Bitcoin has become mainstream in 2021 due to its increasing popularity and prices. If you want to buy one bitcoin, you will have to pay $49,000 today, not a small amount of money. However, if you want to sell cryptocurrencies in Canada, there are certain things that you need to keep in mind. It would help if you kept in mind that you have to sell the cryptocurrency urgently and at a reasonable price.
As a common rule, every cryptocurrency user has to sell his digital tokens like bitcoin at a price higher than his purchasing price. Keeping it for a very long period is undoubtedly the best thing you can do if you want to make a considerable profit. However, if you want to sell it unexpectedly, there are certain circumstances that you have to take under consideration. First of all, you should know about the essential methods that you can use to get the most out of them.
The best method of selling any digital token is none other than an online exchange. You have to get a cryptocurrency exchange that can provide you with excellent quality services, and it must have the best offers for you. With the best cryptocurrency exchange, you will get the highest prices, liquidity, and a high degree of security. There are some of the most popular cryptocurrency exchanges that you can go for, and their names are Coinbase, Binance, Kraken and Gemini. These exchanges will provide you with cryptocurrency sale and purchase services with the lowest transaction fees. Also, there will be a wide selection of points so that you can get the best of available.
If you follow the step-by-step guide, it will be easier for you to sell bitcoin in any country of the world.
- You need to get a cryptocurrency exchange that is the perfect one and have the highest rating in the market. Then, make sure to create an account.
- Then, you have to add your cryptocurrency wallet to the same cryptocurrency exchange on which you have created the account. Transfer your coins into the exchange so that you can make the transaction. Go to the website’s main menu, like this auto-bot, and find your preferred cryptocurrency. Suppose that you are selling BTC, so that is you have to select bitcoin in the menu. Then, select the Wallet section and choose fiat and spot.
- Now you are all set to trade in cryptocurrency or get it converted into dollars or any other currency you want. You can easily send it to the bank account or your online Fiat currency wallet to withdraw the money.
- You will get a confirmation message. Make sure to verify and get your money instantly.
You can quickly sell your digital tokens like bitcoin in Canada any time you want by the steps. First, however, it is essential to know about the other available methods. The most well-known methods you can go for apart from selling your cryptocurrencies on an online exchange are as follows.
- Peer to peer Platform
A prevalent method of engaging in cryptocurrency transactions is using peer-to-peer cryptocurrency platforms. You do not have to interact with any third party or intermediary on these platforms. However, you have to know about the person with whom you will have the transaction. The second party’s details are ultimately disclosed, and you have to make the transaction. The transaction fees in this type of cryptocurrency exchange are meagre, and therefore, it is more beneficial for you.
- Face-to-face deal
Dealing with cryptocurrencies on a face-to-face basis is also very popular these days. People use this method very popularly to eliminate any intermediaries on online exchanges. If you are also living in a country using cryptocurrencies on a large scale, it is undoubtedly the best method for you. First, you have to find a person willing to purchase your cryptocurrencies. It can be or known or any stranger. Then, strike a deal and transfer the cryptocurrencies you are willing to sell to the other person’s wallet. With the help of this method, you can quickly sell your cryptocurrencies anytime without any transaction fees.
