Buy or Sell bitcoin for cash

Agenda

Before we can get closer to ways of buy/sell a Bitcoin, Tokenexus analytics at https://tokenexus.com/en advise that you should clearly examine the alternatives of storage methods for this cryptocurrency to avoid any scammers. 

If you think that this overview is not so important, then pay your attention to the fact that in 2018 the amount of stolen money by scammers in the crypto market amounted to more than one billion dollars! Therefore, in order not to become one of those who lost their money as a result of the scam, you should be aware of the security measures that each user needs to take.  

In general, to better understand how a data storage for crypto looks like, just try to imagine it as a mechanism that keeps your open and individual encoding keyset that allow you to both accept and send crypto.

This is the reason why digital currency data storages should be divided into two main types:

  • Online Wallets (Internet-based)
  • Hardware Wallets

And so for a start, we will overview the options of online wallets, as well as their pros and cons compared with the hardware options and show which one will be the most appropriate variant for you to avoid deception.

Online wallet reviews

The so-called online wallets are certain websites on which traders and ordinary users store their digital money. As we have indicated earlier, such wallets can be very dangerous because of cheaters. Despite the fact that security technologies are continually raising the bar from possible scammers, annual statistics suggest that this is a risk, and accordingly, you can become the next victim of such deceptions.

Digital currency hardware storages reviews

Such wallets are sometimes referred to as cold wallets by traders. Since the access to them is tied to a specific device, and therefore, without having constant access to the Internet, the danger of deception, such a wallet is not possible. It is this feature of hardware wallets that gives their owners more confidence that the entire cryptocurrency in which they invested will not be stolen. 

Moreover, one of the strategies of crypto trading (called Holding) involves the storage of cryptocurrency for a long time, so that in a few years when the rate of the promising currency grows and enriches its owners.

Most often, hardware wallets are represented by various USB devices that resemble flash cards. Such a tool allows you to protect the contents from cheaters in a completely autonomous mode. And this, in turn, contributes to absolute protection from scam attacks.  

Moreover, a cold wallet allows its owner to establish something like a reliable multi-valued pin code. Therefore, before using such a wallet, you need to know the password to access the data itself. This is very convenient if the owner, for example, lost a hardware wallet. Even in this case, worries about the fact that the data will get to the outsider is absent.

Hardware wallet tools

Now, when we figured out the features of hardware devices for storing cryptocurrency, it is worth to overview the tools themselves, among which are:

  • Electronic application wallets 
  • PC data storage
  • Bitcoin paper wallets

Electronic applications wallets reviews

A crypto-mobile wallet is essentially a data storage on your smartphone. Thanks to this, you can always take it with you and use the cryptocurrency anywhere. This option is more suitable for small or daily transactions, as it gives its owner the opportunity not to take any additional devices with him. 

However, according to Tokenexus experts at https://tokenexus.com/en, it’s still not worth keeping large amounts of coins in such a wallet, as this can become some simple objective for scammers once your phone is connected to the Internet. 

PC data storage reviews

A desktop wallet is a program that you download and install on your personal computer. However, for all its simplicity, there are a number of nuances in the use of such a wallet.

First of all, some of the wallets before using one or another cryptocurrency will need to additionally download and install the complete blockchain record of the cryptocurrency itself, which you plan to keep there. Secondly, there are wallets that can store and work with only one digital currency.

Bitcoin paper wallets reviews

This is just another method by which your personal data will be stored on a so-called sheet of paper. By itself, a paper wallet is an outstanding substitute to hardware storages in case you want to keep your cryptocurrency safely, but you cannot allow yourself to purchase a hardware wallet.

How to choose a cryptocurrency wallet?

Before we begin to overview what kind of data storage, it is better to pay attention to the following options and advantages of some popular wallets. These parameters include:

  • Safety
  • Fees for service
  • User-friendliness of the wallet
  • Flexibility
  • Client service

Safety

That is, the level of safety your wallet that it has from cheaters.  

Fees for service

How much does a wallet service cost per month? Since some wallets are paid programs, and monthly user fees may be charged for their use. Therefore, it is essential to understand how much this commission.

