Everyone talks about cryptocurrencies, what they are, what they are for, where they come from, but currently, many of us are familiar with the term itself, so our doubts are based on two very important questions: where do we acquire them? And where do we sell them?
Even when their value is established by market demand, we must be vigilant and prudent when working with them, for this reason, we have brought a quick guide that will help us discover and understand the commercialization of virtual currencies.
What can you do to sell cryptocurrencies?
When we have invested in cryptocurrencies we want to obtain benefits, to sell them we resort to different methods, either through an Exchange, through bitcoin ATMs or by agreement between users. In most cases, when we talk about selling cryptocurrencies, what we want is to exchange them for conventional money. Where can we start?
1. Through Exchanges
These are online platforms where digital currencies can be exchanged for others, that is, they are real exchange houses, which normally handle cryptocurrencies. However, there are exchanges that also accept real money, which can be taken as stock platforms. These are simply considered intermediaries between the users or entities that directly carry out the currency exchange.
They can also be sold through Bit2Me, it is different from exchanges since this platform has a tool that allows the exchange of bitcoins for euros, which is really useful if we want to know how to sell in Europe.
Even many traditional bank ATMs connected to Bit2Me are used to carry out this type of operations, the normal thing is that if we want to sell cryptocurrencies we have a wallet and an account in an Exchange, which will be linked to a bank account, which allows transferring funds between both platforms.
Anyway, let’s know websites to sell cryptocurrencies, among the most popular:
- Kraken offers a service for the sale of cryptocurrencies that includes interaction with banks, the management of currencies such as the dollar, the euro, and the possibility of acquiring other types of cryptocurrencies. Transactions are made anonymously and the fees depend on the currencies used.
- Bitstamp, is the Exchange with the longest time in the market and has simple forms for the sale of cryptocurrencies, stands out thanks to its security systems, and transaction fees tend to be lower. In this case, the real currency admitted is the US dollar, so if we want to convert cryptocurrencies into dollars, this platform is a good option.
- Bitfinex, is not very famous, even though it also uses the US dollar and charges low commissions, it is known for its high security.
- Coinbase, exclusive only to Bitcoins, uses a notification system similar to banks, second-level, and has low commissions, in addition, it allows direct transactions in Bitcoins and uses dollars as the real monetary currency.
2. Sale of cryptocurrencies through Bitcoin ATMs
Coinbase, exclusive only to Bitcoins, uses a notification system similar to banks, second-level, and has low commissions, in addition, it allows direct transactions in Bitcoins and uses dollars as the real monetary currency.
Currently, the platform in charge of financing Bitcoins has a variety of ATMs throughout the world that allows its users to buy and sell their cryptocurrencies. However, this option is not yet fully globalized and it is very difficult to have an ATM in every corner of the world.
3. Sale of cryptocurrencies between individuals
We can contact our buyers through LocalBitcoins, it is a website with a system similar to those explained previously, with the difference that this time, buyers and sellers make their proposals in quantities and prices to other users. You can also opt for the intervention of an arbitrator for greater security in the transaction.
When selling cryptocurrencies, either in LocalBitcoins or through any other platform, it is important to take into account that the identification processes required in these operations are not similar to those of traditional banks, the same occurs with hedges, if applicable. of hacker attacks, since, although some exchanges establish security measures. In many jurisdictions, the sale of crypto assets is considered either a capital gain or a capital loss. With that being said, it is important to keep up with all the transactions you made so they can be factored in when you calculate your tax refund each year. Moreover, since cryptocurrencies are a fairly new thing in the world of finances, the legislation is constantly changing. Therefore, it may be in your best interest to consult a professional.
How can we buy cryptocurrencies?
Now we are on the other side of the transaction, even though we know that on the internet there are endless options and jobs that pay us in cryptocurrencies, it never hurts to know how we can buy virtual currencies.
Currently, we have many exchange houses to buy Bitcoins, to acquire currencies such as Ethereum or Litecoin, the different platforms, and websites that allow us to carry out these transactions, even if we want to acquire other cryptocurrencies, such as Ripple, Dash, Iota, Peercoin, among others.
Next, we will leave some interesting options, which can be tested safely.
It is an application available for iOS and Android, which offers us an electronic wallet in which we can store cryptocurrencies and gives us the freedom to receive and transfer them to third parties. It also allows the purchase, sale, and exchange of cryptocurrencies.
Another advantage is that it places at our disposal different cryptocurrencies that we can buy and store, to obtain benefits or exchange them for other currencies of interest.
What are the cryptocurrencies that we can find in Hodly? Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, TRON, Ethereum Classic, OmiseGo, Zcash, and Bitcoin Gold, among others.
Navigation is very intuitive, so all the information is within the reach of a click, to carry out the purchase transactions we only have to select the amount to spend and the cryptocurrency that interests us.
