Bitcoin Forum

I bought my BTC in 2014 & have held through everything since, but now I'm nervous & would like to sell at least enough to cover my original investment. However, I have no idea which exchange to use & would welcome any advice as to which would be considered the safest & most reliable. PS: I am in the UK.

You're almost too late but I'm guessing the price when you bought your BTC was less than a thousand and so you still have profited. But it doesn't matter if you really want to sell these are the list of exchange which some of their details are also presented to you https://coinmarketcap.com/rankings/exchanges/

Number 1 must be the safest, I assume. I wonder where you bought your BTC because most of the time, people just buy it on exchanges which means you probably have already.

Thanks for your reply. No, actually I didn't buy through an exchange; I bought through www.quickbitcoin.co.uk.

I would suggest you to use coinbase (https://www.coinbase.com (https://www.coinbase.com)). It is one of the oldest and biggest exchanges in market. They're  allowance is up to 100000 euros per month and you can withdraw money directly to your bank account.

Wait for Bitcoin to experience a price increase, I advise you to exchange safely, among others:

- Binance
- HitBTC
- Bitmex
- Coinbase

Congratulations on making it this far, sorry you missed the past top, but you are more than okay or in danger of ever getting down towards that level.. Id be surprised if even 5k gets tested... regardless coinbase should be safe.. I've used them for payouts and have never had any problems.. there may be something locally in UK thats cheaper but it'll likely come with some risk.   Atleast keep a small stack to go long with to 100k :)

2014? It's very long time and you missed the chance to sell it when the price of bitcoin are in $20000 but you still have an profits if you sell it. If I were you I will not sell it, but all of us are having our own decision it is up to you if you want to back your capital. There's a lot of exchange site that good to use and it is hard to say on which is the most safest, here's the some of exchange Binance and coinbase but before using that you should analyze it first.

If you want to sell your bitcoins for fiat then you no need to go to exchanges.

1.just go to LocalBitcoins.com (https://localbitcoins.net) and signup with required details.
2.Then click wallet option and receive tab where you can get address to send your bitcoins.
3.Just send your bitcoin from your wallet to that address.
4.Finally click sell bitcoin and search for your country and pick desired payment method.
5.And select the trader who is paying good rate and then send trade request with necessary details to pay you.
6.And release the bitcoins when after you received money from the trader.

Good job on hodling!

Stay away from those who are giving links of exchange sites, do it by yourself
(for example, binance and poloniex exchange) search it on google, be careful
of the phising sites, recheck the website or the url bar.

There is one project. With very strong defence. You can trade on binance and poloneix from it using API. Trade there for 3 month) And yes, binance is the safiest exchange =) investy .io

There are many good exchanges available for exchanging the Bitcoins or selling your holdings in the most secure and reliable way. There is a number of exchanges like Binance, Bittrex, Zebpay, Stocks. Exchange, I have used all these exchanges personally and i found that they are really good to trust and use for trading purposes.

Binance, Gemini , Kraken, Coinbase are the big exchanges that you can trust.  Be very careful with leaving your funds on small exchanges because they can be hacked or exit scam at anytime. 

Exactly. I usually look at the trading volumes in coinmarketcap (https://coinmarketcap.com/exchanges/volume/24-hour/). For me its  good indication that the top 5 exchanges are top notch because traders used them.


Perhaps you can read this article and see how it goes for you: (https://www.bestbitcoinexchange.io/exchanges/uk/). But based on my experience, Binance will be a good choice.

Since its your BTC and you are still on profits yet you do bought BTC back in 2014 then its your decision to secure your initial investment which is really a wise thing and talking about exchangers then there are lots of reputable as of now like Binance. As long you just cash out wont pass through threshold or limits then you wont really face any KYC procedures and most all exchangers would require kyc if its already involved with big amounts of btc.

Thanks for all your replies....much appreciated. If I were to sell with Binance or Coinbase today (I won't be because I presume it will take some time to verify my ID with them), how soon could I expect the funds to be in my bank account? Also how long does it take on average for a customer's ID to be verified? Thanks again.

