Guide: How to sell bitcoins safely and without losing your money?

If you’re reading this article, you’ve probably got some Bitcoins and would like to convert them into hard cash. Or you are a newly minted crypto trader looking for the most simple and secure method to sell cryptocurrencies with profit. Whatever your purpose is, in this short guide we’ll tell you how to find a safe platform to exchange your coins into fiat easily and with the lowest risks. 

H2: Choosing a solid platform

Crypto exchange platforms are working well for converting your digital assets into fiat. Say, if you’ve got BTC as a mining reward, you are likely to have your crypto on a hard wallet. In this case, you’ll need to send them to the exchange account. And we’ll tell you how to find a highly secured one with all the necessary tools for trading and selling cryptocurrencies. Also, if you’ve bought bitcoins on a crypto exchange, checking if it’s secure enough to store your funds will be a good idea. Besides, when you’re going to convert your digital currencies into fiat, the platform should provide you with reliable and convenient withdrawal options. 

H3 Is it secure?

Do you know what is the fastest way to check whether the platform cares about the customers’ security? Check whether they have multi-factor authentication and KYC procedures. Both help to prevent malicious actors (frauds, scammers) from getting access to your funds. 

There is some other info that you can review on your own, like the site certificates, licenses, policies, and so on. Also, don’t forget to check whether the platform is available in your region. Even global platforms, like the CEX.IO crypto exchange, have a list of countries where their services are not available due to local regulations. Meanwhile, they have a site version specially designed for different areas.

To make the life of crypto enthusiasts easier, independent sources conduct their own research into the security measures different platforms implement. You can check the ratings and compare different exchanges to decide which one suits you best. 

H3: Is it convenient?

When you spend hours trying to find the “Sell” button on the exchange site it takes not just your time and nerves, but also your money. As the crypto market is changing dynamically and a profitable price can disappear the next minute. That’s why it is essential for every user to find an exchange with a simple and intuitive interface. Let’s have a brief look at what crypto platforms can offer you today.

H4: Wide range of currencies and markets

In other words, a solid crypto platform will offer you a choice. Today you’re interested in trading Bitcoin, but what if tomorrow you’ll pay your attention to one of the emerging DeFi projects? Most popular sites have hundreds of different digital markets in their arsenal. For instance, you can find around 200 currency pairs on the CEX.IO exchange, including crypto-to-crypto and crypto-to-fiat pairs. 

H4: Easily navigated price charts

Whether you have your own trading strategy or just following crypto news trying to catch the profitable market trend, a simple and detailed price chart is a must-have. Take a short look at the online price chart on a crypto platform of your choice — can you clearly see the current price index and historical changes? Try to switch the currency pair and the time frame. If the chart interface is intuitively navigated, then save it to your browser bookmark. When the time comes to sell your Bitcoins, you’ll analyze different BTC markets (like BTC/USD, BTC/EUR, BTC/ETH) and compare past changes to spot the best moment for your trade. The quickly you’ll be able to do that, the faster you’ll make an informed decision. 

H4: Options for instant purchase and sell

With the rising popularity of the crypto industry, platforms that provide crypto-related services try to make them easy and understandable for everyone. Thus, some of them provide options to instantly buy and sell digital assets. Without even figuring out how to deposit funds to your balance and where to place trading orders. For instance, having the CEX.IO cryptocurrency trading app on your smartphone, you can purchase crypto in a few clicks on the go and pay directly with your card. And if you have some crypto on the account, you can sell it the same way and send fiats to your debit or credit card. Quite helpful in terms of the highly volatile crypto market.

H3: What are the trading fees?

Carefully study the information about service charges and trading fees. Pay attention to whether the platform offers discounts for market-making. If yes, clarify what are the conditions. Keep in mind that some specific services, like instant exchanging, usually involve additional charges.

H2: Selling crypto step by step

Hope you’re not in a rush as we’ll start the guide from small preparations. Yet, you’ll be able to trade and exchange cryptocurrencies easily and in the shortest time. 

H3: Step 1: Open an exchange account

Tip: for registration, use the email address that you always have access to so you will be in the know about platform updates, maintenance, etc. 

H3: Step 2: Secure your profile

Switch on the 2-factor authentication, connect an alternative email address, your social network profile (if possible), and take your time to pass the KYC procedure. Having some basic information about your identity, a crypto platform can prevent unauthorized access and fraudulent activity on your profile. 

H3: Step 3: Fund your balance

Examine the payment options for both cryptocurrencies and fiat operations. Study the commissions and special terms, like availability in your region, network charges (for crypto), additional address elements (destination tag, memo ID, etc). 

H3 Step 4: Analyze the market situation

Take a look at the price chart to decide whether the market situation is profitable or not. Follow the news and read some experts’ opinions on trusted resources. Finally, make your own decision. Still, the crypto market is unpredictable, and no one can know exactly the future turns.

H3: Finally, sell your Bitcoins 

We have already talked about the instant selling options that may be available on your preferred exchange. So, usually the process looks like the following:

  • You choose the currency
  • Enter the amount
  • Click the “Sell” or “Confirm” button 

That’s it. Your transaction should be done under the current market price which you can previously check on charts. 

Another variant is to place trade orders. The most popular order types are market and limit. But before you start, decide in which pair you’ll trade your bitcoins. It can be either fiat currencies (USD, EUR, GBP) or other cryptocurrencies (ETH, XRP, USDT). 

If you place a market sell order, you just enter the number of BTC coins to spend. The order will be filled immediately according to the ongoing price. And when you place a limit sell order, you can decide at which price to sell your holdings. So it will be completed when the market moves towards the rate you’ve indicated. By the way, by placing a limit order you’re likely to create an offer on the market so the trading fee should be lower compared to those traders pay for market orders. Still, it depends on the rules of your platform.

Wish you good luck in selling your crypto! Hope the information in our guide comes in handy.

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