When you are buying the bitcoin then at some point you obviously want to sell it. So the question “How To Sell Bitcoin?” is something that comes to the mind of every person who is involved in this business. The answer to this question is simple but not a short one but we will try to answer it in an easy, short and understandable way.
When it comes to the cryptocurrency Bitcoin is the first name that comes to the mind. It is the major digital currency in the cryptocurrency world with the highest market cap. So trading in the bitcoin can be profitable for you. The only problem with it is – it is the most volatile currency in the world. So to gain the profit you should know each and everything about it with a constant watch over the market.
How to Sell Bitcoin?
When you are trading in bitcoin knowing the best way to sell the bitcoin is the most important part to gain the profit. There are many exchanges which provide the facility of selling the bitcoin. Here are some of the most popular exchanges you should use to sell the cryptocurrency.
- Kraken and many more
The most important thing to keep in mind is that the transaction rates of these exchanges are different. So choose the exchange which charges less and will provide you the most of the benefits like security, speed, user-friendly interface and many more. Here are the basic steps you will need to follow to sell the bitcoin:
- You have to log in your account of the exchange you are using.
- Click on the sell button provided on the home page of the exchange.
- Submit the amount of bitcoin you wanted to sell.
- Connect the wallet from which you want to sell the bitcoin from.
- Before you click on the sell button double check the transaction details.
- When you are sure about the transaction information click on the sell button.
Which Exchange to Use?
When you are selling the bitcoin there are different things that you should keep in mind. Some of them are discussed below which will help you decide which exchange to use if you are interested in trading them for the fiat currencies:
Coinbase is the exchange which is popular all around the world for the trade of cryptocurrencies. Here you can buy or sell the bitcoin with the proper security features. When you will be selling the bitcoin you should check the trading fees as it can vary from time to time.
But the withdrawal rates are different for different things like for
SEPA is 0.15 Euro.
U.S Bank transfer you will be charged 1.49%.
Coinbase USD wallet you have to pay 1.49%.
For the wire transfer, you will be charged $25 which is fixed.
When it comes to the free withdrawal then Coinmama is the best option as they do not charge any withdrawal fees. But the problem is they charge very high for the trading or buying the bitcoin.
If you want the fast transaction with low fee and security then Kraken exchange is the best option for the users. The only thing about it is – it does not have the best user interface in comparison to the other exchanges.
So these are the common exchanges which are used by the traders of bitcoin and other cryptocurrencies.
From the above article, you have got the idea about How To Sell bitcoin and might have decided which exchange you are going to use. So trade in the bitcoin with proper information as without it you may pay extra money which you should not.