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All you need to know about bitcoin selling and buying

Log in at Local.Bitcoin.comFind an appropriate buyer, willing to buy BCH and create a new sell order yourself.Open a trade session with your chosen buyer and transfer your BCH to the blind escrow account.Once your buyer has transferred you the required amount of money, kindly confirm the reception of payment. Then you BCH will be transferred from the blind escrow account to the buyer’s Bitcoin wallet. If you want the

bitcoin exchange script

, you can get it at BitExchange’s website.Cryptocurrencies are all the rage these days. Ever since Bitcoin was introduced in January 2009, people have been eager to buy and sell cryptocurrencies. Why? It’s because cryptocurrencies offer several benefits over traditional currencies and traditional banking systems. Some of them are:

Cryptocurrencies are decentralized unlike traditional currencies. They cannot be demonetized or their value cannot be inflated unlike traditional currencies.

Cryptocurrencies cannot be counterfeited unlike traditional currencies.

Cryptocurrencies are not restricted by national borders, unlike traditional currencies. 

Cryptocurrency transactions are accurate to the last decimal point. 

There is no convenience fee charged on cryptocurrency transactions.

Cryptocurrency transactions are more fast and secure than traditional netbanking transactions. 

Unlike traditional banks, cryptocurrency exchange websites do not require you to maintain a minimum bank balance. 

Despite all these advantages, some serious implementation flaws were found while using cryptocurrencies. Hence, they are used these days more like a tradable commodity rather than as an alternative to traditional money. 

Since cryptocurrencies are in demand, the value of almost every cryptocurrency is on the rise these days. That being the case, you might be interested to know how to trade in cryptocurrencies. Don’t worry, that’s exactly what we’re going to discuss in this article?

How to buy Bitcoins?

You might be surprised to know this but there are many ways to trade Bitcoins. The most popular methods are via Bitcoin’s website, via peer to peer trading platforms, and via cryptocurrency exchange websites. We shall see each one in detail now. 

If you want to set up your own Cryptocurrency Exchange Software, you can visit BitExchange’s website.  

Via Bitcoin’s website

Go to Bitcoin’s website.

Choose whether you want to trade in Bitcoin Cash (BCH) or Bitcoin Core (BTC) (You need to create your own Bitcoin Wallet if you don’t have one in this step). 

Then choose whether you wish to buy Bitcoins using American dollars or Euros. 

Then enter your Wallet address and complete the buying process.

Bitcoins worth the amount that you have paid will be stored in your Bitcoin Wallet.

Via peer to peer trading platform

The most popular peer to peer trading platform is Local.Bitcoin.com

Hence, visit that website and create an account there.

It must be noted that one can only trade in Bitcoin Cash (BCH) here and not in Bitcoin Core (BTC). 

Find peers (people) who are looking to sell their Bitcoins (BCH) and create a new buy order yourself.

Your chosen peer will send his or her BCH to the blind escrow account as per the buy order.

Once you have transferred the required regular money to your seller via any online transfer method, your seller will give a confirmation if the money is received.

Once the confirmation has been given by your seller, the BCH will be transferred from the blind escrow account to your Bitcoin Wallet.

Via a cryptocurrency exchange website

Register yourself in any renowned cryptocurrency exchange website. 

Navigate through the website and buy BCH or BTC as required.  

Your Bitcoins will be stored in your cryptocurrency wallet, stored on that cryptocurrency exchange website. 

How to sell Bitcoins?

Selling bitcoins can be done via peer to peer exchange platforms or via cryptocurrency exchange websites. We shall each one in detail now. 

Via peer to peer trading platforms

In peer to peer trading platforms, people will be willing to buy BCH just as other people will be willing to sell their BCH. In order to sell BCH via a peer to peer trading platform, you need to follow the following steps. They are:

Log in at Local.Bitcoin.com

Find an appropriate buyer, willing to buy BCH and create a new sell order yourself.

Open a trade session with your chosen buyer and transfer your BCH to the blind escrow account.

Once your buyer has transferred you the required amount of money, kindly confirm the reception of payment. 

Then you BCH will be transferred from the blind escrow account to the buyer’s Bitcoin wallet. 

If you want the bitcoin exchange script, you can get it at BitExchange’s website.

Via a cryptocurrency exchange website To sell your BCH in a cryptocurrency exchange website, kindly follow the following steps:  

Log in to the cryptocurrency exchange website, you have an account in.

Navigate the website accordingly to sell the required amount of BCH or BTC.

If you had sold your Bitcoins for regular money, the amount will be credited to your bank account directly (as it has already been linked to the cryptocurrency exchange websites.

If you had exchanged your Bitcoins for other cryptocurrencies, those cryptocurrencies will be stored in your exchange website’s digital wallet.

Conclusion

Even if cryptocurrencies are far from replacing traditional currencies as of today, they definitely are a lucrative tradable commodity. The value of every cryptocurrency is on the rise every single day. 

Therefore this is a good time to invest in popular cryptocurrencies and reap profits. Kindly ensure that you register yourself on reputed cryptocurrency exchange websites, lest you might be cheated. 

FAQs

Are all Bitcoin transactions anonymous?

Yes, all transactions on Bitcoin networks are carried out anonymously. Nobody knows the name of the sender or the receiver. They are identified only via their public key. 

Which is the most popular cryptocurrency exchange website?

Coinbase is the most popular cryptocurrency exchange website as of 2020 because it has high liquidity and buying limits. It also has the ‘Instant Buy’ option available with debit cards.

When was coinbase founded?

Coinbase was founded in June 2012 by Brian Armstrong and Fred Ehrsam.

Which is more popular as of today Bitcoin or Ethereum?

Though Ethereum has become more popular due to its superior blockchain network infrastructure, Bitcoin is still the world’s leading cryptocurrency. The value of 1 Ether today is US $132. The value of 1 Bitcoin today is US $6,306.