User-friendliness of the wallet

How convenient your wallet is in daily use? Does your wallet support multiple cryptocurrencies?

Flexibility

How convenient it is to carry your wallet with you in case you need to make small purchases every day.

Also, an important parameter is the so-called updates of a wallet. Whether your wallet is a modern device and has the ability to receive security and other updates.

Client service

If you have any technical difficulties with your wallet, does the manufacturer have a support service?

Selecting a wallet for Bitcoin

After we have listed the basic parameters when choosing a wallet, it’s time to make a choice. In turn, the decision to select a wallet is based on four main settings, namely:

  • Total number of coins
  • Level of your knowledge 
  • Your movability level
  • The frequency of use of cryptocurrency for calculations 

Now let’s look at each of these points in more detail and try to understand why they are so important.

Total number of coins

We have already said that the most secure way to store coins from cheaters is to use hardware wallets. However, it should be understood that the cost of such storages is very high. For example, a decent cold wallet costs at least $ 70. On the other hand, for people who plan to invest in cryptocurrency large sums of money and want to get a decent level of security from scammers – this amount is not something transcendent.  

However, if you plan to invest up to $ 500, then on such wasting money on such a wallet is an absolutely unnecessary and such investment in security are impractical.

Level of your skills

It should be understood that, hardware storages are a safer way to keep digital currency from deception, as they are at the same time more sophisticated technical devices. Therefore, if your level of knowledge is just “a beginner” than the use of such wallets can cause difficulties in handling this device during daily use.

That is why if you are just a novice trader, the use of such hardware wallets for storing cryptocurrency is not entirely correct. In this case, it would better to try a uncomplicated software data storage.

Your movability level

If you often make various trips and rarely stay in the same workplace, the online wallet is an ideal option for your cryptocurrency storage. Online wallets help their owners access their crypto coins from anywhere in the world. 

That is why the use of mobile wallets is often becoming increasingly popular. It is not convenient for every user to continually carry a hardware wallet or laptop with them where the so-called desktop wallet will be located.

If we consider the option of a mobile wallet, namely an application that can be installed on your phone, then there is a particular danger of the scam. In case of loss, all data may be available to third parties. That is why it is imperative and necessary to make a backup of your data and keys, which you can restore from any other device.

The frequency of use of cryptocurrency for calculations

If you are actively cryptocurrency for daily purchases or transactions, the choice of a mobile wallet is the best option for you. However, if you keep cryptocurrency on your data repository for an extended period of time and do not plan to spend it, as is in the case with “Holding” strategy when in this case, it will be more convenient to use a hardware device that will help ensure security from scammers for many years. 

Additional measures to make storage more secure

Of course, the choice of one or another storage for your cryptocurrency is a significant factor in the security of your account from cheaters. However, it is necessary to take into account other factors that may affect the safety of your coins.

Next, we will analyze a few essential tips that can be used by both beginners and experienced traders for more professional protection of their account from scam.

Data privacy

Never tell other people about the sums you keep in your wallet. The world has repeatedly recorded cases of people being abducted and robbed by cheaters in order to steal crypto wallets or information that gave access to a crypto account. The correct way would be not to disclose this information to your friends and other people. Although your friends and acquaintances most likely will not be the cause of your concerns, nevertheless you will be much quieter to know that this information is available only to you. 

Wallet Type

Never tell on what type of wallet you keep your cryptocurrency. Do not forget that cheaters can find out your encryption key or password recovery keywords, and if they know what kind of device you use, they may try to access it. 

Create backup copies of your wallet

Additional security measures from scam also include creating of your data storage device backups which, in case of loss of the main wallet, loss of access or other technical problems, will help restore access to your account.  

Stay tuned for the latest hardware and mobile wallets updates

Since the software of many devices, as well as their mobile versions, are updated continuously to improve the level of security from scam. The emergence of new security protocols should be given special attention while updating your wallet.

Many users do not pay attention to updates, and in fact, it is new updates that may contain protocols that have become relevant recently. The developers of crypto wallets are continually improving the level of security from cheaters, so it is not worth neglecting additional security measures in the modern world.

