How to Sell Your Bitcoin

Buy And Sell Crypto For Profit

Using P2P platform is the easiest way to sell Bitcoins.

There are several growing places that you can sell Bitcoin, and only difference is the fees that they charged respectively.

That’s to say, they’re not all created equal.

In this guide, I’ve crafted how you can sell BTC, so just follow through and you’ll be able to sell of your investment for cash.

Let’s get started.

Shall we…?

How to sell Bitcoin

To make this guide simple, I will use Binance crypto exchange to guide you on the entire process.

  1. Visit Binance
  2. Login or sign-up
  3. Create a Bitcoin wallet
  4. Transfer BTC to exchange wallet
  5. Go to your spot wallet on Binance
  6. Transfer the coin to the P2P wallet
  7. Choose from list of Bitcoin buyers
  8. Open trade on desired amount
  9. Buyer pays through preferred payment method
  10. Confirm that you received the money.

Congratulations… you have successfully sold your cryptocurrency for the first time on Binance!

Where to sell Bitcoin UK

These are the best places to sell Bitcoin, and you don’t have to worry about loosing your money.

1. Binance (Recommended)

Binance Exchange

Binance is a crypto exchange founded in 2017 with a strong focus on exchanging Bitcoin against other cryptocurrencies.

It offers nearly all crypto pairs between different altcoins.

Note: Recently, it now does offer some fiat currency withdrawals, but most of the pairs are between cryptocurrencies.

ProsCons
Lower fees exchange among other commonly used platformsGeared for more advanced users.
Large variety of different cryptocurrencies
It is one of the most trusted exchange worldwide.

Sell Bitcoin on Binance

2. LocalBitcoins

Localbitcoins

LocalBitcoins is an escrow service, which helps to match buyers and sellers for exchanging Bitcoin person-to-person.

Buying BTC via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and private ways in many countries.

To learn more about this Person-to-Person marketplace works, you should read my LocalBitcoins comprehensive review.

Pros

  • Can be private, fast and easy
  • In-person trades require no personal information
  • Purchases of bitcoin can be made quickly via cash deposit.

Cons

  • Users risks the possibility of being scammed
  • Harder to buy large amounts of Bitcoins compared to other exchanges
  • Slightly higher prices than regular exchanges; premium for higher privacy.

Sell BTC on LocalBitcoins

3. LocalCryptos

Localcryptos

LocalCryptos is a P2P (Peer-to-Peer) marketplace, where people buy and sell crypto to each other.

This platform is similar to LocalBitcoins, but a non-custodial P2P exchange.

People can transaction on Bitcoin, Ethereum, Litecoin, Dash and USDT crypto on their terms, using any payment method.

There are more than 40 payment methods accepted.

Unlike other P2P marketplaces, LocalCryptos keeps you in charge (i.e. you are totally in charge of your cryptocurrency).

LocalCryptos takes a different approach (i.e. They cut a platform risk by putting you in control of your wallet keys).

When exchanging crypto-coins, only you know your private key – they never take custody of your investment.

ProsCons
Highly securedBuyers and sellers are at risk of being scammed
Supports multiple coinsLimited number of cryptos.
You’re in custody of your keys
Simple user interface (UI)
Wide variety of sellers
Buyers get their crypto-coins fast
Supports several payment methods
Available in every country of the world.

Sell BTC on LocalCryptos

4. Bitcoin ATMs

Bitcoin Atm Step 7

Bitcoin ATMs are machines that spew out cash as you send BTC to it, and it’s not all of them that allow this kind of transactions.

These ATMs have a restricted limit on how much you can withdraw, but for a small amount this may be a good option of making BTC withdrawals.

You can find Bitcoin ATM using a specific map designed to locate the machines.

If you choose this option to sell your Bitcoins, then you should read my guide on how to withdraw cash using Bitcoin ATM.

Frequently Asked Questions

Yes it’s possible, but that is one of the risky ways to sell your cryptocurrency online, because you can easily get scammed by someone.

There are cheap crypto exchanges with lower fees, but you can still read my guide on how to reduce transaction fees.

Sell Bitcoin for cash

If you are searching for some other places aside the ones listed here, then you should check-out my list of reliable exchanges.

Consider getting a hardware wallet if you don’t already, and recommend Ledger Nano X due to its features and security.

It supports all of the most popular crypto-coins, including Bitcoin (BTC), Ethereum (ETH), Monero (XMR), Dash (DASH), ERC-20 tokens and more.

I am The 'Staunch

I am The 'Staunch

I founded The Crypto Staunch, so you'll learn the steps to become a successful cryptopreneur. Let's connect when you consult me for professional advice (all from my personal experiences and guidelines).