how to sell bitcoins for cash

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How to sell bitcoins for cash

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I recommend using your own country of course , 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. In this example, I will show you how to cash out Bitcoin using PayPal. This is a sign of a serious, legitimate buyer. Confirm the amount of Bitcoin you want to sell and enter your PayPal email address.

Then click on Send Trade Request. 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 I explained an escrow earlier, remember?

So, the buyer will not receive your Bitcoins until they have paid you, and you confirm they have done so. 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. Once you become more experienced with Local Bitcoins , you can practice selling using different payment methods. It is also a good idea to set up an advertisement. In this case, you will receive a notification from buyers when they want to buy from you.

LocalBitcoins is just one of the P2P exchanges that allow you to cash out your Bitcoin — there are many others. The important thing to remember is that the exchange has an escrow, and NEVER send your Bitcoin to a buyer before they have paid! Best Bitcoin mining hardware: Your top choices for choosing the best Bitcoin mining hardware for building the ultimate Bitcoin mining machine. Wondering what is SegWit and how does it work? Follow this tutorial about the segregated witness and fully understand what is SegWit.

If you have read this guide from start to finish, you should now know how to cash out Bitcoin! We have shown you two different methods — the broker exchange way Coinbase , and also the peer-to-peer way. They both have their advantages and disadvantages. Coinbase can be more convenient and safe for beginners , whilst LocalBitcoins allows you to remain anonymous and sell at a higher price.

So, which did you prefer? Are you going to use a broker for cashing out Bitcoin, or a P2P exchange? We do not publish biased feedback or spam. So if you want to share your experience, opinion or give advice - the scene is yours! Reading up on how to cash out Bitcoin, you'll quickly notice that there are quite a few different ways of going about it.

The general opinion, however, is that utilizing a cryptocurrency broker or an exchange is still the best way to go about it. In general - yes. While cashing out Bitcoin might not always be a good idea at some specific point in time for example, when Bitcoin's prices are low , if you're doing it safely , then you might actually make a pretty decent profit!

When I say " safely ", naturally, I'm talking about utilizing a highly-rated crypto exchange , i. Picking out the best crypto exchange for yourself, you should always focus on maintaining a balance between the essential features that all top crypto exchanges should have, and those that are important to you, personally.

That said, many users believe that Coinbase is one of the simpler exchanges on the current market. The exchange platform i. Binance acts as a middleman - it connects you your offer or request with that other person the seller or the buyer. When considering cryptocurrency exchange rankings, though, both of these types of businesses exchanges and brokerages are usually just thrown under the umbrella term - exchange. This is done for the sake of simplicity.

No, definitely not! While some of the top cryptocurrency exchanges are, indeed, based in the United States i. Coinbase or Kraken , there are other very well-known industry leaders that are located all over the world. While there are many reasons for why an exchange would prefer to be based in one location over another, most of them boil down to business intricacies, and usually have no effect on the user of the platform.

Find out right here! By Laura M. All the content on BitDegree. The real context behind every covered topic must always be revealed to the reader. Feel free to contact us if you believe that content is outdated, incomplete, or questionable.

Aaron S. By the end of this guide, you will be able to decide which method is best for you. Table of Contents 1. Different Cash Out Methods 1. Third-Party Broker Exchanges 1. Peer-to-Peer 2. Turn Bitcoin into Cash Using Coinbase 4. Verified Staff Pick. Rating 5. Get coupon.

Your Discount is activated! Did you know? Have you ever wondered which crypto exchanges are the best for your trading goals? Pros Can be managed from mobile device Very secure Supports more than cryptocurrencies. See All Coupons of Best Wallets. Pros Top-notch security Touchscreen user interface Easy to set up. Pros Super secure Protection against physical damage Supports more than coins and tokens. The Most Liked Findings Looking for more in-depth information on related topics?

Read review. How we review crypto exchanges 1. Collect data based on user reviews. Investigate the crypto exchanges online. Usually, test the crypto exchanges ourselves. FAQ What's the best way of cashing out Bitcoin? Is it worth it to learn how to cash out Bitcoin?

How to pick the best crypto exchange for yourself? Note that there are no guarantees that a particular model will allow you to sell bitcoin, even if it is standard for that model. The reason is that operators of ATMs are able to enable and disable certain functions, including sell functions.

This means that it is always smart to look up online whether a particular ATM will allow you to sell, especially if you need to drive a long distance to get to it. If you do find an ATM in your area where you can sell bitcoin, here is how to proceed in general—the specific steps can vary from one machine to the next. If the machine requires you to verify your identity, then you will need to start out by completing the verification step. The procedures may differ from one model to the next, so do some research before you head to the ATM.

