How to Sell Bitcoin on Binance: Step-by-Step Guide

June 13, 2024 7:02 pm Published by

The device will let you convert bitcoins into cash in just seconds. However, they only work if the machine has been set up with cash and it’s within your geographical area. Once the transaction is complete, LocalBitcoins will release funds to the buyer or seller, depending on who initiated the transfer first. With dedicated support and access to a community of like-minded users, you can take your cryptocurrency journey to the next level. Sell orders can also be made at the current market price or at some predetermined price if the exchange supports them. First things first, sign up with the exchange or crypto platform of your choice.

how to sell my bitcoin on binance

Binance aims to serve both beginners as well as avid crypto traders.

Stop-limit orders allow users to set their limit price for buying/selling a coin only after it has reached a certain price or better and not as a market order. This is the fastest kind of trade order where a user can buy/sell the order immediately at the current market price. Now select Ethereum (ETH) from the drop-down menu to view its wallet address. Click on Copy Address under ETH Deposit Address and paste the address in the Recipient box in your Coinbase account.

how to sell my bitcoin on binance

However, you may be wondering how to cash-out your bitcoin and turn it into cold hard cash. Another option is to transfer your Bitcoin to a crypto wallet that you hold and control. These come in software or app versions or hardware, such as a dedicated USB drive.

how to sell my bitcoin on binance

In this article, we will focus on selling and withdrawing money via credit or debit card and bank transfer. If you want to learn how to sell via P2P, read the Binance P2P FAQ. Paxful is a peer-to-peer marketplace that allows individuals to safely buy, sell, send and receive bitcoin using cash deposit or PayPal as payment methods. The site features over 150 payment options, so any country-specific currency is valid to purchase bitcoins at a low fee. Afterward, you select the currency you wish to receive in exchange for your Bitcoin.

There are two options available – Trade Bitcoin to fiat via Spot Trading (BTC/EUR, BTC/AUD, etc.) or use the Convert function to swap between currencies immediately. This allows the users to buy/sell the token at a specific price or better. In simple words, a user can choose a maximum price limit he or she is willing to pay for a coin and the minimum price at which the user is ready to sell the token. The funds will reflect in your Binance wallet soon after the Ethereum network processes the transaction.

how to sell my bitcoin on binance

On Binance, you can choose between G-mail and SMS authentication methods to receive the 2FA code. Nigerian officials detained both executives on false pretexts of Binance indulging in money laundering in their jurisdiction. While no proof exists, this action is perceived as an extortion attempt. You can convert your Bitcoin into retail vouchers suitable for online shopping, subscription services, or even in-game purchases. They include futures and options – even crypto staking – which may be part of an overall investment strategy. Given its history, many expect it to continue to offer the potential for meteoric price increases (despite its rocky road of volatility).

  • All you need to do is exchange the ETH for BTC, and then you can go about trading as usual again.
  • Once the transaction is complete, LocalBitcoins will release funds to the buyer or seller, depending on who initiated the transfer first.
  • Local Bitcoins also enables users to purchase bitcoins using PayPal for a small fee.
  • When you’re ready to buy Bitcoin, you’ll need to consider where to buy it, how you’ll pay for it, and where to store it once you own it.
  • You agree on a price over the phone or in-person and meet someone locally who will pay for it with real money.

Binance.US, for example, does not charge any fees for USD deposits made using bank transfer (ACH). However, while these apps are typically user-friendly and accessible, some may not offer the advanced trading features available on dedicated crypto exchanges. Online P2P selling is the easiest way to “cash-out” your cryptocurrency. By creating a listing on an online marketplace, you can sell your items in exchange for cash. This process only works when dealing with local traders in your area and can be risky if you don’t know who you’re meeting.

The price fluctuations suffered by Bitcoin and other cryptocurrencies can result in losses for investors. Putting your crypto on the market may allow you to lock in profits, especially during periods of price volatility. While cryptocurrencies like Bitcoin can experience significant price surges, these gains are not guaranteed to be sustained. By selling a portion of your holdings, you can safeguard your profits and mitigate potential losses in the event of a market downturn. As such, many crypto enthusiasts may be eager to explore avenues for converting their digital assets into cash. If you’re wondering how to sell Bitcoin and when the optimal time is to do so, this guide is tailored to answer your questions.

Whether choosing to sell through Bitcoin wallets, crypto exchanges, peer-to-peer platforms, Bitcoin ATMs, or gift cards, each method offers its own advantages and considerations. From convenience and accessibility to transaction fees and security measures, you can weigh these factors to determine the most suitable avenue Crypto Swap Websites for your selling needs. Fortunately, there are now plenty of options for those looking to sell their bitcoins safely and conveniently. Enter the amount you wish to withdraw and fill in the required details. In the next part of the article, we will show you how to sell bitcoin into fiat currency and withdraw your money.

If you live in the UK, is a great place to sell Bitcoin for cash. The website features tens of thousands of classified listings, including ads for people willing to buy or sell digital currency. You can also check out Craigslist and Facebook Marketplace if you want more diverse options. Users who have used CoinBase in the past know that they charge hefty fees when buying and selling Bitcoin, but BitPanda charges a smaller fee.

Learn how to buy, sell, and trade Bitcoin with these helpful tips. Since 2018, we’ve beaten the market with a smart mix of crypto and common stocks. All you need to do is exchange the ETH for BTC, and then you can go about trading as usual again. To view the coins that are offered as trading pairs, navigate to the top right corner of Binance’s trade view screen. While most of the coins are traded against BTC, trading in BNB, ETH, and LTC pairs is quite common on Binance. Once you select the Basic feature under the Exchange button, you’ll see the following screen.

Once registered, access the application dashboard and select “Buy Gift Cards,” specifying the type of gift card you wish to buy. Enter the desired quantity and opt for Bitcoin as your payment method. Next, you use your Bitcoin wallet app to scan the QR code provided by the ATM. After scanning, you wait for the transaction to process, and once completed, you scan the receipt generated by the ATM to receive cash.

For example, if you purchased Bitcoin (BTC) with USD, then sell BTC for USD. If you want to cash-out in another currency like Ethereum (ETH), find a cryptocurrency exchange that trades ETH and trade it there for whatever currency looks good on that day. Whatever method you choose, there are some basic concepts about bitcoin trading and selling that you should know first before making any decisions. Viewing Bitcoin as an investment opportunity means just that — viewing it with the same clarity of purpose and frank assessment of risk and reward as any other investment. This includes examining other options besides just buying, holding, selling, and trading.

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