CarlFebz2, just read your comment  - somehow missed it first time I read the thread. Are you suggesting that some exchanges won't make me go through the KYC procedure if the amount involved is below a certain level?

Binance doesn't require KYC under volumes of under 2BTC/day or something similar IIRC, but I've also heard of people randomly being requested to do KYC on the site even though they were never near whatever threshold was set for KYC. I've never had an issue with them, but make sure you enable all methods of security, like 2FA, when making your account.

I'm not sure about other exchanges nowadays as I primarily use just Binance and Decentralized Exchanges (DEXes) for trading nowadays, but most major exchanges require KYC upfront before you can even start depositing funds or trading IIRC.

For me, Bit-z is the most safest or most reliable Bitcoin exchange based on my experienced. Well, I haven't used some of Bitcoin exchanges yet but Bit-z has the kind of serviceable exchanger which is fast on transactions and very easy to use. It has a google authenticator and 2FA authentication too for safe purpose so that your coins will never be stolen. It has a setting where you can decide what you want to implement on your account's security access, either google authenticator or 2FA authentication and can be both too.

You can proceed with KYC anytime.

About what carlfebz stated, some exchanges have withdrawal llimits based on your account level. For example, a basic account in Binance has BTC2/day limit, Poloniex have also the same*. And doing KYC will gave you an access for higher limits.

Anyways if Im in your position and want to sell some (no usual trade involved), I will sold it at local exchange. It's way more less hassle to you as surely it supports all payment gateway in your country for fast cashout. But if there's none available in your country then you have no choice but to deal with trading exchanges. I will not mentioned any trading platform here because we might have different experienced using them. Instead, look at those exchanges mentioned here by others and do self research about those especially the terms about withdrawal e.g fees and limits and people's feedback about using that exchange.

Based on my experience both Okex and Binance are safest to use they don't ask for KYC and ID verification.

The good thing in Binance the trading fee has 50% discount if you use BNB token. 50% fee discount is a huge help for starters or beginners.
Check this link Binance Tiered Trading Fee (https://support.binance.com/hc/en-us/articles/360007480472-Binance-Launches-New-Tiered-Trading-Fee-Discount-Program-and-Adjusts-BNB-Discount-Rate)

Okex exchange also has a discount, but you can only get the higher discount if you reach a higher level.

I was planning to use bit-z before, but there are some threads and reviews that you cannot withdraw your tokens and coins from here https://bitcointalk.org/index.php?topic=2425950.0.
And I read a lot of reviews here https://www.forexbrokerz.com/brokers/bit-z-review so I thought to stop planning to use it.

I asked this question regarding safe/reliable exchanges once before when I came close to selling some of my BTC. Back then Gemini was recommended to me by several people but I see now it is far down the list of top exchanges. Anyone have any experience of using it recently?

As regards Binance I had to google BNB token as I know nothing about that. I just want an exchange where I can sell & then transfer the cash to my bank account.

There are many exchangers right now which are best in the market for providing exactly right volume for you to sell your BTC. Its good that you are holding the BTC since 2014 and it is even interesting that you were holding it since 2014 and you did not sell them at ATH of 2017. I liked your attitude but I would say you should hold even further because we will soon see prices of bitcoin going above 20K USD for sure. If anyway you want to sell then I would say only Binance can help you for selling your huge pile of BTC bag.  ;)

Frowsiter....wish I had a huge pile of BTC...it's not that large unfortunately   :( ...though it is a lot larger than when I bought in 2014  :)

Most reliable exchange I will recommend is poloniex because of the high security of your coins. Funds on such exchange are mostly stored on a cold wallet which in case of a hack, not all your funds will be at risk.

I haven't yet used poloniex but I have haven't heard any bad things about it so  it may be worth  giving it a try? And the fact that it uses cold storage is really good.

