If you purchased Bitcoin at one time or the other, the next logical step is to store it, use it for a transaction or sell Bitcoin. There are several ways you can sell bitcoin such as through exchange platforms, in person or making use of a Bitcoin ATM. There are regulations concerning the sale of bitcoin in countries such as India. And it is important to take note of the fees, price, ease of use, security and privacy when selling bitcoin.
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Using an Exchange Platform to Sell Bitcoin
On exchange platforms, you have to reveal your identity as well as a pay a transaction fee. So the platform can take care of selling the bitcoin on your behalf. With exchange platforms, you do not need to have direct contact with the buyer.
Making Use of Peer-to-peer Platforms to Sell Bitcoin
On this platform, identification is also required and you will need to source for a buyer to sell your bitcoin to by yourself. Localbitcoins.com is a type of peer-to-peer platform that sources for these buyers for you and determines the method of payment most appropriate. If you want to sell your bitcoin directly to a buyer, these platforms can help you find the buyer fast. The bitcoin prices, however, are lower when using this platform than on the exchange platform.
Direct Sale of Bitcoin
Selling bitcoin for cash face to face is a dilemma if you want to remain anonymous. However, there are several platforms that can make this possible such as the peer-to-peer platform. These platforms help you to know the level of trustworthiness of the buyer and if it is safe to meet for the transaction. The sale of the bitcoin is carried out by simply scanning a QR-code on your phone and taking the cash once the transaction is complete.
Use of Bitcoin ATM
You can make use of coinatmradar.com to find out if there is any Bitcoin ATM within your proximity. You can exchange the bitcoin for cash in this ATM. But the fee is relatively expensive compared to the other ways of selling bitcoin.