How To Sell Bitcoins Without Risk
Whether you are the owner of Bitcoins and would like to sell some to make a profit or you would like to buy them and sell later, the most convenient way to realize your intentions is to use an online Bitcoin exchange with decent reputation. You can sell Bitcoin with ZERO risk via CEX.IO service. The platform always guarantees the security of your funds and personal information.
At CEX.IO, we understand that working with the financial data is very serious and a single mistake can mean much to the customers. As a result, for you to be able to sell Bitcoins without concerns, we have obtained the internationally recognized security certificates, Level 2 PCI DSS among them. Compliance to these standards means that all the card data of users are thoroughly protected, which eliminates the risk of illegal activities. With CEX.IO, you will easily learn how to sell Bitcoins safely and then withdraw your money to your card or bank account without losing a single cent.
How Do I Cash Out My Funds
In order to cash out your funds, you first need to sell your cryptocurrency for cash. Then you can either transfer your funds to your bank or buy more crypto. Note that there is no limit on the amount of crypto you can sell for cash.
1. Sell cryptocurrency for cash
Once the action is complete, your cash will be available in your local currency wallet . Note that you can immediately cash out your funds by tapping Withdraw funds in the Coinbase mobile app or Cash out funds from a web browser.
2. Cash out your funds
From a web browser:
From a web browser select your cash balance under Assets.
On the Cash out tab, enter the amount you want to cash out and then click Continue.
Choose your cash out destination and then click Continue.
Click Cash out now to complete your transfer.
From the Coinbase mobile app:
Tap > Cash out
Enter the amount you want to cash out and choose your transfer destination, then tap Preview cash out.
Tap Cash out now to complete this action.
When cashing out a sell from your cash balance to your bank account, a short holding period will be placed before you can cash out the funds from the sell. Despite the hold period, you are still able to sell an unlimited amount of your crypto at the market price you desire.
How To Buy Bitcoin With Paypal
You can also buy Bitcoin through payment processor PayPal Holdings, Inc. . There are two ways to purchase bitcoin using PayPal. The first and most convenient method is to purchase cryptocurrencies using your PayPal account that is connected to a payment mechanism, such as a debit card or bank account. The second option is to use the balance of your PayPal account to purchase cryptocurrencies from a third-party provider. This option is not as convenient as the first because very few third-party sites allow users to purchase Bitcoin using the PayPal button.
Four cryptocurrenciesâBitcoin, Ethereum, Litecoin, and Bitcoin Cashâcan be purchased directly through PayPal. With the exception of those who live in Hawaii, residents of all states can either use their existing PayPal accounts or set up new ones. You can also use your cryptocurrencies to purchase products and services through the “Checkout with Crypto” feature.
To set up a crypto account with PayPal, the following information is required: name, physical address, date of birth, and tax identification number.
It is not possible to use a credit card to purchase Bitcoin using PayPal. During the buying process, PayPal will display a price for the cryptocurrency. But that price is subject to rapid change due to the volatility of cryptocurrency markets. It is a good idea to make sure that you have more than the price you budgeted for the purchase in your bank account.
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How To Sell Bitcoins Summary
If you want to convert your Bitcoins back to normal money youll need to do the following:
If Coinmama doesnt work out for you here are some additional exchanges recommended for selling Bitcoin:
Who Is Binanceus Best For
Binance.US is not available in Connecticut, Hawaii, Idaho, Louisiana, New York, Texas, or Vermont. For people outside of those states looking to invest in crypto, Binance.US offers both an easy buy/sell interface and more advanced trading views. It has low fees, and further fee discounts for using its native currency, Binance Coin, and does offer some educational content through its on-site blog.
Despite its low fees, we do not recommend Binance.US, especially for beginners. Binance.US doesnt offer any information about how your investment will be secured, stored, or protected by the firm, unlike other cryptocurrency exchanges. Plus, there are many other active exchanges that offer simple buy/sell interfaces for long-term investors. We believe that transparency about the safety of your investment is worth paying a bit more in fees.
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Top 5 Services To Convert Bitcoin To Usd Bank Accounts
The following services are how to withdraw bitcoin to USD in your bank. They offer a variety of options and methods. Transferring bitcoin to a bank account may initially seem challenging. However, it usually only takes a few minutes.
Every platform has its own procedure of exchanging bitcoin for cash, but each can be easily understood and performed quickly. If you plan to cash out bitcoin, look through the offers of these popular platforms and choose the one most suitable for your needs.
How To Buy Bitcoin
Investing in Bitcoin can seem complicated, but it is much easier when you break it down into steps. Investing or trading Bitcoin only requires an account at a service or an exchange, although further safe storage practices are recommended.
