Are you planning to invest in cryptocurrency? Or, trying to sell the crypto holdings that you have bought while the price was low? Well, if you for any reason are willing to make a sale of your cryptos, this blog is for you. Here we have a light on some of the key factors that you should be taking into consideration when it comes to selling bitcoins. Start Trade cryptos stable coins, bitcoins and other coins on the most trusted platform.
There are several options to do so you can sell them via centralized exchange or broker or decentralized platforms or you can even sell them to a person. Even, bitcoin ATMs offer this facility of selling bitcoins. Let’s explore more about the same.
Buying and Selling Bitcoins
Finding the best crypto exchange:
If you are planning to sell Bitcoin, you must first have a safe place from where you can purchase the cryptocurrencies. Or, if you have purchased already and need to sell now, even then be sure that you are dealing with a reliable trading exchange. However, to register yourself on a crypto exchange platform you must first begin by looking for the best crypto exchange. The simplest way to figure this out is to check the reputation of the platform along with the terms and conditions. You would not want to end up registering yourself on a platform that is a scam. Hence you must focus on doing app research to understand how the crypto market is performing.
Creating your account:
After you have found the best crypto exchange the next step is to create a trading account on the platform. The process is pretty simple. All you need to do is enter the details asked by the platform which is usually your name or email ID followed by contact details. After feeding all the details of the verification code are sent. Once the account is verified you will have your crypto account ready for the purchase and selling of cryptocurrency.
Add funds to your account:
If you want to purchase some cryptocurrencies you should add funds to your account. For this, you would need to check what are the different platforms supported by the crypto exchange. For example, most of the platforms now offer the facility of adding funds via credit card or debit card or your PayPal account. However, credit card and PayPal account fund addition come with the charge. The discharge may vary from one platform to another and hence you must have a closer look at it.
Once you have done the verification and also check the crypto accounts, you can now start adding the funds. At this stage, we also recommend investing in a good crypto wallet. There are different crypto wallets with their benefits as well as shortcomings. Cold wallets are safer than hot wallets due to no internet connectivity as by this they can avoid online scams. Usually, a hardware wallet is preferred over the software wallet because it is not accessible by the Internet and hence there is less of a probability of a breach attempt thus it is a safer option.
If you are done with this process, you can easily add funds to purchase the cryptocurrency and sell it on a crypto exchange platform. However, any point that needs a mention here is that you must also check the liquidity of the crypto exchange. The years at which it allows the conversion of currency into cash is called liquidity. Trusting a platform that doesn’t offer you these features me to create an issue later. Hence you should not be choosing just any crypto exchange.
Selling cryptos to individuals:
Another method of selling cryptocurrency is by selling it to an individual. Nowadays most people are keen to have cryptocurrency but while doing so you must ensure that you are selling it to the right person. Since cryptocurrencies cannot be tracked easily, there is a greater probability of them using them for illicit purposes. You would not want to do so and hence, you must check the credibility of the person buying the cryptocurrency from you.
Wrapping it up!
This brief discussion on the selling of cryptocurrency will also assist you in buying it from the best platform for keeping your investment safe.