Given that the future of Bitcoin Cash seems bright and although the acceleration in prices seem to have stopped, it still holds enough value to give an investor quite a bang for his buck. Going by the present situation, you wouldn’t be too far off the mark if you wanted to sell the entirety or a part of your BCH holdings. This guide on how to sell Bitcoin Cash is meant to help you out as you look for ways to cash out.
Selling Bitcoin Cash Through A Cryptocurrency Exchange
Most of the top cryptocurrency exchanges do support BCH but do not support its pairings with fiat currency options. Given it is a rather new addition to the crypto market, it is no wonder that fiat pairings that would be the most convenient to a user would be slightly difficult to find. Hence while selling your BCH via an exchange, you may use either of the following options:
1. Selling BCH for Cash Through an Exchange
Only rare exchanges like Coinbase, Kraken or Cex.io usually offer the facility of exchanging Bitcoin Cash against the US Dollar. Usually, it is simple enough to sell your BCH on the exchange, to either fill a pre-existing buy order or by putting up a selling advert. The selling rate is determined according to market price as well as allied factors such as the amount that is being sold off or the frequency with which the user uses the exchange’s platform. Once it is ascertained and the sale confirmed, the amount in USD is usually transferred to one’s linked bank account.
2. Selling BCH for BTC and Exchanging for Cash
For this, you would need accounts with two exchanges, one that would sell your BCH in exchange for Bitcoin and another step where you will be selling your BTC for fiat currency. Now BTC/USD pairings are comparative much more common and this roundabout way can help you cash out conveniently. If you need details about the procedure, you might want to check out our article “How to Sell IOTA” for thorough guidelines about a very similar selling process.
Selling Bitcoin Cash Through A Peer-to-peer Trading Platform
If you use a platform such as the LocalBitcoinCash, then you’ll be able to directly with people willing to buy BCH for payment methods ranging from cash to PayPal. Your due diligence is incredibly important when it comes to you using a peer-to-peer trading platform like this because you don’t know what you might get trapped in. Now, platforms like the one that we have just mentioned here often do offer services for text and video chat between the concerned traders. This does significantly help with the due diligence, as does the escrow service provided by such a platform. However, one must note that the rates might significantly differ from the market price on these platforms.
There are many reasons why you should invest in Bitcoin Cash and since selling and making a profit out of it is frequently a major goal of investment, we are sure this article will help you out in managing that.