4 ways to sell your Bitcoin BTC in 2024

Nevertheless, I’ll include some of the recommended P2P platforms with detailed guides to help you get started. Score based on genuine user reviews & opinions about the crypto exchange. You might also have to prove your identity with an ID card, driver’s license or passport before withdrawing funds. This is a step that most exchanges have to take to follow anti-money laundering laws. It shouldn’t take long, but you won’t be able to move your money without it.

How To Sell Bitcoin In Australia

• 2FA adds an extra layer of security to your account by requiring a second form of verification, such as a code sent to your phone, in addition to your password.
• However, keep in mind that exchanges may charge fees for trading, depositing, and withdrawing funds.
• One of the key benefits of cryptocurrency transactions is that they are fast and secure.

However, there’s no option to get an escrow in real life — or rather, if you did, it would totally defeat the point of hiding it from anyone else. Because of this, in-person bitcoin transactions are much riskier than any online exchanges, and you should be careful if you choose this option. Of course, if you really want to stop people from tracking you, then trade in person. You give the person some cash, and they give you access to a wallet of coins or send you the bitcoin online. Once done, it’s harder to get information from than even bitcoin ATMs — as long as the other person doesn’t tell anyone.

Step 5: Withdrawing Your Funds

Beyond his prolific writing commitment, Aleksander helps with managing the website, keeping it running smoothly at all times. He also leads the video production team and helps craft e-courses on online technology topics. Outside of the professional realm, he is a digital nomad with a passion for traveling, having lived in many countries across four continents. Cloudwards.net may earn a small commission from some purchases made through our site. Sending bitcoin is as easy as choosing the amount to send and deciding where it goes.

Different Cash Out Methods

I’ll show you how to withdraw Bitcoins to cash using an exchange (namely, Binance) and through a peer-to-peer exchange. In the “withdraw” page, just select your bank account, choose how much you want to withdraw and then click confirm. There will be a withdrawal fee — usually a small percent of the payment or a fixed number of a few dollars — shown before you confirm, so make sure you’re OK with this before continuing. Using a peer-to-peer marketplace is a little harder than other methods, but it gets around the transaction fees and limitations of going through an exchange. However, if you’re willing to take on the challenge, this is how you make a P2P trade.

Sell Bitcoin to fiat currency

To demonstrate, here is a full guide on how to sell Bitcoin on Binance. The fees incurred when selling Bitcoin depend on the method selected and the platform the investor uses. When using an exchange to sell BTC, the fees charged usually come at a flat rate. For instance, Binance is one of the most economical exchanges that charges 0.1% to sell Bitcoin and is an ideal platform for those who want to lower their crypto fees. Moreover, there are also fees to transfer Bitcoin between wallets and exchanges that should be considered.

Another important consideration is any news or events that may impact the value of your Bitcoin. For example, if a major exchange announces that it will no longer support a particular cryptocurrency, this could cause the value of that cryptocurrency to plummet. Keeping up with news and events can help you make informed decisions about when to sell your Bitcoin. The concept of cryptocurrency was first introduced by an unknown person or group of people using the pseudonym Satoshi Nakamoto in 2009. The first and most well-known cryptocurrency is Bitcoin, which has paved the way for many other cryptocurrencies to follow. Once your Bitcoin has arrived in your account, you have a couple of options for how to sell it, depending on which exchange which are the top cryptocurrency exchanges you use.

Also, you won’t be charged any transaction fees when using Bybit P2P, so you can enjoy easy selling (or buying!) of crypto. Nevertheless, some conditions apply depending on the payment method you choose. Bybit offers all the necessary information about it, so make sure to read it before completing a transaction.

BitPay allows you to purchase gift cards with Bitcoin along with 15+ other top cryptocurrencies. Cash out crypto onto popular gift cards like prepaid Mastercards, Best Buy gift cards ledger live and more. You bought low, hodl’d and now are ready to enjoy some of your crypto gains.

However, no amount of trading knowledge can save you from the losses cybercrime can cause. That’s why you should always use a reliable antivirus to keep your computer safe and the best VPN for crypto trading to keep you safe online. A VPN also helps you buy and sell Bitcoin in countries where crypto is illegal. We’ll focus on hot wallets, but even then, you should make sure to research the one you choose well, so you don’t end up losing all of your should you buy bitcoin with your credit card invested money to a security flaw or fraud. Sapphire Fox is a seasoned expert in online backup and cloud storage with nearly four years at Cloudwards, combining her extensive engineering background with editorial skills.