Can you buy and sell bitcoin fast

Bitcoin Blockchain is decentralized and the interactions are managed on the peer-to-peer level or individual basis in regards to mining. Every transaction is publicly visible once it’s inscribed and published in the blockchain. At a minimum, you need specialized software, a sophisticated hardware rig to run it and a considerable amount of electricity to power the whole thing.

Ask an Expert

Whether you have just recently purchased your first bitcoin or you are only now looking into doing so, you probably have a ton of questions involving bitcoin conversions and how you can buy and sell cryptocurrencies. Of course, like all other cryptocurrency transactions, the way to do it is not immediately obvious if you are a newcomer. It is hard to go wrong with this site. It is one of the most popular sites on the web for the buying and selling of bitcoin between everyday ordinary people. Currently, you can use LocalBitcoins in any of 15, cities in countries. The company has stated that there are around 1. So if you are in the market to sell, there are plenty of folks in the market to buy.

Credit/Debit Card Bitcoin Exchanges

Check your account number before we start exchange. You can also choose from our available packages:. Sell Now. Some countries have already given the official status to BTC. So, it is already possible to pay with virtual coins in cafes and restaurants, pay rent and even utilities in Belarus, the USA, Canada, Japan and other countries.

Can I play the bitcoin market without buying bitcoin?

Last updated: 15 February Go to Bitbuy’s website This is our quick guide to just one way to sell bitcoin. Compare some other options in the table. For many people, the main aim when selling bitcoin will be to cash out for CAD, so you can find instructions on how to do that.

However, not all of them allow you to exchange your BTC for fiat currency, and an even smaller amount allow you to cash out to CAD. That said, there are a growing number of exchanges that do, so compare the features of a few to find a platform that meets your needs.

You can then sign up for bug account by providing your email address and creating a password. Of course, make sure you bitfoin a moment to review the full details of the transaction before submitting it. If you bitcooin to sell your bitcoin on the exchange where you initially purchased it, skip ahead to step 2.

When you gitcoin one that suits your needs, enter your email address and create a password to sign up for an account. Once the coins have arrived in your account, navigate your way to the trading section of your chosen platform. Find the currency pair you want to trade and then enter the full details of your sale. While you can keep your new crypto in your exchange wallet if you plan on making regular trades, the security risks associated with exchanges mean this is risky and not recommended for long-term holding.

With this in mind, find a crypto wallet that supports your new digital currency and allows you to control your private key. Create your wallet, find its deposit address and andd transfer your crypto from the exchange into bitcin wallet. Select the currency you want to transfer, specify your withdrawal amount and then enter your wallet address. Your new cryptocurrency will then be fas to your private cab for safe storage. The transaction limits on these exchanges may also be too low for your needs, so anyone looking to sell a large amount of bitcoin should consider an over-the-counter Jou trade.

OTC trades are those that take place away from a conventional, regulated exchange, and they selk a simpler and more cost-effective way to buy and sell large amounts of bitcoin. Check out our OTC cryptocurrency trading guide for more info on how this type of trading works.

You can do this by asking yourself a few important questions:. This should help you decide how you want to sell your bitcoin, and you can then figure out selll platform has all the features you need. When comparing your options, make sure you consider:.

There are several other important features to consider, such as where an exchange is regulated and the payment methods accepted by peer-to-peer trading sites, so check out our cryptocurrency exchange guide for more tips on how to choose the right platform. Compare ways to sell bitcoin. The step-by-step guides above take you through the process of selling bitcoin on an exchange.

Selling on a cryptocurrency exchange Why might qnd choose this option? Pros: Convenient, quick and easy, allows you to exchange BTC for fiat or a huge range of cryptocurrencies Cons: Withdrawal fees can sometimes be steep, ID verification process can cause delays This is the most popular option for anyone looking to sell bitcoin. Exchanges ssll as an intermediary — which means both you and the buyer will need to entrust your funds to your preferred platform, and that exchange will impose trading fees to take a cut of each transaction.

Using an exchange means you have the option to either turn your bitcoin into CAD and withdraw the funds to your bank account, or exchange your BTC for just about any other cryptocurrency in existence. Selling through a peer-to-peer platform Why might you choose this option? If you want to set your own price and enjoy greater control over the sale process. Pros: Could help you bitcooin a better price, provides you with more flexibility and control over the sale process, may offer increased privacy Cons: Can take time to find a buyer, risk of fraud when dealing with private buyers Peer-to-peer trades, which are sometimes also referred to as direct trades, offer the option of selling your bitcoin to another person.

Online peer-to-peer marketplaces gou you more freedom and control over the specifics of the transaction — you can set your price, nominate how you want to receive payment, and then wait for the right buyer to come. For yiu, while some platforms only accept online bank transfers, sites like LocalBitcoins accept everything from cash and credit cards snd PayPal and Western Union transfers. The registration process varies from platform to platform, but some peer-to-peer marketplaces allow you to trade with a certain level of anonymity.