Hodly allows you to make deposits and buy with our credit balance, just enter your bank card details in the last step to complete the purchase. In addition, in its option ‘Explore’ we can find the market capitalization of the different cryptocurrencies as well as see the price, the volume during the last twenty-four hours, and graphs that indicate if the prices are rising or falling in real-time.
In terms of security, Hodly works with cold storage, that is, it saves cryptocurrencies offline, also, for greater user confidence, it offers the possibility of activating 2-step verification, to secure transactions with a pin. security what they send to the user’s mobile.
This platform allows you to buy and sell digital currencies, to save them in the broker’s portfolio and use them when and where we want
To buy cryptocurrencies we need to register, in the final step we provide the payment information to confirm the operation, we will require a verified account in the broker to be able to withdraw to our electronic wallet.
When accessing the purchase page we can select between 14 virtual currencies and to buy you just have to choose and establish the amount to pay, we will automatically know the amount with the commission included. Then we just click on buy with VISA / MasterCard, that is, we can buy cryptocurrencies with a credit card.
When the payment is confirmed, the money is deposited in the broker, and to withdraw we must have a verified account. Regarding the conditions of the purchases, the limits are between a minimum of € 10 and a maximum of € 20,000 per transaction, with a commission of 10%.
They have more than a dozen virtual currencies available, including Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin. On the other hand, there are other interesting options such as Bitcoin Gold, Dash, TRON, Ethereum Classic, Zcash, Neo, OmiseGo, EOS, Stellar, and Qtum.
How to withdraw cryptocurrencies? You have to request it on the page and in 24 hours the request will have been processed, the commission corresponds to 0.05% and an extra amount according to the cryptocurrency.
It is an Exchange that allows buying and selling bitcoins quickly and with the security that this type of transaction requires. Currently, it allows you to buy Ethereum, Bitcoin Cash, it is characterized by its simplicity when acquiring and selling cryptocurrencies, since in a few steps it allows you to complete the operation without difficulty.
Another point in favor is that the transactions are 100% secure, and we can buy bitcoins with a credit card, transfer or even with cash. Just as it allows us to collect sales directly from the bank account or collect cash through more than 10,000 traditional ATMs.
It also offers us to exchange our bitcoins for euros and withdraw it at the moment at an ATM, paying a commission of € 1.5. If we choose bank transfer we can buy and sell bitcoins for a limit of € 10,000 per day. In addition, the operation will be carried out in 24 hours and without commissions.
It is a platform and digital wallet where we can store cryptocurrencies, send and receive money and buy digital currencies. We can currently buy more than 20 cryptocurrencies and it has more than 10 million customers. To start, we have to register and connect by linking a bank account or credit card to manage the money. Then you just have to buy the digital currency you want and use it in online transactions. Cryptocurrencies such as Bitcoin, Litcoin, and Ethereum are available.
It is one of the safest platforms to protect both our cryptocurrencies and the efficiency of transactions. Customer funds are stored offline and are also protected by insurance. We can also schedule periodic purchases, check the status of the portfolio, check all movements and carry out operations from the mobile application.
To open an account in Coinbase, it is a requirement to be of legal age and follow different processes to authenticate the account, then we proceed to add the payment method and verify our identity.
When accessing Coinbase we will have a couple of options:
- Buy and sell cryptocurrencies
- Send and request cryptocurrencies to be sent
In case we need to carry out transactions outside the platform, we can do so by accessing the address of the wallet to use it on another site.
It has around 20 digital currencies available. It is a platform that allows automatic exchanges, since it is enough to enter the cryptocurrency that we have available, along with the amount we want to exchange and the digital currency in which we are interested.
The platform will take care of the calculations automatically and allows us to view all the details of the exchange, including the rate, the time it will take to process the transaction and the corresponding commission.
Then only the cryptocurrencies are sent to receive what is required. In a few steps we complete the exchange transaction. To create an account we will need an email address, without entering many personal details as in other platforms. Another advantage is that it allows you to use credit cards to buy Bitcoins.
It is a website where we will find “all in one” electronic portfolio, Exchange and trading platform. To register an email and password are required, then we add our personal and bank details, confirm the identity of the user, we must upload an identity document on the platform.
HitBTC allows us to keep cryptocurrencies stored and safe, and we can carry out transactions whenever we want, exchange them for other digital currencies, we also have a wide selection of cryptocurrencies available.
We can see in real-time each of the quotes and estimates which may be the most profitable options.
The purchase and sale of cryptocurrencies are a fully recognized and accepted activity, therefore, it is relatively easy to find places and platforms where we can carry out this type of activity, no matter where we are, there will always be a website available, some more secure than others, some more popular and others still growing, wherever and however we have the opportunity to interact with digital currencies, therefore, we must be careful.