Dr. Robbs Crypto Guide

You can sell Bitcoin at the same venues that you purchased the cryptocurrency, such as cryptocurrency exchanges and peer-to-peer platforms. Typically, the process to sell Bitcoin on these platforms is similar to the process used to purchase the cryptocurrency. For example, you may only be required to click a button and specify an ordering kind( i.e ., whether the cryptocurrency should be sold instantly at available costs or whether it should be sold to limit losses) to conduct the sale. Depending on the market composition and necessitate at the venue, the offering price for Bitcoin may vary. For example, exchanges in South Korea traded Bitcoin at a Kimchi premium during the run up in its prices back in 2018.

Cryptocurrency exchanges accuse percentage points of the crypto sale quantity as fees. For example, Coinbase fees 1.49% of the overall transaction sum as fees.

Exchanges generally have daily and monthly withdrawal restrictions. Therefore, money from a large sale may not be immediately available to the trader. There are no limits on the amount of cryptocurrency you can sell, however.

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