How to sell bitcoins

Agenda

So, before you start looking at the overview of how to sell Bitcoin, first of all, you should understand what Bitcoin really is and some basic facts cryptocurrency in general. Cryptocurrency can be represented in the form of the so-called information exchange, between users, which allows you to buy or sell goods and services. Technically, this can be described as the transfer of a digital signature that a buyer receives on the account. 

One of the most important advantages of working with cryptocurrency, including the use of the so-called peer-to-peer computer network, which helps to ensure maximum security of transmitted data from scam.

Now we should consider the so-called basic properties of transactions during Bitcoin transfers, namely:

  • Irreversibility of transfers
  • Full anonymity
  • Transmission speed 
  • Security from scammers
  • Access rights management

Irreversibility of transfers

The so-called online wallets are certain websites on which traders and ordinary users store their digital money. As we have indicated earlier, such wallets can be very dangerous because of cheaters. Despite the fact that security technologies are continually raising the bar from possible scammers, annual statistics suggest that this is a risk, and accordingly, you can become the next victim of such deceptions.

Since the cryptocurrency itself is based on the blockchain after you have confirmed the transfer of funds to another user, this transaction cannot be canceled. Such a peculiarity provides complete anonymity on the number of transferred currencies and the addressee to whom you moved it. 

However, the disadvantages of this method are that if you mistakenly transferred your cryptocurrency to another user or cheaters stole it; it is impossible to cancel the transaction or track it. This is primarily due to the fact that the security policy is based on full anonymity that is also good protection from scam. 

Full anonymity

That is the lack of data about the final recipient. It is impossible to identify the sender or recipient of such a transaction because most users use the so-called encrypted addresses. Technically it looks like a particular set of characters with a length of about 30 characters that is why the final recipient of the transaction cannot be identified, and the receiving address is missing.

Transmission speed

Since all sales within the crypto exchange market are sent between computers around the world, the speed of transferring and receiving crypto coins is almost instantaneous and generally takes about 2 minutes. Due to the fact that computers from around the world are involved in the transaction, the location of the sender and the recipient does not play any role. This is another advantage that financial analysts distinguish as benefits of cryptocurrency transactions from scam.

Security from scammers

However, according to Tokenexus experts at https://tokenexus.com, it’s still not worth keeping large amounts of coins in such a wallet, as this can become some simple objective for scammers once your phone is connected to the Internet. 

The safety of operations in the cryptocurrency market and encryption methods are based on mathematical models, which is why the so-called cryptographic key provides Bitcoin security from deception. That is why only the owner of such a crypto key has the ability to make transactions with his/her cryptocurrency. Often, this factor is the basis of security from scammers in the transfer of crypto coins. 

 In general, the deception of cryptocurrency system is almost impossible. As the information is initially stored on one server of 1 million computers worldwide. That is why in order to scam the system, it will require the simultaneous deception of millions of computers around the world that in itself seems impossible.    

Access rights management

The user does not need any additional permissions for the sale of cryptocurrency. Basically, the whole thing is that the user needs to download specific software, install it on his computer or smartphone, then enter under his data and enter the address where to send this or that amount of cryptocurrency. 

In other words, to send a certain amount of cryptocurrency, there is no need to request permission from a third party. The great advantage of such transactions is the ability to be carried out in real time, while not paying any additional costs if you transfer the cryptocurrency directly.

Bitcoin working principle

In order not to go into the technical details of the process of selling Bitcoin, it is worthwhile to present it as a large-scale ledger, which is called a blockchain in a professional environment. 

The so-called blocks fix all transactions of purchase and sale of cryptocurrency between users. Each of these blocks is located in a specific system which operates on a peer-to-peer principle. 

In this case, the peer-to-peer principle allows each user to keep track of all his transactions and eliminates the possibility of scam or double spending when the user spends the same coin twice. It is precisely this principle that causes tremendous confidence of all users in relation to cryptocurrency, including Bitcoin. 

After we have reviewed the main points related to what Bitcoin is and how cryptocurrency transactions look like, it is worth considering the question of how much should a user invest in Bitcoin.

