How To Sell Cryptocurrency: Definitive Guide

how to sell cryptocurrency

How To Sell Cryptocurrency

In order to sell any of your cryptocurrencies, you need to go through the same simple process as in the case of buying cryptocurrencies. Нou can cell your cryptocurrency in several ways and we are going to look into each one of them. In this article, we will look through the most popular methods of how do you sell cryptocurrency (for cash or not), investigate the best way to buy and sell cryptocurrency and will find the best app to buy and sell cryptocurrency. You should always remember that the main thing in the crypto world is security. Therefore, you should not try to buy and sell cryptocurrency before you do a bit of research. Check out this guide on how to sell cryptocurrency from ChangeNOW, a leading limitless instant crypto exchange service.

How Easy Is It To Sell Cryptocurrency

The easiest and most secure (but bear in mind, not the quickest!) way to sell coins is to use a website that offers cryptocurrency exchange services. Then you will have to conduct the reverse exchange of your coins to fiat money. If you do not have a wallet on the stock exchange yet, we recommend creating one on one of the reliable websites and then transferring the coins you want to sell there.

This method is the most reliable for a simple reason: the exchange blocks the funds that should be paid to you, so a potential attacker will not be able to get your coins without paying for them. In addition, most stock exchange websites use SSL encryption to make all transactions completely secure.

When the coins are in your wallet, selling them is easy. To do this, just specify which coins should be sold, and go to the “sell” section. There you need to enter the number of coins put up for sale and indicate the price you want to get for them. After that, send a request for sale. The rest will be for the platform to complete. It will select a buyer who wants to purchase your coins at the stated price. After the transaction is completed, the coins will no longer appear in your wallet. Instead, you will see the fiat currency received for them. You can withdraw these funds to your bank account via bank transfer or use them for a bargain purchase of another cryptocurrency.

How Long Does It Take To Sell Cryptocurrency

Exchange services are an extremely popular tool to buy/sell cryptocurrency and they are the first thing that search engines offer to those who wish to cash cryptocurrency. The variety is great. Courses, commission, speed, banks and payment systems, places where you can withdraw funds differ from platform to platform. Based on the above, you can choose the best app to buy/sell cryptocurrency for yourself.

There are so many exchange services that it is impossible to study exchange rates on each one manually. Therefore, there are special sites for monitoring cryptocurrency rates on different exchanges, these websites will allow you to buy/sell cryptocurrency with the biggest profit. Technically, the withdrawal of funds through the exchange is simple. Often it is required to enter the wallet number and the card or account number for crediting money. The withdrawal time ranges from several minutes to 24 hours, although it can sometimes be 2-3 days, depending on your coins, the number of funds being exchanged and market situation.

How To Buy And Sell Cryptocurrency Instantly

If you need an instant exchange you might have to sacrifice better rates for speed. However, there are a few trusted and reasonably priced options out there. WebMoney recognized Bitcoin, and this currency can be directly transferred to the WM e-wallet. Please note that you will need your account to be confirmed by personal data! If you are okay with that you can create a  WMX wallet for Bitcoins that will allow you to sell it without asking yourself a question of how long does it take to sell cryptocurrency.

Further actions are pretty standard. Your wallet is paired up with the address for sending bitcoins. coins on your wallet can be converted to another currency or transferred to a bank card. In both cases, a commission is charged, however, it is very reasonable and may vary depending on the speed of the operation. So, Bitcoin transactions on WebMoney that run more than a day are cheaper than “urgent” operations. For the latter will have to pay 0.8% of the number of coins exchanged.

How To Make Money Buying And Selling Cryptocurrency

The first thing to know if you are trying to learn how to buy and sell cryptocurrency for profit is that you should follow the cryptocurrency buy/sell signals and buy the coin when it’s cheap and sell when it’s expensive. This should determine your trader behaviour. Newbies often forget about this in a panic and act in the exact opposite way.

To start off, choose a reliable exchange among cryptocurrency buy and sell apps. Reliable usually means large, with significant trading volumes and positive reviews. Then, choose currency pairs. Currency pairs consist of two currencies, on the course of which the trader earns relative to each other. A pair can consist of fiat  currency and cryptocurrency, for example, BTC and USD, or of two cryptocurrency, for example, BTC and ETH. Beginners are usually advised to take pairs consisting of cryptocurrency and fiat currency. It is easier to predict exchange rate fluctuations in such a pair due to greater stability of fiat currencies.

There are some standart criteria that can help you to choose a profitable trading pair. First of all, the couple should be actively traded, that is, there should be a lot of offers to buy and sell the given cryptocurrencies. This indicates a demand for currencies, therefore, the trader will not have to wait long for the buyer. With active trading, if a trader with a large amount of money appears on the market it does not particularly affect the rate. In pairs with a small trading volume, any large bet of a big player can turn the course around as the player wants. Secondly, it is absolutely necessary to pay attention to the fluctuations (i.d. the price changes) on the market. Strong fluctuations can provide a good income, but for beginners, they might lead to significant losses as it is difficult to predict them. With strong fluctuations, a novice trader should not invest big money. You can invest an insignificant sum to get the hang of how to work with volatile currencies. Analyze the current situation on the market and act in accordance with it. For a beginner, it is reasonable to wait for the currency price to fall below the average level and buy it when it approaches the past minimum values. If the moment is missed you can buy it as soon as the course began to barely noticeably grow and is still well below the average. Selling is a bit more complicated. If the currency does not have a pronounced upward trend you can sell it when it approaches the past maximum. But if it is actively growing, there is a possibility that it will rise above past maximum values.

Keep in mind, that if you are willing to  buy and sell cryptocurrency for profit you are required to pay tax on selling cryptocurrency and you should consult the legal documents of your country for more up-to-date info.