The Bitcoin is a decentralized, digital, peer-to-peer payment system that allows parties to engage in transactions without involvement of any middleman or third party. So, unlike fiat currencies, there is no government, authority, or central bank that issues or regulated this currency. Bitcoin uses cryptography for controlling transactions. In this sense, it is both untraceable and fungible, and inflation-proof like gold.
How To Buy And Sell Bitcoins Easily:
- You can buy the Bitcoin using fiat currencies like the USD or EUR and in exchange for other cryptocurrencies as well. You can go the official website of Bitcoins and choose the currency you wish to buy. You can decide whether to buy in local currency or USD and then type in the amount. You are expected to provide your wallet address after this to continue. The purchase process for Bitcoins involves creating an account followed by submitting your payment details.
- You may sign up at any reputed cryptocurrency exchange to buy or sell crypto coins like the Bitcoin. You can choose from hundreds of exchanges out there, some of which even allow you to stay anonymous by not asking for your personal information.
- You can buy Bitcoins by opening the Bitcoin wallet app that you have on your smartphones. You simply have to tap on the green “buy” button when you want to buy BCH or Bitcoin Cash and the orange “buy” button to buy the BTC. You will be asked to verify your ID and on completing this, your purchases will proceed. The subsequent purchases typically require even lesser time.
- You can even buy Bitcoins from a peer-to-peer trade platform like LocalBitcoins.Com or immediate bitcoin app. Here also you must create an account to get started and find existing sellers keen to sell the cryptocurrency. When you open trade with this seller, he will transfer the currency to your escrow account. You must agree to payments via bank transfers or other payment systems and the seller must confirm upon receiving the money. Once this happens, the crypto that had been transferred to the blind escrow gets released and transferred to your wallet.
How To Sell Bitcoins:
- For this you can visit the Bitcoin official website and click on the currency that you wish to sell and specify the amount. You have to click on the currency that you wish to receive the money in, whether USD, EUR or GBP. You must then add the wallet address and click on “continue” to finish the sales process once you have provided your payment details.
- You can sell cryptocurrencies like Bitcoin through an exchange. You must create an account to start selling and verify your identity. When you sell it for fiat currencies, you can cash out your money into a bank account. If you sold against
- For peer-to-peer trades, you can create an account on LocalBitcoins.com and look for an existing buyer, or create a sell order. You can then open trades with the chosen buyer and send the crypto to a blind escrow account. When the buyer sends payment through the bank or any other payment method, you have to confirm that you have received the money. When this happens, the crypto you have sold will be transferred to the buyer’s wallet from your escrow account.