitcoin find themselves learning a lot about cryptocurrency in a short period. For some people, the information overload is too much to handle, and they cant grasp the topic. Others find the blockchain and hot and cold wallets fascinating, soaking up all the technicalities around the industry.

If you start learning about Bitcoin, 6-months later, youll find yourself an expert about everything to do with the topic of cryptocurrency. If you put in the time to study how the markets work, and how to trade, sell, and buy cryptocurrency, thats valuable knowledge.

Some people will pay you to learn what you know. You could put together information courses on how to trade, buy, and sell, crypto, and then promote it through social media. Selling a virtual product means you keep no physical inventory, reducing your overhead costs of doing business.

Bitcoin consultants are in high demand, even in a falling market. If you build your reputation as an expert in crypto, eventually, youll start to obtain a client base. When the next Bitcoin bull-run comes around, youll find yourself in the perfect position to benefit from the next bubble.

Can I Play The Bitcoin Market Without Buying Bitcoin

You can do the bitcoin thing without owning it outright. The eToro “social trading” network doesn’t sell bitcoin, but lets you follow traders and wager — or in the parlance of the app, “copy” — their performance and profit from the price swings. And it’s only a matter of time before the big institutional investors figure out a way to offer bitcoin to the masses through ETFs and index funds.

Buying Bitcoin From The Bitcoincom Website

You can buy bitcoin from the Bitcoin.com website using your credit/debit card or other payment method . When you buy bitcoin from our website, you’ll need to decide where to receive it. This means you’ll need to input a Bitcoin ‘address’ when prompted.

For example, a Bitcoin address looks something like this:

3J57t1XpEZ73CZmQvfksriyiWrnqLhGTLy

  • Visit our Buy Bitcoin page.
  • Select Bitcoin . Note: you can also purchase a range of other digital assets.
  • Choose whether you want to pay in USD or another local currency, and enter the currency amount .
  • Enter your wallet address.Here’s where you’ll decide where the bitcoin you’re buying goes. For example, you can send bitcoin straight to your Bitcoin.com Wallet. To do so, you just need to know your Bitcoin address. To get the right address:

  • Open the app
  • Tap the receive icon
  • Select Bitcoin and choose the Bitcoin wallet you want to receive it to
  • Tap the copy button to save the address to your clipboard. You’ll need to paste that address into the Bitcoin.com Buy website. If you’re accessing the website from your desktop or laptop, you can, for example, email the address to yourself then paste it in the wallet address field on our site.
  • Complete the purchase process by creating an account and providing your payment details.
  • You May Like: How To Make Money With Crypto Tokens

    Threats To The Future Of Bitcoin

    Investing in Bitcoin is not without risk. As with any asset class, you need to understand the risks involved with the digital currency before you hand over your dollars for digital tokens. There are numerous risks to the Bitcoin economy. However, in this article, well look at three that we believe could damage the future of the cryptocurrency and your profits.

    The first issue we have with Bitcoin comes with the technology used to run the blockchain. Last month, Google announced it successfully manufactured the worlds first quantum computer. The 53-qubit machine is said to be the first in an evolution that will see processing power double with each new generation.

    If thats the case, then we only need three or four evolutions of the technology before it can crack 256-bit encryption. If this were true, then quantum computers would allow hackers to infiltrate and take down the blockchain.

    With computing power exceeding the blockchain capabilities, it wont be long before Bitcoin becomes obsolete. Its unclear at this stage if another cryptocurrency using quantum computing would rise to take its place.

    Tether is a Stablecoin that traders use to escape the market during volatile periods. You sell your Bitcoin for tether at a 1:1 value and then wait for the price action in the market to settle. You then exchange tether for Bitcoin and keep trading.

    Receive The Funds On Your Bank Account

    Buy Bitcoin with Western Union

    To ensure you receive your funds as soon as possible we have multiple payout rounds a day. In most cases the funds will be in your bank account within two business days.

    Feel like this is the moment to sell? Want to place your sell order as fast as possible? Get started with selling your coins via the button below:

    Don’t Miss: What Is Spot Trading In Crypto

    Why Transfer Bitcoin To Your Bank Account

    The ultimate idea is that bitcoin will replace traditional currencies. People are currently investing in bitcoin because they view it as a commodity that will grow in value over time. If you have bitcoin, you may want to hold on to it for that reason. But, since demand has increased recently, you may be able to make a profit if you sell your bitcoin now and transfer the equal value to your bank account.

    In theory, you will one day be able to use bitcoin for any type of sale. For now, there are still few businesses or individuals that accept payment in bitcoin. That is one reason you may want to convert your bitcoin to cash to use the value of your bitcoin to buy actual things.

    Selling Bitcoin Through Peer

    They enable buyers to use a range of payment methods to purchase cryptocurrency from various sellers without having a central intermediary involved.

    For direct trading, BTC holders need to register as sellers with the site, but beyond this the site typically provides a minimal service and simply serves a way for users to find and directly interact with one another.

    Perhaps the best-known veteran P2P site is LocalBitcoins, although the platform has recently tightened their identity verification procedures, meaning it is no longer the place to go if youre keen to preserve your anonymity as a Bitcoin seller.

