Blockchain.com, the world’s leading software platform for digital assets, has announced that users in 22 US states will be able to sell Bitcoin quickly and easily. The company had earlier announced a partnership with SFOX to lay the groundwork for the users in the US to seamlessly buy and sell crypto assets without compromising on security or control.
As of date, the company is only providing a facility to sell the Bitcoin holdings. However, a facility to buy Bitcoin and buy/sell other crypto currencies such as Bitcoin Cash and Ethereum will be brought about soon.
To begin using the facility, the US residents should set up an account by verifying email address and mobile number. The user should then complete the KYC procedure by submitting the necessary documents. Once that gets completed, the bank account of the user should be linked. If you login to the bank account through the blockchain wallet, then the bank account will get linked straightaway. If you enter bank account details manually, then SFOX will send two micro-deposits to your bank account. The exact amount received in your bank account needs to be entered to link the bank account with the Blockchain.com account.
Once the bank account is linked, the ‘sell Bitcoin’ button can be used to commence a sale transaction. The website will display the sell price and the amount that will be credited to your bank account. Order history tab will display the status of the transaction.
Currently, users in the following states will be able to use the facility:
Arizona, California, Colorado, Delaware, Idaho, Indiana, Illinois, Kansas, Kentucky, Maryland, Maine, Massachusetts, Michigan, Missouri, Montana, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Utah, and Virginia.
The UK-headquartered company has plans to expand to other states in the future.