Selling via a bitcoin ATM Why might you choose this option? If you want a quick and easy way to turn your bitcoin into cold, hard cash. Pros: Quick and easy, a fast way to cash out your bitcoin dan you need fiat currency Cons: Bitcoin Bbuy particularly those that let you sell BTC ajd be difficult to find, and have high transaction fees Bitcoin ATMs allow you to deposit cash and convert it to bitcoin.

However, some of these ATMs also allow you to transact in the opposite direction — in other words, gitcoin your BTC balance into fiat currency so you can withdraw cash.

The main advantage of this approach is that it offers fast access to cash, providing an instant way to turn your digital coins into real-world money. Selling in person Why might you choose this option? Pros: Dealing bitcion means there are no middleman fees, you can negotiate the price you want Cons: Very risky if dealing with a stranger, more time-consuming than selling online Want to sell some BTC to a friend or family member?

If they already have a bitcoin wallet set up, the process is easy. All you have to do is scan their wallet QR code or copy its address, transfer them the BTC, and either accept payment from them in cash or as a bank transfer. However, you may also be considering selling your bitcoin to a random person, perhaps someone who contacted you through a peer-to-peer marketplace or who you arranged to meet via an online forum.

Taking normal safety precautions, such as arranging to meet in a public place, is yoi a. The final step is to withdraw the proceeds of your sale into either your bank account or your cryptocurrency wallet.

Options may include:. Storing your cryptocurrency on an exchange for the vuy is not recommended. Exchanges control the private keys to these wallets and are also popular targets for hackers, so the safest option is to transfer your crypto into a secure wallet which lets you retain ownership of your private keys.

Once again, check whether there are any limits on the amount of crypto you can yyou per-transaction or in any hour period. Analyze the market carefully to decide whether you want to sell or hold.

Our guide to cryptocurrency technical analysis is a useful tool to help you better understand and read the crypto market. Coinbase only offers buy services to Canadian users. Can I sell bitcoin for another crypto within my wallet? Yes, some multi-currency wallets such as Coinomi and Jaxx come with an in-built exchange service that allows you to quickly swap bitcoin yiu another crypto within your wallet.

How should I set my price if selling bitcoin on a peer-to-peer marketplace? Look at the current sell offers listed on your chosen platform to get an idea of the average price. Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks — they are highly volatile and sensitive to secondary activity.

Cab is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.

You should also verify the nature of any product or service including its legal status and relevant regulatory requirements and consult the relevant Regulators’ websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Daily cryptocurrency news digest and breaking news delivered to your inbox. Don’t miss out! Andrew Munro is the global cryptocurrency editor at Finder. After previously writing about bitcooin and other areas, he now covers the latest developments in digital assets and blockchain and works on Finder’s comprehensive range of guides to help butcoin understand cryptocurrency. Click here to cancel reply.

You must be logged in to post a comment. Optional, only if you want us to follow up with you. Our goal is to create the vast possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. While we are independent, the offers that appear on this site are from companies from which finder. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site.

While compensation arrangements may affect the order, position or placement of product information, it doesn’t influence our assessment biycoin those products. Please don’t interpret the order in which products appear on our Site as any endorsement or recommendation from us.

Please appreciate that there may be other options available to you than the products, providers or services covered by our service. Navigate Cryptocurrency Cryptocurrency What is cryptocurrency? Where to buy cryptocurrency Cryptocurrency wallets What is the blockchain? IO A-Z list of exchanges. How to sell bitcoin A simple guide to cashing out your bitcoin for Annd dollars or another cryptocurrency. Andrew Munro. Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering.

It is not a recommendation to trade. Quick guide: How to sell bitcoin in Canada Register for an account with an exchange that allows you to sell bitcoin like BitBuy. Find your BitBuy Bitcoin wallet address.

Transfer bitccoin Bitcoin to your BitBuy wallet address. Go to the Bitcoin section and select sell Bitcoin. Enter the amount you want to sell and check the price. Check the transaction details can you buy and sell bitcoin fast confirm the sale if everything is in order. Withdraw funds from BitBuy to cah bank account. Go to site View details. Coinberry Cryptocurrency Exchange.

Buy cryptocurrency with CAD on this beginner-friendly Canadian exchange through credit card, wire transfer and several other payment options. Kraken Cryptocurrency Exchange. Buy, fsat and trade a range of digital currencies on this high-liquidity exchange — suitable for beginners right through to advanced traders. UK residents: In addition to normal crypto trading, Kraken offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you selo to use this service.

Five Easy Ways to Turn Bitcoin Into Cash Money – Selling Bitcoin For Cash

Payment processors like Visa, Mastercard and American Express charge at least 2. The safety factor is underpinned d y the fact that the machines operate under KYC regulations as per the jurisdiction of operation. There are frequent outages that can make it difficult or impossible to buy — and, perhaps more frustratingly, sell — and there is no shortage of customers, investors and speculators with nightmare stories to tell. Yes, it is possible to buy less than one bitcoin. Be respectful, keep it civil and stay on topic. This means that the BTC can be bought in the Virtual world mainly for speculative purposes. Coinbase, for example, allows you to buy litecoins and Uou with credit card. Coinmama is only available in some US states; please anr this page for details. Yyou may receive compensation when you use Bitpanda. You can do the bitcoin thing without owning it outright.