In today’s world, investing in cryptocurrency has become very relevant, which is why if in 2019 you ask a crypto investor what the difference between a successful investor and a not successful investor one is, the answer will be quite straightforward. A successful investor is the one who has already invested. 

By this principle, one can understand the following – cryptocurrency market never stands still; it is continuously evolving, and if the investor has correctly chosen the entry point into the market and invested the necessary amount money, then its profitability increases over time.

If you are a novice investor, then you inevitably have questions like how much to invest in Bitcoin, where to buy Bitcoin, how to sell Bitcoin, what strategy should I choose?

In this article, we will consider the basic rules of investing in Bitcoin, as well as ways to sell it effectively and stay safe from cheaters.

Before we begin to consider the basics of investing Bitcoin, it is essential to understand the general principle of investing. It lies in the fact that wealthy people get their primary income at the expense of passive profits. 

Passive income is the cash flow from the investment that the investor receives. You can spend all your life working for a company or a specific person without being able to earn enough money. That is why investing helps people to put specific amounts of money in various financial instruments like Bitcoin, and eventually gain income from the growth of its rate in the cryptocurrency market.

As soon as your passive income becomes more than your expenses, you will no longer need to go to work every morning and worry about your financial results at the end of the month. That is why successful investors allow themselves to travel a lot and engage in self-development and at the same time, earn vast sums of money.

And so before we start, it is worth mentioning some basic principles that will help you to safely invest, avoid scam and get a positive experience from the Bitcoin investment. These principles can be described as follows:

  • Never invest more than 50% of your capital 
  • Do not borrow additional money for expenditures only if this investment is not guaranteed and will very likely pay off due to its profit.

However, the cryptocurrency market is a very risky investment tool. That is why you need to understand that any of your investment in cryptocurrency carries a reasonably high amount of risk. That is why it is worth considering the main factors on which you need to base your decision-making and take into account when investing in Bitcoin.

The risk of loss

The cryptocurrency market is very volatile today, and few people in the world were able to predict the growth or decline of the cryptocurrency market and at the same time not only did not lose a single dollar but also greatly enriched themselves.

Despite the fact that in the cryptocurrency market, there is a large number of successful traders and investors, it is almost impossible to predict or make an accurate forecast for one or another cryptocurrency. That is why any of your investment in Bitcoin should be considered from the point of view that you are ready to lose this money at any moment. 

If you base your investment strategy on this principle, you will be more careful to choose both a market entry point and trading strategies with your cryptocurrency.

The so-called concept of intolerance also causes the risk of loss in the cryptocurrency market. In other words, this means that if you, as an investor, invested a relatively large amount of money in Bitcoin and the coin began to sink sharply, this is due to the market panic factor you may not be able to sell your currency in time and thus be at a loss. 

That is why if you are a novice trader or investor, you need to understand very well the Technical overview of this currency and the situation with this currency. That is why it is essential to invest and buy exactly enough Bitcoin so that its amount does not make you panic and take ineffective decisions at the time of high market volatility.

Estimated profit

It is possible at first glance to imagine that profit sometimes is a so-called investment trap. An investor in a short period of time in the cryptocurrency market can earn significant amounts of money and, as a result, it can play the detrimental role of its investment activity. In other words, you need to understand the specific amount that you plan to earn on these investments and upon reaching which you can withdraw money to your account in time and take profits.

As an example, it is worthwhile to bring the situation with Bitcoin which occurred at the end of 2017. Many investors, seeing the peak price of Bitcoin, decided that the market would grow further and invested all their savings in this cryptocurrency, that is, they bought it and, in fact, at the maximum cost. However, the market soon began to fall. Investors, fearing to lose their money, took a wait.

However, the market did not plan to level off, and the price was falling more and more. But the psychological threshold of investors did not allow them, even with a clear drop in the exchange rate, to withdraw money and fix a minimal loss. That is why most of them lost significant amounts of money and losses that were not fixed for many turned out to be fatal. 

However, some traders invested in Bitcoin as far back as 2015, and when the cost reached a practical $ 20,000, they decided to lock in their profits and sold Bitcoin at almost the maximum price.