There are several things that aspiring Bitcoin investors need: a cryptocurrency exchange account, personal identification documents if you are using a Know Your Customer platform, a secure connection to the internet, and a method of payment. It is also recommended that you have your own personal wallet outside of the exchange account. Valid methods of payment using this path include bank accounts, debit cards, and credit cards. It is also possible to get Bitcoin at specialized ATMs and via P2P exchanges. Be aware, however, that Bitcoin ATMs have increasingly required government-issued IDs as of early 2020.
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How To Buy Bitcoin With A Credit Card
The process for purchasing Bitcoin with credit cards is similar to the one for buying the cryptocurrency with debit cards or through automated clearing house transfers. You will need to enter your credit card details with the exchange or online trading firm and authorize the transaction. In general, however, it is not a good idea to purchase bitcoin with credit cards. There are a couple of reasons for this.
First, not all exchanges allow bitcoin purchases using credit cards due to associated processing fees and the risk of fraud. Their decision to do so may work out in the best interests of customers. This is because credit card processing can tack additional charges onto such transactions. Thus, in addition to paying transaction fees, you will end up with processing fees that the exchange may pass onto you.
The second reason is that credit card purchases can be expensive. Credit card issuers treat bitcoin purchases as cash advances and charge hefty fees and interest rates on such advances. For example, American Express and Chase both count purchases of cryptocurrencies as cash advance transactions. Thus, if you purchase $100 worth of Bitcoin using an American Express card, you will pay $10 plus an annual percentage fee of 25%. What’s more, the credit card company also limits you to $1,000 worth of bitcoin purchases per month.
Bitcoin Cash Price Prediction: Bch Price Could Spike Below $350
The Bitcoin Cash price is currently hovering at $370 the daily chart shows that the coin is trading below the upper boundary of the channel. At the time of writing, the market price nosedives below the 9-day ad 21-day moving averages, issuing a sell signal as the technical indicator Relative Strength Index slumps below the 40-level.
Moreover, a minimum swing may likely bring the market to $350 support level. Therefore, moving below this level could take the bears to $300, $250, and $200 levels. On the other hand, a high swing may likely take the bulls to cross above the upper boundary of the channel. Above this, the coin can possibly trigger a bullish rally which may take the price to $450, $500, and $550 resistance levels.
When compares with Bitcoin, the daily chart reveals that bears continue to push the price towards the south. The daily chart reveals that the trend may continue to follow the downtrend as buyers were unable to push the price above 9-day and 21-day moving averages.
However, as the technical indicator Relative Strength Index moves to cross below 40-level, it is likely to move toward the oversold region and a bearish continuation could lower the price to the support level of 830 SAT and below, but if it crosses above the 9-day and 21-day moving averages, the market price may likely begin an upward trend which could push the coin towards the resistance level of 950 SAT and above.
Looking to buy or trade Bitcoin Cash now? Invest at eToro!
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Why Do I Need To Verify My Identity To Sell Bitcoin
When you sell bitcoin through an exchange service, you’re interacting with a regulated business. Such businesses must comply with Know Your Customer and Anti-Money Laundering regulations. These regulations require the collection and storage of customer information, including identity documents and sometimes proof of address.
How To Cash Out Bitcoin Using A Broker Exchange
So, now that you know the difference between the two favored methods, I will now show you how to withdraw Bitcoins to cash using broker exchanges!
Coinbase is the most popular broker exchange for buying and selling Bitcoin. They process more Bitcoin transactions than any other broker and have a massive customer base of 13 million.
- Withdrawal Methods: Coinbase lets you sell Bitcoins for cash, which you can then withdraw into your bank account. You can only cash out your Bitcoin into a bank account that you have already used to buy cryptocurrency on Coinbase. So, if you havent done this yet, I recommend purchasing a small amount of cryptocurrency first.
- Fees: The fees depend on the country that your bank is located in. For example, if you want to sell Bitcoin for USD, a wire transfer is $25. If you are located in the EU and have SEPA, then this costs just $0.15!
- Cash-out times: Withdrawal times also depend on the country that your bank is located. US withdrawals normally take between 4-6 working days, while EU withdrawals take 1-3 working days.
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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.
