Best Places to Sell Bitcoin | Beginners Guide | Bankless Times | marketrealtime.com


Last updated 25th Dec 2022

After making significant gains with Bitcoin, you’ll likely want to sell at a huge profit. However, selecting the perfect platform can be challenging with many available exchanges. This page covers the best places to sell Bitcoin in 2022.

Also, we’ll discuss each crypto exchange’s best features along with its pros and cons to sell the cryptocurrency token.

Best Platforms to Sell Bitcoin in 2022

There are dozens of crypto exchanges that offer great services for selling Bitcoin. Below are our top picks for the best platforms to sell Bitcoin.

1

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What Options Do I Have to Sell Bitcoin?

P2P Platforms:

Centralized Exchanges:

  • Centralized exchanges (CEX) are perhaps the best option for investors since they have little fees and excellent trading interfaces. These platforms are regulated by a government authority, making them trustworthy. Also, they have amazing security and have a page to showcase what technologies they use.

  • Moreover, you have multiple sell options: stop-loss, limit, and market order. This lets you minimize losses while receiving the best prices for your Bitcoin. Also, after selling your Bitcoin, you have multiple investment options like staking and crypto lending.

Decentralized Exchanges:

  • Decentralized exchanges (DEX) allow users to sell and buy various cryptocurrencies anonymously. However, they require you to connect a crypto wallet, so this option is for more experienced investors. Furthermore, DEXs use smart contracts that make them trustworthy if the program is coded correctly. Also, this lets them take advantage of the blockchain’s security since decentralized exchanges are built on the chain.

Where Is the Best Place to Sell Bitcoin in 2022?

Centralized Exchanges

Centralized exchanges connect buyers and sellers to participate in various trading activities. They offer trustworthiness and reliability because government authorities license only legitimate exchanges. Furthermore, many crypto platforms have insurance funds that protect investors’ funds if they were stolen.

Cryptocurrency exchanges offer dozens of trading pairs for Bitcoin, making it easier to diversify your portfolio. Moreover, the trading interface has multiple order types, letting investors get the best prices for their coins. Also, CEXs have excellent fee structures that you can find on the exchanges’ dedicated costs page.

Key Features

  • Centralized exchanges provide users with multiple trade types

  • These platforms can have several exchange interfaces designed for different investing activities

  • Exchanges provide multiple investment options after selling Bitcoin

Pros

Licensed exchanges are reliable and trustworthy to use
Centralized exchanges have multiple trading pairs for Bitcoin

Cons

CEXs require you to verify your identity to remove withdrawal limits
High withdrawal fees depend on the coin being transferred

How to Get Started

Step 1: Open the official website

Step 2: Create an account and verify it

Step 3: Deposit your Bitcoin

Step 4: Open the trading interface

Desktop Wallet

Desktop wallets are decentralized applications that store various cryptocurrencies. They are an excellent alternative to mobile and browser wallets since they contain many useful features. For example, unlike most software wallets, desktop applications can connect to exchanges for you and sell Bitcoin. However, desktop wallets apply a fee for this convenient service.

Key Features

  • Desktop wallets can automatically connect to a crypto exchange for you

  • Desktop wallets are compatible with many blockchains, helping investors store their assets in one location

  • These hot wallets integrate with hardware devices like the Trezor Model T

Pros

Total control of your assets
Great staking programs after selling Bitcoin
Desktop wallets automatically connect to exchanges

Cons

Higher fees for exchanging through the wallet
No advanced trading tools
Can’t convert Bitcoin to fiat currency

How to Get Started

Step 1: Choose a desktop wallet after

Step 2: Create an account

Step 4: Click the exchange button

Step 5: Complete the trade

Step 6: Your balance will update

What Is the Quickest Way to Sell Bitcoin Anonymously?

Decentralized Exchanges

Decentralized exchanges (DEX) offer the best solution for investors looking to sell Bitcoin without revealing their identity. DEXs are built on the blockchain and require no KYC process while keeping your money secure. However, users will need to be tech-savvy since decentralized exchanges require setting up a crypto wallet beforehand. Nevertheless, there are dozens of DEXs that offer a straightforward approach for selling Bitcoin.

Key Features

  • Decentralized exchanges are built on the blockchain to take advantage of the security benefits

  • DEXs use smart contracts to operate

  • Decentralized exchanges are not owned by a single entity and require no KYC process

Pros

DEXs are the best platforms for selling and buying Bitcoin anonymously
Decentralized exchanges support most crypto wallets

Cons

High fees for using ERC-20 DEXs
Decentralized exchanges do not accept fiat money
DEXs have a learning curve that can confuse new investors

How to Get Started

Step 1: Create a crypto wallet

Step 2: Navigate to a trusted DEX

Step 3: Connect your crypto wallet

What Is the Safest Way to Sell Bitcoin With PayPal?

PayPal Gift Cards

PayPal offers CFDs for Bitcoin, Ethereum. Bitcoin Cash, and Litecoin. Therefore, investors won’t convey ownership of coins, making it difficult to sell. However, PayPal has incorporated crypto payments into its system. Now users can pay for various products and services with Bitcoin, including gift cards.

Although gift cards are not optimal for selling large amounts, those who have small portfolios will find this option viable. After selling BTC for gift cards, there are many platforms that exchange cards for fiat money.

