Bitcoin is one of the most popular cryptocurrencies today all over the world. Although it is a virtual currency trading on the web, some regions have embraced buying and selling Bitcoin more than others, probably because the environment and government regulations are more friendly.
Currently, Bitcoin is selling at $26,375. This is an excellent time to sell Bitcoin for cash if you have been hoarding some. However, you might be wondering what reliable and easy options you have, especially if you have never done it before. If yes, there is no need to fret since this article will cover the best options to do this.
Sell Bitcoin for Cash Through an Ordinary Exchange
Most ordinary exchange platforms operate as CEX or centralized exchange platforms. They provide instant exchanges of cryptocurrencies because they have enough liquidity. While creating an account on a CEX exchange to sell Bitcoin for cash, you need to confirm your identity before you are allowed to sell.
Most CEX platforms are safe, secure, and affordable, so you can rely on them as a first-time Bitcoin seller. However, you will need to withdraw your cash from your CEX platform to your bank.
Sell Bitcoin for Cash Through a P2P Exchange
P2P or peer-to-peer exchanges are also called DEX, which means they are decentralized unlike the CEX platforms. They provide an easy way to sell Bitcoin for cash by connecting buyers and sellers.
Although it can be risky to sell your Bitcoin directly to a buyer you just met on an exchange platform, you can remain secure by using the platform to sell. So, get an account, list your crypto for sale, and wait for a prospective buyer to make a request. You will receive your money in your bank account or through any other agreed upon option.
Sell BTC for Cash Through a Physical Exchange
If you do not want to use either of these two online options, you can quickly sell Bitcoin for cash through a physical outlet. Basically, there are three options in this category, and we will look at each of them.
- Bitcoin ATMs – Do you want to sell Bitcoin for cash easily? If yes, then a Bitcoin ATM is a perfect option. It is an automated machine with a self-service interface where you just scan your Bitcoin wallet QR code and provide a form of payment to transact and receive your money.
- Physical offices – Right now, there are many physical offices that trade cryptocurrencies. They are operated by popular crypto exchange companies to diversify their services. They use concierges to help investors with transactions and advice as well.
- Bitcoin kiosks – These are also simple crypto trading booths with a service person to help with transactions as well. They are best for quick Bitcoin sales because you just have to stand in the open on the outside of the kiosk to sell your Bitcoin for cash.
As time goes on, many options to sell Bitcoin for cash are coming up. Soon, the Bitcoin debit cards will be all over, and then you can withdraw fiat cash from a normal ATM at current exchange rates or use the card to buy goods and services around town. There are also other predicted options that are eagerly awaited, so keep an eye on this.