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5 Professional Tips to Sell Bitcoin

Currencies / Bitcoin Mar 13, 2020 - 08:45 AM GMT

By: Submissions

Currencies

Bitcoin is has become one of the hot topics in the finance industry. Every day more people are embracing Bitcoin as a standard medium of payment since the transaction cost is much lower. Reputed companies like bigX are offering cryptocurrency exchange services to retail consumers and making their lives easier. So, it’s obvious that Bitcoin has become one of the most accredited digital assets in the global market. Buying and selling Bitcoin has never been as easier as it is now today. But there few things you need to consider when intending to sell bitcoins. Let’s explore the professional tips so that you can maximize the profit by selling bitcoins.


Try to sell at a high price

The price of Bitcoin is extremely volatile. Let’s say that BTC/USD is trading at $8000 and you are looking to sell 1 BTC in the global market. So, if you sell 1 BTC, you are going to get $8000. But a smart investor will not sell the BTC without analyzing the technical data. Assume the $8000 mark is the critical support point for the BTC/USD pair. So, it’s obvious that the price is most likely to go higher. After three days, the price you noticed BTC/USD is trading at $9500.
Just within three days window, you are making $1500 more profit while selling the Bitcoin. You should have the skills to find the key point where the price is most likely to drop. Before the price hits the resistance level, you need to sell the bitcoins so that you get a decent deal.

Trusting unregulated exchange house

Trusting an unregulated exchange house is a very big mistake. You might even get scammed. If not, chances are very high they will never give you the perfect price. For this reason, the professional investors sell BTC at bigX since they are well reputed and they always give the best deal to their clients. Those who are dealing with Bitcoin regularly and need to exchange from time to time, must learn about reputed exchange companies like bigX. Never try to sell your Bitcoin to a company that has no online reputation.  Just by making a smart move you can easily save a huge amount of money and stop getting scammed in the online industry.

Search for private buyers

At times you might close to deal with big profit with the help of private buyers. Those who are dealing with a small amount they can sell the bitcoins to the private buyers. But make sure you know the private buyers personally or else you never know whether you will get the money or not. Finding the private buyer might a tough task but if you become an active member of cryptocurrencies trading blog, you are going to find some great buyers who are always willing to buy Bitcoin. Since they have no operation cost they usually give a better rate. However, when it comes to security issues, it's always better to trust the exchange houses like bigX.

Look for bitcoin ATMs

Do you know in certain countries have setup bitcoin ATMs. With the help of Bitcoin ATMs, you can easily sell your cryptocurrency against the U.S dollar. But make sure your transaction is in a secured place or else you might have to deal with some unpleasant events. But if you deal with a small amount of cash, Bitcoin ATM’s might be a perfect solution even though they are hard to spot.

Use an popular exchange house

The best way to sell Bitcoin is in an exchange house. But make sure you are dealing with a legit exchange house. Perform a background check on the company. If things turn out positive start with a small amount of money as a test run. If everything goes according to the plan, bookmark the exchange house website URL for future use.

By Russell Fenton

© 2020 Copyright Russell Fenton - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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