After we have discussed as the main methods of storing cryptocurrency and protecting it from a scam, it is worth moving to the issue of buying and selling Bitcoin.

How to buy Bitcoin for cash?

Today there are a considerable number of different ways to purchase this coin.

Traditional way reviews

One of the easiest ways to buy Bitcoin is to use your credit or debit card. Sometimes a trader can also use a bank account, though this is not recommended as your data may be known to third parties on the Internet. Be careful on which sites you will purchase because they can easily result in a scam of your account.

Cash payment reviews

You can also buy cryptocurrency with cash. However, it should be borne in mind that such an exchange is not possible in every country.

Bitcoin ATMs reviews

If you have difficulty with access to the Internet, then you can use the so-called Bitcoin ATMs to buy Bitcoins for cash. Bitcoin ATM is directly connected to the Internet and allows users to use cash to purchase cryptocurrency. 

After depositing money in the ATM, you will receive a paper receipt, which will contain the blockchain key. Such ATMs often resemble ordinary ATMs for cash withdrawals. Today, there is a significant increase in transactions through similar Bitcoin ATMs around the world. 

Bitcoin Gift Certificates reviews

Another very convenient way to buy Bitcoin for cash is the purchase of so-called gift cards. Such a unique way of buying cryptocurrency is possible through secure Internet portals. 

After transferring funds from your bank account or credit card, a similar gift certificate will be sent to your address. Subsequently, the recipient of such a gift card can also be someone among your friends, relatives or acquaintances to whom you decide to donate such a certificate. Later on, they can easily exchange it for cash or keep it for further storage and use.

How to sell Bitcoin overview

Recently the Bitcoin has become a very convenient tool for making purchases online. At the moment, such companies as Amazon, Microsoft, eBay and Subway allow their visitors to make purchases and pay them with this crypto coin. That is why today a very topical question has arisen where an ordinary user or an experienced trader will be able to sell or buy Bitcoins.

The fact is that a Bitcoin transaction does not take much time, and it can take about 2 minutes. However, in order to withdraw money to your bank account, for example, from one of the cryptocurrency exchange, you may need up to several days. That is why, in this article, we would like to consider the issue of selling Bitcoin in the most optimal ways that are available to users in 2019.

How to sell Bitcoin for cash reviews

The growing number of transactions in which Bitcoin is used has contributed to the fact that more and more platforms and services have begun to appear on the Internet. Actually, they help users buy and sell the cryptocurrency more efficiently, including exchanging Bitcoin for so-called fiat money – dollars or euros.

There are many ways to exchange Bitcoin for paper money, but when choosing one or another method, you need to answer the following questions for yourself, namely:

  • How many Bitcoins do you want to sell?
  • The price at which you want to sell Bitcoin?
  • How much time are you willing to spend on a transaction?
  • The answers to these questions will help you to choose the most convenient way of selling the coin.

Bitcoin sale on cryptocurrency exchanges

In One of the easiest ways to convert Bitcoin to paper currency is to sell it on cryptocurrency exchanges. Similar exchanges play the role of intermediaries who help sell your Bitcoin to another user. The most popular cryptocurrency exchanges are:

  • Binance
  • CEX.IO
  • Coinmama
  • Coinbase

Regardless of which cryptocurrency exchange you choose, before you can sell your Bitcoins, you will need to go through the procedure of registering and authorizing your data, as well as linking your wallet and account to a bank account.

You should also understand that registration on cryptocurrency exchanges will require the user to provide a photo for verification of identity. Such identification of user data can often take up to several days, so this point should be taken into account when selling Bitcoin. That is why you should register in advance on the crypto exchange, and at the moment when you need to sell a cryptocurrency, you will be ready for that.

After you have passed the authorization procedure at one of the crypto exchanges, you need to take your deposit address from the crypto wallet and send the Bitcoin that you plan to sell to it. Also, some exchanges provide their users with the possibility of so-called sales with a delay. In other words, after placing a sell order, a user can specify a price below which Bitcoin will not be sold.

