Monday, August 15, 2022

How To Sell Physical Bitcoin

What To Know Before Buying Bitcoin

Physical Bitcoin Coins! Never Selling These…

At the time of this writing, Bitcoin is experiencing record highs in price. But dont worry, you can still buy Bitcoin in fractional amounts even if you arent obscenely wealthy. Before you buy your slice of Bitcoin pie, however, there are a few things youll need to do first. These include:

  • Set up an account with a reputable cryptocurrency exchange.

  • Collect the documents needed to verify your identity for Know Your Customer exchanges.

  • Get a cryptocurrency wallet.

  • Set up your wallet.

  • Make sure you have a fast, reliable internet connection.

Youll also need to go into the experience with an understanding that cryptocurrenciesand Bitcoin in particularcan be volatile, drastically changing in value from one day to the next. With that in mind, never invest more than you can afford to lose when purchasing cryptocurrency.

The Parties Of A Bitcoin Transaction Are Easily Identified

When making a Bitcoin transaction, neither the sender nor the receiver needs to submit identification or other personal info. Nonetheless, there are many tools and techniques to identify the parties involved, including tracing the IP address of the sender or the time-stamps. Especially these days, coins are marked by many clues, meaning your coins are easily traced.

While the average user might not be able to piece these clues together, the ones who can are precisely the ones you dont want. Hackers and thieves are well-equipped to backtrace your transactions and figure out your real identity. In this case, not only are your funds at risk, but also your life and physical safety.

If you dont want to take these risks, you should learn how to sell Bitcoin anonymously and transact coins without anyone knowing.

If you still wonder how to use bitcoin anonymously, have a look at useful methods below.

How To Cash Out Bitcoin Using Localbitcoins

1. First, you will need to open an account at Local Bitcoins. You can do this by .

2. Choose a username and a strong password. You also need to enter and confirm your email address.

3. Once you are logged in, click on Sell Bitcoins at the top of the page.

4. Then you need to choose the country where your ideal buyers are located. I recommend using your own country , however, this is up to you. In this example, I have selected the UK. You also need to enter the amount of Bitcoin you wish to sell.

5. As you will see below, there are many different ways to cash out your Bitcoin.

6. In this example, I will show you how to cash out Bitcoin using PayPal. As you can see, the buyer has a 100% feedback rating, and has completed more than 1000 trades! This is a sign of a serious, legitimate buyer.

7. Confirm the amount of Bitcoin you want to sell and enter your PayPal email address. Then click on Send Trade Request.

8. Your buyer will then receive a notification to say that you would like to sell your Bitcoins to them. Once they accept, you will then send your Bitcoins to the LocalBitcoins escrow . So, the buyer will not receive your Bitcoins until they have paid you, and you confirm they have done so.

9. The buyer should contact you to let you know that the funds have been sent. Check that the funds have arrived in your PayPal, then click on Payment Received, and you’re finished.

Congratulations! You now know how to cash out Bitcoin using a P2P exchange.

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Getting Started: Before You Sell Bitcoin

To get started with bitcoin, youre going to need three things: an exchange, a wallet and the knowledge of how to buy the cryptocurrency. This last one is easy with our guide on how to buy bitcoin, but the other two are still important. The exchange allows you to buy bitcoin from sellers, and the wallet gives you somewhere to store it long term.

When choosing an exchange, you should look for one with many users, good customer support and low fees. Three particularly popular exchanges with newcomers are Coinbase, Robinhood and Binance. However, theres nothing really tying you to a specific exchange, so you can try new ones and quickly change at any time.

On the other hand, wallets can be much more complex. Cold wallets physical devices holding cryptocurrencies offline come with a steep up-front cost, but hot wallets pieces of software that hold your coins on a computer are often less secure. However, since hot wallets are fine for short-term storage and free to set up, its a good idea to start with them.

Sell Bitcoin Anonymously In Person

Fine BTC Bitcoin 24k Gold Plated Commemorative Round ...

Crypto exchanges are not the only way to buy and sell Bitcoin. You can find a buyer that lives near you and make a deal face-to-face.

The number of people that are willing to purchase will surprise you. Because it costs fees and time to trade on a crypto exchange, and because people also want to protect their privacy, they turn to in-person transactions.

The process is pretty easy. You can join a local community on Facebook or Telegram to seek buyers. After that, you two make an agreement on the price , the place, and the payment method. Then, you meet your partner at an agreed-upon location, send your Bitcoin to him and take your payment.

Its better when you actually know your partner, and have an established relationship with him/her. Selling crypto to friends and relatives is much safer, as you dont incur the danger of meeting strangers and giving them your money.

Of course, there is a high riesk when you make a deal with strangers. In this case, meeting a person without checking his credit and having ways to protect yourself may be harmful. There is no guarantee that you will not be scammed.

