If you are a BTC holder and are looking to sell off your crypto, you have come to the right place. This article aims at providing you with the necessary knowledge and information to assist you in selling off your bitcoins. We will be identifying five of these steps which play a key role in selling your crypto. It should be known that the steps we will be discussing in this article are usually the same, regardless of any platform you choose to sell your bitcoins.
The best way to sell your BTC is to hold them for a while and wait for the price to rise substantially high so that your profit margin is maximized. But the fundamental concern is how will you do it and how will you comprehend that the platform you are selling it on, whether it is secure and reliable or not. Search on the internet and watch videos based on user testimonials in order to land on the most reliable, authentic, and best website for yourself. However, here are some of the different steps by which you can track and sell your bitcoins smartly.
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The concepts discussed in this article, and the steps identified for you can be hard to grasp. However, we guarantee that once practiced and repeated enough times, the users will get hold of them easily.
5 Simple Stages of Selling BTC
The list we have identified and presented to you for your convenience of selling your BTC and making a profit over this transaction is as follows:
Finding the most suitable website for yourself to sell your BTC
There are numerous options of websites available on the web, which can enable you to sell your bitcoins. However, among all these options, just a few offer the highest liquidity, legitimate platforms provide a safe and secure connection and best prices for the users.
Here is a brief list of things you should be aware of before proceeding with the website
- The website you are at supports or operates in your country where you are residing currently
- The website should be legit and reliable so that you don’t become a victim of counterparty risks.
- This website should have a pair for the bitcoin exchange, e.g., Bitcoin to USD and especially the national currency of the user.
- The volume being sold of the BTC should be big enough so that the user can avail the best price it is selling at.
- The charges or fees of the exchange should be lower so that you can maximize your profits.
If you want to ensure the best results in terms of selling your crypto, search the internet for the best and the most reliable website for selling your BTC.
Opening up an account
The next step after finding a legitimate website that is operating in your country and is also authentic will be signing yourself up on the website, hence forming an account on the website under your name. This procedure can be time-consuming though, as it can take time from a range of five minutes to up to two days. How much time it takes for you to get registered on the website officially depends upon several underlying reasons such as the location of the user, and also the form of the website being used by the user for selling their crypto.
Deposit Your BTC in the digital wallet
After the account has been formed, the users are free to use the website in any way they want. In the section of depositing the BTC, the users can look for and find a unique and special address in order to place their BTC deposits inside the wallet. It should be known that the time required to transfer the crypto to the wallet can vary anywhere from a range of six minutes to almost an hour. Be patient and wait for the transaction to be completed.
Placing the Sell Order
You should be aware and keep a track of your wallet. The moment you notice that the BTC is deposited in your crypto wallet, you are ready to place a sell order by following a few simple steps. One thing you should be doing before putting it to sell is that you should research the market for the prevailing market price of BTC and then you should set your bitcoins on sale according to that prevailing rate. For the holders, the platforms for selling have organized sections with guidance and tutorial videos in order to provide users with assistance and facilitate their operations in an easy-to-use way. You should then easily be able to place sales orders.
Cash-out deposits
You will receive money (in the form of regular fiat currency) as soon as your crypto will be sold. The users can simply withdraw this amount from their bank accounts using the withdrawal methods offered by their respective banks. Not only from banks but they can also withdraw from other popular online services such as PayPal and other resources, whichever is more suitable for them. It is noteworthy that this process is generally quite simple and convenient and gets executed within one or two days or sometimes even immediately. You should be well aware of the laws of your country as this process depends upon the process policies and website policies of the region you are residing in.