Best Way to Sell Bitcoins Online
Where to sell bitcoin in the United States
Early after its emergence, bitcoin has garnered a somewhat controversial reputation of currency for illicit purposes. As time went on, however, it became recognized by most regulatory agencies around the world.
The United States was perhaps among the most significant milestones in this regard, with crypto-enthusiasts around the world celebrating the CTFC’s recognition of bitcoin as a commodity.
Nevertheless, to this day, there is no clear answer to “How do I sell bitcoin and remain on the right side of the law?” Several federal authorities have different opinions on the matter, as do state regulators.
Fortunately, there is always a possibility to sell BTC online – either through a cryptocurrency exchange or over the counter. The first option is a universal solution for small and medium deals, whereas the latter caters to large-scale transactions.
If you start feeling confused – you are not alone: the cryptocurrency market is not exactly a newcomer-friendly domain. There are probably still people out there who dove headfirst into it and are now struggling to understand how to sell bitcoins back into cash.
This guide will lead you through the main issues of selling large amounts of bitcoin so that you could choose the method that best fits your needs.
Sell your bitcoins with bitcoin OTC broker
OTC stands for “over the counter,” a type of transaction that occurs directly between a buyer and a seller. It is considered the best way to sell bitcoin in bulk for a number of reasons. First, it involves no intermediaries other than the broker, which keeps fees low.
The peer-to-peer approach also means the deal can be closed incredibly fast, often in a matter of hours. On top of that, OTC platforms have generous buying or selling limits, which attracts clients with huge capital.
Finally, and, perhaps, most importantly, when you sell bitcoins OTC, the details of the deal remain private. On the one hand, it ensures the desired level of discretion valued by investors and traders alike.
On the other hand, it has no impact on the bitcoin price. The cryptocurrency is still in its infancy, so a single large public exchange for bitcoins may crash the market hard. So, if you are wondering where to sell bitcoins in bulk, an OTC broker may be just the place.
Simplest ways to sell BTC with Thejingstock
Fill our selling form
Selling BTC online starts with creating an order. A traditional cryptocurrency exchange platform leaves this task to a client, which can be convenient for seasoned traders but will be confusing to those with little experience of buying and selling Bitcoins for USD or other currencies.
A person-to-person trading site like Thejingstock takes the other route described simply as “selling your BTC for you.” To achieve that, we need to know how you intend to sell your bitcoins in as much detail as possible.
This is where the form comes in. At first glance, it looks huge and confusing. However, every field in it is a step towards the best way to sell bitcoins for USD or any other fiat currency you choose.
The most important areas are those where you specify the desired terms of the deal, such as the desired bitcoin’s price, preferred buying and selling limits, and net gross, among others.
Next, there’s the information about payment methods. For example, you may choose to sell bitcoin to pounds, US dollars, or other popular currencies.
You can also decide whether you need an escrow service or a face-to-face transaction offline as well as choose which banks you rely on to convert your bitcoins back to “normal” money. Finally, you fill in your personal information. This information is not disclosed to anyone and needed solely for complying with KYC/AML regulation.
By this point, you are halfway through the best way to sell bitcoins.
Our team will contact you
As soon as you specify how you would like to convert your bitcoins to fiat money, an expert from Thejingstock’s team will contact you via a communication channel of your choice.
We will verify all the critical details of the deal, such as your Bitcoin exchange wallet and exchange currency account to minimize the likelihood of the loss of funds. We will also sort out possible concerns and check whether the information you submitted is correct.
In some cases, our team will also discuss relevant aspects of the market, such as the instability of the current average market rate. Bitcoin and cryptocurrency, in general, are still in the early stage of development, so it is still not uncommon to see massive price swings on a weekly basis.
In such cases, traders are certainly justified asking “Should I sell my bitcoins now?” We recognize the potential risks involved and take responsibility for notifying our clients about them.
Deposit bitcoin into your account
Now that the details of your deal are confirmed, you are one step away from converting BTC into money. That is, you need to send the bitcoins to us so we could trade your bitcoins for fiat. This step may seem like a leap of faith, especially when it comes to large amounts of bitcoin, so we’ll need to look closely at how it works.
To make the deal happen, our broker will need to go through their order book to find a suitable counteroffer. Once both parties agree to a proposed deal, the trade is executed, and the funds are on their way.
In other words, what makes this method the best way to buy and sell bitcoins is the speed. However, for this to be possible, the funds need to already be ready for a release. This is where the escrow comes in.