If you want to remove the in-person human element without relying on an exchange, a Bitcoin ATM is another option.

Recommended Reading: How To Invest In Bitcoin Gold

Sell Bitcoins Around The World

To view all the available sale venues in your location, obviously excluding the private sale method, consult the .

In person exchanges such as LocalBitcoins is available globally.

And while you are looking at LocalBitcoins, you should also check out LocalCryptos.com.

Its pretty much the same as Localbitcoins, but they also allow you to sell altcoins.

However, Bitcoin sellers are the most common, so make sure to check it and see if you get any better offers there.

Check out their sleek interface!

Larger exchanges, such as , span several countries or entire regions. Smaller, local exchanges exist in most nations with a significant Bitcoin user-base.

Now that weve got locations covered, lets focus on methods for selling Bitcoins if we want cash!

Chapter 3

How To Buy Sell And Manage Bitcoin

You don’t need to be a millionaire to invest in crypto, but you do need to be cautious and realistic about potential returns on investment. Ready to go for it? Here’s how to set up a crypto wallet and buy some Bitcoin.

Are you finally ready to take the plunge into the world of cryptocurrencies? It may seem complicated, but with a little research, beginners can be buying and selling Bitcoin in no time.

Bitcoin is the most ubiquitous digital currency on the market, so we’ll show you the ropes on buying, selling, and storing it. However, these tips can apply to other cryptocurrencies like Ethereum .

Read Also: Is Cryptocurrency Legal In Us

S Of Withdrawing Your Money

Once youve sold your bitcoin and have some fiat currency in your digital wallet, you might want to withdraw those funds. There are three main options for withdrawing funds from online wallets. However, be aware that the trading platform will have a different withdrawal fee depending on which you choose, so be sure to look at that before deciding on a method.

You might also have to prove your identity with an ID card, drivers license or passport before withdrawing funds. This is a step that most exchanges have to take to follow anti-money laundering laws. It shouldnt take long, but you wont be able to move your money without it.

Sell Bitcoins In Canada

How to redeem bitcoin from a physical coin by Casascius – English

Changelly is one of the most popular platforms for exchanging cryptocurrencies. To sell bitcoins in Canada, you will need to do it through them. Its straightforward and fast, so if this happens to be your first time selling bitcoin, you can use their service for safety purposes. You can also buy bitcoins with a credit or debit card on their website.

Coinmama is another excellent online platform to sell bitcoins in Canada for cash. They are known worldwide because of the variety of cryptocurrencies that you can buy with your credit or debit card, such as BTC, BCH , DASH, ETH , etc.

Read Also: How To Send Bitcoin To Cash App

Should I Sell Bitcoin In 2021

Bitcoin has seen a massive downturn recently and it is speculated that it could climb to greater heights or even lose more. The reason is connected to the concerns about the energy consumption of Bitcoin and the ban imposed on it by China.

Here are some factors to consider if you want to sell Bitcoin:

  • Ensure that you are not at the losing end, if you have purchased Bitcoin for a while now it is best to give it more time unless you are no longer comfortable holding it.
  • Since it is not advisable to leave all your money in Bitcoin, you can sell a percentage or all of it off to retrieve your funds.
  • If you are no longer bullish on Bitcoin and perceive another asset as more promising, you can sell your Bitcoins and proceed to the one you are optimistic about.
  • You should sell your Bitcoin if you have achieved your targets and in profits.
  • Bitcoin is a revolutionary venture, if you dont understand how it works yet, sell off your holdings and study the concept first.

Where Can I Safely Sell A Casascius Version 1 Physical Bitcoin For Cash

I have one of the Casascius coins that contains an error: the small lettering on the hologram reads “Casacius”, without the second ‘s’. I’m a inexperienced when it comes to all things bitcoin, as well as all things collectable.

I understand that one can sell these coins for a premium over their BTC value. Where can I put the coin up for sale relatively safely? I’m willing to sacrifice getting the highest possible price in order not to get scammed.

  • I would recommend seeing a professional coin collector for advice.. Its not exactly an everyday item you have there 🙂

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Use An Anonymous Crypto Wallet To Sell Bitcoin Anonymously

A private crypto wallet was born to provide anonymity and privacy for Bitcoin users. This kind of wallet helps you transact Bitcoin without anyone knowing.

Every private crypto wallet has its own techniques to obscure your transactions, some are advanced and others not. Without a doubt, the Incognito Wallet is one of the best private crypto wallet apps on the market.

The Incognito Wallet: The ultimate way to send, sell, and buy crypto anonymously

Based on the idea of a sidechain for all blockchains, the Incognito Wallet is the easiest way to buy and sell Bitcoin anonymously.

