There are things that you need to know about selling services via Bitcoin, and they are very important to remember. I will be discussing how to purchase Bitcoin and also how to sell them, with the help of the information I will be giving you it will help you greatly if you either want to sell or purchase Bitcoin. Let s start with how to purchase Bitcoin, shall we?
How to Purchase Bitcoin
Before we get started discussing how to buy bitcoins, here are some quick tips for you:
- When installing a bitcoin wallet, remember to install one that is also available offline and also make sure that you put in a strong password so that you can protect it.
- Pick one that is highly recommended by other users.
- You should choose a payment method that you prefer.
- Buy yourself some Bitcoins!
Find a Good Bitcoin Wallet
The digital wallets that exist in this world are used to keep the Bitcoin until you decide to spend the Bitcoin or even exchange for other currencies. These wallets range in their terms of features, the platforms that these wallets can be used on, and the security, so it is very important that you choose a digital wallet that works and suits you.
A way that you can get started is by using a digital wallet that is not linked to any exchange, so that way if ever the exchange that you want goes down or even becomes rammed with a bunch of traffic, with this you will still have ready access to all your Bitcoins.
The Right Bitcoin Trader Should Be Chosen
Exchange is a really good place to make your first-ever purchase of Bitcoin. There are thousands of different exchanges out there in the world, with also varying performance. Some of them are not that trustworthy than the others, and there are also some that are quite limited, so it is also very important that you pick an exchange that is right for you when you are starting. Even though there are some that aren’t really trustworthy out there, there are also some that you can really trust and have good reviews from other costumers. So, you won’t need to worry that much.
Select One of The Payment Methods
The exchanges accept a lot of different payment methods that are based on what you want to use. This is kind of a sore point for a lot of exchanges. There are some payment options that are used so that the sellers could be scammed for just a quick buck back in the past. Some websites allow both the bank account and card’s debit and credit transfers for every payment, and a single payment solution should be linked onto your account before you can make a trade.
Buy Yourself Some Bitcoins and Keep Them In A Wallet
Exchanges give you the information you need to know how much or how many Bitcoins you can purchase for a specific amount of money. One thing to keep in mind though due to its volatile nature, the prices of the Bitcoin can dramatically vary by the exchange from moment to another moment. This means even if you have plenty of cash to burn off, you will just probably be buying a Bitcoin’s fraction. There is nothing wrong or bad about it, and a lot of people tend to go for this route, and they will go down like a little, but wealthy people can purchase more than that.
Be Ready to Use Your Bitcoin
Whether you are planning in ultimately selling your Bitcoins or use them so that you can see the thing that you desire, you should be ready to do it at a notice of the moment. The way the value of Bitcoin fluctuates, it is important that your end game should be ready and planned out very early. You should prepare setting an account for selling purposes now or try to figure out how you can but what you desire before you actually try to plan it out. With that, when the time has come, you will not experience a panicked rush while other people are trying to do what you are doing.
How to Sell Bitcoin
Setup Your Exchange Account
It is very simple to turn the bitcoins that you have earned to real money through a trusted exchange platform. These act as the middle man of the popular decentralized cryptocurrency by your bitcoins being sold. There are ones that are really popular and very well established, so I recommend those kinds of platforms.
It is very easy to sign up for your account on these platforms, though there are also some steps that you will have to run through. This will depend on what country you are in right now. You will need to comply with the different forms of their rules called “know your customer,” which probably means that you’ll be sending the website a certain form of your ID. Processing this may take some days.
One that you have created your account, you should link that bank account of yours to the platform so that when you make trades, you’ll get all of your cash with just a little hassle in every possible way.
The Bitcoin Earned Should Be Transferred to You Exchange Wallet
Now that you have kept your Bitcoins in a very secure wallet, you will need to send your Bitcoins to a wallet of exchange and store it there and ready for some sales. For beginners, there are exchange wallets that work in simple ways, so if you do not have that much knowledge in things like this, these wallets are the ones for you.
Now Place Your Sell Order
Now that you have your exchange account ready, your bank account is linked, and the Bitcoins that you have deposited to the exchange, it is the time that you make some sales.
Thank you for reading, and have a nice day!