Fortunately, in our country, selling Bitcoins is even easier than buying them. Therefore, in this post I am going to explain how to sell Bitcoin in Spain in a simple way.
The crypto environment is teeming with gurus who claim to know the best time to buy or sell Bitcoins and offer exorbitant profit margins as promise.
Our recommendation is that before trusting these types of gurus, look at the sun and ask them. It is very likely that you will get a more accurate answer.
The reality is that no one knows for sure when is the right time to sell Bitcoin, although there are people who are much more prepared than others to approach to hit the nail on the head.
The important thing is to have the knowledge to do it and learn to sell bitcoins in a simple way, so that when the time comes, we can do it without problems and quickly.
There are many ways to sell bitcoins and each one has different characteristics and costs. Let’s do a brief review of all of them:
This is one of the options most used by users, due to the facilities they provide to sell bitcoins in a simple way.
We simply have to create an account on the exchange and most likely they will ask us to go through a KYC (Know Your Customer) process in which they will verify our identity and request a personal bank account to withdraw the funds.
Once approved on the platform, and if the exchange has an established sale price that seems fair to us, we must click on the “sell bitcoins” section.
If instead the platform allows us to trade with other users, we would have to set the price for which we want to sell our bitcoins (eg 12,000 euros) and the exchange will be in charge of completing the transaction once it finds a buyer willing to pay that price .
When the funds are credited to the account within the exchange, we will have the possibility to withdraw them to the associated bank account. This process, while simple, can often take a little longer than expected.
Among the disadvantages of selling your bitcoins in an exchange we can highlight the need to provide data about our identity, the level of centralization they handle and also the excessive commissions that many of them charge their users.
On the other hand, almost all exchanges impose a limit on the amount of money that can be withdrawn and it is important to bear in mind that when our cryptos are on the exchange they will not be ours. That is why it is always advisable not to store our funds in the exchange, but in a wallet and only transfer them to the exchange when we need to carry out operations.
– Peer to peer portals
These exchange portals allow you to sell bitcoins directly. The transaction will be carried out from person to person (p2p) and the portal will be in charge of acting as an intermediary to ensure that the operation is carried out satisfactorily.
In this case, the portal acts as custodian of the funds while the transaction is carried out and does not release the funds until it certifies that both parties have fulfilled their part of the deal.
Here we will also have to go through a KYC process and provide our personal data when registering as sellers. When we are approved, we will have the authorization to publish an offer for the sale of bitcoins (eg. I am selling 0.5 Bitcoins at 6000 euros).
When a buyer who sees the offer decides to negotiate with us, we can start a conversation with him.
Once the payment is made and the buyer notifies the system that he has made the operation, the platform executes the transaction.
In the event of any failure or problem between the parties, the platform will act as a judge to resolve the situation.
All person-to-person exchange platforms charge users with some type of commission for the service provided as an intermediary. In addition, although it is a valid alternative to buy cryptos, it is usually cumbersome and is not one of the best options if you want to sell bitcoins easily.
Perhaps the latest innovation in terms of buying and selling Bitcoin, increasingly spreading around the world. Just as there are traditional ATMs, there are also cryptocurrency ATMs.
In Spain, Bitnovo has a network of ATMs that will allow you to buy and sell cryptocurrencies in a matter of minutes. In the event that you want to sell bitcoin in Spain in a simple way, you simply have to go to an ATM, follow the steps and withdraw the amount of the sale in cash.
A recommended option for both users and sellers who want to install a crypto ATM in their own store.
– Bitnovo platform
Both the website and the app of our company differ from most options in the market, and that is part of our tireless effort to make it easy for everyone to buy bitcoin. With mistakes, with successes, but always with that focus.
Bitnovo is not an exchange and therefore does not charge fees for transactions between users. We are the ones who buy and sell and therefore function as a typical store (with its purchase and sale prices in real time).
Therefore, if you are looking for a simple way on how to sell Bitcoin in Spain, trust us that Bitnovo is a great option.
Now that you know how to sell your Bitcoins, you are well prepared for when the time comes to do it. If you want to know more about how to buy or sell crypto, join our Telegram channel with more than 700 users.