How to sell Bitcoin online

Bitcoin is the largest and most well-known cryptocurrency in the world. This page explains what you need to do if you want to cash in your investment and sell your coins.
By: James Knight
James Knight
When he isn’t at work, James is an avid trader and golfer who likes to travel. He once fed, rode, and… read more.
Updated: Jun 10, 2021
Tip: our preferred broker is, eToro: visit & create account

This guide explains where you can sell Bitcoin and how to do it. It includes helpful advice on the most important things to look out for, answers the most common questions, and considers whether now is the right time to sell your coins.

Compare where to sell Bitcoin, and withdraw cash

These are the best cryptocurrency trading platforms if you’re ready to dive in and sell straight away. Our experts have reviewed the best brokers and these are at the very top of their field. To learn more about selling Bitcoin first, scroll down to keep reading.

1
Min. Deposit
$50
Exclusive promotion
Our score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Wire Transfer, Bank Transfer
Full regulations list:
CySEC, FCA
2
Min. Deposit
$10
Exclusive promotion
Our score
9.3
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed
Trade a Wide Variety of Assets with Leverage up to 1:500
Start Trading
Description:
LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.
Payment Methods
Credit Card, Debit Card, Visa, Bitcoin
Full regulations list:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.

How to sell Bitcoin – a step-by-step guide

Step 1. Choose a platform

A cryptocurrency exchange is usually the best place to sell your coins. Exchanges offer the best prices, and the most options in terms of which currencies to sell them for. They also usually offer a mobile app so that you can easily buy or sell coins wherever you are.

Here are a couple of our favourite exchanges, or you can choose one from the table above.

  • Binance: Binance is the most popular cryptocurrency exchange in the world. With hundreds of coins available, you can swap them for each other or for fiat currencies like GBP, USD, and EUR. Sign up for Binance today >
  • Bitpanda: Bitpanda is a user-friendly platform that lets you trade cryptocurrencies for fiat currency. It also has an advanced version for anyone who wants to deal with large amounts of Bitcoin. Join Bitpanda now >

Step 2. Deposit your BTC

If you already have an exchange account, you can start selling straight away. If not, then you will need to sign up first. Then transfer the Bitcoin you want to sell from your wallet to the exchange account.

Look out for the fees a platform charges. You will have to pay a blockchain fee (which is explained in more detail below) each time you move your coins and, while there often isn’t a fee for deposits and withdrawals of fiat currency, there can be for cryptocurrency. Do your research and factor in the fees when you choose a platform.

Step 3. Sell

To sell you have to choose which currency you want to exchange it for, and then search for that coin pair on the exchange. So if you want to be paid in GBP, search for the BTC/GBP pair. Then you can enter the amount you want to sell, the price you want to receive, and execute the trade. It can sometimes take a few moments to match your sell order with a buyer, and generally the more you want to sell the longer it will take.

Things to look out for

When it comes to selling coins, timing the decision is up to you, but there are lots of things that you want your exchange to provide as well. Here are the most important things to look out for when you’re choosing a trading platform.

Best price

Each exchange is its own market, so the price for each coin is likely to vary across platforms. The difference might only be small, but a little can go a long way, especially if you have a lot of coins to sell. It is certainly worth spending the time to compare prices on different platforms.

Low fees

You should think of fees like an extension to the price of the coin. You probably are going to have to pay something, as exchanges usually make their money through transaction fees. These can vary significantly between platforms though, from around 0.1% to 1.25%. Don’t forget about withdrawal fees either, as these are often different depending on the currency you withdraw, with much higher fees for cryptocurrency than the likes of GBP or USD.

Trading limits

There can be some restrictions on the amount you can trade. For most exchanges, this is in the form of a minimum trade value – £10, for example – but there can be other limits in the form of maximum daily deposit or withdrawals. Again, these vary across platforms, but if you intend to sell a lot of Bitcoin in particular, you need to consider this when choosing a platform.

