How to Sell Bitcoin – In the cryptocurrency universe, we no longer present bitcoin. This cryptocurrency is at the forefront of the technological, institutional, financial and economic revolution that is taking place right now. She is, moreover, the instigator. Better yet, as a financial asset, bitcoin turned out to be the one that had the flair or the good fortune to invest in it while it was still in its infancy, realized dizzying profits. Many of them have become millionaires thanks to bitcoin. Experts are clear on this: Bitcoin is one of the most profitable investments in recent years. So much so that for many, bitcoin is now the prospect of a better future. Here is a guide on how to sell Bitcoin.
Should we sell bitcoin?
This question could have several answers depending on the objectives you have set. Many experts, those of the Wences Casares school in particular, will most likely advise you not to sell your bitcoin. Since this is indeed the asset with a strong uptrend, selling could prove to be a regrettable decision in the future.
But the volatility that characterizes bitcoin makes it a financial asset with an interesting prospect of short-term gain. Bitcoin can indeed in the course of the same day record variations of course of amplitude very pronounced. As a result, this cryptocurrency is a prime target for trading. Basically, a succession of sales and purchases in the short term, while taking advantage of market fluctuations to generate capital gains. And if you plan to enroll in this perspective, the very first advice for beginners is to follow the trend. In many cases, she will be your best ally.
The best way to take advantage of bitcoin in the short, medium and long term would be to invest in two areas. In other words, reserve a portion of the capital to invest in the cryptocurrency for trading. AInsi you will have a passive investment that appreciates over time, while having the opportunity, on the other hand, to take advantage of daily fluctuations in the price of this asset to earn money.
Trading strategy
“Buy cheap to sell more expensive”. With such a simple creed, one might be tempted to believe that cryptocurrency trading is just a breeze. But it is very often far from the case. In financial asset markets such as bitcoin, things go fast, very fast, sometimes even too fast so that we have time to react once a trend is launched. The difficulty of trading lies in two points:
- to be able to anticipate trends, be they bullish or bearish
- when to start selling and when to buy
But before we go any further, we would like to remind you that the following lines are only advice based on our expertise and experience in trading. They can not be considered as formal recommendations for investment or action plan. It must be kept that the investment decision must be a personal choice. A conscious and informed choice, to the extent that each trader has his way of seeing the future ..
Anticipate trends
First thing to know, it is quite possible to copy the trading strategy of a successful trader or a trader who inspires you with confidence. The decision is up to you, and it can not be said in all honesty that it is a bad thing. Although many experts castigate, it is also a wise step to copy on those who succeed, especially when starting in the field. But in our opinion, the main disadvantage of this method is the lack of maneuver and visibility it can generate at your level. If all you do is copy, most of the time you will not understand why you won or lost; but most importantly you will never know how to be able to anticipate curves. You will never be independent.
Anticipating the evolution of a cryptocurrency requires several steps, including fundamental analysis. The latter allows you to study the appreciation potential of a cryptocurrency. The only downside is that the universe of cryptocurrency is still expanding and in some cases, the usefulness of the project does not really reflect the behavior of its crypto currency on the market. This analysis could therefore be rather imprecise of the times.
Technical analysis is much more relevant for anticipating trends. In particular, it will make it possible to “read” the graphical representations of the evolution of the price of a cryptocurrency, in order to set trends. Concretely, it comes down to habits in the evolution of a cryptocurrency to be able to determine its behavior in similar situations.
When to sell Bitcoin or buy it?
We will cut short a development too technical and summarize in very simple terms. There is a very common saying in the trading world that says the trend is your ally. So do not try to play the revolutionary by going against the trend. Admittedly, there have already been cases where we have witnessed exceptional reversals that have made incredibly rich the contrarian. But let’s try to stay reasonable, it’s an extremely risky bet. You will have a lot more luck following the trend. This will at least have the merit of ensuring you more frequent winnings.
Following the trend means concretely that you have to buy when the price of a cryptocurrency shows the signs of a real rise. On the other hand, you have to start selling when prices start to fall.
Do not be too greedy either. Do not try to reach the high points of each trend before taking the necessary steps. You might miss your chance to want to maximize your profits.
Sell Bitcoin with Paypal
When it comes to buying crypto-currencies, be it Bitcoin, Litecoin, Ether or others, Paypal is not always the easiest solution. That said, you have three options, two of which are relatively risky.
For one, you can buy your Bitcoins from an individual you found on the LocalBitcoins website. Between seller and buyer, you can agree to use Paypal as a payment method.
From two, you go through a site called VirWox. This platform will provide you with Second Life Lindens that you can pay by Paypal. After, you can exchange them for Bitcoins, then go to another exchange platform to trade your Bitcoins against the cryptocurrency that interests you.
Finally, the third solution is undoubtedly the safest. It involves using a CFD broker such as Avatrade, eToro or BDSwiss.
It should be noted that even if Paypal is both easy and convenient as a payment method, we must not forget that its use is not without risk. Each payment is subject to cancellation
Sell Bitcoin by credit card
One of the easiest ways is to use the services of a broker such as BD Swiss. To exchange a cryptocurrency on BDSwiss using a credit card, you must create a portfolio on the platform and deposit the amount of at least USD 100 per bank transfer. It is this money that you will use later to get the encrypted currencies you are interested in, be it Bitcoin, Ether or Litecoin to name a few.
Do not forget that credit card payments are fast but they are more expensive than bank transfer.
Sell Bitcoin in dollar
In the world of cryptographic currencies, the dollar is a universal currency. All platforms accept it to buy encrypted currencies.
If you want to buy cryptographic currencies with the dollar on the BDSwiss website, you must create a wallet on it and deposit a minimum of USD 100 to buy or sell bitcoin / other virtual currency you need.
Sell Bitcoin in euro
Paying with Euros is very convenient when living in the euro zone. The procedure remains virtually the same. You have to open a wallet, make a deposit and buy/sell bitcoin / coveted cryptocurrency.
Recommendation to sell Bitcoin
Bitcoin has already proven its value as a financial asset with high return potential. In addition, the revolution initiated by the latter has reached such proportions that it is extremely difficult to envisage a scenario in which cryptocurrencies would be absent in the future. And beyond its role as a means of payment, bitcoin tends to become a store of value. For all these reasons, and many more, now is the time to market and invest.
