Just like when you buy Bitcoin, you have different options for selling your digital assets.
As mentioned in the previous section, Bitcoin can be purchased directly from cryptocurrency exchanges, Bitcoin ATMs, P2P markets, or traditional brokers. With the exception of some Bitcoin ATMs, you can also sell cryptocurrencies through any of these channels.
By placing a sell order, you can sell Bitcoin on the same exchange or broker where you bought it. As the name implies, a sell order tells a broker (cryptographic exchange) to sell an asset at a specific price.
Bitcoin can also be exchanged or exchanged for other cryptocurrencies or stable currencies (such as ether and tether, respectively). This is useful if you want to make a profit on your Bitcoin investment, or if you want to keep your portfolio from devalued. If you plan to withdraw fiat money equivalent to Bitcoin, you must first place a sell order that prioritizes fiat currency. Once your order is complete, most exchanges allow you to withdraw money directly into your bank account. Please note that most exchanges have a minimum withdrawal amount. This means that if you leave a small balance on your exchange account, you may need to pay more to get the remaining amount.
Read more: How to change the purchase order
In general, Binance, Coinbase, Huobi, FTX and Kraken are examples of exchanges where you can buy and sell Bitcoin. Volume refers to the amount or digital assets traded on the stock exchange at any given time. In large quantities, it means that you are likely to complete the sale at any time.
It’s also worth mentioning that depending on the size of your order and the amount you want to withdraw, you may need to verify your identity in some way. Like traditional financial institutions, many crypto exchanges require the KYC (Know Your Client) procedure. Therefore, to verify your identity, you will need to provide information such as a valid ID card, a utility bill with your home address or social security number.
In addition to crypto exchange and Bitcoin ATM, another alternative is through the peer-to-peer market. In this case, the transaction is direct between you and the buyer. You can register as a seller on platforms such as LocalBitcoins, Paxful and BitQuick.