Security

You want to be confident in any company or platform that’s holding your cash. There are many well-established, reputable crypto exchanges these days, but they aren’t as regulated as stock brokers. You have limited protection if anything were to happen to your money. The best way to deal with this is to pick well-regarded platforms. Use our reviews to help, and you can also get a good feel for what a platform is really like based on the reviews of other customers online.

Quick answers to key questions

Can I swap Bitcoin for another cryptocurrency?

Yes, you can swap it for most other crypto coins. Search for the ticker of the coin you want to exchange it for to find the pair – such as ETH/BTC if you want to swap it for Ethereum – and execute the trade. The only thing to note is that if you want to swap a lot of Bitcoin for a small altcoin then it might take longer to find a buyer, and you might receive a lower price than advertised.

Will I have to pay to withdraw my money?

Usually yes, but the amount can vary depending on which platform and currency you use. Withdrawing fiat currency via a bank transfer is often the cheapest method, and sometimes free, while you should expect to pay more to withdraw to a credit or debit card (or any other payment method). Likewise, moving cryptocurrency to a wallet often comes with a transaction fee as well.

Can I sell Bitcoin with PayPal?

Yes., you can buy, sell, or hold a select group of the leading cryptocurrencies from your PayPal account, but only in some countries. Bitcoin, along with Ethereum, Litecoin, and Bitcoin Cash, are all available at the moment and it’s likely that even more will be added soon.

Can I sell anonymously?

To some extent, although it’s difficult to remain completely anonymous. Most platforms abide by ‘Know Your Customer’ regulations, which require users to submit ID and/or verify their address to combat money laundering. A ‘decentralised’ exchange is your best bet to stay relatively anonymous, as on these platforms there is no central party to govern who can or can’t trade.

However, you need to have a cryptocurrency wallet to use a decentralised exchange, and wallet addresses can be traced back to you. You can increase your anonymity by using a peer-to-peer exchange, like LocalBitcoins, or a Bitcoin ATM, where you can be paid in cash. The trade-off is usually higher fees and a worse price than you would get on an exchange, and unfortunately even these options now often ask for some form of ID.

Can I sell Bitcoin for cash?

Yes, in some situations. As discussed above, you can use Bitcoin ATMs and peer-to-peer exchanges if you want to be paid in cash. You can also buy Bitcoin in that way as well. The other option is to facilitate a meeting with the buyer directly, but this is one of the least secure ways to sell.

Is it a good time to sell Bitcoin?

That depends on why you want to sell. Keep in mind that cryptocurrency markets are volatile, and significant price falls aren’t necessarily a reason to dump your coins if you believe in Bitcoin long term.

However if you want to exchange Bitcoin for a different coin, to move your money into a different investment, or simply to transfer it into a currency you can spend, then it’s all about the current price and whether you think that represents good value. You can use the news and analysis below to assess if the state of the market means the time is right.

Bitcoin’s hashrate has plunged by 16.94% over the past 24 hours after the Chinese province of Sichuan directed energy companies to stop providing BTC miners with power. A report unveiled this news on June 19, noting that the province took this step after a meeting between China’s Science and Technology…
Amber Group, a Hong Kong-based crypto financial services company has hit a valuation of $1.00 billion (£0.72 billion). A report unveiled this news on June 20, noting that the firm reached this milestone after securing $100.00 million (£72.00 million) in its Series B funding round. Reportedly, China Renaissance, an investment…
The crypto market has undergone a massive loss over the past few weeks with cryptocurrency prices plunging on the slightest negative remark. As a result, the entire market is currently bleeding with today’s losses, pushing the crypto market cap below $1.40 trillion (£1.01 trillion). This drop means that the crypto…

FAQs

Is there a different process for buying and selling Bitcoin?
Do I have to pay tax on Bitcoin when I sell?
Will the funds be deposited in my wallet?
Do I have to use the same platform as I bought Bitcoin with?

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Fact-checking & references

Accuracy is our number one priority. Our editors constantly review content across Invezz, ensuring all information is up-to-date and maintained where necessary. Read more about our fact-checking process >

James Knight
Financial writer
When he isn’t at work, James is an avid trader and golfer who likes to travel. He once fed, rode, and ate an ostrich all on… read more.