This website tells you everything you need to know about how to buy bitcoin.
What about the other side of the coin: how to sell bitcoin?
The exchanges you’ll discover through this site are the obvious answer but there are other methods.
Even more important than the particular method of sale, deciding the proper asking price for your bitcoins ensures a profitable and successful exchange.
This guide will cover all these topics in detail.
Perhaps the most well-known decentralised exchange, LocalBitcoins facilitates both online and in-person trades.
For selling Bitcoin 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 also considered to be fairly decentralised; this service escrows the seller’s bitcoins until the buyer’s in-bank deposit (to the seller’s account) is confirmed by the bank.
If you intend to do many such cash trades, you might want to invest in an ultra-violet counterfeit bill detector. Also, if your buyer indicates any intention of using purchased bitcoins for illegal activities, cancel the trade immediately.
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 the Coin ATM Radar site for their 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.
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.
Decentralized exchanges such as LocalBitcoins available (almost) globally.
Additionally, BitQuick covers North America, Europe and several Asian nations.
Volume on these exchanges is dependent upon the number of individuals in each region interested in trading Bitcoin. Buyers may be scarce in small countries and / or those with low levels of internet penetration.
Larger exchanges, such as Coinbase, span several countries or entire regions. Smaller, local exchanges exist in most nations with a significant Bitcoin user-base.
Here are some specific recommendations for the English-speaking world:
Coinbase and Circle are both prominent and feature-rich exchanges which allow you to sell Bitcoins for USD. Gemini is a relatively new exchange which may be a good fit for major sales as they cater to institutional clients. These exchanges focus on regulatory compliance and making their user experience as seamless as possible.
Bitfinex and Kraken are two more popular exchanges which cater to Americans. Both have very high volume and advanced trading features. Ensure that you read the respective documentation for all these exchanges for further information on trading limits and terms.
All major decentralised services are available in the US, although LocalBitcoins and BitQuick don’t operate in the state of New York due to the BitLicense legislation.
The big American exchanges, Coinbase and Kraken, are also available in Canada for purposes of selling Bitcoin for Canadian dollars. Canada has many of its own exchanges, large and small; Quadriga CX is recommended for its low fees and advanced trading platform.
All major decentralised services are available in Canada.
Note that LocalBitcoins is not available within Germany due to legal restrictions; Bitcoin.de is recommended as an alternative.
The major decentralised exchanges are available in the United Kingdom, as well as the UK-only, peer-to-peer marketplace, BitBargain.
The major decentralised exchanges operate within Australia, with the exception of BitQuick.