    You May Like: How To Receive Crypto On Coinbase

    How To Buy Bitcoin With Paypal

    PayPal has enabled its US-based customers to buy Bitcoin since October 2020. But before you can purchase Bitcoin, you’ll have to agree to their terms and conditions and then set up a PayPal Balance account first.

  • From the home screen, click the button that looks like a bar graph. Jasmine Suarez/Insider
  • PayPal also offers the option to buy Ethereum, Litecoin, and Bitcoin Cash. Jasmine Suarez/Insider
  • Scroll down and select how much you’d like to purchase. Then click Buy. PayPal provides preset amounts of Bitcoin you can purchase. Jasmine Suarez/Insider
  • Quick tip: When you press the Buy button for the first time, you’ll have to prove your identity . This involves providing your name, physical address, date of birth, and taxpayer identification number, and may also include submitting a copy of your ID and showing proof of address.

    How To Sell Bitcoin

    How to Sell Bitcoin with Cash App

    If youre investing in cryptocurrencies, you need to know how to buy Bitcoin. You also need to know how to sell it. Unless youre a true evangelist waiting for it to displace fiat currencies, then knowing when to take your profits is important and being able to do so, even more so.

    Digital Trends isnt about giving out investment advice thats not our forte but we can break down the technical fundamentals for you, like how to sell Bitcoin.

    There are different ways to go about it, depending on whether you want to sell on an exchange or directly, but here are some steps to take to sell your Bitcoin fast and easily.

    Don’t Miss: How Do You Convert Bitcoin To Cash

    Automated Trading In Cryptocurrency

    Trading cryptocurrencies requires a lot of information, expertise, and time. Not all intending or active investors meet these criteria. To continue trading, they have to make up for the criteria they didnt meet. Automated trading in cryptocurrency is a great way to scale a number of these requirements.

    Automated Trading is facilitated by trading robots, or bots. These are programs structured to aid you trade cryptocurrencies automatically. Trading bots work with preset information and execute actions based on them. Trading bots perform market analysis, interpret the data, weigh the risks, and execute buy or sell orders at the appropriate times. For instance, your trading bot can be programmed to purchase more Bitcoin at a certain time. To do this, the trading bot without external assistance would examine the trending markets and determine whether or not it is safe to buy.

    Some popular bots to buy and sell cryptocurrency include:

    Option Iv: Exit Based On Harmonic Patterns

    Harmonic price patterns are a better way of identifying trend reversals by applying Fibonacci ratios to geometric price patterns. Most importantly, harmonic patterns enable a trader to forecast future price movements.

    Harmonic pattern trading involves three kinds of ratios:

  • Primary Ratios
    • The Swan pattern the image below shows the bullish swan pattern recently formed by Bitcoin.

    Read Also: Where Does Crypto Money Go

    Sell Bitcoins For Usd And Keep Your Data Secure

    The issue of data security is especially painful for the users who have concerns about the security of trusting their data to an online service. With CEX.IO, you can be certain that your data on the operations intended to buy or sell Bitcoin for USD are protected by the reliable mechanisms. And if you are still willing to ask why you should trust us, there are several more reasons that make us a trustworthy service.

    First of all, our company is officially registered in the UK. At the same time, we have received a Money Services Business status in FinCEN , which also proves that CEX.IO can be trusted.

    Furthermore, we have developed a strong anti-DDoS attack system eliminating the possibility of hacker attacks. And the fact that CEX.IO has never been hacked also serves as a proof of our special attention to security solutions.

    Considering the two-factor authentication and strong data encryption, our users may always be sure that their personal and payment data will not be leaked to the third parties. And all the transactions carried out on the platform will be made only by the account owners.

    For those who might consider online financial activities too unreliable, the mentioned security proofs may serve as an assurance of the reliability of CEX.IO online exchange. Therefore, if one looks for the opportunities to sell BTC for cash, online purchase may be an adequate alternative.

    Paypal & Other Payment Services

    How to Buy and Sell Bitcoin in Nigeria

    Sometimes, you might prefer to use a third-party payment service perhaps to keep the funds separate from your bank, keep your bank details off of the exchange or just to make use of a low flat fee. However, the services each exchange supports will vary, and youll still have to link your PayPal account, or an equivalent, before you begin.

    Much like withdrawing to a bank account, first go into the withdraw section. However, this time, you need to select the payment service such as PayPal or Faster Payments instead of a bank account. Then just enter how much you want to take out, check that the additional charges arent too steep and confirm you want to withdraw.

    Also Check: What Does It Mean To Mine For Bitcoins

    Creating An Account On Btc Direct

    It wont come as a surprise, but if you would like to sell your bitcoin you will need an account first. Did you already register on our website? Than you can skip this step and continue reading step two. If you havent got an account yet, click Register in the top right corner. Creating a BTC Direct account is fast, easy and free, you will be able to sell your bitcoin the same day.

    In order to create an account you will need to identify yourself. We focus on providing a platform where you can buy and sell cryptocurrencies with the greatest of ease. However, offering services without identifying our users would open the door to illicit activity as it could for instance allow criminals to buy bitcoins with a hacked bank account. We expect that laws and regulations will come into force in the not too distant future. To ensure that our customers wont experience any inconvenience to these potential regulations, we already have a clear KYC policy in place.

