Sell my bitcoin
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R7 265 MINING BITCOINS
If you're receiving cash via bank transfer, you'll of course need to factor in the associated fees. Exchange services also charge fees for facilitating trades. These fees cover the exchanges' operating costs plus a small margin. Selling bitcoin using an exchange service Bitcoin. If you haven't done so already, follow the instructions to connect your bank account.
Select the amount you'd like to sell. You can input the amount in either local currency terms or bitcoin terms. Confirm the transaction. Note: it typically takes between working days to receive the funds in your bank account. Selling bitcoin on our website With this method, you'll need to create an account, verify your identity and connect your bank account, then send the bitcoin BTC you'd like to sell to a specified Bitcoin address.
After the sale is processed, you'll receive cash in your bank account. Here's how it works: Visit our official Sell Bitcoin page Select bitcoin BTC Choose the currency you'd like to receive and enter the amount either in local currency terms or bitcoin terms Carefully review the order, then add your wallet address and click Continue The wallet address you provide will be used as the return address in the very unlikely event the transaction doesn't go through Complete the sale process by entering your bank details and sending your bitcoin to the address we provide Note: it typically takes between working days to receive the funds in your bank account.
Selling bitcoin on a cryptocurrency exchange With this method, you'll need to create an account, verify your identity, and connect your bank account. Once you've sold your bitcoin into local currency, you can withdraw that currency to your bank account. The typical flow is as follows: Visit a cryptocurrency exchange. Create an account and verify your identity as required. Withdraw the funds to your bank account. Selling bitcoin peer-to-peer A variety of platforms facilitate the trading of bitcoin and other cryptoassets by offering 1 a venue for buyers and sellers to post their buy and sell orders, and 2 an escrow and dispute resolution service.
Since these platforms principally help people find each other, in many jurisdictions they aren't technically classified as exchanges or 'money transmitters,' so in some cases they don't require you to reveal your identity in order to use them.
How long do you want to wait to receive your cash? Which currency do you need to change your Bitcoin in to? These are some of the questions that you will need to ask yourself. So, read through the following methods on how to cash out bitcoin and then decide which is best for you.
Third-Party Exchanges Some cryptocurrency exchanges do not allow you to deposit funds using fiat money - however, most do. This is how it works: you deposit your Bitcoin into the exchange, then, once the exchange has received your Bitcoin, you can request a fiat currency withdrawal.
The most common way to do this via a bank wire transfer. To make sure brokers do not break money laundering laws, you will need to withdraw to the same bank account that you deposited with. If you have never deposited fiat on to a broker exchange, then you will more than likely need to make at least one deposit first.
If you decide to cash out your Bitcoin using an exchange such as Binance , then it will normally take about days for the money to reach your account. When selling Bitcoins to other people on LocalBitcoins, you can decide which payment method you want the buyers to use. These include: Cash deposit: You can ask the buyer to deposit cash into your bank account. However, you should always ask them for proof of ID and proof of payment before releasing your Bitcoins to them. Bank Transfer: You can ask the buyer to send you a bank transfer payment.
Before trying this method on how to cash out Bitcoin, be sure to always request proof of ID from the buyer before going ahead. Once you have received the money, you can release the Bitcoins to them. Meet in person for cash: You can arrange to meet up with a buyer who is local to you, and they will pay you in cash for your Bitcoins.
LocalBitcoins offer a good level of safety because of their escrow service. This keeps your Bitcoins locked until you confirm the payment has been received from the buyer.
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