Aug 19, · Here’s how to sell Bitcoins for PayPal on LocalBitcoins: Open a LocalBitcoins account Go to “Sell Bitcoins” Choose a country – since you’re not meeting in person it doesn’t really matter which country you choose so personally Choose “PayPal” as the payment method Select a buyer. There are different ways by which you can trade bitcoin to make profit. The same way shares are purchased at low prices and sold when there has been a tangible increase in price, is also applicable in trading bitcoins. For you to start trading, you will need open a bitcoin wallet where you can store any bitcoin you purchase. Earn $10 when you buy or sell $ or more of bitcoins, Ether or Litecoin. The commission for selling is %; You can send money to your bank account (% commission) Allows us to sell and send the money to our PayPal account (% commission) LocalBitcoins.
Sell bitcoins for profitHow to Sell Bitcoin | Digital Trends
Once your account is created, link your bank account so that when you have made your trade, you can get cash out with as little hassle as possible. Beginners can always use the Coinbase Wallet app , which connects the wallet super simple, as it automatically works with Coinbase trades. The Coinbase Wallet also has a few other handy features, including paying merchants directly from the wallet if they are part of the Coinbase Commerce program.
However, if you prefer to use another digital wallet, head to its settings, and look for ways to connect to a currency exchange.
You should be able to input your Coinbase login on the most popular digital wallets and start an authentication process to connect it. The latest version of Coinbase makes this very easy. Choose Bitcoin as your currency of choice, and make sure the right destination is selected for your funds in the Deposit To section.
If you have a bank account connected to your account, you will be able to select it here for a direct transfer. Check your connected wallet to see how much Bitcoin you have, and choose the amount you want to sell.
In , Coinbase raised its default limits for trading and started allowing people to trade their cryptocurrency immediately after buying it, which is one reason we are fans of the service.
You can see your weekly bank limit in the same section. Finally, choose if you want to repeat this sale, and if so, at what frequency.
Then select Sell Bitcoin. There will be a short holding period before the sale is complete. Bitcoin has been going through a long period of devaluation and corrections lately , intermixed with slight recoveries.
Some serious research may be required to decide when the best time to sell is for you. In exchanges, Bitcoin automates trades between the two parties, but there is a different protocol for selling.
When you sell, the transaction occurs directly between seller and buyer. You set up a sell order for a specific value, and when someone comes along looking to buy at the agreed-upon price, the site will alert you that you can move ahead with the transaction. When both parties agree on the terms, you first receive payment from the buyer, and subsequently, you send the buyer the cryptocurrency. The actual method of conducting the payment will very much depend on which platform you make the trade through.
But there are different types of exchanges as well. Each platform has its own selling process. In most cases, and if you are using a fully regulated exchange, you will first need to go through a verification process before you are able to make a transaction.
This is important as, when you are wondering how to buy and sell bitcoin for a profit, you need to remember that you are still part of society and thus have certain limitations and tax obligations. Bitcoin ATMs grew in popularity during the latest bull market when non-tech-savvy individuals used them to acquire their first coins. There are many platforms that help users cash out Bitcoin without using traditional exchange solutions. These platforms are known as escrow services, and connect two individual users with each other, acting as the third party that controls the success of the trade.
Here is how the process works:. This peer-to-peer P2P exchange is the most popular and safest option available. Another thing you should keep in mind is that P2P platforms offer the ability to meet people in real life to conduct a trade. Trading in real life could result in theft, loss of funds, or even worse. On the other hand, meeting people in real life is the most anonymous way to conduct transactions, as there will be no third-party overviewing your transactions and you are able to change the size of the trade at any time.
High Demand — Bitcoin is has a high demand on the market for cryptocurrency making it liquid enough to sell at any moment. Staying Power — Bitcoin has been the 1 cryptocurrency since its beginning and is, therefore, a great way to earn and lock investment-related profits.
Volatility — Profit from wild swings in prices by planning ahead and crafting your trading skills. This is a risky practice so make sure you educate yourself before taking the leap. Sit on the sidelines temporarily — If the market is experiencing large amounts of fluctuation, it might be best to sell Bitcoin for FIAT and wait for a confirmation to re-enter. Selling assets with high potential during positive market conditions is a practice you should avoid, especially if you do not directly need the money at the time of this writing.
Sell based on logic, and avoid making decisions when feeling emotionally unstable. Bitcoin has the potential to see a large appreciation in value over the next few months, and it would therefore be smart to wait and see how the market behaves.
If, however, you really need to make a sale, try to avoid options that will cost you a lot in fees. Or do you send bitcoin from exchanges to Coinbase and sell from there? Save my name, email, and website in this browser for the next time I comment. How to sell Bitcoin and profit: The ultimate guide There is no one best way to sell Bitcoin.
In short, here are the different methods we will talk about: Cash-out through cryptocurrency exchanges Use a Bitcoin ATM Exchange Bitcoin in a peer-to-peer fashion Make a transaction within your wallet How to sell Bitcoin through a crypto exchange Bitcoin can be sold on exchanges or markets for cryptocurrency , or peer to peer or even one on one in real life.
Brokerage services: Exchange like Coinbase do not connect two different parties to make an equal trade. Instead, they are your counter-trader. This is, by far, the fastest way to cash out Bitcoin depending on your payout option. Trading platforms: Exchanges like Binance or Huobi are more commonly known as trading platforms.
They connect users within the platform to exchange cryptocurrency in real-time.