How to Buy and Sell Bitcoin – The Easy Way

When it comes to buying and selling Bitcoins, it’s definitely not so easy to do the selling part as it is to do the buying part. However, there are ways to make it all a little more straightforward; so here is how to buy and sell Bitcoins in as easy a way as possible.

 

Selling

One of the ways you can sell Bitcoins is by doing something called a ‘Direct Trade.’ Working kind of like eBay or similar selling sites, you can list the Bitcoins you want to sell online and then wait for a buyer to show interest and make an offer.

 

If Direct Trading isn’t working for you, you could try something called ‘Exchange Trades.’ These kinds of deals are very straightforward, setting up a straight swap with someone else so that everything happens very quickly. However, there are fees that can be applied to Exchange Trades, so you might want to take these into consideration.

 

Another easy way to sell Bitcoin is via Peer-to-Peer trading markets. This is where people sell their Bitcoin in exchange for products from a website such as Amazon, with a discount. It can wrack up a small fee for those purchasing the Bitcoins, but it’s a really straightforward and speedy way to sell your Bitcoins for something you actually want.

 

You can also sell Bitcoin in person, to family and friends. Agree on a sales rate, take down the details you need and do the transaction there and then. Provided the agreement doesn’t turn ugly, this is probably the best way to sell Bitcoins.

 

Buying

Before you even think about buying Bitcoins, you need to get yourself a Bitcoin wallet to keep them in. There are so many different kinds of wallets out there on the internet so make sure you do your research before hand and pick one carefully.

 

You can mine your own Bitcoins but this is one of the longest processes in order to get your own coins, and it’s a very gradual process- it would take an extremely long time to make even one Bitcoin, but if you’re not worried about speed and have a lot of patience, mining your own coins is definitely an option.

 

You can buy Bitcoins face to face in the same way that you can sell them (obviously!). Again, this just means setting an exchange rate with the other person, making sure that the seller is trustworthy and that you actually get the coins that you’re after and you’re not being scammed.

 

You can also visit what’s called a Bitcoin ATM. This is just like an ordinary ATM, but instead of giving you your own cash, you give the machine money and get Bitcoins out of it!

 

There are more and more options opening up for buying Bitcoin all the time; the main thing to do is make sure you’re not being scammed out of your money. Always buy from a trusted seller.

 

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Bitcoin enthusiast since 2011. Hates altcoins, except Ethereum, but then again, that's not really an altcoin.