Using smart contracts and trustless custodians, the wallet turns your coins into privacy versions of your coins which you can trade and transact anonymously. For instance, your Bitcoin can be switched to privacy Bitcoin at the rate of 1:1. Then you can easily send, receive, hold, and trade Bitcoin anonymously, without anyone knowing your balance or having any clues to your identity.

Want to turn your coins back? Just one tap, and BTC will be released from the smart contract and returned to you effortlessly. No intermediaries, no one to trust. Your privacy is in your hands.

One more advantage is that the wallet is completely free. You dont need to pay for any of its awesome features.

iOS and Android to explore more!

Why Are Titan Physical Bitcoins The Best

BITCOIN Physical Bitcoin in protective acrylic case FAST ...

Titan Physical Bitcoins are sculpted and designed by some of the same professional coin artisans who have worked to create the official products of the U.S. Mint. Every coin is shipped sealed in an air-tight case. The 1 ounce Gold and Silver coins are collector grade .999 pure, and the Gold is 24k, the highest quality. Unlike other physical bitcoins, Titan coins allow you to easily check their digital bitcoin value without peeling off the holographic decal, therefor giving you peace of mind knowing that the coin is 100% real and unredeemed. Learn more about Titan Physical Bitcoins or Contact Us.

All Titan Physical Bitcoins include FREE SHIPPING anywhere in the USA

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Sell Bitcoins For Cash

Services like LocalBitcoins allow you to arrange in-person trades . A secure location, such as a bank or police station lobby, is recommended.

If you intend to do many such cash trades, you might want to invest in an ultra-violet counterfeit bill detector or a counterfeit detection pen.

Also, if your buyer indicates any intention of using purchased bitcoins for illegal activities, cancel the trade immediately.

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.

Read Also: How To Accept Crypto Payments

How To Sell Bitcoin In 2021 Step By Step

Just as we mentioned before, selling your Bitcoins might appear a complex process but it is quite easy. Of course, the ease of liquidating any digital asset depends on the flexibility of the broker used as well. The fundamental process is to own a crypto asset you wish to sell. In this case, we are focused on Bitcoin. Do ensure that you have specified an acceptable withdrawal channel, then go ahead to withdraw your crypto.

You are open to using any of the brokers listed above to sell any amount of Bitcoin, so far you own some Bitcoin. However, for this tutorial, wed be focusing on one of the most prominent crypto brokers eToro.

For quite a while, weve emphasized this broker and recommended it to investors as one of the most efficient out there. The reason for this advocacy is not far-fetched, eToro is no doubt one of the most suitable brokers that offers a wide range of integrations that simplifies crypto trading. With a befitting user interface and concise attention to speed and ease, there are little or no chances of plunging into errors due to complexities.

Below are the five steps to sell your Bitcoin on eToro. If you carefully follow these steps you would easily get to sell your Bitcoins in exchange for fiat at any time.

Selling Bitcoin Through An Exchange

Physical Bitcoin is Worth More than Digital Bitcoin!

Going through an exchange is the quickest and easiest way to sell. This is because the cryptocurrency exchange does all the hard work of setting a good price and finding a random person looking to buy bitcoin for this price. For this example, well use Coinbase, but most crypto exchanges have a similar method.

  • In the exchanges home screen, there will be an option to buy/sell bitcoin. Click this to open the buy and sell screen.

  • Go Into the Sell Tab

    By default, youll be in the buy tab, so select the sell tab along the top.

  • Set the Sale Options

    In the sell tab, youll need to choose how much bitcoin you want to sell, which cryptocurrency you want to sell and what your preferred currency to receive it in is.

  • Complete the Sale

    Click preview sell to preview the sale and then sell now to complete the sale.

  • Read Also: What’s The Future Of Cryptocurrency

    Guide To Automated Trading

    If you are an active crypto trader, you would agree that trading often requires dedication to time. As is the culture of most professional traders, there is an entry point to trade and an exit point. If you are not focused on the timing you might miss entering a trade at the right time which would consequently lead to a late exit or a smaller profit. Timing and expertise are the two most important qualities a trader should employ to make the best of the market.

    However, not everyone has the time or the expertise to focus on trade. Most traders might have a job or would prefer to focus on another venture or attend a function. In such a situation, the trader cannot trade the crypto market and might miss out on making profits. To counter this, automated trading was developed and is available to almost everyone.

    With automated trading bots, you can maximize the crypto market even when you are absent. These trading bots use algorithms to purchase and sell cryptocurrency at the right time. A user can set them to execute trading commands based on a personal trading strategy, technical analysis, or the amount of money available in your portfolio. Trading bots are beneficial because they are structured to instantly respond to market movements much faster than a human would.

    Bot programs can involve risk those interested should only deposit a small amount at first to test them out and avoid bots weve blacklisted on our trading robot page. These are some bots weve reviewed:

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