In the simplest terms, an escrow agent is any third party (a person or an algorithm) responsible for the release of funds on both sides once the conditions of a contract are fulfilled.
The key here is the last part. As long as the escrow agent is there, the parties can be sure that either both receive what they want or nobody receives nothing.
This approach is an industry-standard in the world of peer-to-peer trading and the safest way of payment to sell bitcoins online.
How Long Does it Take to Sell a Bitcoin?
To be fair, the average time varies from day to day – even the largest bitcoin OTC broker occasionally deals with orders that have no matching counteroffers for days.
This is especially true for periods brief panic modes when the phrase “Where can I sell bitcoins” appears in everyone’s search history, and nobody wants to buy, or vice versa. On the other hand, once the deal is closed, you are literally done converting BTC into USD.
In other words, there is no standard time window for selling bitcoin online via an OTC service.
You can be certain, however, that it will be faster than on traditional online cryptocurrency exchanges, at least when it comes to selling bitcoin in bulk. Simply put, a broker is your best bet when you want to easily exchange bitcoin without delay.
Once you receive and review a deal from the broker, you are free to decide whether to go through with it. In many cases, there should be no difficulties after this point – you just confirm the deal and sell bitcoins for cash, a bank transfer, or a method that works for you.
Occasionally, there will be no perfect match in the broker’s book, so they will try to find something that is as close to your preferences as possible. In such cases, once you are presented with the offer, you can negotiate the terms with the buyer.
The broker will assist with the negotiation to ensure that both parties buy and sell bitcoins on the best possible terms. So the answer to “can I sell my bitcoins accidentally?” is a negative – sales of BTC occur only after you explicitly agree to it.
A word of caution: while cryptocurrency itself is recognized by most financial institutions as legitimate, there is no universal treatment for selling BTC.
Brokers cannot answer can you sell bitcoins under your local jurisdiction, so to stay out of trouble, you are advised to consult with a lawyer.
How to sell a large amount of bitcoin
Even if you end up on the best site to buy and sell bitcoins, there are still things to keep in mind if you don’t want to end up losing your money. First, pay attention to which payment systems and currencies are available on the platform.
This will give you an idea of how trustworthy the service is and what audiences does it target. This should not be the reason to dismiss a broker that can cash out BTC for USD only – but it certainly can be a red flag if they also claim to have partners worldwide.
Next, remember to check the service’s Terms and Conditions. Strictly speaking, these documents are the only thing that states the platform’s responsibilities.
Do they treat your personal data ethically? How can they confirm KYC compliance? If there are no suspicious statements or gaps – you will probably be able to sell bitcoins for fiat currency without any issues.
Finally, pay attention to the details. Is the website convenient and easy to use? Can you spot at once where to buy and sell bitcoins, read the FAQ, or reach out for support?
Does it provide a good range of options to cash out bitcoin once the deal is closed? If so, the service was built with the client in mind, and you can trade BTC for USD safely.
When is the right time to sell bitcoin?
The trickiest question after “where to sell my bitcoins safely” is “can I sell bitcoins anytime?” This may not seem like a particularly difficult one – after all, there are multiple online exchanges that work 24/7 and execute orders in a matter of minutes.
The complexity begins once the volatility is factored in. Compared to other financial assets, bitcoin is still at the beginning of the journey, so its price is far from settled.
This means that any piece of news related to cryptocurrency may lead to a spike in price, often within hours of being published.
Depending on whether you buy or sell bitcoins at the time, you may end up in green or suffer massive losses. Simply put, the right time to sell is when there are no surprises on the horizon.
The bad news is that there is no way to tell when the price is going to plummet. You could say that a volatile market is a bit like Spanish inquisition in that nobody expects it.
The good news is there are professional analysts who can at least estimate the likelihood quite accurately.
When looking for the best place to sell bitcoins, stick with brokers that inform clients, and offer market insights as a part of their services.
Benefits of selling bitcoin with Thejingstock.com
As a short recap, there are several main advantages of using OTC bitcoin brokers when selling large amounts of crypto. For starters, this method is among the fastest, with deals often closing within a matter of hours.
Next, the entire procedure is handled by a professional trader based on a single form that takes less than an hour to fill. On top of that, clients can enjoy detailed insights about the state of the market and the optimal deal conditions.
The process is also completely secure, with the funds remaining in control of their respective owners until the agreement is reached.
Finally, OTC services are recognized as legitimate by U.S. financial authorities, so you can be certain not to break any laws during trading.
All things considered, an OTC broker like Thejingstock offers one of the simplest ways to sell bitcoin online without sacrificing safety.