This method is very convenient in cases where the coin volatility on the market is high. In other words, the exchange rate may vary every minute.

After you have placed an order on one of the cryptocurrency exchanges, and the sale of Bitcoin has been completed, the amount of money in the currency you selected for purchase will be transferred to your account. 

We draw your attention to the fact that cryptocurrency exchanges often charge a fee from their users for various trading operations. That is why pay your attention to the commission that you have to pay with each sale. In some cases, the sale of coins on a particular stock exchange is very disadvantageous, so make your choice carefully.

P2P Exchange

The so-called use of peer-to-peer trading is a very effective alternative to selling Bitcoin through a crypto exchange. Such P2P exchanges are also likely to require you to create an account and authorize your personal profile. Selling Bitcoin through such exchanges is a more rational way. In this case, the user can sell coins using the so-called pending order. In other words, the user specifies the price for which he is willing to sell one or another amount of cryptocurrency, and if the buyer fits your price, then the transaction is made very quickly.

As soon as a buyer is placed on your offer, you will receive a signal from the exchange, and if you agree, you will need to confirm the trading operation. Technically, you send the specified amount of cryptocurrency to the buyer, and at that moment, he/she will automatically transfer the corresponding amount for coins. There are also websites such as LocalBitcoins or Paxful that provide their users with a variety of payment methods, among which are the following:

  • purchase with gift cards and certificates;
  • Buy with cash (face to face option);
  • Sending money using postal orders and so on.

One of the main advantages of the P2P exchange is that in this case, there is no intermediary. That is why direct transfers between users are very convenient. Also, there is no risk that your money may take possession or hackers will steal them.

However, it is necessary to take into account the moment that the sale of cryptocurrency on such exchanges has its own nuances. Such sales between users may take more time. Moreover, such deals will require a personal presence of the seller at the time of purchase to confirm the transaction, and this is not always convenient.

Tokenexus

Today, this exchange is one of the most effective and convenient platforms for trading cryptocurrency online. The main advantage of the exchange is the use in trading operations of more than 20 of the most popular cryptocurrencies, which in turn allows customers not to switch between their accounts and perform all trading operations in one place. Here is what traders who work with this crypto exchange say:

This crypto exchange has become for me one of the most optimal and fast ways to exchange my cryptocurrencies. Very pleased with the speed of all trading operations and the time that the time to receive and transfer funds is minimal. Before that, I tried quite a lot of online services for translating-30 from Bitcoin into cash dollars. However, in my opinion, this service is the most convenient as it allows its users to perform all trading operations with maximum speed and security. For all novice users of traders, it is imperative that such a stock exchange exchanges a commission for trading operations. This service has the incredible advantage of a low commission and also a high degree of security and managed to conduct more than 15 transactions to transfer funds from Bitcoin to fiat money, all of them were successful.
It is also worth noting that at this exchange, the rate of buying and selling cryptocurrency is one of the most profitable. One of the main advantages of this service is also the fact that the course can be instantly fixed during a trade operation due to the fact that this company has its own miners.
That is, if you take a look at the overall picture of this crypto exchange, then its advantages compared to other popular services are absolutely undeniable. For me, it was very important that the rate at the time of selling Bitcoin has not changed as it often happens on other popular services.
This crypto exchange provides users with the ability to trade and conduct transactions with more than 20 of the most popular cryptocurrencies. It is also worth noting that for users who hold trades with substantial amounts, a separate trading platform has been created for which traders can see the buying and selling volumes of interest from other users.
Today, the cryptocurrency market, however, this does not prevent me from making decent money every month by selling Bitcoin. In my opinion, cryptocurrency trading in 2019 is a very profitable investment that helps to ensure decent earnings for its holders. I don’t like to give forecasts, and I don’t readily believe that there are a lot of projections on the Internet at the moment. However, it seems to me that the year 2019 will have a positive effect on the growth of the popularity of most top 10 cryptocurrency courses in terms of capitalization. I wish you all successful trading!

