How to Sell Bitcoin in 2025 Coinbase, Robinhood & Cash

However, the services each exchange supports will vary, and you’ll still have to link your PayPal account, or an equivalent, before you begin. Centralized exchanges tend to be an extremely convenient way to sell your Bitcoin, and they often provide lots of options in terms of currencies you can trade with. OTC trading desks are designed for private, direct, and large Bitcoin transactions, offering a more personalized service that connects buyers and sellers directly. These desks allow you to trade significant amounts of Bitcoin without impacting the market price, which is ideal for high-volume sellers or institutional investors. These machines are available in many cities and allow you to convert your Bitcoin into fiat currency on the spot.

#4. Wallet On-Ramps

On top of that, most top crypto exchanges require you to complete Know Your Customer protocols before undertaking any trading. This means that your BTC sale can be traced back to your identity, which raises privacy concerns but isn’t too worrying unless you acquired that BTC in an illicit manner. Robinhood, a neo-broker, even has a reputation for going down whenever one of their assets spikes, thereby not allowing users to sell when the price is right. There are multiple ways to sell Bitcoin, each with its advantages and trade-offs.

Step 2: Transfer Your Bitcoin to the Selling Platform

• Enter the desired quantity of BTC to swap for GBP and click on the ‘Sell BTC’ button to execute the trade.
• These machines are available in many cities and allow you to convert your Bitcoin into fiat currency on the spot.
• However, if you’re willing to take on the challenge, this is how you make a P2P trade.
• You pay for convenience with usually higher fees than exchanges, but they have onboarded millions worldwide due to their broad user base.
• If you decide to make in-person trades, make sure you transact in a public setting and be aware of the major risks involved.
• You might have heard of LocalBitcoins, which is an extremely popular venue for this.

Once the sale is complete, withdraw your funds to a linked bank account. P2P trading allows you to sell cryptocurrency without the limits of an exchange. Cryptocurrency exchanges are a good option if you want the money from selling Bitcoin sent into your bank account or toward your credit card.

Custodial storage is all about supposed convenience, but when it comes to withdrawing or selling your BTC, many custodians tend to become difficult. Some even disallow withdrawals as a matter of policy, raising questions as to whether they even have any BTC or have sold you CFDs instead. Then there’s also the possibility that you want to keep your funds in crypto and only want to sell Bitcoin to realize a profit (or a loss).

Complete the Sale

This is because the cryptocurrency exchange does all the hard work of setting a good price and finding a random person looking to buy bitcoin for this price. For this example, we’ll use Coinbase, but most crypto exchanges have a similar method. Now that you know your options for selling bitcoin, we’ll go through the two online methods. To get started, you’ll need an account with the particular exchange you want to use and some bitcoin in the exchange wallet to sell. If you need to spend the money right away, you also need to keep cash settlement times in mind. Bank transfers can take a few days, unlike Bitcoin transactions, which are fully confirmed in an hour.

In this manner, WBTC tokens are held to be equivalent to BTC coins that are held securely. Despite the fact that selling Bitcoin isn’t difficult in 2023, there are a few things you do need to figure out before pulling the trigger. Others are thinking about selling, trying to get out before things go south. External factors like new regulations or major economic and political news can also influence the market, so staying informed about global events can provide helpful insights. Once executed, you will receive a notification confirming the sale, and your balance will be updated.

How to Minimize Fees When Selling Bitcoin

• Crypto exchanges are the most popular way to instantly cash out of BTC to a bank account.
• Sometimes there will be a short holding period before you are allowed to complete the withdrawal.
• Part of this can be seen through raw market data as Bitcoin rallies amidst the collapses of banks, falling like dominoes to the consequences of risky bets and unsustainable leverage.
• The process entails a seller transferring the digital asset to escrow; then, the buyer makes payment.
• This is useful if you wish to take profit on your bitcoin investment or prevent the value of your portfolio from declining.
• Bitcoin has been one of, if not the, best-performing assets throughout its history (January 2009-present).
• If you need to spend the money right away, you also need to keep cash settlement times in mind.

