The buyer transferred the funds into my HSBC bank account; I released the coins. When my girlfriend became pregnant I decided to sell my bitcoins to decorate a nursery. You put your coins into an escrow account, wait for an offer and, when the buyer has paid by Bacs, you release the coins. The buyers are verified by email, telephone and an official ID. A number of sellers have lost their investments after falling victim to hackers, but in your case it seems the buyers were genuine. I was informed that the larger payment had also been marked fraudulent and all the payments had been taken from me.
How to sell Bitcoin
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Factors to consider when selling
Some exchanges charge a flat rate while others charge a percentage. Look for an exchange that either has no withdrawal fees or charges a low flat rate. In order to do an instant sell, you will have to have previously connected a bank account or withdrawal destination. Instant sales tend to have the highest fees and are made at market price.
- You should take into account trading fees for selling BTC when choosing where to sell as well.
- If the assets are already on an exchange, then skip to step 4.
- A number of sellers have lost their investments after falling victim to hackers, but in your case it seems the buyers were genuine.
- Otherwise, you will need to deposit the coins or tokens on an exchange to sell on the market.
- You put your coins into an escrow account, wait for an offer and, when the buyer has paid by Bacs, you release the coins.
Alterative ways to sell Bitcoin
Confirm details with the provider you’re interested in before making a decision. The easiest sell bitcoin way to cash out your Bitcoin, Bitcoin Cash, Ethereum and other cryptocurrencies.
Sell cryptocurrency quickly and easily
With instant sale options, you are paying for convenience and speed. Generally, you choose how much to sell and where to deposit. You will get a preview of the transaction so you can check the details. Once you’ve confirmed the details, you can finalize the sale. There are a variety of factors to consider when selling BTC. Compare exchanges to find the lowest deposit fees, withdrawal fees and trading fees to maximize the fiat received.
Virtual reality hit when I tried to cash in my bitcoins
Bitcoin is a virtual currency that has become a fount of free cash for fraudsters. To sell your BTC on a P2P marketplace, you simply register, post what you have for sale, how much you want for it and acceptable payment methods. P2P sales are done using arbitrators and escrow and are surprisingly safe to do.
- Some exchanges charge a flat rate while others charge a percentage.
- There are several other important factors, such as where an exchange is regulated and the payment methods accepted by peer-to-peer trading sites.
- P2P sales are done using arbitrators and escrow and are surprisingly safe to do.
- The manager confirmed I’d received the £6,700 and I released the coins.
- To sell your BTC on a P2P marketplace, you simply register, post what you have for sale, how much you want for it and acceptable payment methods.
- Finder, or the author, may have holdings in the cryptocurrencies discussed.