One of the possibilities provided on our website is the options to sell your Bitcoin. You can sell your BTC in 3 different ways on the EgeMoney platform. In this article, we will explain these options to you.
What is bitcoin? How does it work?
BTC is a cryptocurrency developed by Satoshi Nakamoto in 2008 and introduced in 2009. Besides that, it is a fully digital and encrypted currency that is not overseen by a central authority or bank.
Bitcoins are produced in a process called mining, and they can be used for peer-to-peer transactions over the network. Bitcoins offer safer, anonymous and faster transactions than fiat currencies.
Bitcoin is based on blockchain technology. Blockchain is a publicly visible data structure that records all transactions on the Bitcoin network. This data structure ensures that Bitcoin transactions are conducted in a completely secure, reliable and decentralized manner. As a result, Bitcoin has emerged as an alternative currency for people who want to avoid the economic crisis, inflation and other financial problems of the world’s countries. However, keep in mind that Bitcoin is still a new and emerging technology and its prices can be very volatile.
On our platform, you can transfer Bitcoin from your external wallet to your EgeMoney wallet. Thus, the Bitcoin you want to sell will be uploaded to your EgeMoney username. You can sell your Bitcoin in 3 different ways:
- Rapid Convert
- Spot Market
- P2P Market
Sell Bitcoin with EgeMoney Rapid Convert
With the EgeMoney Rapid Convert, you can convert Bitcoin in your EgeMoney Wallet into different assets. For this, you must first become a member and complete the mandatory KYC steps. To convert:
- Click on the “Rapid Convert” heading in the top menu.
- Choose which one to use from your external wallet or your EgeMoney wallet. You can use all four combinations.
- Then select the assets you want to convert. Since you will be selling BTC at this step, you must select the “You want to pay” as Bitcoin. After you enter the amount you want to convert, you will see the amount of the asset you will obtain at the bottom.
- After you click the “Continue to convert” button, you will go to the section with the confirmation pages. Once you’ve completed all the confirmations, your conversion is complete.
Sell Bitcoin on the Spot Market
- Firstly, scroll down after logging into the website.
- Click on the “Buy Bitcoin” heading in the Products menu.
- You will see data and graphs of the current pair prices of Bitcoin. On the right, you can see the order book.
- When you scroll down the page, you will see the Buy and Sell Bitcoin section. In the Sell section, you must first select the order you will place. Choose between Limit, Market, Stop Limit and OCO orders.
- Enter the amount you want to sell.
- Click Sell BTC button.
- Make your confirmations on the screen that appears.
Sell Bitcoin on the P2P Market
You can sell on the P2P market by posting your own ad. For this:
- Login to the website.
- From the Classic Markets menu, click on the “Traditional P2P Market” heading.
- Click on “Post a new ad” from the boxes on the top right.
- Select Bitcoin from the “I want to send” section.
- You can choose the title “I want to receive” according to your wish.
- Mark the price type as fixed or variable.
- Click Next Step.
- The total transaction amount, your payment method and min.-max. Enter the payment transaction amounts.
- Select the payment time limit and the last date of the sale transaction.
- Click Next Step.
- Set the communication options.
- After your approvals, your sale will take place if it reaches a buyer.