What’s The Best Way To Sell Bitcoins?

Whether you’ve bought bitcoins as an investment or you just happened to buy a bunch and now want to get rid of them, there is a time and place to sell bitcoins.

With the sudden growth and popularity of the digital currency, there are a number of questions that people have. Chief among these is the question of selling bitcoins. If you’re new to the market and find yourself with an amount of BTC that you want to get rid of, you’re probably wondering how to do it.

Selling bitcoins is actually pretty easy. While there are some shady people who will attempt to steal your BTC, as long as you maintain it in a secure wallet (like a hardware wallet or paper wallet) until the time of the transaction, you’ll be fine. Just remember to take the necessary precautions when selling your bitcoin, like making sure you have someone with you when you go to sell BTC in person, or verifying that you’re using a reputable market or exchange.

Selling bitcoins can be done a few different ways. First, you can put it up for sale on an exchange. Depending on the exchange you’re on, you’ll either have a broker finalize the deal for you, or you’ll be put in contact with the person who is willing to buy your XBT and then work the transaction out yourself, without any further interaction with the market. This is a popular way to sell your bitcoin.

You can also sell your bitcoins for physical cash in person. You can find chat rooms or pages on social media that are dedicated to linking buyers and sellers of bitcoin so that they can meet up in person and make an exchange. If this is your chosen method of selling BTC, be cautious. Meet in a public place and have someone with you. There’s no reason to put yourself in a dangerous situation.

There are also bitcoin ATMS, which allow you to sell your XBT to the machine and receive cash in exchange. This isn’t a very common method of selling bitcoins, but it is one that is available if you have a BTC ATM in your area.

There are certain fees associated with any method, and finding someone who wants to pay what you’re asking for your bitcoins is always half the battle. But once you do find someone willing to purchase your bitcoin, there are plenty of platforms that are safe and easy to use.

If you’re not using bitcoin for investment purposes, and just want to get rid of them, you can “sell” them through something called a peer to peer transaction. This is where the person with BTC is willing to trade the currency for discounted goods. So let’s say you have 2 bitcoins and a full Amazon Wishlist. You post the wishlist and the discount you want, say 20%. The market will connect you with someone who will pay for the items on your wishlist and have them sent to you in exchange for your bitcoins. It’s a pretty interesting way to “sell” your BTC.

Let me preface this by saying that I am not an investment expert, this is just an opinion. There, now you can’t be mad at me.

So the question is, should you sell your bitcoins. Bitcoin is one of the most volatile currencies around. But that’s not necessarily a bad thing. The fact that it fluctuates so much so quickly is one of the most appealing things about it, actually. One day it could be $1200 and the following week it could be up to $1700+. That’s a nice profitable investment for just a week of waiting.

But that’s just one example of what BTC is doing week to week. A few months ago when the Winklevoss twins had their SEC meetings and had their requests to bring XBT to the market, Bitcoin dropped from $1200 to about $900 per unit in like, a day.

So just because it’s high one moment and low the next, doesn’t mean you should get out right away. You have to wait for it to climb. Remember, the basic goal of an investment is to buy low and sell high. So it’s not about if you should sell as soon as it starts to trend up or starts to trend down. It’s more about watching the market and seeing where the currency is going. You can’t just watch it on a chart, either – you have to be aware of what’s going on in the world around it, because one word could send it skyrocketing or plummeting.

So it’s not as simple as answering one question. “Should I sell” leads to “what’s the market doing” and that leads to more questions which lead to more questions. The best thing you can do with bitcoin is research the market, pay attention to what’s going on, and when you feel confident that the conversion rate is as high as it will go, sell. The point is always to sell high and buy low. So if you’re comfortable taking your money out of bitcoin at a certain value, then it’s time to sell. If not, let them cook a little longer.