If you want to sell bitcoins for cash, you need to get ready for a bumpy ride.
Or it can be as easy as it gets. It depends on whom you’re trading with, really.
On one hand, you can trade with people you know.
This is the best and easiest way of selling bitcoins for cash. People you know will (most likely) not try to cheat you or rob you, and you can (in most cases) trust them.
If you know someone who wants to get some bitcoins but they don’t know how, you can help them by either explaining the different methods of buying bitcoins with a credit card, how to get bitcoins with PayPal or how to mine. Or you can simply sell them some of yours and make a nice profit so everybody wins.
How should you proceed? We assume that you want to be fair and accurate so you and the person you’ll be selling bitcoins to should have a look at the current price.
Then you will set them up with a wallet and send them the bitcoins while they pay you in cash. Thus you won’t have to use exchanges and pay fees in order to get fiat money for your bitcoins, and they won’t have to go through all the entire process of buying bitcoins (which can sometimes take a while).
It’s what you may call a win-win situation.
Sadly, you can’t always trade with people you know but if you still insist on selling your bitcoins for cash, there are other ways. You can use LocalBitcoins which is a marketplace for people who are looking to do the same.
You can use Western Union or schedule a meeting to sell your bitcoins in person. The site is pretty good and the rating system will come in handy for learning whom you’re dealing with.
If a person has had many different positive reviews, then they’re probably worth dealing with and if they don’t have any reviews, you should probably avoid them or at least be extra careful.
If a person doesn’t have any reviews, they might be new to the system, but you still need to be careful.
In case you decide to meet them in person, choose a public place with many people around and be sure to bring a friend or two (the more formidable, the better).
This may sound like a movie to you, but is actually pretty serious. You really need to take care of yourself.