Get Rich Quick: Sell and Trade Bitcoins
Bitcoins have become popular over the years, and some even made someone rich overnight because of it. If you wish to get rich in Bitcoins, here are ways you can sell or trade it:
For this selling structure, some websites offer this service, some of which include Coinbase (US), LocalBitcoins (US), BitBargain (UK), and Bittylicious (UK). If you go to these sites, make sure to register as a seller who would involve verification of your identity. After registering, you can post your offer and signal other users that you are selling. Once a buyer expresses interest, then the website will alert you about the trade. From that point forward, you will interact with the buyer and then complete the business from the site.
If you want another way to sell your Bitcoins, then you can do it by registering on an online exchange site. Profile verification is compulsory even after this. But, after that, you won’t have to do so much work in terms of organizing the sale.
The exchange acts as an intermediary that is holding everyone’s funds. This process will include placing a “sell order,” stating the volume and type of currency you wish to sell, and the price per unit that you want to sell. Once someone places a matching buy order, the transaction will go forward after the exchange happens.
Despite how it is easy to use, there are still some downsides to it. If you sell your Bitcoins for fiat currencies, then surely you will be withdrawing those funds to your account. Once some liquidity problems or issues with the banks arise, then it will take some time before you can receive the fund.
Peer-to-Peer Trading Marketplaces
In the Bitcoin industry, the advent of sites such as Purse will bring together two groups of people that have particular and complementary needs. The first group of individuals will be the ones who want to buy goods from sites that do not accept digital currencies as of the moment. The second one will be those who wish to purchase Bitcoins using their debit or credit card. This marketplace targets bringing a group of individuals that have matching requirements to sell Bitcoins to one and provide the discounted goods for the other.
How to safely trade with Bitcoins on eBay
Another way to earn money from Bitcoins is by buying them. For those who have been around eBay and PayPal for a while, you should know that they don’t cover digital products very well. The reason for that is scammers love to use those methods to steal from you. If that is the case, then you surely won’t risk your Bitcoins with it.
Since you are receiving Bitcoins electronically, then selling them on eBay can be a problem because there is no physical aspect involved. Also, make sure to include something that is tangible and notes that if it has tracking, then it is not virtually possible to get a chargeback.
If you are a new Bitcoin seller on eBay then you should know these key factors:
- You can sell Bitcoins only to verified PayPal accounts.
- Make sure that you verify the emails of the buyer both on PayPal and eBay. You also have to ensure that they match with each other.
- Once you have received the payment, ask the buyer to provide his Bitcoin wallet address using private messaging on eBay or through email.
- Mention in your offer something that can be reassuring for the buyer. Something that, as a seller, you have the right to cancel the transaction at any time, but if that happens, you are willing to issue a full refund. If the buyer feels suspicious about this, then don’t close the deal yet. You will eventually find another safe buyer in the process.
- You should also mention in your offer that the buyer should be responsible for providing the Bitcoin Wallet address for the delivery and that no refund will take place if the address provided is wrong. Just remember that Bitcoin transfer is irreversible.
- Check out any reviews about the buyer. If it has 100% positive reviews, then that one is certainly recommended. Don’t also forget to check the dates of the reviews to make sure that they are up-to-date.
- As suggested by Paypal, you can upload a photocopy of your ID to verify the account.
Bitcoin has no doubt become famous since its launch in 2009. And although many have claimed to gotten rich with Bitcoin, make sure that you understand how it works for your investment not to go to waste.
More in Big Bank Accounts
Four Compelling Reasons Why Israel Is Going to Be the Next Big Start-Up Hub in 2020
Israel is home to almost 5000 active start-ups, with around 600 new additions every year. Numbers suggest that the country boasts...December 31, 2019
What You Need To Watch Out For When Availing a Mortgage
A dream home at the top of the hills? Realistic yet pricey. Having your own home is a completion of one’s...December 27, 2019
If You Don’t Have A Strategy, Your Business Isn’t Going Anywhere! Here’s How You Can Change It!
In the world of business, strategy plays an important role. It is essential for a good business to invest in its...December 26, 2019
Check Out How Celebs Celebrate Their Big Day!
Have you ever wondered what kind of birthday party you would throw for yourself and your friends and family if you...December 25, 2019
Ditch Netflix Maybe? Best Movie Theaters in the US You Ought to Check Out At Least Once!
The feeling of watching a movie in the theaters with your loved ones is simply unmatched. That full-on experience is something...December 24, 2019
Newly Retired? Here’s What You Can Start Doing To Develop A Lifestyle of Good Habits
Lucky you. You’ve freed yourself from the rat race and you’re finally in those golden years of retirement – the blissful...December 23, 2019
Loan Scams Can Be the Death of You Financially – Here’s What You Need to Know
Back in 2017, there was a 10% drop in loan scam complaints as well as fraud. The Federal Trade Commission reported...December 20, 2019
Take Advantage of WhatsApp Business to Grow Your Enterprise
Getting the Most Out of WhatsApp Business WhatsApp is perhaps one of the most popular apps of all, with millions of...December 19, 2019
It’s Almost 2020! Should You Still Stash Your Cash In Safe Deposit Boxes?
With the advancement of technology, safe deposit boxes have become nothing but an antique object belonging to the analog age since...December 18, 2019