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How to sell bitcoin and not lose money?

20.03.2021
How to sell bitcoin and not lose money?

Sooner or later, the cryptocurrency owner realizes that he wants to cash out his digital assets. In order to protect himself from scammers and hidden fees, there are several ways.

Exchangers are becoming the most popular way to cash out the money. You can receive funds here on bank cards, e-wallets, as well as by phone number transfer or in cash. When making transfers to wallets, it’s important to fill in the amount indicated in the application. If you make a mistake, the transaction will simply "get stuck", and only technical support can help you with it.

To carry out the operation, you must:

 - Select the asset to be exchanged;

 - Choose a way to receive fiat money;

 - Indicate the card number or account to which they will be received;

 - Specify the amount of withdrawal;

 - Enter the required personal data;

 - Confirm the withdrawal request.

It’s also important not to make a mistake with the wallet number and carefully check all the entered data - operations in the blockchain cannot be canceled.  Without application confirmation by clicking the "I paid" button, the operation won’t be carried out.

The amount of the exchanges commission is 2-5%. The commission is included in the rate at which the cryptocurrency will be sold.

There are a lot of exchangers - some of users have the risk of stumbling upon scammers. It is better to find the most reliable platforms using aggregators and user reviews.

But for any transaction, it is worth installing anti-virus programs that will help to recognize fishing websites, check for Russian-language support, and also clarify from which bank account the transfer will be made - this will help to avoid freezing the account.

On exchanges, the possibility of cashing out cryptocurrencies has appeared relatively recently. Funds from them can be withdrawn directly to a bank card or third-party payment systems. The commission here can also be 2-5%.

To carry out such an operation on the exchange, you must:

 - Select the desired function;

 - Specify the cryptocurrency you want to sell and the withdrawal method;

 - Enter the amount and account to which the funds will be credited;

 - Confirm the operation.

When withdrawing money from the exchange, the following difficulties may arise: refusal to provide services due to lack of identity confirmation. Also, for example, one of the banks in the transaction chain may suspend the transfer to check the legality of the funds.

And, as is the case with exchangers, it‘s worth checking the website address so as not to transfer funds to scammers due to a fake website. You need to check how the web page looks and check the title.

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