Btc/usd Fluctuates Above $46 Support As Bitcoin Risks Further Selling
In the last 24 hours, buyers have pushed the crypto to the high of $48,650 as Bitcoin risks further selling. The crypto dropped sharply to the low of $45,695 as bulls bought the dips. Bitcoins upward move has been restricted below the $50,000 resistance zone. Buyers and sellers are struggling for price possession in a tight range. BTC/USD is trading at $47,271 at press time.Resistance Levels: $70,000, $75,000, $80,000 Support Levels: $50,000, $45,000, $40,000
Since December 29, BTC price has been confined in a narrow range between $46,000 and $48,000. For the past four days, the bulls have been struggling to sustain the BTC price above the $48,000 price level. In other words, the bulls are finding it difficult to break above the 21-day line moving average. A break above the 21-day line moving average will accelerate the upward movement of the cryptocurrency. Bitcoins upward move is likely to face resistance at $50,000 and $52,000 price levels. Alternatively, a strong rebound above the current support will catapult Bitcoin to rally above the resistance levels. On the upside, if the bullish scenario is invalidated, Bitcoin will risk a further downward move.
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Considerations When Cashing Out Bitcoin
Before you convert all your bitcoin to cash, consider the following pitfalls:
- Taxes If you are making a profit on selling your bitcoin, you will have to pay taxes on your profit income. Keep this in mind while planning your tax year. Any reputable third-party broker exchanges will report their transactions for tax purposes.
- Fees Most bitcoin-to-bank-account methods will entail exchange fees.
- Speed Third-party broker exchanges may take a couple of days to transfer the money into your bank account.
How To Sell Bitcoin: 5 Ways To Cash Out’ Your Btc Holdings
How do you sell Bitcoin? is one of the first questions that arise when people become interested in buying cryptocurrencies, since getting your money out is just as important as investing.
Selling Bitcoin can be similar to buying Bitcoin, except in a somewhat reversed process. To sell BTC, you must first have BTC on hand in your wallet.
Buying Bitcoin is possible via a number of routes. When you are ready to sell some or all of your Bitcoin, you can do so through a variety of avenues, including an online cryptocurrency exchange, direct peer-to-peer transactions online or on-site, and through a Bitcoin ATM.
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How To Choose The Best Way To Sell Bitcoin
The best way to sell Bitcoin is very subjective and will vary based on an investor’s circumstances. What works well for one person might not necessarily be a good fit for the next. Instead, it’s all about working out which option is the right choice for you. You can do this by asking yourself a few important questions:
- Do you want to sell Bitcoin for fiat or another cryptocurrency?
- How quickly do you want to sell your Bitcoin?
- Are you willing to accept a price well below the market rate, or do you want to negotiate the best price possible?
- If selling for fiat, how do you want to receive payment?
These questions should help you decide how you want to sell your Bitcoin, and you can then figure out which platform has all the features you need. When comparing different cryptocurrency exchanges, make sure you consider:
There are several other important factors, such as where an exchange is regulated and the payment methods accepted by peer-to-peer trading sites. For a full breakdown of the features to look out for check out our cryptocurrency exchange guide and discover tips on how to choose the right platform.
How To Sell Bitcoin Without Using An Exchange
The step-by-step guide above takes you through the process of selling Bitcoin on an exchange. However, this is just one of several options available when you want to cash out your Bitcoin, so let’s take a closer look at what other options you have.
Selling through a peer-to-peer platform
Why might you choose this option? If you want to set your own price and enjoy greater control over the sale process.
- Pros: Provides flexibility and control over the sale process, while offering a better price than an exchange and increased privacy.
- Cons: With competition from other sellers, it can take much longer to find a buyer.
Peer-to-peer trades, which are sometimes also referred to as direct trades, provide the option of selling your Bitcoin to another person. Online peer-to-peer marketplaces give a user more freedom and control over the specifics of the transaction. You can set your price, nominate how you want to receive payment, and then wait for the right buyer to come along.
The way the sale actually takes place will vary depending on the peer-to-peer platform you’re using. For example, while some platforms only accept online bank transfers, sites like LocalBitcoins accept everything from cash and credit cards to PayPal and Western Union transfers.
Selling via a Bitcoin ATM
Why might you choose this option? If you want a quick and easy way to turn your Bitcoin into cold, hard cash.
Selling in person
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Selling Bitcoin On Coinbase Pro
To sell BTC on Coinbase Pro, it’s almost the same process as buying except you click “Sell”.
In “Select Market” switch to “BTC-USD” .
There are a few ways to sell BTC. I usually do a “MARKET” sell. This means you will sell it at the price that it is currently being sold at. Before, I used to sell as a “Maker” but now the fees are the same unless you sell over 50k. You can find information on the fees here: .
Once you click “MARKET”, enter the amount of BTC you want to sell.
Finally, click “PLACE SELL ORDER”.
Here is a screenshot summary: