Do you want to start trading crypto? This article explains in-depth how you can sell Bitcoin for cash. In fact, there is a review on how to sell your BTC with the eToro broker.

sell bitcoin

The preliminary steps to selling your Bitcoins

To talk about selling Bitcoins, you still need to be able to sell it. There are a few steps to take before you can sell bitcoins. But which ones?

First, you need to buy Bitcoin! For this, you must already choose a platform to do your crypto trading. Next, you need to create an account. Are you finally ready to buy Bitcoin? We advise you to read our dedicated guide to find out how to buy Bitcoin on eToro.

eToro

  • Number 1 copy trading platform
  • Integrated social network for traders
  • Trading cryptocurrency CFDs

In addition to buying bitcoins, you need to think about a way to store them. If you use a classic crypto exchange, it is best to use a crypto wallet. You have the choice between a hot wallet or a cold wallet. The hot wallet is easier to use, but presents more risks.

Indeed, it is online storage, which is therefore subject to cyberattacks. The cold wallet, on the other hand, is more secure since your cryptos are never stored online. On the other hand, this type of wallet requires more complicated handling.

Some brokerage platforms, such as eToro, offer CFD trading. The CDF is a trading instrument that allows you to bet on price differences. On the other hand, with CFD trading, you do not own the asset. In case you are trading Bitcoin CFDs, you do not need a wallet. Indeed, as explained above, you will not own BTC coins.

How to sell Bitcoin (BTC) on eToro?

For simplicity in this tutorial, let’s take the eToro brokerage platform as an example. Find out below the main steps for selling Bitcoin on eToro. As explained above, it is assumed that you already have an account on eToro and that you own Bitcoin.

Select the cryptocurrency Bitcoin (BTC)

The first step is to find the crypto you want to buy or sell. As it happens, in this article, you want to sell Bitcoin. You should know that the eToro platform offers hundreds of cryptos for trading. Additionally, it also offers other types of assets like Forex, commodities, stocks, etc.

So, how do you find Bitcoin amid all these choices? The easiest way is to use the search tab (the magnifying glass) on the platform’s home page. Just type “Bitcoin.”

sell bitcoin

The exchange will then offer you two cryptos named Bitcoin: BTC and BCH. As a reminder, BCH crypto refers to Bitcoin Cash. Please note that even if BCH comes from the Bitcoin blockchain, it is not Bitcoin. You must, therefore, choose the other option: Bitcoin (BTC). You only have to click on the Bitcoin (BTC) line.

sell bitcoin

Navigate to the tab associated with Bitcoin

You then have access to several tabs which provide you with information about Bitcoin, such as:

  • Overview As its name suggests, this tab presents some general information about Bitcoin. So, you will mainly find the Bitcoin price graph there. On this chart, you can view the price of Bitcoin by choosing the desired time constant: 1 day, 1 week, 1 month, 6 months, 1 year, 3 years. At the bottom of the chart, the platform provides you with general Bitcoin data, including:
  • Its capitalization;
  • Its trading volume over the last 24 hours;
  • The maximum and minimum of the course over the day;
  • The maximum and minimum of the course over the year;
  • Its dominance, that is to say, the “weight” of the capitalization of Bitcoin in relation to the overall capitalization of the crypto market;
  • Its ranking in terms of capitalization.
  • Statistics.
  • This tab provides more specific information than the overview above. You will find the Bitcoin price graph as well as some data, such as its capitalization. But this tab also gives you access to other information on Bitcoin, such as:
  • Its closing price;
  • The percentage of coins in circulation;
  • The ratio between trading volume over the last 24 hours and capitalization.
  • Chart. As its name suggests, this tab is a Bitcoin price graph. But this graph contains more information than the previous graphs. Indeed, it is a candlestick chart by default. You also have certain tools for drawing course models. This is a tab intended for experienced traders.
  • Analysis. This tab provides analyzes of the Bitcoin price. You will find very useful information there as well as charts to guide you in your crypto trading.
  • News. This tab lists the latest news relating to Bitcoin..

Sell Bitcoin

The last step is to sell your bitcoins! To do this, simply click on the “invest” button, then on “Sell.”

All you will have to do is define the parameters of your operation such as:

  • The number of bitcoins you want to sell;
  • The way you want to sell. On eToro, you can use leverage which allows you to maximize your winnings. However, these leverage effects should be used with caution because they can also amplify your losses! This is why the eToro broker provides you with tools like STOP LOSS or TAKE PROFIT which allow you to control your sale.

Once you have provided this information, all you have to do is click on”Open position.”

eToro

  • Number 1 copy trading platform
  • Integrated social network for traders
  • Trading cryptocurrency CFDs

Our conclusion on how to sell Bitcoins

eToro is a great trading platform for buying or selling bitcoins. It is one of the most effective and relevant platforms. We highly recommend it, in particular thanks to its pragmatic approach, its ease of use, but also and above all its security. Naturally, this is not the only option available, and other cryptocurrency trading platforms also deserve our attention. We think, for example, of Binance or Coinbase, which allow you to buy and sell Bitcoin with ease.

FAQ - Frequently asked questions about how to sell Bitcoin

How to sell Bitcoin on eToro?

To sell Bitcoin (BTC) on eToro, it’s very easy. Simply log in to the platform, go to the BTC page and enter the number of Bitcoin you want to resell. Once you have decided how much to withdraw, you can place your sell order. If it’s at the market, it will pass pretty quickly. If it’s at the market, it will pass pretty quickly. If it is an order for a future value, you will have to wait for the price of BTC to rise or fall to receive your sell order.

Is eToro a good platform to sell Bitcoin?

The answer is yes! eToro is a recognized and secure trading platform, which has proven itself over the years. Although it is not exclusively cryptocurrency-oriented, it is a great tool for buying or selling your bitcoins (BTC) at the best price.

Is eToro reliable?

eToro is a relatively reliable platform if you want to sell your Bitcoin. It is recognized as being secure and has implemented numerous features to ensure smooth use and transactions. We are thinking in particular of 2FA authentication!

What fees does eToro impose on the sale of Bitcoin?

eToro charges a fixed commission of 1%. It is automatically calculated and this commission is directly included in the price displayed by the platform when you open or close your position.

Is it easy to sell Bitcoins?

Clearly, yes! It has never been easier, faster and more secure to sell Bitcoin, whether on eToro, Binance or any other type of platform. In fact, more and more people are positioning themselves on these alternative values, thus giving hope for a significant increase in the market in the years to come.

How do you sell Bitcoin for cash?

You can sell Bitcoin for cash via any of these methods:  Use a crypto exchange to sell the Bitcoin Use a crypto broker to sell the Bitcoin Use a peer-to-peer platform to trade your Bitcoin Exchange the Bitcoin for another crypto and cash out Withdraw from a Bitcoin ATM

How do you sell Bitcoin for cash from an ATM?

To sell Bitcoin for cash from a Bitcoin ATM, follow these steps: Locate a Bitcoin ATM near where you are Verify your identity (if needed) Start the transaction from the ATM Scan the provided QR code to reveal the destination for your coin Confirm the amount you want to send Review the transaction details carefully Finish the transaction Take your cash which will be dispensed from the ATM Take your receipt from the ATM Secure your cash

About the author

Tobi Amure

Tobi began his career in 2017 as a crypto writer, where he focused on producing educational content. He worked with Stockbossup, an investment platform dedicated to educating black people. Prior to that, he worked as a copywriter with Turboxbt, a crypto trading platform. In 2021, Tobi joined Watcher Guru as a crypto news editor. He was recognized as one of the top 333 web3 creators on LinkedIn for crypto in 2022.