Where To Sell Your Bitcoin? There are numerous options for people to exchange their Bitcoins for fiat money (such as dollars, euros, etc.), both online and offline. This article will help us find out.
Where To Sell Your Bitcoin: 4 Ways To Sell BTC
Selling Bitcoin with PayPal
How to sell Bitcoins and receive money into your PayPal account is one method that people frequently lookout online.
Because they are unable to offer chargeback protection for Bitcoin transactions to their clients, PayPal, in general, is not a big fan of Bitcoin.
Nevertheless, there are still a few methods that enable you to exchange Bitcoin for PayPal.
Coinbase
You can link your Coinbase and PayPal accounts using the well-known exchange Coinbase (accessible in 103 countries globally). Although you can't purchase bitcoins in this way, you can sell bitcoins on Coinbase and withdraw the money to your Paypal account.
The US, UK, and EU all offer this feature. Here is how to accomplish it:
1. Open a Coinbase account
2. Finish the account verification process.
3. Go to Settings > Linked Accounts > Link a New Account button
4. Select PayPal and access your PayPal account.
If your country is supported, this is most likely the quickest and easiest approach available.
Selling Bitcoin with a Credit Card
You can withdraw money from some exchanges directly to your credit card. Although this method is typically quicker than a wire transfer, the cost is slightly more.
For instance:
CEX io
You can withdraw money to your MasterCard or Visa using the London-based Cex io service. Your verification determines the maximum withdrawal amount; accounts with improved verification are exempt from this restriction.
Depending on the type of card used, the cost of withdrawing money to a card might be anywhere between 1.2% and 3%.
Selling Bitcoins with a Bank Account
Selling your Bitcoins most likely involves sending money to your bank account via wire transfer or another similar method (eg SEPA, ACH, etc.).
This approach is supported by almost all Bitcoin exchanges, including Coinbase, CEX io, and LocalBitcoins.
How Do I Sell Bitcoins for Cash?
To protect anonymity or perhaps just for the sake of convenience, some people prefer to sell their Bitcoin for cash or directly to another person. If that's the case then you have several options.
Bitcoin ATMs
Bitcoin ATMs are devices that dispense cash while accepting bitcoins. Some ATMs only let you buy Bitcoins; others don't let you sell them. Some of them won't even ask for identification or other forms of verification.
The amount you can typically withdraw from an ATM is limited, but for a little sum, this can be a suitable alternative.
Paxful
Since it launched in 2015, Paxful has made it possible to locate buyers and sellers who accept a variety of payments, including cash. This indicates that Paxful can identify local cash purchasers.
I advise you to limit your trading to Paxful transactions that use escrow. Additionally, I advise you to conduct any in-person trades in a secure setting. Courthouses, police stations, and bank lobbies are all suitable locations.
It's advisable to pick a place with access controls, metal detectors, security cameras, and guards when transacting with a seller for the first time or when selling large quantities. Although rare, there have been reported cases of mugging and fraud. Overall, exercise is common sense.
Conclusion: Where To Sell Your Bitcoin: 4 Ways To Sell BTC
You have a wide range of options when it comes to selling bitcoins. Remember that reversible methods like credit cards and PayPal will almost never provide you with better rates and lower fees than irreversible methods like wire transfers.
