In the past nine months, the situation on the crypto market is not developing in the best way. The daily growth in the value of cryptocurrencies in the past year was replaced by news about new lows of the current year. If in 2017 many sought to buy cryptocurrency as quickly as possible in order not to miss the opportunity to make quick money, now they are thinking about how to sell cryptocurrency with the least loss.
This task becomes even more difficult given the number of cryptocurrency scammers. Users should be extremely careful when buying and selling coins.
Our editors talked to experts about how to get rid of digital money without loss. The specialists explained how to make a deal without losing your money and time.
There are several ways to exchange: selling directly through private crypto exchanges offline, selling through P2P platforms or OTC providers. But the most optimal way to sell cryptocurrency is to sell it on a professional cryptocurrency exchange. To do this, the investor needs to choose a site (better among the most popular and well-known), register, put up his volume of digital money for sale, indicating the amount, currency and cost. You can also gain knowledge from immediate edge, to understand profitable crypto trading algorithms.
Private exchangers
Several of these services operate in whole world. The exchange rate there will be much higher than the market average, large transactions will have to be negotiated, the choice of currency is likely to be small.
The problem with this method is that the client does not receive any guarantees. This is a certain risk and a serious overpayment for not delving into the details of working with digital money.
P2P platforms
These are peer-to-peer platforms. Here the commission will be noticeably lower . Users have many options with different rates, all that remains is to choose the appropriate one and follow the instructions in order to eventually transfer bitcoins to the seller for a certain pafPyment. This method is much simpler and faster than the previous one. The choice is much more, and the commission is less.
OTC providers
This method is suitable for selling a lot of digital money. Special agents bring together a buyer and a seller for a certain commission. In such a situation, there is no need to participate in the transaction yourself, you can entrust it to a trusted broker.
The problem is that it will not work to sell a small amount of cryptocurrency in this way. Usually brokers take on such transactions for an amount of at least $ 50 thousand. Using this method, however, like the others, you need to be extremely careful, as there is a chance of falling for the tricks of scammers.
Cryptocurrency exchanges
The most popular way to exchange digital money. The client works exclusively with the trading platform and does not interact with other users in any way. This is the safest way, but the main thing is not to forget about the high risk of hacking.
The main problem here is the complexity of registration and the passage of the verification process for an ordinary and unprepared user. This can take a long time, from several hours to several days.
