Cashing out i.e. selling bitcoin is not as straightforward as buying them. If you want to sell your bitcoins online then either do it through an exchange, as a direct trade or through transactions through p2p systems. While not in your home it is also possible to withdraw money through a bitcoin ATM using a crypto debit card or even through selling them in person. The following are some ways and means of selling bitcoin.
Despite a lot of potential problems, exchanges are a good solution for the trading of bitcoins. For selling them they can act as an impartial intermediary and transfer buyers and seller’s funds to each other. The process is fairly straightforward and only needs a small setup.
Just set up an account with an exchange of your choice, for the majority of them your identity will need to be verified and bank account will need to be connected for fund transfers, etc.
The next step is the placement of a sell offer, this allows you to also state the type of currency you want to trade along with its amount and price, etc. Once another person’s offer matches yours the transaction takes place.
The funds get placed into your account and then can be taken out through the connected bank account. This can take time sometimes if there are technical issues or other types of issues in the middle, the problems occur when some banks refuse to process transactions relating to the cryptocurrency and cryptocurrency trades. However, some cryptocurrency platforms allow for a crypto debit card to be used and can make the process far easier.
Another good way for selling the Bitcoin is through direct trade with another individual. This is present on websites that work with exchanges. They can even provide a crypto debit card for use and these crypto debit cards can be used with the intermediary for the connection. The setup is fairly simple, it requires registering as a seller, identity verification and posting offers. However, with direct trades, the problems are that it can be quite difficult to actually, so research is imperative.
Crypto debit cards
While we have talked about these a bit before crypto debit cards are some of the most important developments in the world of cryptocurrency today. Providing all the convenience of regular cards crypto debit cards are some of the best ways to safely and conveniently use your cryptocurrency. While many companies have failed to implement this some others like Paycent have a crypto debit card that has been distributed to over 50,000 people and enables the use of cryptocurrency for transactions in stores, as well as for withdrawal through regular ATMs by simply using the card. The card is already convenient but crypto debit cards also allow for the use of several different cryptocurrencies which include Ethereum, Litecoin, Binance, and many others.
While Paycent might be one of the most successful companies in the world of crypto debit cards it is definitely not the only one. Some other cards come from Cryptopay, Bitpay, and many others.