What can you do to sell Bitcoins?
Selling Bitcoins works in exactly the same way as buying them, therefore the same resources can be used. Most users sell altcoins via Bitcoin exchanges, which seems to be the most popular method to trade them. There are different kinds of places that buy Bitcoins, some are more popular, and others are less, but they all meet a common objective: they allow users to trade Bitcoins for other digital currencies or even fiat currencies, such as US dollars and euros. It’s important to check out different exchanges as they might offer different currency options.
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Using an altcoin exchange is simple as most of them are designed to make the trading process as intuitive as possible. The choice of an exchange is dependent on your country of residence and the fiat you want to convert your altcoins to. For example, most websites trade Bitcoins for dollars, but only a few convert them to British pounds.
Selling Bitcoins on an exchange is easy: you need to transfer the amount you want to convert from your wallet to your account on the exchange, perform a trade and then use your exchange funds transfer service to send the converted amount to a bank account or elsewhere.
The most popular exchanges are efficient and secure, and they charge minimal fees for processing funds. Although exchanges are secured, it’s better not to store Bitcoins there, as cybertheft is still a problem. It’s advised to store Bitcoins only in a dedicated Bitcoin wallet, ideally offline and cold storage.
There are also private agents that allow converting Bitcoins to other currencies. Localbitcoins.com is the main resource for that kind of exchange, because they do a listing of traders by country. Private agents are individuals with sufficient liquidity to work like a website exchange.
Exchanging money via a private agent works quite easy, as you only need to send funds to an agent’s Bitcoin wallet, and the agent sends you the equivalent in the currency of your choice.
Please, remember that this practice is not regulated and depends on mutual trust only. All agents registered on localbitcoins.com get feedback, but there is no real guarantee that your transaction will be conducted. We wouldn’t recommend using this way to convert your Bitcoins unless you know for sure that the agent you’re using can be trusted.
Another way to sell your Bitcoins is to use 247exchange.com, a service that allows withdrawing altcoin to credit and debit cards, bank transfers, cash, and e-wallets. This website allows users to instantly trade Bitcoins to fiat currencies and pick them up at one of over 400 000 locations all over the world. This service is safe as it’s provided by a licensed financial company.
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