I invested my first money cryptocurrency market in 2016. After that, the market showed both ups and downs. However, I was lucky not only to save my investments but to increase them a little. The fact is that all this time I worked with one of the best сrypto brokers and it was he who, after I got the money out and decided to start trading on my own, advised me to turn my attention to the Tokenexus crypto exchange.  
Among the main advantages that I noticed working with this crypto exchange is a much larger number of cryptocurrencies compared to other crypto exchanges which I can work with. Moreover, I was pleasantly surprised by the speed with which transactions take place between users. 
Recently, there have been numerous cases when traders or ordinary users were exposed to scam cases, and that is why the safety of my investments was in the first place for me. After analyzing the crypto exchange Tokenexus, I realized that the level of security that is provided here is completely satisfactory for me, and I can conduct my trade without worrying that my currency can be stolen. 
Today in the world there are a large number of different crypto exchanges. However, they are all different among themselves, including different commission fees for conducting trading operations. I was very pleased with the information that the percentage of the commission at this crypto exchange is one of the lowest among competitors. That is why when I weighed all the pros and cons, I decided to trade it on the Tokenexus crypto exchange.

I started trading cryptocurrency only last year. For me, crypto exchanges became the main platforms where I performed trading operations. However, among all the crypto exchanges that I use, I like Tokenexus the most. 
Of the advantages of this crypto exchange, I would like first of all to note the ease of use. Personally, it seems to me that the Tokenexus crypto exchange has one of the most convenient and intuitive interfaces. That is why the conduct of all trading operations does not cause any difficulties even for a novice like me.
It is also worth noting the rather good market rates of the main cryptocurrencies that are represented on this crypto exchange. The fact is that today even popular crypto exchanges that are used by many traders very often use a course that is beneficial only for them, forgetting about their users.
For me, it has become a real discovery that Tokenexus not only sets average market rates for cryptocurrency but also allows traders during trading to not worry about a sharp jump in the price, as is often the case in a cryptocurrency market.
It seems to me that today the number of such crypto exchanges is actually very few. Since most of the major players have focused their attention exclusively on the commission fees for trading operations while completely forgetting about the support of customer service. As for the commission fees, Tokenexus also exposes one of the lowest commissions on the cryptocurrency market for trading. That is why this crypto exchange is optimal for use by both beginners and more experienced traders.

I usually rarely leave feedback on companies or their services. However, here I would like to say about the crypto Tokenexus exchange became for me real salvation after some of my money was stolen from another very popular crypto exchange with an incredible capitalization. Personally, I managed to make sure that sometimes behind the big names of the crypto exchanges, in fact, nothing is found. Their security is not absolute, and that is why I decided to find a more professional crypto stock exchange and work directly with them. For me, Tokenexus has become such an exchange.

For me, the speed of trading operations has become the distinguishing feature of this crypto exchange. Plus, I usually see that there is a good average rate of cryptocurrency. If we take into account these factors, then the Tokenexus crypto exchange for me is optimal. At the moment, apart from this exchange, I trade several more. However, the speed of transactions and ease of trading on Tokenexus crypto exchange suits me the most. Perhaps in the future, all my trading operations I will trade exclusively here.

Sale of Bitcoins for US dollars

If you decide to sell part of your coins and get paper dollars for it, then we suggest you analyze the options of exchanges with the most optimal conditions. In this case, you should consider what type of salesperson you are:

  • Small or medium investor;
  • A cryptocurrency trader;
  • Institutional Investor.

CEX.IO

It is a digital money exchange platform located in London. It was founded in 2013, and currently, it is used by more than 1 million active traders and users.

On this website, you can sell Bitcoin and exchange it for so-called paper money in just a few clicks. This platform in the world of cryptocurrencies is trendy now, as its management makes the maximum amount of effort to increase the security of trading operations.

Moreover, all financial information about transactions between users remains strictly confidential. CEX has one of the highest levels of security that uses Level 2 PCI DSS technology. This, in turn, ensures that user data and trading information are secured at the highest level.

However, this platform also has its drawbacks, the main of which is a high level of commissions, so make sure that the level of commissions is acceptable to you before making a trade operation.

