How to sell cryptocurrency fast

Whether you are an ordinary investor or have received bitcoins as a gift, selling your virtual assets can be difficult. While chanting "hodl! constant messages from the crypto community resonate loudly on the Internet, sometimes it can seem like we have been standing still for quite some time. It's time to learn how to sell cryptocurrency fast.

Why sell?

There are many reasons why you would want to sell your cryptocurrencies. There are many services available to exchange your cryptocurrencies for cash. Some traders sell to reinvest in other assets. Others are selling because they need money, and fast.

Whether you want to transfer it to your bank account, convert it to physical currency, or even exchange it for Amazon gift cards, seek and you shall find. The blockchain space is full of projects aimed at improving the trading experience, but the sheer number of options can confuse even experienced traders.

While there are several ways to trade your cryptocurrencies, each has its own advantages and limitations, so setting a goal is key to getting the most out of selling your assets. Also, be sure to learn about the laws in your area regarding exchanging cryptocurrencies for fiat currencies and their tax implications.

What do I need to sell?

Selling is an art that, if done well, takes time. Your belongings are valuable and you don't want to underestimate them. This is easier said than done, especially when you're desperate to sell, but having all the tools at your disposal can make the whole process a lot less overwhelming.

If you plan to use an exchange to sell your tokens, be sure to create an account and follow all KYC and AML protocols that may apply in your region. It is also important to make sure that the token you are selling is available for trading on your chosen exchange, for this use crypto buy and sell signals.

If it's just a few thousand tokens from a giveaway a few years ago, they're probably worthless. Unless you plan to visit your nearest Bitcoin ATM, you'll also need a bank account to exchange cryptocurrency for currency. It may seem obvious, but there are ways to spend cryptocurrency without a bank account. In some cases, this is even a better option.

To sell a digital asset, you must have access to the wallet that holds it. This involves knowing the public address of the wallet and its private key or passphrase, usually a long string of random words. Whether it's a hardware or software wallet, make sure you (and only you) have access to that passphrase. It could be the difference between a small fortune and an expensive paperweight. How to choose the best cryptocurrency exchange for your needs, see this resource.

How to sell cryptocurrency

One of the first Bitcoin transactions was made on May 22, 2010. Known around the world as “Bitcoin Pizza Day”, it commemorates the day Laszlo Haniec managed to buy two pizzas for 10,000 BTC, which was around $80 USD at the time. . Ganech made his offer on a popular bitcoin forum and closed the deal privately with the Briton.

Aside from the fact that those pizzas were delicious and would be worth $200 million today, Bitcoin's value isn't the only thing that's gone up since 2010. Spending cryptocurrency is much easier than it was a decade ago, and the number of platforms available to sell digital assets has exploded in recent years.

Where to sell cryptocurrency

From direct trading to decentralized exchanges, cryptocurrency trading is a hot topic, but the best approach isn't always obvious. While centralized exchanges offer reliability, liquidity and fast order settlement, peer-to-peer exchanges offer anonymity, decentralization and more control over your assets. No one approach is best for everyone; it all depends on how familiar you are with blockchain technology and whether you want the site to handle the technical details for you. It turns out that where to sell cryptocurrency is just as important as when and how. Knowing how to buy and sell cryptocurrency is just the beginning.

Buyers and sellers

Before money, people used a barter system to trade with each other. This system introduced a concept called "matching needs," which required two people to own something that others wanted to exchange.

Although the "medium of exchange" or money solves this problem to a large extent, exchange can still only take place if two people agree. On exchanges, a matching engine sorts bids and asks from the order book to match traders. After trading is completed, the orders are replaced with new ones before the next request is processed.