My BTC are currently in cold storage. I presume I need to import them into a Blockchain wallet before I can transfer them to an exchange. Is Blockchain the best wallet to use for this purpose?

poloniex is a good place to store or make transactions on btc. I think this is a thing that needs to be tried so I think there must be the best exchange for btc. don't panic and worry

Coinbase stores 98% of their cryptos on cold storage in case there is an attack they will be fine. also your cryptos are safe as the exchange is FDIC approved. Only down side is that they record everything and eventually you will have to report your earnings to the IRS.

I recently started using Binance Exchange Platform, and so far so good.
also the fees are actually great, and no verification needed for small traders.

I think most reliable BTC exchange are-
- Binance
- bittrex
- OKEx
- HitBTC
- Bitmex
In my opinion these exchanger are very good, safe and easy to use.

Use the Kraken exchange. The support service there and safety are suitable (above average).

2014? I'm sure you are now a billionaire. wow, this surprised me a lot when I heard it, I think in Europe there are many exchanges that can be relied on, reliable exchanges, which have cheap fees, try to googling at CMC there are lots of recommended exchanges.

My friend, if you have hold bitcoins since 2014 and didn't sell it in December 2017 - early 2018, then I'm sad to hear that you want to sell it right now. I understand that you may be very frightened by the situation in the market, but this should not provoke you to sell all your bitcoins.
Calmly think about what is happening in the market. Do you really believe that bitcoin has come to an end? After all, on some wallets there are hundreds of thousands of bitcoins and their owners are not in a hurry to sell their bitcoins now.
If you now need money, then sell some of your bitcoins, and let the rest be with you, you will always have time to sell them.

There a lot of realable excahnge you can find at cmc and try nexybit platform the new trusted exchange
But in your case i advice to you just hold and wait the right to cut off your lose
Try to learn the follow movement of the market its going ti become better

Coinbase is outstanding amongst other names in the Bitcoin world setting itself on the best as a one-stop answer for Bitcoins. It is one of the most secure one as well. It's a wallet for putting away, spending, purchasing and tolerating Bitcoins, it goes about as a Bitcoin processor for some vendors and organizations, and is among the top.

There are a lot of good and reliable exchanges around, it depends on country of residence, if in US, you best option will be Coinbase,Robinhood as you can withdraw to fiats, other .Binance,coinex.com are other good exchanges

You should have sold your bitcoin during the peak last year, quiet too late but this will still depend on you. Sold some of it but make sure you are still holding good amount of bitcoin because you bought it at a cheaper price and the future price of bitcoin will be great. Try to use binance or maybe look for the wallet on your place where you can change bitcoin to fiat money directly.

Can you see the price bitcoin at 2014? Just $300 and now $6479 base on coinmarketcap, are you still sure the OP suffered a loss?

Nexbyt is a new exchange that can't be trusted yet, I more than trust to local exchange or binance and bittrex to sell bitcoin that OP has.

I will agree on his side and also for the list of exchanges.

You shouldn't worry that much on trusting a few reliable exchanges, they were all found in here and every traders suggested them except to some newbies.

You were so lucky to buy bitcoin at 2014 and being able to hold it up until now. :D

Until now, I do not try to enter at the top exchanges because I do not have yet enough money to invest in cryptocurrency. What I just doing today is to scalp my coins in cryptopia so that I gain a lot. Playing with my bounty tokens are good but risky and I am thinking that it could be the start of my journey in crypto. As of now, cryptopia is the best exchange for me.

 I think binance has been the most reliable exchange ever in the history of bitcoin. Those dudes had hack attacks at the levels of NSA can only dream of, those dudes got phishing attacks that was big enough to collapse a governments income, they had governmental blocks on all sides and they still managed to stay in front of all of that and created a bullet proof environment for all of us to trade.
I will always trust exchanges as much as they allow me to and binance allowed me to trust them magnificently so I will give them that trust. I would rather keep all of my money in binance than keep my money in the banks because they have not shown me they are trustworthy as much as binance did.