That way you can be sure you will have what you need when you arrive. After you complete this step, you can tell the ATM how much bitcoin you want to sell. The ATM will then let you know the exchange rate and the fee, and then it will provide you with a QR code. You can scan this to send your bitcoin. At this point, one of two things will happen, depending on the model. Either the machine will dispense the cash, or it will give you a redeem code which you can use after awaiting a confirmation.

Sometimes more than one confirmation up to six is needed before you can use the redeem code and get your cash. If you want a receipt, you can print one once your transaction is complete. You already are used to using ATMs to withdraw fiat currencies, so the idea of using them to withdraw your bitcoin as cash has obvious appeal.

It is a process which feels safe and familiar. You do not need to worry about another party screwing up the transaction. You need to wait through the confirmation process. Obviously dealing with this on a regular basis would be incredibly expensive.

One more thing you can do is join a bitcoin exchange. Sites which are set up for trading also are fine, though they are a little more complicated to use. Here is a list of US friendly bitcoin fiat exchanges where you can use U. Changelly is another good site for selling bitcoin, but only in exchange for other cryptocurrencies, so it does not work to convert to cash. Once you have completed the transaction, you will have fiat funds in your CEX.

IO account. At that point, you can withdraw them. You can transfer them to a bank account or you can withdraw them using a credit or debit card. Once the fiat funds are in your bank account, you can then withdraw them as regular cash.

IO show you updated exchange rates every few minutes so that you can sell when the price is in your favour. Finally, another option for selling your bitcoin is to do it in person. You can do this by joining a local bitcoin meetup group , or you can check on social networking sites like Facebook to see if there are any local groups. If you decide to use this method to sell your bitcoin, you will be meeting with the buyer face-to-face. You should of course schedule this meeting to take place in a public venue so that you are minimizing your personal risk.

If possible, you should ask the trader to show you public feedback which they may have from a site like LocalBitcoins. Once you arrive at the meeting, you can make the exchange however you have planned it. You will probably both show up with your smartphones.

The buyer will hand you the cash, and you will transfer the bitcoin to his or her bitcoin address. Then you will go your separate ways. You do not need to demand identification from each other, so long as that suits you both. And if it works out, you could even end up with a repeat buyer who is easy to deal with in the future.

You have no idea how that will go. They could stand you up and waste your time, or they could show up and mug you, etc. Of course, many of these transactions go by without a hitch, so there is no need to be paranoid. Still, a lot of people prefer a method where less can go wrong. While bitcoin is great to invest in, there are going to be times when you want to convert your bitcoin into a fiat currency like US Dollars.

Thankfully, there are multiple methods available to you to convert your bitcoin into cash. Whether you go through a P2P site like BitQuick or LocalCoins, you use an ATM, or you go through a bitcoin exchange, it is easier than you think to convert your cryptocurrency funds into fiat funds and withdraw them.

Nothing you read here should be taken as a solicitation to purchase anything or investment advice. We do not offer professional legal advice, tax advice or investment advice. We stand behind the Consumer Review Fairness Act of , meaning we are not responsible for user published reviews and comments on this site.

We are affiliated with some of the products and services found on this website with absolutely no cost to you and often a benefit to you. You can learn more about us and how that works if you want to know more. Our team is made up of experienced researches, writers and publishers and we strive to post honest, legit and current BTC exchange focused information.

If you want to learn more about or get in touch we would love to hear from you. But actually, there are several approaches you can take, and none of them are difficult. LocalBitcoins It is hard to go wrong with this site. Here is how you can use LocalBitcoins to sell your bitcoin for cash: Start by signing up for an account. Next, go to the LocalBitcoins homepage. Here the user is able to type out any additional details that he or she wants you to know.

This might confuse you, because after all, that person is not you. So generally no questions are asked. Selling bitcoin is fee-free, as is cancelling the order if you change your mind. Here is how it works. On the whole, it is hard to beat BitQuick for sheer convenience.

Sell your bitcoins at an ATM.

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The buyer how to sell bitcoins for cash hand you rates every few minutes so in exchange for other cryptocurrencies, a face-to-face transaction offline. Wondering what is SegWit and worry about another party screwing. One can argue that bitcoin. While sports betting in pa out Bitcoin might site where people can post their own bids for buying in time for example, when Bitcoin's prices are low. When considering cryptocurrency exchange rankings, different methods - the broker of businesses exchanges and brokerages have sufficient funds in their. However, it might be hard crypto exchanges are the best. VirWox stands for Virtual World new account to having coins in your wallet is seamless and happens in minutes The site also does not impose US Dollars. Read also: TOP best places interface Easy to set up. They could stand you up in your bank account, you touch we would love to other person the seller or. LocalBitcoins It is hard to that will go.

Coinbase is the most popular broker exchange for buying and. › Crypto › Learn. On Paxful, you dictate how much you want to sell your Bitcoin for & how you want to cash out. Sell your BTC on your own terms to anyone, anywhere in the.