How To Sell Bitcoin Cash (BCH)?
Crypto markets are generally showing to be more vibrant in trading than the other financial markets. There might be many reasons for that: 24/7 trading operation, the variety of coins to choose from, the participation of millions of retail investors, and so on. That’s why it’s no wonder if one day you’re looking to sell Bitcoin Cash for Bitcoin while on the other day you’re considering to go the other way around and focus entirely on the cryptocurrency staking. Testing and performing various strategies are okay and it’s quite natural for this kind of market but you have to remember one thing. Always do your own research to make informed decisions. Of course, you might hear it from everyone, but we’re going to repeat this again. Because being cautious is the first strategy that you want to follow for your own safety. Moreover, there is no other feeling as sweet as the feeling of multiplying your crypto holdings.
How to sell Bitcoin Cash for USD?
So let’s say you have decided that you need to sell BCH the sooner the better. You might have them somewhere on the hot wallet in your account or on the cold storage like the specific hard drive. Alternatively, it can even be a wallet address printed on a small piece of paper with a QR code on it. Make sure you don’t lose this piece of paper or else you’ll just lose all your funds and there won’t be a way back. Now, let’s pretend you’ve got everything in place. What do you need to do now to turn those BCH into another crypto of your choice or even the real-world fiat money? Let’s go step by step.
The first thing you want to do is find a decent exchange that you can trust. You need to be sure that your funds are safe here and that the transaction will flow fast and smoothly. Sometimes the specifics of some blockchain can play the role and transactions do take more time than it’s comfortable for you to wait. If that’s the case, search online and make sure that the network isn’t currently undergoing some major changes like the hard fork or the new architecture configuration deployment which can affect the fund’s movement. Once you found that everything’s fine, you can proceed. For example, CEX.IO always offers additional safety measures and also checks each blockchain in accordance with the enhanced due diligence procedure before allowing any transactions on their basis. We are always striving to make sure that the network is legitimate and it won’t harm the safety and funds records of our customers. Additionally, if the network is up to some changes and alterations, we are always notifying our users of those through all our communication channels.
To sell Bitcoin Cash, you first need to make sure that it’s the right moment to do so. So what you can do is to go to one of our price charts like BCH to USD or BCH to BTC and check the price dynamics of this coin. If you consider the price to be profitable for you, then you can move on and transfer the BCH amount that you have into your CEX.IO account. To do that, you need to make a few simple steps.
You can proceed with selling BCH at CEX.IO in a few simple steps. Here’s what you need to do:
Register (in case if you don’t have a CEX.IO account yet) or log in.
Verify your account
Verify your account (there are a few steps to this process as well depending on the amount of funds that you’re operating with). Verification is important to protect your account from the malicious attacks of crypto scammers.
Make a deposit
Make a deposit. You can deposit both fiat and crypto funds to your CEX.IO account. If the prices look good to you, you can exchange fiat money for BCH and then sell it for an even better price. Alternatively, you can deposit the Bitcoin Cash that you already have and then trade it, exchange it, and withdraw to your credit card.
That’s it! As you can see, CEX.IO has made the process of selling crypto very simple and straightforward. You don’t have to be a crypto Ph.D. (if these kinds of degrees even exist) to operate all kinds of crypto on your CEX.IO account. What’s more, you can use whichever option you like the most - a web version in your browser or a mobile app version. The mobile app allows you to make decisions on the go and never miss the right moment of turning some profitable market possibilities into additional funds in your wallet.
Should I sell Bitcoin Cash?
It’s up to you to decide whether it’s an appropriate moment right now to sell this particular kind of crypto or not. Remember, you shouldn’t take anyone else’s financial advice for the ultimate truth because no one knows for sure what will happen. Even psychics didn’t know about the rallies on a BTC exchange these days. Otherwise, they would all be millionaires by now. So take all the information with the grain of salt and always do your own research including studying the information from multiple independent sources. Of course, studying financial analysis made by professionals might not be easy because they mostly use a specific language and the so-called buzz words that people without some solid financial background might find difficult to comprehend. Not to mention making your own decisions based on piles of numeric and graphical data. Make sure that the media source you’re studying can be trusted and that its data is legitimate and based on real scientific exploration.
Where & when to sell Bitcoin Cash?
One of the places where you can sell Bitcoin Cash is a cryptocurrency exchange. In order to get the best result, you need to choose a platform where you can attain the maximum security of your transaction. Typically, such exchanges like CEX.IO offer quite a bunch of security measures. For example, the 2-factor authentication helps to protect your account from breaching privacy. While you’re using this method, access to your account is safeguarded by this algorithm. Verification and the combination of hot and cold storages are also among the safest methods that CEX.IO uses to ensure the safety of our users.
Another way to ensure a safe and efficient transaction is to choose the regulated exchange. CEX.IO operates in accordance with applicable laws and regulated by authoritative organizations in different regions. That’s why you can be sure that the usage of our services correlates with the highest industry standards and is absolutely legitimate.
Also, you can check if the exchange where you want to sell BCH offers multiple assets to trade with. By this, you can conclude that their markets provide a lot of opportunities for your benefit. For example, not only you want to look for the Bitcoin to Dollar option but also for combinations of other crypto to crypto and crypto to fiat pairs. As for choosing the right moment to sell, you need to perform a thorough analysis before making the decision.
How to sell Bitcoin Cash from the wallet on CEX.IO?
There are quite a few methods of selling BCH once you’ve logged into your CEX.IO account and have these coins on your actual balance. One of them is to sell on the Trade page. You can place the type of order which suits best to your needs and strategy. Market order will be for the instant execution at the market prices whereas the limit order will be reasonable if you want to set the specific price at which you want to trigger the selling procedure. You can always track the price fluctuations on the price chart of the pair that you choose to follow and then make an appropriate order which you’ll get completed with the consideration of the current market prices.
However, if you want to sell them right now and get the hard cash on your credit or debit card as fast as possible, you need to choose another service of ours. That could be the Instant Sell feature. Using it is easy and doesn’t require any extensive knowledge on financial matters. And if you’re one of those modern guys who spend most of their time with their smartphone in the hands, we’ve got a suitable solution for you as well. Just sell BCH instantly in the CEX.IO mobile app, and get fiat money within the shortest timeframe. After you do that, you’re free to spend your own real money just the way you please.