Bitcoin was the first digital currency invented in the year 2008 by a group of people, or an individual, known as Satoshi Nakamoto. This cryptocurrency is popular all over the world. People are interested in investing in this cryptocurrency because there is a high Return On Investment (ROI).
Even popular celebrities are interested in investing in cryptocurrencies such as bitcoins. This virtual currency uses a network, known as blockchain technology, to secure the transactions. It makes your transactions very fast and eliminates the need for any third parties. Keep in mind that only a sender and a receiver are involved in the process.
Governments or banks have no control over these currencies. The best benefit of using these virtual currencies is that you can easily buy online goods and services with a very transaction fee. Moreover, Bitcoin ATMs are also available to purchase bitcoins using your credit or debit cards.
Today, even the institutions and brands are accepting bitcoins widely because they have realized the benefits of bitcoin. You have full control over your money. You don’t have to visit a physical store for the transactions; these save you lots of time. But as a beginner, if you are willing to invest in bitcoins, you must have a clear understanding of the cryptocurrency markets.
How to Sell Your Bitcoin in 5 Steps
Now, you have the basic idea about bitcoins and its benefits. Still, there is a lot that you need to know before investing in it. Visit daily profit to make your concept clear. Now, if you already started investing in bitcoins and want to sell your bitcoins, then you need to follow some steps.
First, you need to be very alert while selling your bitcoins because you can lose everything by just a silly mistake. Therefore, here are the simple steps to sell your bitcoins,
1. Find a Website:
Finding a trusted website is the first step that you need to follow to sell your bitcoins. There are several bitcoin selling sites available on the internet but finding the best one can be difficult.
However, keep in mind that only a few sites provide trust, best price, and high liquidity. But keep in mind that the fees should be low, the volume should be good enough, the website should be a trusted one, and the site should accept your country bank account.
Some of the trusted websites are CEX, WazirX, Coinbase, Localbitcoins, etc.
2. Create Your Account:
After finding a reliable website, you can start creating your account. Depending upon your residence, country, and website, the process can take up to five minutes to a few days.
After creating the account, you have to complete the verification process. However, selling a large number of bitcoins can take one to two days. But if you want to sell only a small amount of bitcoins, you can sell instantly. You can sell bitcoins via your bitcoin wallet.
3. Transfer bitcoins to another wallet:
To access your bitcoin wallet, you need to find the private keys that are stored by your wallet. After completing this step, you can transfer your bitcoins, and this usually takes up to one hour.
4. Put a sell order:
Different websites have their own unique features that you need to follow properly. Before selling your bitcoins to a particular website, you must research it carefully.
Now, after receiving the bitcoins in your wallet, you can proceed to place a sell order. This will help you to sell bitcoins at the present bid.
5. Cash Out Funds:
After selling your bitcoins, you will receive fiat currencies in your account. You can transfer these fiat currencies directly to your card or Paypal account. However, the process can take up to one or two days or even a few hours. The process is completely dependent on your website policy or country.
The Final Thoughts
Therefore, these are the five simple steps that you need to follow to sell your bitcoins. Follow the above instructions very carefully during the transactions; you can also take customer support if you need it. You must also research in detail the whole process or watch a video.