Selling Bitcoins – When Is The Best Time to Sell Bitcoins?

The temptation for you to sell Bitcoin, despite the quantity you have in your wallet, will be too much to bear, when the price of Bitcoin rises sharply. Alternatively, there will be people who will sell their holdings at a loss when the crypto currency undergoes a price correction.

With all of that in mind, you need to remain firm while trading Bitcoin and be prepared to see its value rise and fall often.

If you do want to sell Bitcoin, then ensure that you are going to get the best exchange rate possible. That can be done by trading in a Bitcoin currency exchange which charges nominal fees. Ironically, the fees in most exchanges are high.

Cryptocurrency Exchanges Where to Buy Bitcoin

Selling Bitcoin

As the value of Bitcoin has been increasing massively, you may get tempted to sell your holdings for cash. However, when you do choose to sell Bitcoin, try not to jump the gun as you could miss out even bigger payday!

People who have never have sold Bitcoin before may find it confusing, but as long as you have access to a digital currency exchange or a Bitcoin ATM, you will always have plenty of ways to turn Bitcoin into a fiat currency.

Low Transaction Fees

If you have been using Bitcoin as a way of investing and earning money, then you may wish to minimize the fees and charges taken by the exchange while booking your profit.

To do so, you may have to carefully pick the crypto exchange you use to sell your Bitcoin or else you may end up losing a good portion of your profit in the form of fees paid to the exchange.

Fast Payouts

The payout time may vary depending on the mode of payment used. Thus, it is quite important to choose a payment mode, which allows quick encashment after selling the crypto currency.

Person to Person Exchanges

Keep in mind, the best way to reduce the fees and charges while selling Bitcoin will be to sell it to another user of Bitcoin that you know and trust. You can send the Bitcoin to counter party’s digital wallet and receive payment in cash through a spot transaction.

Conclusion

It is impossible to accurately predict a rally or price correction in Bitcoin, as there are several factors which influences its rise and fall. Thus, it is necessary to act quickly after deciding to buy or sell Bitcoin, as the price may not remain near the desired levels for a long time. The fees charged by a crypto currency exchange also determine the final yield from a Bitcoin trade.

Frequently Asked Questions

There is much more to Bitcoin than simply knowing the best time to buy or sell it. Therefore, I will now move onto answering some of the questions you may have about using that cryptocurrency.

Should I invest in Bitcoin?

Are digital currency start ups worth investing in?

Can I send Bitcoin to anyone?

What exactly does a Bitcoin look like?

Further Reading

I would like to point out that I have compiled several additional articles and guides related to Bitcoin. I feel you may enjoy reading it in this website.

So, please do spend as much time as you like looking around this site. A couple of articles that I would like to recommend for reading are “How do I Send Bitcoin” and “Can Anyone Buy Bitcoin”.