Selling my bitcoin in canada

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What is the best way to sell Bitcoin?

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How to Cash out Bitcoin in Canada

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A simple guide to cashing out your bitcoin for US dollars or another cryptocurrency.

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Or email us with any questions. If you are selling to someone you know in person, you'll just send the coins to them directly and they will handle cash - then you are done. The process for doing this always looks a little different on every platform, but for the most part, it works the same way. The only difference is, with a broker, you are selling at whatever the spot price is minus some fees.

With an exchange, you can set whatever price you want. Coinbase is a prominent and feature-rich exchanges which allow you to sell Bitcoins for USD. Coinbase Pro also caters to Americans. It has high volume and advanced trading features.

Ensure that you read the respective documentation for all these exchanges for further information on trading limits and terms. The big American exchanges, Coinbase and Coinbase Pro , are also available in Canada for purposes of selling Bitcoin for Canadian dollars. Coinberry is also a great choice to sell your Bitcoins in Canada. Coinbase and Coinmama are some of the biggest exchanges servicing Europe. UK-based Bitcoin sellers have extensive options when it comes to exchanges.

Coinbase and Coinmama are all represented in the UK. The major decentralised exchanges are available in the United Kingdom , as well as the UK-only, peer-to-peer marketplace, BitBargain. The major global exchanges are absent from Australia. CoinCorner , which also services Europe, is a recommended option. In person exchanges such as LocalBitcoins is available almost globally. And while you are looking at LocalBitcoins, you should also check out LocalCryptos.

Its pretty much the same as localbitcoins, but they also allow you to sell altcoins. However, Bitcoin sellers are the most common, so make sure to check it and see if you get any better offers there. You can also use Decentralized exchanges like Bisq and HodlHodl make it easy to trade without giving custody of your coins to anyone else. Larger exchanges, such as Coinbase , span several countries or entire regions. Smaller, local exchanges exist in most nations with a significant Bitcoin user-base.

Services like LocalBitcoins allow you to arrange in-person trades for cash. A secure location, such as a bank or police station lobby, is recommended. If you intend to do many such cash trades, you might want to invest in an ultra-violet counterfeit bill detector or a counterfeit detection pen. Also, if your buyer indicates any intention of using purchased bitcoins for illegal activities, cancel the trade immediately. For selling Bitcoin online, up to 70 different payment methods may be requested depending on your location , including traditional options such as bank transfer, PayPal , Western Union and so on.

Because it is decentralized, using Bisq is a little bit different than a traditional exchange. It is similar to using Napster or Limewire - There is no website to go and log in to.


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Instead, you must download the Bisq client. This creates your own node on the peer-to-peer Bisq network. Once you have the software downloaded, no one - not even Bisq - can prevent you from trading on the network because you are running the exchange locally on your machine. Once you node is up an running, you will be given a recovery phrase to recover your node if your machine dies.

Don't worry: you don't need to keep all the funds you want to trade in the local hot wallet. Bisq just asks you to lockup a small percentage of your desired trade as a way to prevent spammers and fraudsters from using the network. If you want to learn more about Bisq and how it works, as well as some of the new functionality recently added to the platform, Unhashed Podcast did an interview with one of their lead developers if you want to understand better how a truly decentralized exchange can work.

HodlHodl is another decentralized exchange option.