Selling Bitcoin for the first time can be a thrilling experience, regardless of the reason to sell. Most beginners do not know how it will go, but the best thing to do is prepare adequately for the transaction.
There are many options for making a Bitcoin cash out, which you should choose carefully. This article will guide you on how to go about this to make the process as smooth as possible.
Decide on a Reliable Platform
If you want to sell Bitcoin for cash or any other cryptocurrency, it all starts with choosing a reputable platform. Ensure that it is convenient, secure, and affordable, especially if this is your first time.
Luckily, many reliable Bitcoin exchange platforms, such as physical crypto offices and ATMs, online CEX and DEX, and even banks, may help you. Whichever you choose will depend on your needs, but it is highly recommended that you try physical options as a first-timer.
Prepare Your Bitcoin Wallet and Bank Account
Before attempting the transaction, make sure that your Bitcoin wallet is ready and working. You will need it to sell Bitcoins for cash, regardless of the platform you use.
On the other hand, prepare a secure bank account (some people use mobile money folders) to keep cash. However, you can also withdraw hard cash from many physical Bitcoin outlets.
So, how do you sell Bitcoin for cash? If this is your concern, now you know that getting ready is vital.
Get a Trading Account
How do you sell Bitcoin for cash? Many reliable exchanges use customer accounts with verified details. You might be asked to create an account that you will link with your bank account and add the Bitcoin you want to sell from your secure wallet.
The main purpose of such accounts is to keep transactions secure, as opposed to exposing all of your accounts to the unpredictable web during transactions. Surprisingly, some reliable physical offices may ask you to create an account first.
Transfer Bitcoins into the Account
As hinted, you have to transfer the Bitcoin you intend to sell into your created account. This is a good way to control the Bitcoin you intend to sell. From here, just follow the procedure to sell Bitcoin. It is important to check the conversion rate through the provided trading tools. Check the processing commission as well.
For first-timers using assisted services such as physical exchange, the concierge will take you through the process and help you meet all of the requirements. This is simpler and more secure, making it a perfect option for anyone who is wondering: how do you sell Bitcoin for cash?
Withdraw Funds
Once you create a trading account and sell Bitcoin for cash, the money will still remain in the account. In most cases, you have to transfer the money into a preferred accessible account, such as a bank account. It is a few-step process that anyone can do. If you are lucky, you may have the option to automate the process by linking your bank account to the platform to process the transfer automatically.
On the other hand, using a physical Bitcoin office or BTC ATM can make a major difference by dispensing cash. This is a good option for a newbie who just wants to become liquid immediately. Make your decisions well to enjoy the experience if you are wondering: How do you sell Bitcoin for cash?
Final Thoughts
How do you sell Bitcoin for cash? As you can see, there are a couple of options, although the process looks and feels almost the same. Choose well depending on the convenience you want, security, and affordability. With these insights, there is nothing to stop you, even if you are doing it for the very first time.