Selling the Cryptocurrency Coin Procedure
Selling the cryptocurrency : -
How to sell Bitcoin: 5 ways to ‘cash out' your BTC holdings : -
Cryptocurrency exchanges
Despite having several disadvantages, exchanges are a one-stop solution when it comes to trading Bitcoin. In the case of selling the cryptocurrency, exchanges act as an intermediary, holding sellers’ and buyers’ funds.
To use a crypto exchange, you must set up an account with the platform of your choice. Many reputable exchanges require identity verification. Connecting a bank account is necessary for withdrawing cash. Be mindful of exchange restrictions based on your country, however. Some exchanges ban participation from certain regions.
Once you have an account on an exchange and have transferred your Bitcoin to that exchange (or if you already have an account with Bitcoin held in it), simply place a sell order, stating the type of currency you wish to trade, its amount, and your asking price per unit. The exchange will automatically complete the transaction once someone matches your offer. Trading crypto, however, can be much more complicated than this brief description, with multiple order types and more.
Direct trades (person-to-person)
Another way of selling your Bitcoin is via a direct trade with another entity, either online or in person. There are several ways to achieve this, either by setting up a direct meeting to sell Bitcoin in person or by performing the transaction online through a specialized platform.
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