How to sell Bitcoin for USD
Many of you guys have Bitcoins sitting somewhere on an online wallet such as Blockchain.info, Coinbase, Circle or BTC-e, but you think it is time to cash it out before their value goes down, but don’t know how. We get so many questions from readers, such as “How can i sell Bitcoin for USD?“, “how to withdraw Bitcoins to Paypal?”, “How to sell Bitcoins for cash?“. Well, as many of you may or may not know, there are many exchanges out there that can help you convert your Bitcoins to cash, but most of them are not easy to use, take very long to process, or simply have very high fees. All of these reasons make the exchange very inconvenient for the user.
Of course, we know that converting Bitcoins to other cryptocurrencies is much easier than simply cashing them out. But how is exchanging the King of coins (BTC) to other inferior alternatives such as Ethereum (ETH), Litecoin (LTC) and Dogecoin (DOGE) can be useful if what you need in the first place is to turn them into real money so you can spend it to buy things you want? We all know that the Bitcoin market has not mature yet, that you can buy your groceries, pay your mortgage, buy a car or a house with Bitcoin. That is simply not possible at this moment. So it makes a lots of sense if/when people decide to cash in their coins and turn them to USD.
Worry not! Because we have baked for you a list of the best exchanges out there, that will make the process of withdrawing Bitcoin to cash (via Paypal, Western Union, Moneygram, Bank transfers) as easy as it can be. The following are, in our opinion, the best websites where you can sell bitcoins for cash:
The Best Websites to Sell your Bitcoins:
1- CashMyBitcoin.com is a relatively new Bitcoin exchange, yet it is one of the best places where you can convert your Bitcoins to cash. Trades are completed within 30 minutes, which is very fast. At 5% rate, their exchange fee is among the lowest in the market, which is very hard to beat. Customers don’t need to provide any documents to withdraw Bitcoin into USD, EUR, GBP or any other currency. Many websites will require you to sign up for account and provide so many
personal info, which defeat the purpose of Bitcoin being an anonymous decentralized currency.
Unlike those exchanges, this website requires no sign up, so you can quickly and easily
turn Bitcoin into real money. They have a maximum order of 10 BTC.
2- LocalBitcoins.com: Probably the largest website that can facilitate buying and selling Bitcoins using many methods such as: Reloadit cards, Vanilla, Moneypak, Western Union, Moneygram, Cash Deposit, Perfect Money, Paypal My Cash cards or even Cash in Person! Trading is done by the users, not the website itself. The user can post their ads, and others will approach them and open a trade with them and it goes from there. As a user who wants to buy or sell Bitcoins, you have the freedom to state your exchange fee as well the method of payment. The lower fees you ask for, the greater your chances are to make a trade.
3- BTC-E.com: Is one of the big boys in the block. They offer many options, such as: ability to buy Bitcoins via many payment methods such as: Western Union, Bank transfer, Paypal (small amounts only). You can also exchange your Bitcoins to other alternatives such as NMC, PPC, LTC or ETH. Users can also sell bitcoin for Paypal, Wire transfer and WU. All of this is good and dandy. The only thing is that the sign up process is not that easy, and they require just too many documents for verification purposes in order to withdraw Bitcoin into cash. The whole sign-up process can sometimes take a couple of weeks, which is a big inconvenience. You should expect to be charged a fee for every transaction you make including withdrawals.
4- Bitstamp.com is the second largest exchange, thanks to the huge popularity it gained since 2013. Maybe that’s due to the misfortune that stroke Mt.Gox. Bitstamp allows users to trade between USD, EUR and bitcoin cryptocurrency using mainly wire transfers. Just remember being the largest does not always mean being the best.
5- Ebay: is the place where you can buy and sell virtually everything, and that includes Bitcoins. It is now, easier than before to buy and sell Bitcoins on ebay, but you should be extremely careful, because there is just too much scams going on. For example, some one can buy your Bitcoins using a hacked Paypal and ebay account, if that happens, chances you will be hit with a chargeback if the original account holder disputes the transaction. This means that selling Bitcoins on ebay is essentially much riskier than buying them. Bitcoin sellers usually put many restrictions, to limit the risk as much as possible, including: limiting the maximum amount of BTC you can buy, deny selling to brand new customers…etc.
PS: Since Bitcoin transactions are irreversible, we recommend that you do your research before you do business with any of these websites.
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