When you want to sell any sort of cryptocurrency, either because you don't have a need for them anymore, made a nice profit from gambling or made a profit from investing in them, then the process is just as simple as when you want to purchase them.
Since you will already be holding the coins within the wallet you prefer, there are several different options to choose from when you want to sell them.
You will find the most common ways to sell your coins in this article, as well as with guidelines on how to do so.
Always remember than safety is the key when you are holding coins, so don't go out and sell your coins to people you do not know or trust if you have decided to do it on your own.
Selling Coins on Cryptocurrency Exchanges
The easiest and most safe way to sell your cryptocurrencies is through a cryptocurrency exchange site.
If you don't already have a cryptocurrency exchange wallet, we recommend that you create an account with one of the large trusted sites and transfer your coins there to sell.
The reason why it's the safest way to sell your coins is because that the exchange site holds the funds that you will be getting, avoiding that any potential scammer can do a chargeback or similar and steal you out of your coins.
Furthermore they use the security certificates and SSL encryption needed in order for all transactions to be completely safe and secure.
So how to sell your coins? it's really quite simple when you hold your coins in the cryptocurrency exchange wallet.
All you need to do is to choose the coin you want to sell and go to the selling market. From there you need to enter t he amount of coins you want to sell and the price that you want for them and submit your selling order.
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The system will then take care of the rest and find a buyer who is willing to take your coins for the price you have specified. Once the entire order has been processed, you will see the coins disappear from your wallet and instead be replaced by a real currency.
The money you have received for the coins can then be withdrawn to your bank account by submitting a bank transfer or be used to purchase other cryptocurrencies if that is what you want to do.
Selling Coins on Online Forums and Communities
The next option you have to choose from is to sell your coins through one of the many different online forums and communities that exist about cryptocurrencies.
In there you will find many other cryptocurrency enthusiasts, who are always looking to purchase coins to add to their balances.
The easiest way to sell your coins this is way is to create a thread about wanting to sell your coins, the amount you have of them, the price you want for them and the method which you wish to get paid on.
Potential buyers of the coins will then contact you to discuss the trade in details, usually to try and get a better price out of you, unless your price is already better than what they can buy the coins for other places.
The variable here lies in the fact that you will be responsible for the transactions yourself, meaning that there is no site in between to guarantee you will receive your money for the coins. Because of this we recommend that you only do trades with people who have several references from former trades and who all received their money without any problems from that user.
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Should that be the case, then you simply have to ask him to send you the money and you will be sending the coins to his unique cryptocurrency wallet address.
It is as simple as that and doesn't take very long, especially if you choose to receive the money on a online wallet service, where you can see the funds instantly.
Selling Coins to Friends
The last option you have when you want to sell your coins is to sell it to your friends, who are into cryptocurrencies and interested in buying additional coins.
Once again all you have to do is to figure out how many coins you want to sell, the price for them and how your friend should pay you and the deal is set.
You will then just need to send him the coins on his unique wallet address while he sends you the funds and within one hour he will have the coins in his wallet.
So as you can see it is very simple to sell your coins once you don't need them anymore or want to cash out a profit.