The Future Coin

Bitcoin

$10,896.13

BTC 1.53%

Ethereum

$368.28

ETH 3.70%

XRP

$0.24

XRP 1.71%

Litecoin

$48.04

LTC 4.59%

EOS

$2.62

EOS 1.71%

  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases
No Result
View All Result
The Future Coin
No Result
View All Result
Home Bitcoin Cash101

How to sell Bitcoin Cash

by The Future Coin
May 3, 2020
in Bitcoin Cash101
0
How to sell Bitcoin Cash
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

Even though Bitcoin Cash (BCH) has only been around since August 2017, it is now the fourth largest cryptocurrency behind the original Bitcoin, Ethereum and Ripple in terms of market capitalization and the second highest behind Bitcoin in terms of its price. At the time of writing, Bitcoin Cash’s market capitalization stands at $27,619,560,691 USD, while the price of one BCH is $1,631.30 USD.

If you’ve already bought your share of BCH, you might be considering ways of selling it. This guide will provide you with detailed instructions on how to do so.

Bitcoin coin on a fork

Sell it for Bitcoin or altcoins

As Bitcoin Cash is a relatively new cryptocurrency, there are a very limited number of major international exchanges that support it, especially when it comes to selling it for fiat currencies. It is perhaps easier to trade your Bitcoin Cash tokens for other cryptocurrencies.

A number of globally operating exchanges, such as Poloniex and Bittrex (where Bitcoin Cash is listed as ‘BCC’), enable users to trade Bitcoin Cash for either Bitcoin, Ethereum or Tether. If you’re looking to sell Bitcoin Cash, chances are you probably already know your way around exchanges and wallets. If you are new however, you can always check out our ‘How to buy Bitcoin Cash’ guide.

If you’re not a fan of exchanges in general, or if you wish to avoid linking your bank account and verifying your identification (which can take several days) you can always use services like Changelly and ShapeShift, which offer instant exchange between numerous cryptocurrencies. Both of these platforms support Bitcoin Cash.

Bitcoin Cash price analysis with charts

Sell it for cash

Currently, there are three major globally operating exchanges where you can sell Bitcoin Cash for fiat currencies: Coinbase, Kraken and Cex.io. Coinbase only allows selling Bitcoin Cash for U.S. Dollars. Kraken also supports Euros, while Cex.io supports the USD, Euros as well as British Pound Sterling.

Coinbase, Cex.io and Kraken logos

Bear in mind, if you’re looking to exchange your BCH tokens for cash, you will have to both link your bank account to an exchange and go through a lengthy procedure of identity verification. Once you’ve done all that, you can go ahead an withdraw your funds in cash.

Most exchanges only allow withdrawals to a linked bank account. This can be done via bank wire transfer, SEPA for European customers, SWIFT for customers from almost every country in the world as well as some other options. Moreover, Cex.io allows withdrawals directly to VISA or MasterCard cards in USD, EUR or Russian Rubles.

Depending on where you are in the world and what withdrawal method you’ve chosen, it may take anywhere from one business day to a week for the funds to appear in your account. Withdrawing money from the exchange will also incur fees, which differ depending on the exchange.

For example, some platforms, like Kraken, will charge from €0.09 for SEPA withdrawals to €60 for SWIFT withdrawals. Others, like Coinbase, will automatically calculate fees for every specific withdrawal.

Finally, exchanges usually impose daily and monthly limits for withdrawals, but fully verified users or corporate accounts don’t have these limits imposed on them.

To find out about withdrawal methods, fees and limits on the exchange of your choice, simply navigate through the website and find the ‘about’ or ‘F.A.Q.’ section.

You can find the full list of exchanges, including a growing list of localized exchanges for Asian markets supporting Bitcoin Cash here.

Sell it peer-to-peer

If you wish to avoid all the hassle associated with trading on and withdrawing from an exchange, you could sell you Bitcoin Cash directly to another person. There is a service called LocalBitcoinCash, which facilitates direct trades between user. All you need to do is simply post an offer, or, alternatively, respond to an already existing offer posted by someone else.

LocalBitcoinCash provides an escrow service, and the transactions are instant, as long as both parties have sufficient funds in their accounts. Moreover, the platform also gives you an option to contact the other party directly for a face-to-face transaction offline.

Please note: Whether LocalBitcoinCash is a reliable platform still remains to be seen.

Alternatively, you can use Meetup.com to find your local Bitcoin Cash related meetups, where you can meet other BCH enthusiasts and trade directly with them in a safe environment.

A man selling crypto coins at the bazaar

Safety tips

Remember to keep your funds safe. Most importantly, never keep too much money in a wallet provided to you by an exchange. The cryptocurrency history is filled with instances of exchanges being hacked and shutting down without reimbursing their customers.

Moreover, if you’re using an exchange’s wallet, you’re effectively giving up control of your private keys, and, by extension, your funds to a third party. Always keep the majority of funds in your own wallet that stores your private keys offline or consider investing in the safest option currently available - a hardware wallet. For more information on Bitcoin Cash wallets check out our dedicated guide.

