Cryptocurrency has been a popular investment vehicle for many years now. It uses blockchain technology as a foundation for valuing and trading digital currency. This year, investors and organizations across the globe are still eager to invest in and own cryptocurrency. And to sell it for fiat currency when the time is right. Top cryptocurrencies have delivered impressive gains so far in 2023. Although experts have warned investors to take a cautious approach in March and beyond.
When the economic market turns bearish in the short term, transferring your assets into cash or stablecoin can help to mitigate your risk. It will also protect your money and enable you to invest in stronger performing cryptocurrencies if needed. Bitcoin, Ethereum, and other well-known cryptocurrencies all tend to have patterns of distribution and re-accumulation and will fluctuate in value until the next price spike.
In our crypto guide, we’re delving deeper into how to trade cryptocurrency and the best platforms on which to buy and sell. We also explain the benefits of automated trading, and how to sell cryptocurrency in a safe way.
We can compare to the classic fiat currencies we know today, such as the dollar, Euro, or pound. Crypto is a simple form of money that relies on advanced blockchain technology. This enables it to facilitate value exchanges between organizations, governments, businesses, and individuals alike.
For a long time now, cryptocurrencies have been regarded as revolutionary advancements that offer plenty of unique features. Crypto transactions are secured and verified by the blockchain using cryptography protocols, making digital currencies easier and safer to invest in.
Most cryptocurrencies use decentralized systems in their build. This means it’s not possible to share records of transactions with centralized parties like commercial banks, government departments, individuals, and other private parties. In essence, cryptocurrencies are secure methods of transfering personal wealth with autonomy and without restriction.
When you buy or sell cryptocurrency, your transactions are private, anonymous, and highly efficient. Options like Bitcoin are highly regarded as a store for fiat currency value and for their safety. While others, like Litecoin and Dogecoin, are better choices for those who need rapid transaction processing speeds.
Many blockchains offer unique native features too, including cross-border payments, fund moving payment services, regional and international logistics features, and more. Blockchain has the potential to revolutionize many of the world’s current systems through its support of decentralized autonomous organizations, or DAOs.
If you want to trade cryptocurrency, you’ve likely already heard of cryptos like Ethereum, Dogecoin, Bitcoin and Litecoin. These cryptocurrencies and others can be sold on a wide range of exchanges. They are either sold back to the source where you made your deposit, or they’re exchanged into stablecoins such as Tether.
Successfully selling cryptocurrency on an exchange requires a certain level of knowledge and skill. If you have this knowledge, you may secure significant profits when selling off your digital assets, without needing an intermediary over and above your crypto broker. This is beneficial, as you can mitigate the risk of losing your digital assets or falling prey to a scam. Knowing how to trade crypto also allows you to gain the true value of your cryptocurrencies without having to pay excessive fees.
Some of the most highly recommended cryptocurrency exchanges in 2023 include:
These brokers and exchanges are some of the most widely used among cryptocurrency traders. They’re trusted for offering smooth and efficient selling and trading services. Many of them also cater to newcomer traders to make selling cryptocurrency simple. Even without advanced knowledge of how to do so.
The cryptocurrency industry is home to hundreds, if not thousands, of exchanges and brokers from. But not all of them provide the necessary security, features, or quality of services to offer you a seamless trading experience. Some exchanges with weak security features are targeted by hackers. Others cannot adequately protect their users’ data or money.
We recommend always reading reviews from trusted experts who use the platforms themselves before signing up and selling your digital assets! Ideally, your exchange of choice should always offer excellent customer support, along with numerous methods of crypto to fiat exchanges via debit and credit cards, banking integrations, and other secured transaction services.
If you’re interested in selling your cryptocurrency with one of the trusted exchanges we mentioned above, there are a few steps you need to take before you can transfer your digital assets into fiat currency or stablecoin.
Once you’ve checked all these steps off your list, you’re ready to start learning how to sell and trade cryptocurrency through your chosen exchange.
Most crypto brokers will only let users withdraw their funds after meeting specific conditions. Usually, the user needs to own a verified account with the exchange and should also use the service from legal and authorized regions.
These conditions are set to ensure that all transactions on the exchange are secure and adhere to certain laws and regulations. Exchanges that list these conditions are also more likely to offer you correct exchange rates and accurate payouts. This is important for your profit margins at the end of the day. Not all brokers offer accurate or fair exchange rates. Others may charge significant withdrawal fees that damage the value of your assets.
Any exchange that you sign up with should use at least user verification modules (such as 2-factor authentication), a set minimum withdrawal sum, and a transparent withdrawal fee system. Withdrawals should get processed within a few days on a consistent basis. Depending on where you’re trading from, you should also choose a broker that can process transactions in your preferred currency.
You can liquidate virtually all cryptocurrencies into fiat cash if you pick the right broker for your needs. If, as an investor, you own Bitcoin for instance, the right platform will access liquidity directly and your cryptocurrency will get converted into fiat cash. You can then withdraw the cash into your personal bank account.
