Investing in cryptocurrency is a highly popular trend nowadays but one question many people ask is “How to sell cryptocurrency?’. Crypto assets are very volatile meaning that one day the price can soar and the next day it crashes. To protect your portfolio, you have to know how to sell cryptocurrency so that you can cash out at the optimal time.
Selling cryptocurrency is similar to buying in terms of the steps taken. The same steps are taken to sell—only that it is almost a reverse process. To sell cryptocurrency, you must have a crypto wallet loaded with crypto as well as the keys to the wallet.
Just like way cryptocurrency can be bought through several methods, there are many ways to sell it. You can utilize options such as crypto exchanges, crypto ATMs, peer-to-peer platforms, or even face-to-face transactions. In this article, we discuss how to sell cryptocurrency in detail.
What is the best option for selling cryptocurrency?
As highlighted above, there are various ways to sell cryptocurrency. Out of these options, cryptocurrency exchanges remain the best platform to either buy or sell cryptocurrencies. Crypto exchanges are safe, simple to use, and accept a wide range of payment options.
Still, caution needs to be exercised when choosing a crypto exchange as scammers can use your inexperience to their advantage. You should choose reputable platforms such as NakitCoins which are safe and secure, charge low trading fees, process transactions quickly, and have a wide range of cryptocurrencies you can choose from.
Selling cryptocurrency on a cryptocurrency exchange
A crypto exchange is an online marketplace where crypto enthusiasts can buy or sell bitcoin. They facilitate the transfer of crypto from one person to another while charging some fees. In return, exchanges offer benefits like enhanced security features, user-friendly platforms, as well as customer support which are aimed at making selling cryptocurrency easy. Some exchanges even offer crypto wallet services making it easier to buy or sell cryptocurrency using that particular exchange.
Sell cryptocurrency using crypto ATMs
It is amazing how the adoption of cryptocurrencies has become so widespread to the fact that ATMs specifically dealing with crypto have been set up. This is a great feat considering that just a few years ago crypto was considered the currency of the dark web. Today there are crypto ATMs set all over the world where you can buy and sell your cryptocurrency.
What you have to do is use the ATMs to sign into an exchange account and enter the amount of crypto you wish to sell and your wallet address. Once the details have been verified, the transaction is authorized and you can receive your cash. Crypto ATMs are safe but usually charge higher trading fees.
Peer-to-peer exchanges
Another option you can consider when it comes to selling cryptocurrency is peer-to-peer platforms. These platforms allow users to buy or sell cryptocurrency to each another without the need for an intermediary. All users have to do is create an account, verify their details and start trading crypto. however, this option is very risky as you can easily be scammed. That is why the top peer-to-peer platforms use escrow services which helps ensure neither party will be defrauded.