Before investing any amount in Bitcoin, think what amount of profit will be enough for you. If later Bitcoin will show a 20-fold increase, are you ready to lock in your profits, or continue to watch the course grow and continue to hope that you will be able to earn even more money. The main rule of investment in the cryptocurrency market is the psychological threshold of the fact that you should not fall in love with cryptocurrency.

In other words, even if your cryptocurrency will show steady growth over a long period, you should not invest 100% of your savings in it.

It is this strategy that will help you minimize the risks of further unrest and fix an acceptable profit that you have set yourself at the initial stage. Even if the Bitcoin rate starts to rise sharply and you start earning and fixing a significant benefit on your account, financial market experts do not advise immediately to make enormous expenses for the purchase of luxury goods. It is this psychological state that is very detrimental to the future investment activity of crypto investors.

Points of entry into the crypto market

Many of us who are interested in the cryptocurrency market or exclusively Bitcoin have often heard about how its price was rising and investors who managed to invest in Bitcoin in the right period of time fixed millions of profits.

However, rarely anyone has heard and read news about how the price of Bitcoin began its fall. Most often, this occurs because in the case of the growth rate, the media very often inflates the hype, and most investors start to follow the general psychological trend of the market.

However, very few people assume and know that coursework ups and downs of Bitcoin had a precise cyclical nature. Very often, these cycles occur in periods of 1 or 2 years. During this time, the course of Bitcoin can smoothly or sharply begin to grow, thereby creating bubbles in the cryptocurrency market. 

However, when these bubbles burst the price of Bitcoin starts to sink very dramatically. That is why many investors believe that putting money in cryptocurrency seemed one of the riskiest investments in the market. 

It is also worth noting that before you start investing in Bitcoin, you need to understand what cycle the price is now. To do this, it is worth to overview the graph of growth and fall in prices on one of the specialized sites that show historical dynamics on the charts. 

You should carefully study the behavior of the price for the last period and track whether the price is now at its peak or has reached the bottom line. If the price could fall to its minimum or is located at the most distant points from the peak price, then perhaps this is the best time period when it is worth entering the market with investments. 

In other words, if the price of Bitcoin now is around $ 6,000 and its peak price was $ 20,000, then perhaps this is one of the best periods when it’s worth thinking about investing.

Investment diversification

If you have decided to invest in the cryptocurrency market, do it only with a certain amount of money. According to the reviews and advice of experienced investors, it is not worth spending the entire amount of all funds exclusively into cryptocurrency.

As you probably know, many traders also invest in oil and real estate or gold. In this case, a detailed diversification strategy helps the investor to diversify the risks in the case of a market fall by one indicator or another. 

For example, if the Bitcoin rate has fallen sharply, then other more stable markets such as gold, oil or real estate investments may, on the contrary, show growth. So the level your losses on the cryptocurrency market will be covered with profits from other markets. 

Therefore, before investing all your savings exclusively in cryptocurrency, consider how you can protect yourself in case of a sharp and uncontrollable market decline. It is this strategy that helps investors to remain unbeaten in risky markets for a long time.

Essential tips on selling Bitcoin on cryptocurrency exchanges

One of the most optimal ways for selling of Bitcoin is its realization on one of the crypto exchanges. However, today there are a lot of crypto exchanges on the Internet, including the questionable ones offering their services. That is why it is essential at the stage of selling your Bitcoin or other crypto money to decide on which exchange to do it the most profitable and avoid scam. 

In other words, there is a particular list of parameters by which it is worth determining the reliability and stability of the crypto exchange on which you are planning to sell. These parameters include the following:

Personal identification

Today, the largest and most popular crypto exchanges in the world allow their clients to perform various trading operations only after passing through the procedure of identification and confirmation of identity with the help of documents at registration.

Such processes are fundamental in order to prevent money laundering, avoid cheaters and thus they at least minimally regulate the cryptocurrency market. Perhaps, on the one hand, this will seem unnecessary to you. You might have heard that cryptocurrencies gained their maximum fame due to the fact that all trading operations are conducted anonymously and information about you as a seller and information about the final recipient of cryptocurrencies remain secret.

However, there is nothing to worry about because all the information about customers and their data, including credit and debit card data or bank accounts for which money is transferred after the sale of the coin, is completely encrypted and cannot be accessed by ordinary employees of a crypto exchange or scammers.