Coinbase

This exchange is not only one of the most popular but is also the largest crypto broker in the world of digital currency. At the moment, with the help of this exchange, residents of 32 countries can make Bitcoin trading.

The selling rate on this crypto exchange approximately corresponds to the average selling rate on the market. Also worth considering that Coinbase takes an average commission of 1.5%. For its part, the Coinbase crypto exchange makes every effort to ensure that transaction data, as well as the security of trading operations between customers, are as high as possible.

Kraken

Kraken is a prevalent stock exchange in the world of cryptocurrencies as it allows you to carry out transactions for the purchase and sale of Bitcoin. It was founded back in 2011, and as of 2019, this exchange holds the maximum number of trading operations in the Bitcoin/Euro currency pair. However, an additional advantage of the exchange is also the support of trading operations with almost all of the most popular world currencies, such as:

  • USD
  • CAD
  • JPY

Also, one of the main advantages is that it offers its customers one of the lowest commission rates on the cryptocurrency market.

As for the security of trading operations between users on this exchange, the company uses two-factor authentication using one of the most popular Google services 2FA.

However, it is necessary to take into account the small minus that occurs when using this exchange, namely the fact that a purchase or sale trading operation can take from 1 to 5 working days for the user. Therefore, if you decide to transfer funds from Bitcoin to cash and then deposit them into your bank account, then you should take into account the period of time required for such a transaction.

Gemini

Such an exchange is the best option for institutional investors. In other words, these are the largest investors in the cryptocurrency market, which have the most significant amounts of digital money.

This exchange was named after Winklevoss twin brothers who became famous for their successful investment in the crypto foreign exchange market at the dawn of its foundation. The exchange has limited trust status and is used primarily by institutional investors. However, individuals also have access and opportunities to use this exchange. With the help of Gemini, each of the registered users gets a unique opportunity to carry out both the purchase and sale of cryptocurrency with a 0% commission. In this case, the commission for trading is only 0.25% on each side that makes the transaction.

Bitcoin selling face to face

As far as you already know cryptocurrency sale operations, whether through a crypto exchange or another Internet service, requires some specific steps (like authentication) and sometimes requires longer processes of money transfers, these options are not suitable for everyone. That is why there are ways when users can sell and buy Bitcoins face to face. 

Further, we will consider one of the most popular services for the purchase and sale of Bitcoins that corresponds to face to face type of transaction.

LocalBitcoins

Such a service is a very effective solution for those who plan to exchange cryptocurrency, and in our case, specifically Bitcoin for cash. This website helps users place their requests for the sale or purchase of cryptocurrency for US dollars or for any other popular world currency.

The sale or purchase of Bitcoin is carried out by depositing, and a further transaction between two users. In addition, one of the most significant advantages of this service is that users can get each other’s contacts and directly contact for carrying out similar trade operations.

Paxful

This service is designed to help users who are planning to sell or buy a cryptocurrency, to communicate with each other and carry out a trade operation using more than 300 different payment methods. In this case, the commission of the service is only 1% of the amount of trade operation from each of the sellers. 

This service is an absolutely fair exchange and competes in the market of exchange of cryptocurrencies with the most popular trading websites.

As for the protocols and security measures that this service applies to its user during trading operations, it is worth mentioning such a security measure as two-factor authentication using SMS and servers with enhanced encryption.

Meetup

The unique service Meetup.com allows users to organize a meeting place for selling or buying Bitcoin directly and in secure locations.

Selling Bitcoins through PayPal

Using this method of exchanging Bitcoin for US dollars is definitely a complicated process, and we recommend using it for already more experienced users or traders.

Carrying out such an operation will require some knowledge from you, if you are doing it for the first time or you are a novice trader, we recommend using one of the above methods to avoid confusion.

Conclusion

In the modern world, many traders and cryptocurrency holders very often ask themselves how to sell this or that crypto coin for cash. And if we are talking about the most famous crypto coin like Bitcoin, then there is no problem. The fact is that there are a significant number of online sites that help to do this. All the difference for the seller will be in the period that will be necessary to receive the money and the method of exchange (online or in person).