Bitcoin is good and all, but at some point, for some reason people want to exchange it for a fiat currency (which is in most cases USD).
Bitcoin is becoming more and more widely accepted, but even though this is the case it’s still not a universal currency which means that you can’t always count on it.
This is when you have to sell your bitcoins and make a profit in a currency that is more universally used.
How to sell bitcoins for USD?
There are two main methods to do this. You can either use an exchange or make a direct trade.
If you choose the direct trade route, you will be placing a selling offer and if there is a buyer interested in doing business with you, you will be informed by the site you’ve chosen.
It’s very important to choose a proper site that matches the ease of use you want (especially if you’re not very adept in trading), and of course one that doesn’t require big fees.
For the US one of the most reputable sites that deal with this sort of trading is Coinbase.
The site is exceptionally easy to use which is why it’s gained lots of support and the number of users has grown exponentially over the past several months. The system is simplistic and offers you the option of getting a wallet at the site.
You should know, though, that this method may require some… finesse. People may try to bargain with you in order to get a better price and sometimes they won’t take no for an answer so you need to learn how to handle these situations before you start giving your bitcoins away left and right.
Another approach to the problem can be using an exchange. Once more you will be placing your sell order but this time you won’t have to be so involved in the process – the exchange will take care of the rest.
Unlike direct trading, there won’t be any haggling.
However, some fees shall be present so even though this method might be more comfortable for you, it still has its disadvantages. Where to sell bitcoins for USD this way?
Kraken is one of the most well-known and respected exchanges and it has a variety of different payment methods. Of course, there’s also Bitstamp.
It’s very important to do proper research before you decide to use a service. Conditions change so you need to be up to date.