The art of buying and selling BTC is not as easy as it may look on paper. It may take months or even years of studying the crypto market trends before you become comfortable in the crypto exchange. Knowing when to buy and when to sell bitcoin can help you earn massive profits from your trade.
If you’re looking to master the art of buying and selling bitcoin, then you’re in the right place. This guide will cover everything about the crypto exchange. We will also share factors to consider before selling your bitcoin.
How to Sell Bitcoin (Crypto)?
There are various methods you can use to sell your bitcoin. The two main platforms are exchange accounts and peer-to-peer websites. Both platforms have their pros and cons but work in an almost similar way.
Exchange accounts are much easier to use if you’re a newbie to crypto trading. The exchange platform will provide you with real-time market prices of crypto coins. They also offer competitive market prices, so you may not end up selling your bitcoin at a loss.
P2P platforms mainly involve working with crypto merchants. Most merchants look to buy bitcoin at lower prices to sell it at a higher fee. The market there isn’t regulated, so you can land on some profitable deals on a good day.
When to Sell Your Bitcoin
If you’re new to bitcoin trading, it is always a wise idea to stay put and avoid selling your bitcoin during a dip. As you know, crypto prices are very volatile and can rise or fall at any time. If you’re looking to sell bitcoin at a high price, never sell during a dip.
On the other hand, if you’re looking to buy, always purchase the dip. Most people often fear raking in losses when the prices start falling. This is always the best time to buy and hold. You can then wait until the rates start moving up and sell your stash for a profit.
If you’re new to trading you can sign up with NakitCoins. NakitCoins helps to sell btc, and they offer competitive rates alongside quality crypto services. Besides, you get free wallet services where you can store your crypto safely as you wait for the prices to go up.
When to Sell Bitcoin
As mentioned before, the best time to sell bitcoin is when the prices are on an upward trajectory. Always ensure that when you sell coins, you’re going to earn some profit. The main idea is to earn profits when selling or buying bitcoin.
You can even opt to swap coins. If you spot an altcoin that is performing well such as ethereum, you can swap your bitcoin for ethereum. This will ensure that you don’t lose your crypto investment. When looking for coins to swap, avoid investing in meme coins.
Most crypto newbies often ask how do I know when to sell my bitcoin on crypto forums. The best answer to this is, don’t sell for the sake of selling, holding is a test of patience, but it has its rewards.