Bitcoin trading is profitable when you know how and when to sell it. If you have started collecting bitcoins, opened your bitcoin trading account already, and put your hard-earned money into it, you must know how to sell it. Well, Bitcoin Transactions selling is as simple as buying bitcoin but has some basic differences. But before you trade r sell, you need to open an account first, by clearing all the major documents that you have. The verification of documents is very essential.
You might have opened a bitcoin trading account and stored your bitcoins in your wallet. If not, these are the primary things you should do. Bitcoin can be bought through centralized bitcoin trading exchanges and peer-to-peer bitcoin trading exchanges.
There are so many ways to sell bitcoins. But, when you are selling it for making some profit, you have three options. They are centralized bitcoin trading exchange, peer-to-peer bitcoin trading exchange, and bitcoin ATMs.
Bitcoin selling through the centralized exchange:
These exchanges are basic forms of exchanges. Though the bitcoin network is decentralized the exchanges are not. They are regulated by third-party exchange companies. If you hold some bitcoins and want to sell them from these exchanges the processes are as follows.
- First, make sure you find a reliable trading exchange like the 1K Daily Software that is preferred by many investors because it gives its users the freedom to invest in the asset of their choice. One can go ahead with CFDs, bonds and currencies along with cryptocurrencies. Whatever you choose know their reviews and the services they offered.
- Then register yourself with the platform by verifying your IDs.
- In this step, the bitcoin trading account will be opened.
- Now you have to link the account with the bitcoin wallet where you are holding the funds.
- So, you have your private key and the public key in the bitcoin wallet. Transfer the amount of bitcoin you want to sell in your trading account with the help of the private key.
- Once you have your bitcoins in the trading account you can see there is an option indicatinga sell order. Select the amount and press the sell order. Your bitcoins will be sold.
- Check the holding period, the trading account, and the bank account where you will be receiving the amount.
- Find the right amount that you want to invest and check that you spend only 5% of your total amount of saving.
Bitcoin selling through the decentralized exchange:
Decentralized exchanges are peer-to-peer exchanges and work by directly matching buyers with the sellers.
- Here you can see the sellers offer their own selling prices. You also have the option to give your required price offers for your bitcoins.
- Now you have to wait until a buyer connects with you.
- If a buyer shows interest in your offer and finalizes the deal, you have to ask for the buyer’s public key or the bitcoin address. And, you have to share the account details where you want to receive the fund.
- Now, the buyer will send you to pay you the fund in your account by any online payment medium.
- Once you get the payment, you will send the bitcoins to the buyer’s bitcoin address.
Bitcoin selling through bitcoin ATMs:
Bitcoin ATMs are the latest medium of bitcoin trading. They are very convenient if you have one in your area. But, they charge more than any trading exchange.
- To sell bitcoin through the ATM you need to have your bitcoin wallet device with you.
- Now, on the touchscreen of the ATM, you have to select the type of cryptocurrency. Select bitcoin for bitcoin selling.
- Then, select the sell option.
- In some large transactions, you might go through some verification process here.
- After that, select the amount of bitcoin you want to sell and again press the sell bitcoins option for confirmation.
- Now you will be provided a QR code either on the ATM screen or by printed paper.
- You have the scanning option in your wallet. From there you have to scan the QR code.
- The sale will be automatically executed now.
- You can receive your cash in your account directly or you can withdraw them from the ATM.
Conclusion:
There are multiple guidelines that will tell you how to invest. Just downloading any kind of app and following instructions do not always help. You need to have the right back-up and briefing about the whole big world of crypto and digital currency and then only you should start investing.
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