Commissions overview

Absolutely all crypto exchanges charge commission fees for trading operations from their clients. That is why before making decisions about trading on a particular crypto exchange, you need to carefully consider what commission you will pay for your trading operation.

On some exchanges, the sale of a crypto coin is less profitable than on other exchanges. This happens as a result of exchange rate differences and due to the fact that the commission for the chosen crypto exchange may be higher, and this will make your transaction less profitable.

Therefore, be sure to track the commissions that take the crypto exchange and remember that a truly reliable crypto exchange always tries to make concessions to its customers as much as possible and their fees do not make up significant percentages.

Considerable ease of use

Some exchanges such as Tokenexus are very user-friendly, and their interface is understandable even to a beginner. That is why we advise you to trade only on those exchanges where everything will be smooth and acceptable to you, and you won’t make any mistakes.

This advice is very relevant for beginners who can get confused and make irreversible mistakes. It is also worth thinking about the fact that the transactions that you commit to on 100% cannot be canceled.

Payment options for depositing funds

The most serious and stable crypto exchanges have the maximum range of ways in which you can sell cryptocurrency and deposit funds into your account. Most often, this can happen with a credit or debit card as well as standard bank transfer.

However, some exchanges such as Binance allow their users to deposit only the already purchased cryptocurrency into their account. That is why try initially to find out with all the conditions of the exchange and make effective decisions where it is profitable for you and easy to sell your Bitcoin. 

Transactions speed reviews

It is evident that all the exchanges represented on the Internet have their own characteristics and advantages. Among one of the main drawbacks of the trading and selling of Bitcoin on this or that crypto exchange is the speed of trading operations. In fact, this means that after you sell your Bitcoin, the buyer’s funds may not be transferred to your account immediately but within 1 or 5 business days. Therefore, try to take this factor into account in advance.

Crypto Exchange Liquidity Level

This parameter is also fundamental. The bigger the trading volume on the stock exchange, the more favorable is the coin rates. This, in turn, results in selling your Bitcoin at the maximum price.

Reputation reviews

Before you start selling your Bitcoin on the crypto exchange, you need to read reviews about it and make sure that this stock exchange is reliable. One of such secure exchanges is called Tokenexus, that has top level security from cheaters.

After we have reviewed the main features of such a cryptocurrency like Bitcoin, it is worthwhile to proceed to consider all the most efficient and optimal ways to sell Bitcoin in 2019.

Ways to sell Bitcoin

Today, Bitcoin has become one of the most used tools in the cryptocurrency market. The number of users who buy and sell Bitcoin every day is steadily growing.

The largest global companies and technological giants began accepting Bitcoin as a means of payment. So today, it is imperative to know how to sell Bitcoin and where it can be done.

In this review, we will discuss not only how to sell Bitcoin for cash, but also how to get the payment to your bank account or debit card online.

Bitcoin selling options

Every year the number of companies and sites where you can sell Bitcoin is continually growing. Such services contribute to the fact that users can more effectively sell their cryptocurrency and in return, receive cash or non-cash money. 

In order to sell Bitcoin as profitable as possible, it is worth considering the following factors, which in turn will affect your final choice. Among such factors, the following should be highlighted:

  • How many coins do you plan to sell? The more Bitcoin you sell, the more profitable the selling rate and, accordingly, your earnings.
  • The minimum and maximum price. At which rate you are ready to sell Bitcoin. Determine the price threshold for sale and place a sell order. In this case, the sale price cannot be lower than what you indicated in the order.

Among the most popular ways to sell Bitcoin, first of all, you should consider the sale of Bitcoin via crypto exchanges.

Cryptocurrency exchange reviews

In fact, the cryptocurrency exchange acts as an intermediary between the seller and the buyer. In its turn, the seller can declare the amount of Bitcoin that he is willing to sell and the amount he wants to receive for it. 

In other words, the seller claims at the crypto exchange the amount of Bitcoin and the rate at which the sale is the most acceptable. Among these exchanges, it essential to highlight the most popular and effective like:

  • Tokenexus
  • LocalBitcoins
  • CEX.IO
  • Paxful
  • Kraken
  • Coinbase

It is worth noting that before you sell your Bitcoin, you will need to go through the registration procedure. After you authorize your data, you will also need to link your wallet number to your account. Where Bitcoin is stored and the bank account you are planning to withdraw money to.

