The key problem is choosing a right site. Novice users do not know where to sell cryptocurrency, how to find and calculate the cost so that the transaction is the most profitable.
Another problem is that newcomers do not know how to choose reliable platforms and exchanges to buy digital assets. In this article, we will talk about where to buy and sell cryptocurrencies most profitably.
How to sell cryptocurrencies for USD, EUR and other currencies
There are several ways to sell cryptocurrencies. Every method has its pros and cons. But it is important for us to determine the most reliable way to get profit.
Cryptocurrency exchanges provide a possibility to exchange digital assets at a market price. If you don’t own a private key, then you don’t actually own a cryptocurrency.
Disadvantages of this method are as follows:
- You have to do a lot of things. First, you need to replenish the your exchange account balance, sell the cryptocurrency, and then withdraw it paying a fee.
- The duration of the transaction increases. If you exchange Bitcoin or Ethereum, you will have to wait for two or more hours in times of high load on the blockchain network. You will have to wait both during the deposit replenishment and during the withdrawal.
- Withdrawal fees can range from $5 to $20 depending on the exchange, which is not suitable for exchanging small amounts.
- To exchange for fiat, you may need to pass the KYC procedure.
All crypto exchanges are divided into two types: centralized and peer-to-peer. In the first case, you buy cryptocurrency from an exchange that uses its own monetary reserve. P2P exchanges allow direct exchange between users, and the platform itself acts as an intermediary for transactions.
Centralized exchangers are most convenient because money is immediately transferred to your card or wallet. P2P exchanges may require you to make a deposit before you can exchange for currencies, as well as to pass identification.
The only drawback of exchangers: the exchange rate is less favorable than on exchanges, or you will need to pay a fee. But this is the fastest and most convenient way to exchange cryptocurrencies.
These are basically ATMs for cryptocurrencies. They can be used to buy cryptocurrency with payment systems, bank cards, and cash. But the exchange cost will be high, so this is the least profitable method. In addition, Bitcoin ATMs are few and far between. Most of them are located in the USA and Canada.
Bitcoin ATMs cons:
- Unfavourable exchange rate;
- Physical presence required;
- It is risky to exchange large amounts.
As a rule, cryptomats do not require identity verification, but they are equipped with video cameras, so you will not be able to exchange cryptocurrency anonymously.
Through an individual
This method allows you to find a buyer for a profitable sale of cryptocurrencies, bypassing exchanges and other intermediaries. You are looking for a buyer yourself and agree on the terms of the transaction that will be beneficial for both parties.
- This is the most risky method, especially if you do not know the buyer personally. No one will insure you against robbery or fraud.
- It may take a long time to find the right buyer.
- Physical presence is required.
Where to sell cryptocurrency
We talked about the main ways to exchange cryptocurrencies. Now let’s look at popular services for buying and selling digital assets.
Binance crypto exchange is one of the most popular online platforms for exchanging cryptocurrencies. Here you can instantly sell cryptocurrency, if the deposit is replenished.
But after exchanging cryptocurrencies for USD and other currencies, you must pass mandatory identity verification to withdraw funds. If you care about anonymity, then this is not the best way to sell digital assets. Despite the high security, there were leaks of confidential data. Exchanges are profitable for those who regularly trade or invest in cryptocurrencies for a short period of time for a quick sale.
A popular crypto exchange based in Israel. It is distinguished by high security and privacy standards. The Coinmama exchange allows you to quickly buy and sell cryptocurrencies, and the service itself is available in more than 188 countries around the world.
A significant disadvantage of this platform is high fee. When exchanging for fiat, you will have to pay at least 6% of the transaction amount. This is a safe way to sell cryptocurrency, but not the most profitable one.
The Changevisor service is not an exchange as such. It tracks the rates of various exchangers and sorts them in a list. Users can filter the results by the specified parameters by selecting the desired exchange direction, for example, BTC-PayPal or ETH-Payeer.
This method allows you to find the most profitable exchange rate for selling cryptocurrency. You do not have to search for the right exchanger yourself, check the Internet for information about its reliability and compare prices of various exchangers – this takes a lot of time. In addition, you may miss out on exchanges with a more favorable rate while doing that. The Changevisor service provides a list of reliable exchangers. On the site, you can read user reviews for each exchanger to assess its reliability and speed of exchange.
Now you know how to sell cryptocurrency with profit and with the least effort. To exchange via crypto exchanges and popular exchanges, you will need to register an account and fill in your personal data. When choosing an exchange using the Changevisor service, registration will be easy or not required at all, so you can sell digital assets as quickly as possible.