If you’re withdrawing fiat for the first time, you’ll be required to link your debit/credit card or bank account, depending on the withdrawal method you chose in the previous step. Changelly is one of the most popular platforms for exchanging cryptocurrencies. It’s straightforward and fast, so if this happens to be your first time selling bitcoin, you can use their service for safety purposes. You can also buy bitcoins with a credit or debit card on their website. The easiest, cheapest, and fastest way to sell your bitcoin and other supported assets into your local currency is Binance Buy & Sell. You can also choose between three platforms, each with the same low fees and advantages, but in a different package.
Binance.US, for example, does not charge any fees for USD deposits made using bank transfer (ACH). However, while these apps are typically user-friendly and accessible, some may not offer the advanced trading features available on dedicated crypto exchanges. Online P2P selling is the easiest way to “cash-out” your cryptocurrency. By creating a listing on an online marketplace, you can sell your items in exchange for cash. This process only works when dealing with local traders in your area and can be risky if you don’t know who you’re meeting.
Enter the amount of bitcoin you wish to sell, select your local currency, and enter the amount. The second way to fund your Binance account is by transferring your assets from other exchanges that allow you to buy any altcoin using fiat to Binance’s wallet. First, you can buy cryptocurrency directly on Binance using your credit card in USD or Euro. Once you have funds in cryptocurrency, you can seamlessly trade in over 200 altcoins that Binance lists. Also, if you use Binance’s native coin (BNB) for trading, then you can take advantage of discounted fees as well.
You should also avoid using bank accounts or online wallets to transfer funds and never reveal personal information until secure transactions are complete. BitQuick is very similar to LocalBitcoins, but serves more countries and offers higher buying limits for many of its services. In addition, BitQuick provides an escrow service for Bitcoin transactions for thousands of American banks. Although they charge a fee of about ten percent, using BitQuick is a fast and convenient process.
On Binance, you can choose between G-mail and SMS authentication methods to receive the 2FA code. Nigerian officials detained both executives on false pretexts of Binance indulging in money laundering in their jurisdiction. While no proof exists, this action is perceived as an extortion attempt. You can convert your Bitcoin into retail vouchers suitable for online shopping, subscription services, or even in-game purchases. They include futures and options – even crypto staking – which may be part of an overall investment strategy. Given its history, many expect it to continue to offer the potential for meteoric price increases (despite its rocky road of volatility).
For example, you could trade bitcoin for cash on the various exchanges that allow users to do so or sell it for money on sites like eBay or Craigslist. In a nutshell, this meant it was necessary to have some funds in cryptocurrency already to be eligible for trading on Binance. Now, Binance allows its users to buy certain cryptocurrencies with USD and Euro using a credit card.
Once you are done with securing your account by setting up 2FA, the next step is to fund your account with cryptocurrencies to start trading. The first step is to locate one near you using an online ATM map such as Coin ATM Radar. Once you find one, you choose the “sell” option on the ATM interface and specify the amount of Bitcoin you want to sell.
Stop-limit orders allow users to set their limit price for buying/selling a coin only after it has reached a certain price or better and not as a market order. This is the fastest kind of trade order where a user can buy/sell the order Crypto Swap Websites immediately at the current market price. Now select Ethereum (ETH) from the drop-down menu to view its wallet address. Click on Copy Address under ETH Deposit Address and paste the address in the Recipient box in your Coinbase account.
Finally, complete the trade according to the agreed terms and receive payment from the buyer. Another way to sell bitcoins is through Bitcoin ATM’s in many cities around the world. However, this option may not be available in your area so you’ll have to do some research online before getting started.
The step-by-step instructions for fiat withdrawal are exactly the same for both. To fulfill this goal, Binance exchange aptly separates the trading features into two different categories. To get Binance’s Etehereum wallet address, log in to your Binance account, navigate to Funds in the taskbar and then click on Deposits. The only catch here is that you can buy only bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash ABC (BCHABC) on Binance using a credit card.
Open your Binance Fiat and Spot wallet and find Bitcoin you wish to sell into fiat. If you wish to trade in Ethereum pair, click on ETH in the taskbar and select the coin that you would like to trade Ethereum for from the box below. All you need to do is decide how much you want to transfer to your account in Binance and click Send. Let’s understand this process by pretending that you are transferring Ethereum (ETH) tokens from your Coinbase wallet to Binance’s wallet as an example. You will be re-directed to the registration page where you will have to enter your email address and create a password for your account.
In this article, we will focus on selling and withdrawing money via credit or debit card and bank transfer. If you want to learn how to sell via P2P, read the Binance P2P FAQ. Paxful is a peer-to-peer marketplace that allows individuals to safely buy, sell, send and receive bitcoin using cash deposit or PayPal as payment methods. The site features over 150 payment options, so any country-specific currency is valid to purchase bitcoins at a low fee. Afterward, you select the currency you wish to receive in exchange for your Bitcoin.
- In a nutshell, this meant it was necessary to have some funds in cryptocurrency already to be eligible for trading on Binance.
- This includes examining other options besides just buying, holding, selling, and trading.
- This is the easiest way to “cash-out” cryptocurrencies because it doesn’t require uploading ID or waiting days before receiving any money.
- The second way to fund your Binance account is by transferring your assets from other exchanges that allow you to buy any altcoin using fiat to Binance’s wallet.
- If you live in Europe, BitPanda is likely the easiest way to sell Bitcoin for cash.
- It’s straightforward and fast, so if this happens to be your first time selling bitcoin, you can use their service for safety purposes.
Once registered, you input your Bitcoin wallet address and transfer the desired amount of Bitcoin to the exchange. Buyers looking for quick purchases without the need to establish trust with the seller may want to consider escrow services to be sure payments are going smoothly. Bitcoin is a cryptocurrency used as a form of payment for many different things.
For more information on choosing the right crypto platform, visit Binance.US today. But the lion’s share of attention for Bitcoin and other cryptocurrencies has undoubtedly been as an investment. So, before buying Bitcoin, it’s important to fully understand its potential value and risk. But if you’ve decided to give Bitcoin a try, how exactly do you go about buying it? Bitcoin owes much of its transformation to a remarkable and highly volatile increase in price since its inception. This volatility can be attractive for speculators but potentially acts as a deterrent to more risk-averse investors.