One day you can realize that is time to get out of the Bitcoins passion, and it is good to know how to sell Bitcoin instantly and get what you're owed in return.
There are 2 main methods which is very different from each other. It depends on how much time you have, how much you want to sell and what profit to get. Trades on the exchange platform.
Probably the fastest way to buy Bitcoin or convert into main world fiat currency is an exchange platform. The largest of them provide this opportunity and if they don't offer modalities for the exchange you need, there are many others to choose from.
Regardless of the chosen option, the exchange scheme to sell Bitcoin is the same everywhere:
- Create an account,
- Set up wallet,
- Link your wallet and bank account together,
- Use your deposit address to conduct transaction.
Then you can place your "sell order" for market price. Some exchanges allow you to place different types of orders such as: limit, stop limit, stop market, trailing-stop in case if Bitcoin's price can drop below a certain point, the deal would not proceed.
After the deal is completed, the money will be transferred to your bank account in the relevant currency. Please note that as a rule, the exchange will charge a small fee for the use of their services. Direct trades.
Direct trades are the safest option If you prefer the conventional sale process. We'd recommend getting your account set up well, as for sale you will need to register and probably confirm your identity through KYC.
The method of transaction may depend on the Bitcoin website service you are going to use, but the sales setting is comparable on most of them. The only thing you have to register as a seller on platform and some individuals will contact you if they accept your price. Transactions are usually done via deposits or wires to your bank account, after which you can transfer the agreed amount of Bitcoin to the specified address. However, some of this websites have much more options, including gift cards, MoneyGram, cash by mail and even cash in person.
As an alternative, you can sell Bitcoin instantly to your friends and relatives once they have set up wallet. Just send the bitcoin, collect the cash or mobile payment, and the process is complete.