How To Sell Bitcoin In Nigeria At Best Rates in 2023

Whether you want a quick and simple method or a slower but more private method (like using a peer-to-peer marketplace or a bitcoin ATM), we’ll show you how to sell bitcoin. Knowing how to trade bitcoin is fine, except that it doesn’t let you actually use the profits that you’ve made — and that can be frustrating if you’ve got a lot of capital tied up. To help make this process easier, this article will show you how to sell bitcoin. Bitcoin futures are a legal contract that allows you to buy or sell bitcoin on a specific date, for a specified amount. When a bitcoin futures contract is taken out, the buyer commits to buying an agreed quantity of bitcoin at an agreed price on a particular date.

The easiest way to Bitcoin is by using an online Bitcoin exchange. Naturally, we recommend using the Kriptomat platform. Buy crypto, grow your assets and manage your transactions in one single app. Buy, sell & manage your Bitcoin and more crypto assets with one single app – Ledger Live. From Satoshi’s white paper in 2008 to the financial phenomenon it is today.

Bitcoin futures

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly WAVES due to leverage. 78% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

A bitcoin transaction on Breet takes about 5 to 15 minutes. It is affected by factors such as total blockchain network activity and transaction fees used when sending the bitcoin. To keep it simple, once you register on Breet, you are entitled to your unique bitcoin wallet address. Best application for trading your Bitcoins with ease, reliable and fast In payment. I was also happy with the rates, in short I am impressed and I wish to introduce my friends to this.

Bitcoin

This means that you don’t need to make double exchanges from token to ETH, and then from ETH to euro. Let’s take a look at the entire process for selling Bitcoin where we consider that you don’t even have a user account yet. If you already have one, then you can jump directly to the instructions for selling Bitcoin.

Knowing when to sell your crypto is very important because if you sell your bitcoin at the wrong time, it can lead to a loss of profit and sometimes even your capital. When you don’t know how to trade bitcoin in Nigeria with great trading strategies, one of the mistakes you’ll be making is selling them at the wrong time. The funds will be reflected in your bank account after confirming the transaction.

We’ll https://www.beaxy.com/ your BTC in JPY right away, then transfer the funds to your designated bank account in Japan. First of all, remember that the amount of Bitcoin you have will make a big difference in how you can cash out. For small amounts of Bitcoin, you can simply sell it on an exchange or to a person you know who is also interested in cryptocurrency. However, for larger amounts of Bitcoin, you may need to use a specialized service that can help you convert your Bitcoin into cash without incurring high fees.

We hope that we have successfully explained how to sell Bitcoin in the most simple and secure way. Hopefully, you now have a better understanding of how to trade Bitcoin. Return to the Bitcoin ATM and withdraw your money by scanning the receipt. Enter the recipient’s Bitcoin address and the amount of Bitcoin you want to send.

We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Make sure your cryptoassets are safe with these simple tips. Click “preview sell” to preview the sale and then “sell now” to complete the sale.

Futures contracts were initially created to shelter traders from price fluctuations that exist in commodity markets. However, the availability of a futures contract soon developed past commodities. Futures contracts can now be accessed from several asset classes, including cryptocurrencies such as bitcoin. Futures are, however, a complex financial contract and may be better suited for experienced traders. Exchanges that support the sale of bitcoin have an added level of complexity compared to buying and owning bitcoin. Bitcoin traders who speculate that the bitcoin market will fall can open a short position.

No matter your reason for buying or holding crypto, there often will come a time when you need to sell it for cash. You may need to purchase something, pay a bill, or reduce your crypto holdings. With Binance, there are multiple ways you can turn your bitcoin into fiat without much fuss or hassle. Following our guide on how to buy Bitcoin, we’re back again with the list of available options for converting BTC into fiat currency on Binance. We learned that there are many different services that you can use to sell Bitcoin and a number of other cryptocurrencies. Which Bitcoin trading platform to use is now up to you.

Ways You Can Sell Your Bitcoin Into Cash: A Quick Guide from Binance

If you reside within the EU, Coinmama gives you the option to sell your Bitcoins via a SEPA transfer. The advantages of SEPA are quick and relatively cheap transaction times. The fee for withdrawing funds to a card can range anywhere between 1.2%-3% depending on the card type. I won’t go into detail about this one since it’s different for each country.

