The world of Bitcoin is not new and there are some steps to consider when it comes to its selling quotient.
Moving on with the cryptocurrency news will actually help you to understand the current standing and what you can expect in the near future. Learn more about Big Money Rush App by clicking here.
It is important to know more about the ways you get to sell your Bitcoins and turn them into cash to be used as secondary purposes. So, to be on the safer side, it is important to focus on the selling guide or tips right now. Read till the end of the article to know more.
Selling Bitcoin on the Binance’s Buy And Sell cryptocurrency page:
The Binance Cash Gateway is a platform that allows users to easily sell their bitcoin and convert it into cash. The platform is designed to be secure and user-friendly, making it an ideal choice for those who want a streamlined way to sell their bitcoin and turn it into cash.
Whether you are looking to cash out a small amount of bitcoin or a large amount, the Binance Cash Gateway provides a simple and convenient way to get the job done.
Using the power of P2P trading for converting Bitcoin into cash:
As mentioned you can also sell Bitcoin to all the other Binance users for the local fiat currency. There are different types of Bitcoin listings for you to follow in order to get the best offers on Bitcoin from some of the other users.
In order to place that order you need, you have to first place the Bitcoin within the P2P wallet portion of your said account.
The basic step to follow:
Apart from the points mentioned above, there are some basic steps to follow in order to sell your Bitcoins. Let’s focus on those steps right now.
- Setting up an exchange account:
Using the power of the exchange platform will help in turning Bitcoin into hard cash. These platforms will act as middleman for the decentralized cryptocurrency by selling out the Bitcoin on your behalf. Coinbase happens to be the most well-established exchanges of modern times.
Signing up over here is simple but there you have some hoops to focus on. Depending on the country you are in, you need to comply with the KYC rules.
It takes few days to process. Once you have successfully created your account, link your bank account to it for helping you out with the trade.
- Transfer Bitcoin to exchange wallet:
You might have stored Bitcoin in a secured manner to a wallet. For trading over here, you need to send Bitcoin to an exchange wallet and keep it there up for sale. The wallet works automatically with the Coinbase trades.
- Finally place your order:
After setting up the exchange account and linking up your bank details, it is time to opt for the final sale stage. The latest version of the exchange platform makes this service rather simple.
Once you are done navigating to the “Sell” option, you will then need to select Bitcoin to be your currency and ensure that the right selling destination has been selected, where you want the funds to get deposited.
Once you have bridged the gap between the Bitcoin exchange platform and your bank account, you can opt for direct transfer too.
Making the task a lot easier than before:
The value of cryptocurrency exchange is hard to ignore when it comes to selling Bitcoins. It needs you to sign up for an account, verify your current identity and then transfer cryptocurrency to the exchange for selling.
- The cryptocurrency exchanges will make it a lot simpler and easier to follow.
- Now you get the chance to place a sell order at current market price, and also keep a watch on the fees. Some might charge around 3%, if not more!
In case you are willing to control your Bitcoin sale a bit much, then there are some limit orders to set the selling price at and the power to create various sell orders. There you have monthly or daily withdrawal limits to follow as well!