So your bitcoin is booming and you want to cash out, but how do you deposit your bitcoin into your bank account?
Selling bitcoin isn’t as simple as buying bitcoin, but fortunately CoinDingo is here to guide you. This selling bitcoin guide will give you all the info you need to cash out your cryptocurrency.
When deciding how to sell your bitcoin, you need to consider which method or methods best suit your needs: selling bitcoin online or selling bitcoin in person are two options but most people want to sell their online for ease. However, each option has its advantages and disadvantages.
Selling bitcoin online
Selling bitcoin online is the most common way of cashing in on your bitcoin. There are currently three ways to go about selling your bitcoin online.
- 1. The first way involves a direct trade with another person you have seeked out online, often with an intermediary facilitating the connection.
- 2. The second way is through an online exchange, where your trade is with the bitcoin exchange rather than an actual individual.
- 3. New peer-to-peer trading marketplaces that allow bitcoin owners to buy or trade for discounted goods with their bitcoin via others that want to obtain the cryptocurrency with credit/debit cards. The two parties are brought together to solve both problems in a peer-to-peer exchange.