How to sell Bitcoin in Canada?

It turns out that selling Bitcoin is a little bit harder than buying Bitcoin. Luckily, with a few tips that we will share in this article, you should be able to sell Bitcoin in Canada without any hassles. According to most sellers, selling bitcoin over the Internet is the best option because after all, this is digital currency. At the same time, this is the most used form of selling Bitcoin and other cryptocurrencies today.

There are basically three basic options and we will explain each of them in this article.

Direct selling

There are many websites that provide tools for selling Bitcoin directly. For instance, BitBargain, LocalBitcoins, and Coinbase have proven to be helpful for direct trades. Almost every site like this requires registration which is usually free. This means that you have to share your personal information. As a registered member of any of these sites, you can post an offer to the public. Now, all you have to do is to wait for a buyer who will show interest in trading. The negotiations are done directly, but the website will finish the trade for you. This is not a difficult process, but you should expect to pay some fees.

Bitcoin exchange websites

This is another very popular method of selling bitcoins. Once again, users have to register for a well-established online exchange if they want to sell their coins. Additionally, they have to verify their identity too. The difference is that the verification process is easier. When you use an exchange, the funds of the seller and the buyer are kept by the online exchange. You just have to put a sell order, reveal the amount and type of currency as well as the price. When someone buys your bitcoins, the exchange is here to finish the transaction. It will take some time for the funds to be credited to the account.

P2P trading sites

In the recent period, websites like Purse and Brawker are getting more popular. They act as peer to peer trading marketplaces. This means that one category of users wants to use bitcoins to purchase some goods from websites that don’t accept bitcoins. The other group includes users who want to purchase bitcoins with the help of a debit or credit card. So, these websites are here to unite the two groups and let them sell bitcoins.

Comments are closed