    The documents we receive from you will be saved to an offline, encrypted hard drive. The provided documents are only available to selected BTC Direct employees, and will never be shared with third parties.

    Now youve created an account, youll able to sell your bitcoins.

    How To Sell Bitcoins Summary

    If you want to convert your Bitcoins back to normal money youll need to do the following:

  • Find an exchange
  • Send your Bitcoins to that exchange
  • Trade your Bitcoins for fiat
  • Withdraw the fiat to your account
  • If Coinmama doesnt work out for you here are some additional exchanges recommended for selling Bitcoin:

    Coinmama

    Read Also: How To Change Bitcoin Wallet Address

    How Do I Keep My Bitcoin Safe

    Hardware wallets are the most secure way to store your bitcoin.

    If you’re trading lower amounts, it’s probably OK to use the wallet provided by your exchange or another software wallet . If you’re going big, you almost certainly want a hardware wallet, of which there are a number of complicated, encryption-related options.

    We’ll take a look at the pros and cons of each of these options in a future article. In the meantime, bitcoin.org provides some good introductory information.

    Person To Person Exchanges

    How to Sell Bitcoins Fee Free on Coinbase

    Keep in mind, the best way to reduce the fees and charges while selling Bitcoin will be to sell it to another user of Bitcoin that you know and trust. You can send the Bitcoin to counter partys digital wallet and receive payment in cash through a spot transaction.

    The temptation for you to sell Bitcoin, despite the quantity you have in your wallet, will be too much to bear, when the price of Bitcoin rises sharply. Alternatively, there will be people who will sell their holdings at a loss when the crypto currency undergoes a price correction.

    With all of that in mind, you need to remain firm while trading Bitcoin and be prepared to see its value rise and fall often.

    If you do want to sell Bitcoin, then ensure that you are going to get the best exchange rate possible. That can be done by trading in a Bitcoin currency exchange which charges nominal fees. Ironically, the fees in most exchanges are high.

    You May Like: How To Backup Crypto Wallet

    Where Can I Buy Bitcoin

    There are many other points of entry into the bitcoin universe, however. You can play day trader and use a regulated exchange like GDAX . On the opposite end of the spectrum, you can find someone local willing to trade cash for bitcoins, if you’re into meeting up with strangers in parking lots. And if you operate a business, you can accept bitcoin as payment for goods or services.

    GDAX: where young urban professionals go to trade digital assets.

    Or you can go the high finance route. On Monday CME Group, the largest derivatives exchange in the world, made it possible to trade in bitcoin futures, opening up another avenue and marking another milestone in the cryptocurrency’s evolution. And Bloomberg reports that Goldman Sachs is planning to launch a bitcoin trading desk in 2018.

    How To Move Bitcoin To A Bank Account

    Moving bitcoin to a bank account is the same kind of process as converting currencies at the airport when you arrive in a new county. You are essentially selling your bitcoin and buying the equal value in dollars .

    The exchange rate for this currency exchange is not determined by the economic actions of a government or a countrys central bank. Instead, the bitcoin exchange rate is determined by demand. How many people want to buy bitcoin right now and what they are willing to offer will determine how much money you will get for your bitcoin.

    Moving bitcoin to a bank account is like exchanging currency. But because bitcoin is devoid of government control, the exchange process occurs privately. It is not mediated by world economic structures.

    Don’t Miss: What Are The Top 5 Cryptocurrencies

    Things To Check Before Choosing Where To Buy Bitcoin

    Buying Bitcoin for the first time could be exciting. But, if you choose the wrong crypto exchange, things could go very wrong. So, it would help if you kept some factors in mind before choosing a place to buy Bitcoin. Here is what we suggest you should check before you decide where to buy Bitcoin.

    • Availability in Your Country

    Finding this information will help you if you want to avoid scams and fraud. If the physical office is in your country, you can visit them and take your money back. Moreover, it is easy to contact them for support or give the office a visit, if necessary, to clear your issues. That also includes the acceptance of the cryptocurrency with the bank account you have. If your countryĆ¢s banks are not accepting cryptocurrencies, then you cannot withdraw the amount.

    Cryptocurrencies are entirely digital, so you cannot keep them in your house. You have to get a digital wallet to carry these currencies. If the exchange you choose has a bad reputation, it might take away your digital assets, leaving your wallet empty. And in most cases, you cannot do anything about these companies since they will not respond to your calls.

    Q4 How Can I Buy Bitcoin

    How Do You Buy Bitcoin?

    To purchase Bitcoin, you first need to learn about the crypto exchange, which is an online dealer in Bitcoin. You deposit some money on their portals, and they fill your digital wallet with Bitcoins of the same value.

    If you still want to know where to buy Bitcoin, you can check out the article above, and it will give you an idea. Moreover, we have also detailed the top Bitcoin exchanges. So, you can visit them, check their suitability for you, and make a purchase through their portals.

    Also Check: Where Can I Buy Dogecoin Cryptocurrency

    Popular news
    Related news