There may be restrictions in certain countries as to whom may acquire cryptocurrencies. Mt Pelerin does not offer services in relation to cryptocurrencies to US persons. Connect your wallet, choose the destination bank account and confirm the sale.

P2P trading allows you to sell cryptocurrency without the limits of an exchange. A bitcoin options contract provides you with the option to buy or sell bitcoin at a specified price within a specific date range. Options contracts are recommended for advanced traders due to their level of complexity and the use of leverage. They are, however, a flexible option for short selling bitcoin as you only initially risk the options contract premium. For a quicker, more anonymous method, you can use a peer-to-peer platform to sell bitcoin for cash. When selling bitcoins to other people, you can decide which payment method you want the buyers to use.

When owning Bitcoin, at some point you could want to cash out part of your cryptocurrency to get back some cash or to withdraw some profits. There are different ways to sell your Bitcoins online, such as exchanges, direct trade or carry out a peer-to-peer transaction. You could also withdraw fiat money by using a Bitcoin ATM, or sell Bitcoin in person.

However, there are a few things you should keep in mind before turning to an OTC broker. First, make sure that the broker is reputable and has a good track record. There have been cases of fraud when brokers took advantage of unsuspecting investors. Some brokers charge high commissions, so it’s important to compare rates before making a decision. Finally, remember ETC that OTC brokers are not regulated by any government agency, so there is no guarantee that your investments will be safe. KuCoin is another exchange where you can sell your Bitcoins.

However, they must borrow the how to sell btccurrency from a broker or another willing lender. Once they borrow the bitcoin, they sell it immediately. Some traders that short bitcoin expect cryptocurrencies to be a short-term trend and hold bearish sentiments towards the bitcoin market. These short-sellers tend to stay up to date with the latest bitcoin and blockchain advancements and not let opinions interfere with their objectivity. When shorting bitcoin, the aim is to sell the cryptocurrency at a high price and buy it back at a lower price. Unlike most traders who like to buy low and sell high, short sellers adapt the order of this philosophy and aim to sell high and buy low.

• One needs to study the market and understand the factors affecting the price of Bitcoin before making any decisions.
• The ‘exchange rate’ for this currency exchange is not determined by the economic actions of a government or a country’s central bank.
• In the example above, we sold Bitcoin while considering that we already have them on Kriptomat’s digital wallet.
• With Binance, there are multiple ways you can turn your bitcoin into fiat without much fuss or hassle.
• Withdraw your money as cash, transfer into your bank account or through a third-party platform.
• I sent litecoin to the address provided and I was waiting, before I knew it, I already got the alert in my bank account.

The most common method of shorting bitcoin is through a market exchange that accepts the shorting of bitcoin. Many exchanges support the shorting of bitcoin such as Kraken, Bitfinex and Bitmex. However, learning how to sell bitcoin, when to sell and where to sell bitcoin in Nigeria legitimately is very important if you want to make a profit trading these digital assets. One of the fundamental rules while trading your crypto, including bitcoin, is to sell high and then buy back when it is low. However, sometimes, the Fear of missing out makes some crypto investors sell their bitcoin when they are supposed to hold on and then buy when it is high.

At times when the market is particularly volatile without reason or prediction, it can be best to withdraw from making any trading decisions unless they follow your trading plan. Read more here if you need help on creating a trading plan template. Evident from its history, the price of bitcoin can appreciate as quickly as it depreciates. Traders with a high-risk appetite are drawn to volatile assets that have the potential to reap huge rewards, or equally huge losses.

Although the bitcoin market is relatively new and lacks the historical value of other assets, it is possible to apply fundamental analysis strategies to the cryptocurrency. Some traders short assets to hedge the risk of their larger portfolio. For example, if you already hold bitcoin but you suspect it is due to fall in the short term, you may decide to open a position to short sell bitcoin. If you are correct, the profit from your short position can reduce or exceed your loss from your long position. View offers for all payment optionsto see the list of all payment methods available. Once you receive any bitcoin in your Breet wallet, Breet will automatically convert the bitcoin to Naira or Cedis .