Key Features

  • Gift cards are accepted in most convenient stores

  • Investors can exchange their gift cards for fiat currency

  • PayPal offers a great selection of gift cards to purchase

Pros

Great for selling small amounts of Bitcoin

Cons

Not viable for selling huge amounts of Bitcoin
Gift cards have an expiration date

How to Get Started

  • Step 1: Head over to the front page of PayPal and make sure you have Bitcoin in your account.

  • Step 2: Find a gift card seller that accepts Bitcoin as a payment system.

  • Step 3: Create an account and exchange your BTC for gift cards.

  • Step 4: Now, you can either use the gift cards or exchange them on a reselling site to receive fiat money.

PayPal Platform

The safest way to sell Bitcoin is through the PayPal trading interface. Their dedicated crypto page is straightforward to understand and contains all the features crypto investors need. PayPal applies a maker or taker fee of $0.50 for trades sizes from $1 to $24.99. Larger trade sizes will have a fee percentage structure instead.

Key Features

  • PayPal offers exchanges for Bitcoin, Litecoin, Ethereum, and Bitcoin Cash.

  • PayPal lets its clients use Bitcoin as a payment method.

  • Paypal has a huge following, resulting in 426 million users worldwide.

Pros

Excellent trading interface
Easy process for selling Bitcoin

Cons

PayPal doesn’t let users withdraw their coins from the platform
The platform doesn’t offer stablecoins for exchanges

What Is the Cheapest Way to Sell Bitcoin With a Debit/Credit Card?

Crypto Wallet

Nowadays, cryptocurrency wallets like crypto.com let users sell Bitcoin for fiat currency. Afterward, investors can use the debit card without transferring the funds to a bank. Also, most crypto debit cards offer amazing cashback rewards that offer higher percentages than banks.

Crypto wallets have great fee structures, making them an excellent option for selling Bitcoin at low costs. Before creating an account, investors can check the costs by reading the crypto wallet’s dedicated fee structure page.

Key Features

  • Users can use these wallets as regular bank cards since they hold fiat currency and crypto.

  • Some crypto wallets automatically convert Bitcoin to fiat currency when purchasing products, removing the need to manually sell BTC.

  • Crypto wallets offer multiple investment opportunities for clients, including staking and holding coins.

Pros

Cashback rewards are much better than banks
Lets you manage all your crypto assets from one platform
Most crypto wallets will send a debit card for free

Cons

High fees for directly buying crypto with bank cards
Many crypto wallets are unregulated

What Withdrawal Methods Are Available When Selling Bitcoin?

After selling Bitcoin, you’ll likely want to withdraw your profits to a secure wallet. Thankfully, exchanges and crypto platforms offer multiple methods to transfer currency.

Below are the top options for withdrawing Bitcoin after selling:

  • Cryptocurrency

  • Debit Card

  • Bank Wire Transfer

  • eWallets

What to Consider When Selling Bitcoin?

When selecting a platform to sell Bitcoin, you should make some considerations beforehand. Here are the top factors that should impact your decision when trading BTC.

Trading Options:

  • The platform must provide multiple trading options so you can receive the best prices for your Bitcoin. The most important is a limit order, which lets you set the price yourself. However, a market trade is applicable if you need to quickly sell BTC since it takes the best available price.

Features:

  • Having the best features at your disposal can help in profitable trades. For example, a trading interface with multiple tools can provide a great amount of information to help you make more informed decisions.

Interface:

Fee Structure:

  • Before selecting a platform to sell Bitcoin, you should check out their fee structure. Crypto exchanges apply various fees for using their services, and the amount ranges from each platform. Most likely, you’ll encounter a deposit, withdrawal, and trading fee.

Security:

  • Protecting your funds should be the platform’s number one priority. There are some great options like Kraken, which specify what technologies are used to prevent hacks. Moreover, the exchange must let users enable 2-step authentication and whitelist crypto wallets for extra security.

Investment Opportunities:

  • Investors can exchange their Bitcoin for a stablecoin, fiat currency, or another token. Therefore, the exchange should provide multiple investment opportunities to their clients like staking, liquidity pools, and lending.

Should I Sell or Trade Bitcoin for Another Cryptocurrency?

Bitcoin is the best-performing token in cryptocurrency, reaching an all-time high of $67,000. Nevertheless, many expert investors and institutions say we are still early in blockchain technology, and Bitcoin has the potential to reach at least $1,000,000. Therefore, we recommend holding Bitcoin for the long term because it has performed the best historically.

However, if you’ve made significant profits and want to diversify your portfolio, then selling a portion of your Bitcoin is a brilliant idea. There are hundreds of crypto projects available to invest in, with great fundamentals, an expert founding team, and tokenomics. Here are some amazing cryptocurrencies to purchase after selling Bitcoin.

Final Thoughts

Bitcoin is one of the best-performing assets in history, and many have made a fortune selling it. Nowadays, investors have multiple platforms to sell their coins and cash out their profits. We’ve discussed the best platforms for selling with low fees, anonymity, and convenience.

Before using any of the methods mentioned above, you should do your due diligence and research the best option for yourself. Take into account the fees associated and the process of cashing out your fiat currency.

FAQs

Is it safe to sell Bitcoin?

What is the best place to sell Bitcoin in 2022?

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