Selling turns cryptocurrency into fiat currency, but you’ll need to withdraw it to actually put it in a bank account or turn it into cash. We’ll go through both, so you’re not stranded halfway through the process of getting your money. To sell Bitcoin, you typically buy in or transfer your BTC to the platform of choice, set the amount to sell, and decide whether to sell at market price or set your own price. Once how to buy sushi the sale is complete, you can withdraw the funds to your bank account or hold them for future trades. Tap on ‘Trade’ from the list of options to open up the trading terminal. A limit order allows an investor to set the price to trade a coin, while a market order allows the user to sell at the current market price.

Is it legal to sell Bitcoin for cash?

The quickest and most straightforward way to sell BTC is to use a Bitcoin ATM, assuming there is one nearby. Some will require little or no KYC; however, their fees are much higher than other exchange providers. It might be worth considering that you can only receive the sale’s funds in cash from an ATM, so this should probably be a preferred method for trading smaller amounts. If you don’t like how traceable digital banking can be, or you just need some cash, and all you have is your bitcoin wallet, you should consider withdrawing funds from a bitcoin ATM. This allows you to get the money immediately, though remember that you also can’t rely on finding another ATM, so you’re normally stuck with whatever rates and limits the ATM you’re at has.

Selling Bitcoin FAQs

On the other hand, if you keep your Bitcoin in your own private wallet, your options are completely unlimited. Some crypto wallets have extensive partnerships to improve their functions and services, and this sometimes extends to an on-ramp. What this means is that rather than looking for a dedicated exchange or way to buy Bitcoin, you can do it without leaving your wallet interface. Bitcoin was originally conceived as a peer-to-peer electronic currency, so why not go with the OG option? This generally means that you find someone who’ll trade you what you want for your BTC, and there are plenty of services that will perform “matchmaking” to this extent. If you’ve been smart with your BTC and hold it in a non-custodial wallet under your own control, then you’re in luck.

Peer-to-Peer (P2P) Marketplaces (Best for Higher Control)

The only difference is that rather than inserting a debit card and PIN, you type in your bitcoin address. Just make sure that no one’s watching over your shoulder while you type it out, as physical threats to your privacy are a potential issue using this method. Aleksander Hougen, the co-chief editor at Cloudwards, is a seasoned expert in cloud storage, digital security and VPNs, with an educational background in software engineering.

If you’re in a country or region where the platform is banned, you’ll need one of the best VPNs for Binance. There are some problems around this, such as what happens if the buyer doesn’t pay up, and the peer-to-peer marketplaces will still have some information on who you are. Although there is plenty of information out there on what bitcoin is and how to trade it, you also need to make sure you can sell it. This doesn’t have to be difficult — selling on an exchange takes just four steps — but there are a few different ways to go about it, depending on your priorities. Knowing how to trade bitcoin is fine, how to sell your bitcoin from wallet exodus buy bitcoin to transfer except that it doesn’t let you actually use the profits that you’ve made — and that can be frustrating if you’ve got a lot of capital tied up.

All of this is done publicly, and you can view the transactions on the Bitcoin blockchain as they happen using a blockchain explorer. This transparency is one of Bitcoin’s hallmarks and the reason it remains a viable alternative to the contrasting opacity of traditional finance. The main advantage of this system is pros and cons of accepting bitcoin for a small business that it allows the use of BTC, via the WBTC token, in Ethereum-based DeFi. This can mean earning a yield on Bitcoin, which isn’t otherwise possible outside of risky lending via custodial platforms, a number of which have failed recently. The second major thing to keep in mind is that your current storage method for BTC may dictate or even limit the best way to sell Bitcoin.

Its users can sell BTC directly for fiat via the trading exchange or a single ‘Convert’ feature to quickly and safely swap between currencies. The tricky aspect of the selling process is to part from sound money in exchange for fiat currencies that have gone through a financial and systematic crisis for a long time now. Payment apps are the quickest and more straightforward way to buy and sell bitcoin, and an increasing number are emerging as peer-to-peer services. You pay for convenience with usually higher fees than exchanges, but they have onboarded millions worldwide due to their broad user base.