How and Where to Sell or Buy Bitcoin

Introduction 

When it comes to buying and selling of Bitcoin, two basic options come to mind:

  1. Buying and Selling online.
  2. Buying from a local Bitcoin vendor or merchant near you.

Buying and selling online is the most popular method of purchasing bitcoin or selling the same. It affords one the convenience and time which buying from a local vendor would not. The only downside is that one could buy from a fraudulent website and get swindled. We would look at how and where to buy or sell Bitcoin when buying or selling online.

  • How to Buy or Sell Bitcoin Online

To buy and sell bitcoin online, a series of steps are required. We would run through them briefly.

  1. Choose an exchange platform: There are several websites where Bitcoin is exchanged for cash. Some of them are Coinbase, Kraken, Bitfinex. 
  2. Open a Bitcoin wallet: This is where the purchased Bitcoin will be securely stored. Also, it serves as a site from which you send Bitcoin when selling.
  3. Signup on the exchange platform: Open an account with Coinbase, Kraken, or Bitfinex.
  4. Verify Your Identity: Here, you’d have to fill in all your details. 
  5. Complete your account setup.
  6. Verify your phone or PC.
  7. Add bank account details. 
  8. You’re good to go!
  • Where to buy or sell Bitcoin Online

As earlier stated, you can buy or sell Bitcoin on several verified exchange platforms. Each has its own unique feature. You can browse through to check the one you prefer the most. Here are a few:

  1. Coinbase
  2. Kraken
  3. Bitfinex
  4. Bitpanda
  5. Mycelium
  6. Trust Wallet

Buying From a Local Bitcoin Vendor

There are several Bitcoin vendors scattered across localities these days. Buying from a Bitcoin vendor is simple. All you need to do is to open a Bitcoin wallet and give the address to the Bitcoin vendor. Bargain the rate, pay, and receive the equivalent amount in your Bitcoin wallet.  

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