#2024WithBinance Do’s and Don’ts of Selling Bitcoin to Cash
2021-03-26
In this article, we show what can go right and wrong when it comes to selling your Bitcoin to cash. We hope you can learn the right ways for this after reading this blog.
As more people become interested in Bitcoin and other cryptocurrencies, there are a lot more buyers this time around. Whenever you bought and stashed your Bitcoin away, whether during the hype of 2017 or the lull periods before and after that, now seems to be a good time to take advantage of recent record highs for Bitcoin this year.
If you are constantly in-the-know when it comes to crypto, selling Bitcoin the right way might be a basic thing for you to do. But for many who have had a casual encounter with Bitcoin before, a refresher might be needed to know for sure if you are doing it right when it comes to Bitcoin selling.
In this article, we identify fine steps to selling Bitcoin into cash. For each step, we point out the best and worst practices when it comes to.
1. Finding an Exchange to Send Your Bitcoin To
DO: Pick a high-volume exchange with high security.
There are two components to this tip: volume and security. A high-volume exchange will likely have more competitive rates and more buyers for the Bitcoin that you want to sell. On the other hand, a high-security exchange ensures that the Bitcoin you send there will be kept safe, regardless of when you actually intend to sell your crypto. One great example of such exchange is Binance, which is not only the largest exchange in terms of trade volume, but also top-notch when it comes to security measures due to its regular handling of millions of accounts.
DON’T: Pick exchanges with high fees or dubious track records.
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