The best cryptocurrencies to trade are usually those that offer instant liquidity. These include Bitcoin (the leading digital currency with dominance over the market), Ethereum, IOTA, Litecoin, Ripple, EOS, Polkadot, Kyber Network, Libra Coin, and Shiba Inu.
Cryptocurrencies are a digital valuation of financial assets. This means they are, in essence, a type of money and are thus accompanied by a value. Just as you would protect your fiat assets, you should also secure your digital assets with a reliable digital wallet, also called a crypto wallet.
A crypto wallet is just like the traditional eWallets you may already be using, like PayPal and Skrill. They are popular among investors on a global scale, and can be used to safely store digital assets, including Ethereum, Bitcoin, Litecoin, Dogecoin, Ripple, and others. Depending on the cryptocurrencies you wish to trade or sell, your options will include:
When you trade and sell cryptocurrency, you would traditionally need fair sums of time, knowledge, and expertise to do so successfully. Not everyone has the skills, experience, or resources, which is where automated trading comes into the picture. Automated crypto trading is an effective way to meet these requirements while simplifying the trading process.
Automated trading is performed by bots programmed to enable the automatic trading of cryptocurrencies. Trading bots extract pre-set information about markets and risks and use it to act by buying, selling, or trading at optimal times. A trading bot can, for example, be instructed to buy more cryptocurrency at certain times. It can fulfill this order by scanning market trends and buying only when it is safe to do so.
Similar effects can be achieved by hiring a trading expert to handle your cryptocurrency portfolio. But modern trading automation bots are often more cost-effective and may be even more efficient at handling your digital assets. Bots are also active whenever you need them, and they save plenty of time. Most popular exchanges and brokers offer trading bots to their users. You can make best use of them by choosing the most reputable bots that have produced the best historical ROIs for past users.
The most popular automated trading bots used by the trading community in 2023 include the likes of Bitcoin Prime, Bitcoin Trader, Cryptosoft, and Bitcoin Miner.
Cryptomats are ATM machines for cryptocurrency. They allow you to sell cryptocurrency using the machine to withdraw fiat cash.
You can use a cryptomat to sell your crypto for fiat currency by choosing the sell option on the screen. Type in your preferred amount, scan the QR code on-screen with your wallet, and then confirm the transaction. Once confirmed, the machine will use a scanner to read your check and authorize your payment. You’ll then receive the amount of cash requested if available in your wallet.
Peer to peer, or P2P, trading platforms, are designed to act as mediators during transaction disagreements, and to ensure that all parties involved in a transaction remain safe at all times.
You can use a peer-to-peer exchange to sell your currency by following these steps:
Cryptocurrencies have become increasingly more secure since the launch of Bitcoin, the first digital currency, back in 2009. Whether they’re well-established or relatively new, the leading cryptocurrencies and exchange platforms have all gone to great lengths to offer their users superior security and protection against fraud. However, this is not to say that trading cryptocurrency is 100% safe. Crypto is arguably the world’s most speculative and volatile financial market to date. You need to take care to ensure your assets are well protected.
Investors need to invest time into analyzing the markets and the risks to preserve their trading capital in the long run. The most profitable sales are those informed by the facts. If you invest in good, strong digital assets with the potential to earn you beneficial returns, you’re better equipped to make the most of your investments.
Achieve this by:
Use these tips to ensure that your selling experience is as safe and seamless as possible:
Cryptocurrency trading, like all other forms of trade, has its pros and cons. The pros include:
People who sell cryptocurrency may encounter some disadvantages to this form of financial exchange. The cons include:
When you choose to trade or sell cryptocurrency, you could stand to make a clear profit from your transactions if you know how to maximize your chances. Use our crypto guide to structure your selling efforts and ensure that every transaction you make is safe, secure, and protected from prying eyes and scammers.
Cryptocurrencies offer many benefits over traditional fiat currencies, including high levels of security and anonymity, transparency, and quick, borderless transactional capabilities. Remember that only trusted, licensed, and reputable brokers and exchanges offer these benefits. And, you must always choose accordingly to protect your digital assets in the long run.
If you want to sell at a profit you need to keep an eye on the prices of the crypto you want to sell, and the market fluctuations. If there are surges you can sell at a huge profit, but the reverse applies if there are downturns too.
Depending on which platform you use, the sale may be instant. Most sales take place in real-time.
Yes, but you need to use a reputable and respected exchange to do so. This way, you’ll ensure you’ll get your money.
Generally yes. If you use an exchange or brokerage and have a commonly-sought after crypto, you shouldn’t have any issues. However, P2P sales can be more challenging.
Reports indicate that coins like Bitcoin are set to surge, however other altcoins may lose value. Keep a close watch on the marketplace for any changes in value.