Also keep in mind that all Bitcoin Cash transactions are irreversible, so make sure to double check the amount you’re sending, as well as the addresses of you and the recipient.

Make sure to protect your accounts on exchanges with strong passwords. Using different passwords for different websites and services related to cryptocurrency trading is also a very good idea.

Finally, if you’ve set up a person-to-person meeting offline, make sure to meet in public places such as a cafe or a busy park. Never go to the seller’s house, especially if the trade you’re about to conduct is a big one. Moreover, you will need active access to the Internet to sign off for the transaction as well as to check the current exchange rate.

A wallet with two locks

Should I sell my Bitcoin Cash?

Unfortunately, there is no straight answer to that question. The cryptocurrency market is still largely unpredictable and very volatile. In 5 years time, the value of one BCH can be anywhere between $0 and virtually any number imaginable.

Bitcoin Cash is among the top cryptocurrencies both in terms of value and market capitalization and it’s been steadily going up. However, every trading move involves risk, you should conduct your own research when making a decision.

Source link

EDITOR’S CHOICE

IRS issues final regs on annuity payments, business entertainment

What is Ethereum 2.0 and Why Does It Matter?

Is The Largest Crypto Exchange In The World?

Ripple Price Gains 2% But Bearish Bias Remains

Onecoin Victims Join Petition Seeking Establishment of European Crypto Fraud Compensation Fund

If Blockchain is the Next Big Tech Paradigm Shift, What Legal Issues Matter?

Best Pick For You

News

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business News
  • Ethereum News
  • Litecoin News
  • Ripple News

Features

  • Market Analysis
  • Opinion
  • Explained
  • Policy & Regulations
  • Top Cryptocurrencies
  • Technology News

Market Tools

  • Market News
  • Price Indexes
  • Bitcoin Price Index
  • Ethereum Price Index
  • Bitcoin Cash Price Index
  • Litecoin Price Index
  • Monero Price Index
  • HeatmapPartner

Cryptopedia

  • Explained
  • Bitcoin101
  • Bitcoin Cash101
  • Ethereum101
  • ICO101
  • Ripple101

© 2020 Coingraph

No Result
View All Result
  • News
    • Bitcoin News
    • Ethereum News
    • Ripple News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Market Analysis
    • Price Indexes
    • Top Cryptocurrencies
    • Heatmap
  • Opinion
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
  • Press Releases

© 2020 Coingraph

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
bitcoin
Bitcoin (BTC) $ 10,881.30
ethereum
Ethereum (ETH) $ 367.49
tether
Tether (USDT) $ 0.999371
ripple
XRP (XRP) $ 0.243639
bitcoin-cash
Bitcoin Cash (BCH) $ 231.89
binancecoin
Binance Coin (BNB) $ 28.92
polkadot
Polkadot (DOT) $ 4.55
chainlink
Chainlink (LINK) $ 10.33
bitcoin-cash-sv
Bitcoin SV (BSV) $ 177.09
cardano
Cardano (ADA) $ 0.102645
litecoin
Litecoin (LTC) $ 47.95
crypto-com-chain
Crypto.com Coin (CRO) $ 0.152195
usd-coin
USD Coin (USDC) $ 0.999701
eos
EOS (EOS) $ 2.61
monero
Monero (XMR) $ 109.79
tron
TRON (TRX) $ 0.026599
okb
OKB (OKB) $ 6.31
tezos
Tezos (XTZ) $ 2.28
stellar
Stellar (XLM) $ 0.075853
neo
NEO (NEO) $ 20.02
cosmos
Cosmos (ATOM) $ 5.48
leo-token
LEO Token (LEO) $ 1.27
cdai
cDAI (CDAI) $ 0.020856
huobi-token
Huobi Token (HT) $ 4.73
nem
NEM (XEM) $ 0.117809
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 10,877.29
dai
Dai (DAI) $ 1.01
vechain
VeChain (VET) $ 0.013322
iota
IOTA (MIOTA) $ 0.282680
yearn-finance
yearn.finance (YFI) $ 24,260.00
theta-token
Theta Network (THETA) $ 0.714449
ethlend
Aave (LEND) $ 0.567016
dash
Dash (DASH) $ 70.62
zcash
Zcash (ZEC) $ 65.25
uniswap
Uniswap (UNI) $ 4.41
ethereum-classic
Ethereum Classic (ETC) $ 5.47
havven
Synthetix Network Token (SNX) $ 4.92
omisego
OMG Network (OMG) $ 4.33
maker
Maker (MKR) $ 592.58
binance-usd
Binance USD (BUSD) $ 1.00
uma
UMA (UMA) $ 9.09
compound-governance-token
Compound (COMP) $ 136.94
ontology
Ontology (ONT) $ 0.648524
celsius-degree-token
Celsius Network (CEL) $ 1.12
true-usd
TrueUSD (TUSD) $ 1.00
digibyte
DigiByte (DGB) $ 0.028116
basic-attention-token
Basic Attention Token (BAT) $ 0.244655
dogecoin
Dogecoin (DOGE) $ 0.002660
ftx-token
FTX Token (FTT) $ 3.59
kusama
Kusama (KSM) $ 35.56