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Last updated: August 18, 2019 11:05 PM


At present, practically all the methods available to buy bitcoins also offer the option to sell.

The exception is bitcoin ATMs; Some allow you to exchange bitcoin for cash, but not all. Coinatmradar will guiding you to bitcoin ATMs in your region.

All exchanges allow you to sell and buy. The type of exchange you choose to sell your bitcoin will depend on what type of holder it is: small investor, institutional owner or trader.

Some platforms such as GDAX and Gemini are aimed more at large orders from investors and institutional traders.

Retail customers can sell bitcoins in exchanges such as Coinbase, Kraken, Bitstamp, Poloniex, etc. Every exchange has a different interface and some offer related services, such as secure storage. Some require verified identification for all trades, while others are more relaxed if they are small amounts.

(Of course, do not forget to declare any profit you make in the sale to the corresponding tax authority!)

You can, if you wish, exchange your bitcoin for other crypto assets instead of cash. Some exchanges like ShapeShift focus on this service, which allows you to switch between bitcoin and ether, litecoin, XRP, dash and several others.

Another alternative is direct selling. You can register as a seller on platforms such as LocalBitcoins, BitQuick, Bittylicious and BitBargain, and interested parties will contact you if they like their price. Transactions are generally made through deposits or transfers to your bank account, after which you are expected to transfer the agreed amount of bitcoin to the specified address.

Or, you can sell directly to family and friends once they have a Bitcoin wallet set up. Simply send the bitcoin, collect cash or mobile payment, and have a celebration drink together. (Note: It is generally not a good idea to meet with strangers to exchange bitcoin for cash in person. Be sure.)

(Note: the specific companies mentioned here are not the only options available, and should not be taken as a recommendation).

Graph image via Shutterstock.

Article Source: http://www.coindesk.com