Bitcoin is one of the major cryptocurrencies in the world and has the highest number of investors. Right now, the Bitcoin price is $67,585 and nearing the all-time high of $68,789 reached on November 10, 2021. So, what does this mean for BTC investors? This is the right time to sell your cryptocurrency.
Therefore, it is good to know how to sell Bitcoin for cash if it is your first time so that you can make the most profit and avoid costly mistakes. Let’s dive right into that.
Plan for How Much Bitcoin to Sell
Do you want to sell one whole Bitcoin, even more, or just a fraction of one? All these are possibilities, and it depends on your plan. As a newbie, it is good to sell a fraction first to see how it goes. Research to know how the BTC market is doing right now and the volatility possibilities as well as assess all other risks.
Apart from knowing how to sell Bitcoin for cash, many investors also gather more information to help them in the journey including what other cryptocurrencies are doing well, the most affordable but reliable crypto exchanges, and more.
How to Sell Bitcoin for Cash – Choose a Reliable Exchange Platform
Anyone who knows how to sell Bitcoin for cash can attest that a reliable platform is the key to success in the process. Today, many crypto exchange platforms offer instant services that are reliable and secure.
One can use physical exchanges with knowledgeable personnel to take you through how to sell Bitcoin for cash. Also, online exchanges are easy to use through their user-friendly and intuitive web interface or mobile app. All options are good as long as the exchange is reliable, fast, and affordable.
Be Aware of Commission Charges
All crypto exchanges do charge commission to facilitate exchange including through offering information or assistance on how to sell Bitcoin for cash. However, the commission should be competitive compared to others.
You can evaluate this by comparing the commission charges for various popular and top-rated exchange platforms to determine the average cost. This will help you to make the right decision when choosing your appropriate platform to sell Bitcoin.
How to Sell Bitcoin for Cash – Create an Account and Verify Your ID
This is one of the most important steps for newbies who want to know how to sell Bitcoin for cash. Most exchange platforms require users to open an account and verify their identity or just provide their personal details for security reasons. Furthermore, this is a protocol called know your customer (KYC), which many exchange platforms follow.
Sell Bitcoin for Cash
By now, you are all set to sell Bitcoin for cash. So, follow the steps set by the platform on how to sell Bitcoin for cash or let the personnel at a crypto shop help you. Typically, it involves a series of steps including providing your Bitcoin wallet address and bank details to deposit the cash. Physical exchanges are the best for instant liquidity, making it possible to walk out with physical fiat cash.
Final Words
There is no better way to sell Bitcoin for cash than to use a reputable and secure crypto exchange. This article is clear on how to sell Bitcoin for cash regardless of the option you choose. If you are planning to do it now, when BTC is at its peak, you will make some good profit.
