How to Sell Bitcoin: 4 Ways to Liquidate Your Coins
Knowing the right time to sell an asset is an eternal question that you have to face in your career or life. Call it a strategic decision, but timing is a crucial characteristic of success. It becomes even more complex when trading with the highly volatile Bitcoin cryptocurrency.
Bitcoin’s allure is still appealing to potential investors. With the crypto world experiencing a massive influx, various strategies exist to sell Bitcoin tokens.
If you want to know more about developments, articles, analyzes and best B2B online trading platform for forex tradingyou can follow some reputable financial newspapers and websites.
Let’s look at four of the best ways to liquidate your coins.
Investors are still struggling to sell their assets. You should be careful before investing taking into account the volatile nature of the currency. It is better to be safe than sorry by deciding to risk only a small part of your wealth.
Bitcoin’s volatility helps both short-term and long-term investors. The higher the risk, the higher the gain if approached with caution. Choosing the right time to sell can be tricky and confusing because Bitcoin is an extremely volatile currency.
Ultimately, Bitcoin investors will have to make choices like two sides of a coin. One is whether to hold on to the currency, patiently preparing for the long term, while the other instinct is to sell Bitcoin for quick returns.
Investors who have the patience for the long grind support blockchain technology. On the other side are those looking for instant success. These investors will aim to ride the tidal wave of Bitcoin fluctuations looking to make huge profits in a short period of time. The volatility of the coin makes it a tricky prospect, but it can also be very effective.
Some analysts recommend profiting from investments when you have financial problems by selling between 30 and 50% of their Bitcoin holdings. It is better to keep at least half of your investment because the possibility that the value of BTC will increase in the future is always there, and you may regret it if you liquidate all your assets.
Another strategy is to play it safe by getting your initial investment back. For example, if your Bitcoin is worth $100, you don’t sell it until its value has doubled, making a profit on an investment where the currency’s further growth potential is still there.
Second, some investors have been loyal to a currency like Bitcoin for years and are reluctant to part with it. They will hold onto it for as long as possible like unfazed misers in the face of major drops in the value of the coin. Their optimism spills over to the fact that more people are looking to invest in the cryptocurrency market.
However, once you have decided to sell, it is essential to know the process. Selling Bitcoin has never been easier and is likely to get even simpler.
Some of the ways to sell Bitcoin are through exchanges, direct transactions, in person or through online platforms.
The easiest method of selling Bitcoin is through exchanges. They act as intermediaries for the trader looking to buy or sell Bitcoin. After creating an account and wallet with the exchange, it will link your bank account details. To send money to another account, you will need the recipient’s public address to send the Bitcoin to their account. The sale is complete when you can transfer the currency to someone else’s account. Coinbase, Kraken, and Bitstamp are some of the reputable exchanges.
If you like a hands-on approach, you can transact directly. This gives you better control over how much to sell at any given time. After creating an account on this trading platform, you will come into direct contact with potential buyers without the involvement of third parties. You can use some reliable platforms such as Coinbase, BitBargain, OpenBitcoins and Bitsquare.
One of the easiest ways to sell your Bitcoin is in person. It’s a popular method of ensuring privacy and is useful for people who don’t have time to go through exchanges or trading platforms. This method is advantageous if you are looking to sell to family members or friends, but can be more complicated when dealing with strangers.
In the case of P2P marketplaces, there is no direct exchange of funds. It brings together people with different needs. This system is ideal for users who want to buy Bitcoin using their credit or debit cards without the need for complex records. Platforms that offer P2P Bitcoin transactions are Brawker, Purse, and Open Bazaar.
Deciding when and where to sell Bitcoin is a difficult question. To benefit from selling bitcoin and be more effective, you need to pay attention to detail.