The last year or so has been an incredible growth period for Bitcoin and crypto in general.
We’ve seen multiple new record highs in price, and the level of corporate adoption and mainstream media coverage throughout the UK and elsewhere is mindblowing. With so many people in profit and seeing massive returns, the question is on everyone’s lips — where can I sell my cryptocurrency and digital assets online?
Well, if you want to manage Bitcoin and sell your crypto, you’re in the right place!
Where to Sell Bitcoin Online
The best place to sell Bitcoin and digital currency online is a crypto exchange.
Before we get into our list of recommended exchanges, let’s dig into some general information on Bitcoin.
How to Sell Bitcoin Fast
Bitcoin isn’t like regular (fiat) currency or assets. Unlike the banking system, BItcoin can be sold at any time of the day or night, 24/7. You don’t need to wait for banks to open — the Bitcoin network is always operational, as are the online marketplaces and secondary market where Bitcoin is sold. Virtual coins can always be traded on an exchange at any time.
To sell Bitcoin fast, you can exchange it for cash at an exchange and then cash out to your bank account. In fact, with exchanges like CryptoWallet, you can even use a crypto debit card to withdraw crypto as cash or spend it directly in stores or online! A crypto debit card is the fastest way to sell Bitcoin or Ethereum and other crypto assets.
Sell Bitcoins Around the World
Bitcoin is worldwide. The price of Bitcoin is the same in every country, and exchanges operate all over the globe. While some countries have more welcoming attitudes towards Bitcoin than others, you can still sell Bitcoin in almost every country there is.
Your success in investing in crypto is not limited to your location, but to your mindset. Expert advice from CryptoWallet’s academy always helps to develop a common strategy, and the more research you do, the better prepared you’ll be. You’re not just limited to Bitcoin when it comes to trading pairs– you have many investment choices for active trading.
Understanding the Types of Crypto Exchanges
Different types of exchanges have different rules. Some exchanges involve dealing with customer support staff and regulators, while others are essentially automated with no human staff.
Centralized exchanges operate much like a regular currency exchange. You have human staff performing various tasks, and customer support teams can help you if something goes wrong. On the other hand, these staff could freeze your account in the extreme or unlikely circumstance that your funds are deemed to be illegal, or for other reasons.
While users can send and withdraw their crypto as they see fit, the “keys” or password to the cryptocurrency are technically held by the operators of the exchange. You’ll often need to register your proof of identity with these exchanges to prevent crypto scams and money laundering.
A decentralized exchange is a piece of software that operates on a blockchain network. Blockchain technology is also what powers Bitcoin. Essentially, data is hosted by a group of computers in different locations rather than in one central server farm. This makes it very difficult or even impossible for a government, regulator, or anyone else to shut down those computers and prevent the exchange from operating.
These exchanges are typically automated, meaning there are no human staff behind the scenes. The “keys” or passwords to your crypto are not shared with anyone, and nobody can withdraw or freeze your funds other than you. You don’t need to register proof of identity with a DEX, as it’s a peer to peer marketplace with no middleman. Of course, if there’s an issue, there are no customer support staff on hand to help either. Your funds are not stored in custodial wallets, so there are no protections in place if you lose funds.
CryptoWallet is a complete crypto-banking solution and centralized exchange. You’re given a digital wallet for hundreds of cryptos like Bitcoin, Ethereum, Litecoin, Ripple, and Tether. You can use the exchange to buy or sell funds right to your digital wallet, but that’s not all!
CryptoWallet users can earn passive income in crypto, pay bills in crypto, and even spend popular cryptocurrency in stores or online using the crypto debit card.
ShapeShift is a well-known cryptocurrency exchange founded in 2013. Over 50 cryptos are supported and the exchange has developed a solid reputation over the years. ShapeShift supports instant swaps within the exchange and supports debit cards as a payment method.
Cash App is a payment solution that mainly handles fiat currencies like USD, but recently adoption Bitcoin as well. Cash App is one of the easiest ways to sell Bitcoin online, although fees range from 1.5% to 2.3% which is well above the average rate for a crypto exchange. Many payment options are available.
Coinbase is another convenient method for selling Bitcoin, and again, the convenience comes at an added cost. You can trade over 50 cryptos on this exchange, with a crypto wallet dedicated for each one. Fees average at around 1.5%, or higher for credit card or debit card transactions. Bank transfers are the cheapest way to withdraw Bitcoin as cash.
Binance is one of the largest exchanges in the world with a huge selection of cryptocurrencies — around 200. The fees are also very competitive, coming in at around 0.1% per trade. The main drawback of using this exchange is that the customer support is highly lacking — many customers have filed lawsuits over sub-par or nonexistent customer service resulting in lost funds. Binance no longer supports withdrawals to GBP accounts.
How to sell Bitcoin
Use CryptoWallet to sell Bitcoin and Ethereum along with 3 other cryptos in your online wallet. Even better, simply withdraw your crypto as cash from an ATM or spend it in stores directly using physical cards! Order your crypto card here.
How to negotiate the price
To negotiate the price of Bitcoin or other trading pairs, place a limit order rather than a market order on a crypto exchange. Not all exchanges support this feature. With a limit order, you set the price and hope somebody will buy your crypto at that price. This is also the cheapest of the two order options. Of course, your current price should be near the current market price if you want to trade and get returns on investment, and fluctuations in price can make it difficult to use limit orders sometimes.
Which cryptocurrency exchange is best for beginners?
CryptoWallet is highly beginner friendly and comes with on-screen instructions, and it was made with beginners in mind. Coinbase is also beginner friendly. Using a reputable wallet and exchange is important to protect your funds, as your digital currency is only as safe as your cryptocurrency wallet or software wallet.
Are all the top cryptocurrency exchanges based in the United States?
No — top exchanges are based in Estonia, the U.K., Seychelles, Switzerland, and many other countries around the world. Institutional investors make financial decisions to use different exchanges and services in different countries to manage their crypto investments and investment strategy.