4 Secure Ways to Sell Your Cryptocurrency

Are you ready to dive into the world of cryptocurrency? Bitcoin, also a form of cryptocurrency, is the most omnipresent digital currency in the world of investments. Statistics show that the worldwide user base of the famous cryptocurrencies has soared by 190% in 2018 and 2020, accelerating further in 2021.

If you are one of those who have invested a handsome amount in bitcoin and want to cash out your digital money, or because you may believe that it may crash in the future, the following are the 4 helpful yet secure ways to sell your bitcoin currency.

• Get a Cryptocurrency Wallet

Unlike other forms of investments that take physical possession, digital currencies require a digital space to store them such as a cryptocurrency wallet. They not only store but are also functional in buying, trading, and selling cryptocurrencies. Crypto wallets come in either software like Guarda Wallet or hardware like Ledger Nano S.

One thing to ensure is that each cryptocurrency demands a different type of wallet for each of its own. If you are thinking of financing further in trading, make sure to have a cryptocurrency wallet that accommodates various currencies in one.

• Bitcoin ATMs

Even though Bitcoin ATMs may look particularly like the traditional ones, the many differences set them apart. Rather than connecting the user to their bank account, Bitcoin ATMs connect users to the internet to streamline their transactions online.

Bitcoin ATM allows you to scan your wallet QR code for verification and give out cash in exchange. Some ATMs only allow you to buy bitcoins and not sell them. Some won’t even ask for verification. However, this method charges high transaction fees as compared to other methods available.

• Face-to-face Transactions

Face-to-face transactions are another way to sell bitcoins. Through the use of online platforms like LocalBitcoins and Paxful, you can easily cash out your cryptocurrency.

However, there must be extra precautionary measures you have to take for your own safety.

The process proceeds by verifying your identity and connecting your bank account. Once you have successfully connected, you can then sell your currency to the specified bitcoin address and later receive cash in your bank account.

• P2P Transactions

P2P cryptocurrency exchanges are exchanges that happen without the involvement of a third party. This happens by creating a listing on an online marketplace where your items can be sold in exchange for cash. This is rather a hassle-free method that does not require extensive verification.

However, posting such listings is never always free and comes with fees when selling types of currencies.

Wind Up

The biggest question is not how to sell Bitcoins but when to sell them. You need to prove yourself in the market before you can do some experimenting. If you are fairly new to cryptocurrency, there is a lot to learn. Above are 4 of the safest and most secure ways to sell Bitcoin.

Ensure you keep your personal information private and secure. Revealing any details may damage all that you own. If you are choosing face-to-face transactions, always use a public space for your meet-ups. Establish trust for future proposals and needs.