Few could have predicted the significant growth Bitcoin would take when it first debuted in January 2009. The popularity of Bitcoin has seen its value soar while making millionaires out of its investors. Unfortunately, it also led to a rise in fraudsters, scam artists, and hackers. From fake wallets to fraudulent peer-to-peer exchanges, there are different ways to acquire Bitcoin through illegal means. If you’re selling Bitcoin in 2021, you want to ensure your transactions are protected.
Thankfully, there are many safe ways to sell Bitcoin, ranging from online exchanges to Bitcoin machines. However, some Bitcoin owners may be apprehensive about certain platforms due to the possibility of fraudsters. As such, reputation and research come into play. Bitcoin rates vary from portal to portal, with fluctuations happening hourly. If you want to maximize the value of your cryptocurrency, find the best and safest platform that works for you.
Here are the best ways to sell Bitcoins in 2021, turning your cryptocurrency into fiat currency:
Quick and Simple
If you want a quick and easy method, selling through an online exchange or a BTC machine works best. A transaction on an online exchange can be arranged on your phone. You don’t even need to leave your seat.
If there’s a Bitcoin ATM near you, you have another way to sell Bitcoin very quickly and complete transactions while the market is hot. Although speed isn’t the priority for everyone who trades cryptocurrency, it may be a key factor for you. In that case, using a Bitcoin machine is easy to learn.
When Privacy Matters
The other way to go about selling Bitcoin is to prioritize privacy. Any crypto trading platform or exchange is linked with your private information, including sensitive financials. For those who prioritize confidentiality, you may be concerned about your privacy when using online exchanges.
Fortunately, a Bitcoin machine doesn’t require that type of personal information. It’s a more private method of selling Bitcoin that protects your banking information from being tracked. A peer-to-peer marketplace is also a great place to use Bitcoin to buy certain things. Just be careful that the buyer or seller on the other end is legitimate.
Use a Digital Wallet
A digital wallet is where you can store your crypto coin. If you intend to use a Bitcoin machine near you to sell your crypto, you need a wallet to do so. Outside of a Bitcoin ATM, a wallet will provide safe storage for your Bitcoin at all times. With a wallet kept in your phone, you’ll always have access to your coin and no one else will. Find a crypto wallet that’s reputable and easy to use.
At the Lowest Fees Possible
The discussion around how to sell Bitcoin in 2021 is based on security. In addition, fees are also a popular topic. No matter what method you use to buy or sell cryptocurrency, you pay a transaction fee. However, the fee isn’t regulated. There is no maximum cap on the fee. Different companies might structure what’s owed differently.
When learning how to sell Bitcoin, try your best to pay as little as possible in fees. With enough research, fee minimization can become a science that significantly affects your profit yields. It may be worthwhile to find low-fee Bitcoin ATMs near you.
What You Are Selling Bitcoin For
Some people sell Bitcoin to make a credit card payment. Other people just want to trade in for fiat currency, getting the funds deposited in their PayPal or wired to their bank. If you prefer having the money wired to your bank, there will be paperwork involved and a few days of delay is expected.
A lot of people purely want the cash. If so, find a Bitcoin machine like Bitcoin4U. With a Bitcoin ATM, you can essentially sell Bitcoin and withdraw money instantly. The transactions at a Bitcoin ATM are undocumented and totally private as a cash transaction.
Common and Popular Online Exchanges
Online exchanges are easy to get involved with. You simply download an app, register an account, and connect your Bitcoin to it. Afterwards, you can sell your cryptocurrency then and there.
Exchanges vary in legitimacy, from those new to the game and those already popular. Find a famous exchange with longevity and a trustworthy reputation. Several brand names in Canada, the United States, and North America can be trusted. These portals make it easy to trade and sell Bitcoin safely and conveniently.
Can I Sell Other Crypto Coin in the Same Way?
Bitcoin is still problematic for many financial institutions. The lack of regulation concerns a lot of stakeholders in the banking industry. At the same time, cryptocurrency like Bitcoin is becoming more accepted by the mainstream, as it becomes easier to sell than ever before.
So long as your online exchange or Bitcoin machine deals in a specific crypto coin, you can sell it. Nothing is keeping you to a particular online exchange, trading platform, or crypto ATM. If you sell through one method and have a bad experience, move your cryptocurrency into your wallet and try another method of buying or selling.