How to Buy and Sell Bitcoin Faster
Investing in cryptocurrencies, require wisdom to know how to buy Bitcoin as well how to sell it.
Digital Trends is not limited to giving out investment advice but also technical fundamentals knowledge in knowing how to sell Bitcoin.
There are different ways to go about it, selling Bitcoin but it all depends on the seller weather you want an upgrade. Below are steps to take to sell your Bitcoin fast and easily.
1: Set up an exchange account
Selling on Coinbase
The simplest and most “automated” way to turn your Bitcoin into hard cash is through an exchange platform. Here the platform expose you to individual who can support and direct you and you are expected to have a middleman for the famously decentralized cryptocurrency by selling your Bitcoin for you. .
Signing up for an account at Coinbase is easy, but there are some hoops you’ll have to jump through. Depending on which country you’re in, you will have to comply with different forms of “know your customer” rules, meaning sending the site certain ID forms. That can take a few days to process. Signing up for Coinbase Pro is also recommended, though not strictly necessary, to give you greater control over your sale.
When account is ready you, link your bank account so that when you have made your trade, you can get cash out with as little hassle as possible.
2: Transfer your Bitcoin to your exchange wallet
If you followed our guide on buying Bitcoin, you must have stored your Bitcoin in a secure place.To trade on Coinbase, one need to send his/her Bitcoin to an exchange wallet and keep it there, ready for sale.
New investors can always use the Coinbase Wallet app, which connects the wallet in a super simple way, as it automatically works with Coinbase trades.
3: Place a sell order
With your exchange account set up, your bank account linked, and your Bitcoin deposited on the exchange, you can actually make a sale. The latest version of Coinbase makes this very easy. Select Buy/Sell from the top menu and move to the Sell section. 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.
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Credit: Jon Martindale