Special attention should be paid to the process of confirming your identity. This can take up to several days on a particular crypto exchange. That is why it is crucial to choose the crypto exchange at which the registration procedure and confirmation of your identity takes a minimum amount of time. Such a factor will allow you to sell your cryptocurrency quickly.

It is also worth taking into account that each exchange sets its own percentage of fees for trading. Therefore, carefully monitor this information and make only effective decisions.

Next, we will try to make a brief overview of each cryptocurrency exchange at which at the moment it is most profitable to sell Bitcoin. And perhaps our analysis should start with one of the most popular and effective crypto-bourse Tokenexus.

Worldwide connection blue background illustration vector

This crypto exchange is one of the most popular cryptocurrencies in the world due to the following factors:

  • The speed of the operation
  • High daily trading volume
  • A comprehensive list of cryptocurrency offered
  • One of the best security protocols from scammers
  • Positive feedback from real traders

This crypto exchange is, in fact, one of the best due to its versatility. Many users note that the simplicity of operations and the speed at which money is transferred to the seller’s account are among the best to date.

More information about them you can find here: https://tokenexus.com

Due to this, the number of users of this crypto exchange is steadily growing and is confirmed by numerous positive reviews. To better understand why this exchange is adequate, we suggest you consider some of the reviews left by traders and ordinary users about this crypto exchange. 

Tokenexus reviews

I have been trading in the cryptocurrency market for over two years. In my experience, a crypto exchange can affect 90% of the success of each trader. If the trader will be continuously distracted by poor speed, cheaters or there will be delays in the transactions, then most likely, one will not be able to succeed in cryptocurrency trading. Before I chose this exchange, I was trading in one of the most popular crypto exchange in the world. I will not refer to a specific name right now, but this exchange is included in the top 5 most popular exchanges in the world. Nevertheless, my experience with it was very negative. Several times I found myself in a situation when, after the conclusion of a transaction, the Bitcoin exchange rate was sharply reduced, and due to the fact that I additionally paid a commission for the operation, I was twice with negative results.

After that, I decided for myself to find a more optimal and effective option for selling cryptocurrency. For me, this option turned out to be a crypto exchange Tokenexus, and it was here that I understood what efficient crypto trading is. Among the main advantages of Tokenexus, I would like to note the following: the speed of the operation and the number of offers for buying and selling Bitcoin. The volume of daily trading on this crypto exchange is enormous. That is why each trader has the opportunity to sell their crypto coins more effectively.

To date, my results on this crypto exchange can be assessed as very successful. Moreover, the number of coins offered for trading on this crypto exchange is the most optimal for me since here I can trade with the most accessible currencies at an outstanding rate.

I have never found myself in a situation when, after selling a part of my coins, the rate could sharply rise or fall. In this, I see one of the most significant advantages of working with this crypto exchange. When switching to this crypto exchange, I also did not have to deal with the interface for a long time; it was straightforward and understandable. That is why, after the transition to this crypto exchange, I was able to start trading almost immediately. Plus, the commission for trading operations for me was very acceptable.

In the future, I plan to work only with the Tokenexus exchange because the level of reliability and speed of the operation is one of the best. Moreover, I would like to draw the attention of novice traders to the fact that at this crypto exchange, you can easily understand all the operations for buying and selling crypto coins and quickly start trading.

I have been working with Tokenexus exchange for four months, and I am delighted with the way things are here. Most of my acquaintances also trade precisely on this exchange, and this fact became for me the main reason why I chose it. After last year I heard a lot of information that some crypto exchanges faced scam; that is why the crucial thing for me was to choose such an exchange where the security issue comes first. Also, like most traders, I was pleasantly surprised by the fact that during a sale or purchase of a cryptocurrency, the course of a coin is fixed for a particular time, which helps traders to be more confident.

