This guide shows you all the best ways to sell any amount of Bitcoin quickly, cheaply, and easily.
If you don’t want to pay an arm and a leg in fees, but want to cash out of Bitcoin, this is the guide for you!
We will cover:
Read on to find all our top methods and platforms for 2021!
Selling Bitcoin is pretty easy these days.
Before we hop into the specific methods and platforms we like to use to sell Bitcoin, let’s walk through the normal steps.
If you are in the US, you probably aren’t looking to sell your Bitcoin for Euros (EUR) or Pound sterling (GBP).
That’s important, because some services don’t support US dollars.
Heck, some exchanges don’t support fiat currency at all.
That means the first thing you need to do is decide which form of money you will accept for your Bitcoin.
Now that you know which currency you want in exchange for your cryptocurrency, its time to make an account on a platform that lets you sell your BTC.
This is obvious, but you should check to make sure that platform cashes out in the currency you determined in step 1.
The ones below support many different fiat currencies and we like all of them!
There are tons of platforms to sell Bitcoin on, and the easiest, by far, are exchanges and brokers like Coinbase or Coinmama.
Signing up on Coinbase is really simple - it’s like making an account on Amazon!
Some methods, like selling to a Bitcoin ATM or to a friend at a Bitcoin meetup won’t require an account at all.
If you choose that method, you can skip this step.
If you do choose an exchange or broker, the process of creating an account is slightly different on each platform, but for the most part it will consist of:
You may already have an account verified if you originally bought your Bitcoin on the exchange you are selling it on.
Now that your account is created, you’ll need to deposit your crypto assets on the exchange.
Hit the “deposit” or “sell” button.
You’ll be presented with a wallet address and/or a QR code.
Scan that into your Bitcoin wallet and send the amount of coins you want to sell.
This step only applies to actual selling platforms.
If you are selling to someone you know in person, you'll just send the digital currency to them directly and they will hand you cash - then you are done.
Now it’s time to make a sell offer on the platform you are selling on.
That means picking a price you are willing to part with your Bitcoin for.
The process for doing this always looks a little different on every platform, but for the most part, it works the same way.
Look for the “sell” or “trade” tab, and either sell at the price offered by the broker or create a custom sell order on an exchange order book.
The only difference is, with a broker, you are selling at whatever the spot price is (minus some fees).
With an exchange, you can set whatever price you want. Just don’t expect for the sell to be accepted by any takers if your price is too high.
The nice thing about the crypto exchanges are that the fees tend to be lower than the brokerages.
And that’s really all there is too it!
Now, let’s look at the best platforms and methods to sell in each country!
Coinbase is a prominent and feature-rich crypto exchange which allow you to sell Bitcoins for USD.
Coinbase Pro also caters to Americans. It has high volume and advanced trading features. Ensure that you read the respective documentation for all these cryptocurrency exchanges for further information on trading limits and terms.
Coinberry is also a great choice to sell your Bitcoins in Canada.
To view all the available sale venues in your location, obviously excluding the private sale method, consult the Buy Bitcoin Worldwide “Find a Bitcoin Exchange” page.
In person exchanges such as LocalBitcoins is available (almost) globally.
And while you are looking at LocalBitcoins, you should also check out LocalCryptos.com.
Its pretty much the same as Localbitcoins, but they also allow you to sell altcoins.
However, Bitcoin sellers are the most common, so make sure to check it and see if you get any better offers there.
Check out their sleek interface!
Larger exchanges, such as Coinbase, span several countries or entire regions. Smaller, local exchanges exist in most nations with a significant Bitcoin user-base.
Now that we’ve got locations covered, let’s focus on methods for selling Bitcoins if we want cash!
Services like LocalBitcoins allow you to arrange in-person trades for cash. A secure location, such as a bank or police station lobby, is recommended.
If you intend to do many such cash trades, you might want to invest in an ultra-violet counterfeit bill detector or a counterfeit detection pen.
Also, if your buyer indicates any intention of using purchased bitcoins for illegal activities, cancel the trade immediately.
Perhaps the most well-known “decentralised” exchange, LocalBitcoins facilitates both online and in-person trades.
However, LocalBitcoins was finally forced to submit to KYC and AML regs and verify the identity of its users the moment they transacted more than €1,000 worth of crypto. Therefore, LocalBitcoins cannot technically be called a “decentralized exchange” any longer.
Here is a view of their different verification tiers:
|Tier 0||Tier 1||Tier 2||Tier 3|
|Proof of Residence|
For selling Bitcoin, Ethereum (ETH), BitcoinCash (BCH), Ripple (XRP) or Litecoin (LTC) online, up to 70 different payment methods may be requested (depending on your location), including traditional options such as bank transfer, PayPal, Western Union and so on.
BitQuick is an escrow service that holds a seller’s bitcoins until the buyer’s in-bank deposit (to the seller’s account) is confirmed by the bank.
Since Bitquick is unique, so is their look and feel. They offer estimates for how long the transaction should take as well as a host of other useful features.
For individuals who know and trust each other, such as family, friends and business colleagues, there’s no compelling reason to use any go-between service.
The private sale method has several advantages; no fees, convenience and, depending on the level of trust and familiarity, the highest security.
A good way to meet potential buyers for private sale purposes is to attend Bitcoin meetings or conferences in your area.
Certain Bitcoin ATMs around the world enable you to sell as well as buy bitcoins. Check out our Bitcoin ATM Map for locations.
To list only ATMs which buy Bitcoin, ensure that the checkbox marked “crypto -> fiat” is ticked and disable the “fiat -> crypto” box.
Clicking the location markers provides detail on specific ATMs, including basic information such as address, operating hours, fees, limits and the type of ATM.
The “read more ->” link should provide contact details for the ATM’s owner should you require any further information.
It’s best to enquire in advance as to what form of identification is required to use a Bitcoin ATM; some have rather invasive information requirements, such as fingerprint or ID book scans.
We’ve shown you the best methods and platforms to sell Bitcoin in 2021.
We chose these methods because They are:
So you really can’t go wrong with any of them.
But what do you think? Think you know an even better way to sell Bitcoin?
We want to know!
Hit that contact button to share your favorite method.
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