Simple Ways To Sell Your Bitcoins For Cash

Satoshis secret 728x90

money transfer

You’ve spent your time researching and earning bitcoins, and now you’re ready to turn them into real money. The good news is it’s easier than you might realize to sell your bitcoins for cash. There are two ways you can do so, and the obvious way is to sell them online. You can, however, conduct sales in person should you choose to do so. Both come with their respective pros and cons, which we’ll take a quick look at.

Direct Trade

Trading online is the safest option you have when you’re looking to sell your bitcoins. By keeping your sales online, you don’t face the risk of being robbed. The most popular way of making an exchange is called a direct trade. . Sites like Coinbase.com and LocalBitcoins.com (or BitBargain.co.uk for UK residents) connect buyers with sellers, and trades are made through the website’s trading platform. Since you’re looking to sell your bitcoins, you’ll need to register as a seller, which means you’ll need to verify your identity (this is in case a crime is being committed). From there, it’s as simple as setting up an offer and waiting to be alerted of anyone looking to buy your bitcoins.

Exchange Services

Another method for selling your bitcoins is through an exchange site. This operates exactly like the stock market. Buyers and sellers gather in a central area placing orders for purchases and sales. Exchange services complete your bitcoin trades for you, so it’s not as involved as dealing directly with buyers and sellers. The unfortunate truth is, exchange sites have recently been plagued with problems, including Mt.Gox which filed for bankruptcy in Japan. Thousands of bitcoins were lost. Not to mention these services charge a fee. For this reason, we feel we shouldn’t provide links under false pretenses. If you wish to use this type of service, we urge you to conduct extensive research before sending any of your bitcoins through the platform.

Buy Bitcoin Using Amazon

One platform, Purse.io, is receiving a lot of praise for its “revolutionary” new platform, which actually favors bitcoin sellers. With this method, you aren’t actually receiving cash for your bitcoins. You’re receiving goods from sites like Amazon.com at a discounted price. It’s a little confusing at first, but basically, you create a wishlist on Amazon.com and place that wishlist on Purse. You choose how much you want to save on your items (usually up to 25%) and wait for a buyer looking to buy bitcoins in an amount matching your purchase amount. That buyer will buy the items on your wishlist (which are delivered to your address without them ever knowing it). Once the items have been bought, you simply notify the website and all funds are released to the buyer, minus a fee for the website and the discount you asked for. This website is fantastic for sellers like yourself, but terrible for buyers since the fees are astronomical.

Related: Solo Mining or How to Mine Bitcoins by Yourself

Bitcoin Exchange in Person

The next option you have, and the one we don’t personally feel you should use, is to exchange your bitcoins in person. LocalBitCoins.com, a site we mentioned earlier, connects you as a seller to buyers in your area. This means you’ll have to conduct some type of exchange in person. This can be extremely dangerous to you as a seller. You can be robbed, scammed or even worse. Always be sure to meet in a public place and to have someone with you. We highly recommend that you stick to exchanging your bitcoins online and refuse to meet with anyone in person.

Selling your bitcoins for cash doesn’t have to be a complicated process. There are numerous options available to you as a seller, most of which are safe and reliable. More and more retailers are beginning to accept bitcoins as well, meaning you’ll have more opportunities to turn your bitcoins into real world goods.

For now, though, you should look into using online services like Coinbase.com or BitBargain.co.uk to cash in on your stockpile.

Betchain: one of the best casinos in the world!

If you are looking for a bitcoin gambling site that has both sports betting and casino games on a highly secure site, you should try Betchain! Website is nicely designed and works perfectly. The all round high quality of operation and customer experience make Betchain one of leaders in the bitcoin gambling industry. Have some fun and find out for yourself!


1 Star2 Stars3 Stars4 Stars5 Stars (34 votes, average: 4.40 out of 5)
Loading...Loading...