I also want to share my pleasant impressions about the speed of trading operations. Tokenexus exchange provides its users with the opportunity to trade a cryptocurrency without any slowdowns and freezes. Therefore, all trading operations are carried out more clearly and without any problems. It seems to me that at the moment this crypto-exchange is one of the best and most effective among all exchanges. Despite the fact that the most popular stock exchanges most often turn out to be just big names, for which the best service and guarantees do not always stand for. This crypto exchange still confirms its high level.

I don’t remember exactly where I first heard about Tokenexus, but I was surprised that it showed only positive reviews. At first, I didn’t even believe it, and I decided to independently overview both the service of this exchange and the convenience of trading.

I have been selling bitcoin for over two years now. Before that, I tried to trade on a crypto exchange like Binance. I cannot say that my experience was extremely positive. However, the trade commissions that I paid for operations ceased to be profitable for me. That is why I decided to test this crypto exchange and understand how profitable or unprofitable it is to work with it.

From obviously pleasant moments, it is worth noting that the crypto exchange provides an opportunity to trade more than twenty top crypto coins. Before that, I was faced with the situation that some crypto exchanges trade only with a particular pool of crypto coins and in order to trade other cryptocurrencies they had to constantly switch between different crypto exchanges which were not always convenient. At Tokenexus Crypto Exchange, I feel more confident because I have everything at hand. Besides, the majority of crypto coins courses on this crypto exchange often turn out to be better than the average market rate indicated by most other famous crypto exchanges.

I registered on this crypto exchange just a week ago. The registration procedure does not take much time. Now I am testing various cryptocurrencies, and for the time being, I am happy with the course that is being offered here. As an experienced trader, I want to note the convenience and simplicity of the interface of Tokenexus. In the near future, I’m definitely planning to trade precisely here, as for me the speed of operations is optimal. I was also pleased by the fact that all the coins I trade are also here!

Since now, many crypto exchanges are very prone to situations with scammers, and I am completely satisfied with the level of security at this crypto-exchange. I hope that the Tokenexus crypto exchange will continue to provide its customers with such a high level of service and the best course values for the most accessible coins. At the very beginning, I am delighted with the level of fees that this crypto exchange takes for trading operations. Due to this fact, my results are very successful.

Coinbase

This exchange is also prevalent in the world of cryptocurrency. One of its main advantages is that users from 32 countries of the world can use it. Such a vast geography of users is the result of the right level of service and security of trading operations from cheaters. It is also worth noting that the percentage of the commission for trading that users pay is an average of 1.5%. 

Kraken

This crypto-exchange was founded in 2011, and its popularity is based on the fact that there it carries out the maximum number of trade operations for the sale of Bitcoin and the receipt of money in a currency such as a euro. Nevertheless, the exchange also allows its users to receive payment in other most popular world currencies such as:

  • U.S. DOLLAR
  • CAD
  • JPY

LocalBitcoins

This service has become very popular for those users who are planning to sell Bitcoin and get cash for it. Since not all users have access or availability of a bank account. This solution is optimal for some sellers. It is also worth noting that the level of security from cheaters that this service provides is one of the best in the world. 

Paxful

This platform above all tries to ensure the safe sale and purchase of cryptocurrencies from cheaters. Users can negotiate the purchase/sale between themselves. A distinctive feature of this website is also the use of more than 300 different methods of payment for sold Bitcoin. As for the commission of this service, it is one of the lowest paid by both the seller and the buyer. 

Conclusion

Before you make your final choice of exchanges where you would like to sell your Bitcoin, be sure to pay attention to the history of the company itself and also that the reviews about this crypto exchange were 100% positive. 

Very often, crypto exchanges that began their business as top effective services that they provided to their users, later became one of the worst on the market. Usually, this was due to the fact that at first, a company offered some of the lowest commissions but gradually increased them until it ceased to be profitable for absolutely all traders.

That is why when choosing a cryptocurrency exchange it is imperative to understand that during its history it did not have any drastic changes in client policy, as well as a system of increasing commission fees for trading operations.  

Pay special attention to such a crypto exchange as Tokenexus and its reviews here: https://tokenexus.com. This crypto exchange is currently one of the most optimal for both beginners and experienced traders. The level of customer service and the percentage of commissions are the most optimal on the cryptocurrency market. This is the place where you can easily find a buyer for your Bitcoin at the best price.