Every network user who has at least a small supply of cryptocurrency may face the need to exchange Bitcoin for fiat money. In theory, selling Bitcoin is not difficult, but when it comes to actual transactions, problems arise. People do not always know which of the options to give preference to, whether it is worth using one or another method, what are the nuances of cryptocurrency exchange, and so on. Below we will pay attention to the most popular options, each of which has its own pros and cons.

 

What you need to know about Bitcoin?

Bitcoin cryptocurrency was created as a payment tool designed to replace conventional money when performing transactions on the network. And the developers have fully succeeded in their plans. The new money has many benefits:

- Confidentiality of transactions. Information about the sender and the recipient is not disclosed and is not available to the state, tax authorities or banks.

- No inflation. Cryptocurrency is not afraid of rising prices in real life, because its quantity has been limited since its inception. The maximum number of coins is 21 million Bitcoins.

- Decentralization. The network does not have a common server - every user who has a Bitcoin wallet installed on their computer is part of the system.

- Possibility of earning money. Bitcoin cryptocurrency is considered one of the best investment vehicles. Over the years, coins become more difficult to mine, so in the near future the rate will only grow.

Despite the obvious advantages, in the CIS countries, Bitcoin is not so widespread. The main reason is difficulties with legislation. In addition, to pay for a product or service in a regular or online store, you may need regular money or "representatives" of other payment systems. Here you have to think about how to make an exchange.

 

What should I pay attention to?

To sell Bitcoins and get another currency (fiat money or title units), you will have to conduct a transaction remotely, that is, through a special service. The first thing to do is to think about the security of the transaction. The Bitcoin holder must be sure that the sale will be completed successfully and the required amount (in rubles or another currency) will be credited to the account.

An important factor is the current rate at which the cryptocurrency exchange is made. Each Bitcoin holder plans to receive the maximum amount of funds, which is logical. To do this, you should carefully approach the choice of service.

 

Selling options

Below is a look at ways to sell Bitcoins. It should be noted right away that none of the options is fully universal in terms of benefits, safety and speed of the operation. Each has its own pros and cons:

Exchange. The popularity of the cryptocurrency, its active use and the growth of the exchange rate arouse genuine interest from investors (both professionals and beginners). People are interested in protecting and increasing their capital. It is worth noting the high liquidity of Bitcoin, thanks to which the cryptocurrency can be easily sold or purchased. The growth in popularity, turnover, as well as the number of buyers and sellers has led to the emergence of online platforms - exchanges that have united cryptocurrency holders and those who want to buy it under one "roof".
Bidders (buyers and sellers) place orders (orders) to buy or sell the required amount of Bitcoins. Both parties are interested in making a deal with the maximum benefit for themselves. If a person plans to sell Bitcoins, he sets his own price. As soon as there is a buyer on it, the deal is implemented.

Many believe that selling Bitcoin through an exchange is one of the best options. The main thing here is to work only with proven and reliable sites that have several degrees of protection and have proven reliability. A trading participant planning to sell Bitcoins deposits a certain amount into the account of the exchange. The other party (the buyer) deposits the account in a currency sufficient for the exchange. If the buyer-participant is satisfied with the price declared by the seller, then the exchange is considered complete. At the same time, it is implemented automatically, which excludes the scenarios of fraudulent schemes.

Security is not the only plus of exchange through the exchange platform. An equally important bonus is the ability to sell the Bitcoin on hand at the best price. This is due to the fact that the seller has the right to set the price himself, at which there is a buyer.

On the other hand, selling Bitcoin on stock exchanges also has a number of disadvantages. The main one is the time of the operation. For a profitable sale of cryptocurrency, it is necessary to wait until the cryptocurrency rate is as close as possible to the price specified in the application. If the price is "raised" too high, then Bitcoins may not be sold.

It should be understood that the cryptocurrency rate is volatile and can not only grow, but also decline. That is why it is important to understand at least a little bit about trading and be able to predict the movement of the price curve in order to sell Bitcoin through the exchange. So, before making a deal, you should study the history of the chart movement at least for the last few weeks, and then make a decision.

After analyzing the above, an interesting conclusion can be drawn. For the sale of a large number of Bitcoin, the exchanges capabilities will be indispensable. In addition, if you have certain trading skills, you can make a really profitable deal that can bring considerable profit.

Exchange offices. To sell Bitcoins quickly and without unnecessary hassle, you should use the capabilities of 24paybank.net. Here you can withdraw cryptocurrency to a bank card, exchange it for rubles or another currency, withdraw funds to WebMoney or another payment system. The advantages of this method are high speed, simplicity and the absence of any knowledge requirements. The safety of such transactions is also worth noting (especially when it comes to a proven and reliable service).
The downside of exchange offices is that the rate may be less favorable than in the case of the exchange floor. In addition, for speed and reliability, you will have to fork out for commission payments. Although they are insignificant, they are.

An exchange service is the best option for cases when there is no time to sell Bitcoin, and the transaction must be completed in a short time. When exchanging a small amount, the difference in the exchange rate is almost irrelevant.

Direct deal. Alternatively, direct sale of Bitcoins to another person, without involving intermediaries. The main advantage of this method is the ability to carry out the operation at a good rate. The downside is the high risk of being caught by a fraudster. A person who decides to sell Bitcoins can only rely on the honesty of the buyer.
Alternative options. In addition to the options considered, there is another method that is less popular. It is about selling through eBay. There is even a special section for making such transactions.
The disadvantage of this option is that it is time consuming. On the other hand, the transaction is protected from fraud by the system.