How to Sell Bitcoin
💡 Daily Reminder: Stay humble, stack sats
Bitcoiners,
At some point, you may want to sell your bitcoin for cash.
Here are 4 ways to sell bitcoin in 2022:
ATMs
In Person
Regulated exchange
Online peer to peer (P2P)
ATMs
There are more than 33,000+ Bitcoin & Crypto ATMs active in the United States. You can find a nearby ATM using coinatmradar.com. Cash withdrawal limits tend to be in the range of $1,000-$10,000 per transaction and fees range from 8% to 20%.
In Person
Find someone locally to meetup and exchange bitcoin for cash. You can find people willing to sell by attending a local Bitcoin meetup in your city. You may be able to sell at a slight premium from the market price because no private information is gathered about the buyer.
Regulated Exchange
Linking your bank account to a regulated cryptocurrency exchange such as River Financial allows you to sell Bitcoin at any time. It may take a few days for the transaction to process and for the cash to appear in your bank account. Fees to sell on exchanges are relatively cheap charging 1% or lower of the transaction amount.
Online Peer to Peer (P2P)
Online P2P marketplaces such as localbitcoins.com connect a buyer and seller anywhere in the world and escrow funds. You can post your bitcoin for sale and accept many different payment methods such as cash, gift cards, stablecoins, or a direct bank account transfer. Fees on P2P exchanges typically range from 1%-10% of the transaction amount.
Happy Saturday,
-Pod
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Eric Podwojski
Founder, Bitcoin EDU
Twitter:Â @epodrulz
Disclaimer: This should go without saying: This is not financial advice. This is not investment advice. I write this newsletter for education and entertainment. Act accordingly.
