How to sell Bitcoin for cash in India?

Undoubtedly, purchasing or selling Bitcoin is lucrative. However, you have to be very cautious while doing so, as there are numerous online fraudsters or cybercriminals out there ready to exploit you.

So, if you're planning to sell Bitcoins but are not aware of how to do it, this is the post for you. This blog will address common problems and guide you in making the most of your bitcoin investments.

Let's get started...

Selling Bitcoin in India

The options for selling bitcoin are endless, especially now that it has hit a new high. If you're new to this, then know that buying bitcoin is easier than selling it.

The moment people know this, they're surrounded by numerous questions such as how to sell bitcoin in India, how to sell bitcoin online, how to sell bitcoin for cash, and so on.

If you also have the same questions, continue reading the post.

Ways to Sell Bitcoin in India

There are numerous ways to sell bitcoin, which are as follows:

Exchanges

Exchanges are the most popular and the best way to sell bitcoin, but they have limitations. Usually, these exchanges serve as a middleman, holding the funds of both parties and accepting buy and sell orders. Of course, they keep your capital safe until a customer satisfies your needs.

To sell bitcoin through an exchange, you must first create an account with a trusted exchange. You'll need to submit identification documents like bank statements or electricity bills while creating your account. Your money will be sent to your bank account when you withdraw it.

After creating the account, you have to put in your selling offer. This would include facts like the quantity and price per unit. It is now up to the Exchange to find you a suitable buyer and notify you.

Direct Trade

Another wonderful way to sell bitcoin is trade. Trading is different from selling bitcoins through exchange agencies. All you need to do is to register as a vendor on a trusted platform and submit your offer.

You'll have to provide identification while you register your account for trading, after which you can post your offer. The agency will notify you if a buyer shows interest in your funds.

After that, the buyer contacts you directly, and the exchange agency's function is complete save for releasing the bitcoin funds once the seller confirms receipt.

It is crucial to find a reliable website to trade. Many websites lack trustworthiness, while others have cumbersome direct trade processes.

Selling in Person

Selling bitcoin in person is considered the best way; you don't need to pay any fee for that. Also, it is the easiest and fastest way to sell bitcoin.

Once you have your bitcoin in your wallet, all you need to do is scan the QR code on the phone of the person you want to sell it to and send it to them. That's it!

Here is the procedure:

  • Open an account on a reliable platform, such as Cross Tower
  • After you've opened your account, you're eligible to put in your selling offer
  • The next step is to negotiate the price of your bitcoin funds with the other party
  • If everything goes well, it's time to sell your bitcoins

Pro Tip: Ensure these transactions are in a public setting to assure their security and adhere to the local cash transaction restrictions!

Drawing Money

Lastly, if you have a large amount of bitcoin and wish to cash them out, you'll need to approach an OTC desk. An OTC desk will fulfill your order in stages and deliver money to your bank account. The procedure is rather frantic and requires much patience.

Wrapping it up...

You can sell Bitcoin in India in any of these ways. Consider the cons of each of these options before deciding.

It is important to be aware that it is possible to sell bitcoins in person or to use a bitcoin ATM in India to obtain cash (if you have one in your area). Make sure you're aware of any limits imposed by the government on this before you try it.

Of course, to buy or sell bitcoin, you'll need a reliable platform such as Cross Tower. Cross Tower is a one-of-a-kind platform where you can buy, sell, store, and trade bitcoin and other cryptocurrencies. It can help you maximize your bitcoin gains.

CrossTower is on a mission to mainstream crypto investing and trading in India.

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