What Are Most Reliable Ways To Sell Bitcoin?

[mk4]

It might be hacked account of some past reputable user or some past reputable user sold it and now new owner might be dishonest.

Possibly, but what are the chances that every single one of OP's friends had the same experience? I'm still leaning towards them transacting with non-reputable LBC users.

[kryptqnick]

It would help to tell us what local currency and what country you are in first, then people might be able to make good suggestions.

Personally though, as I always say to threads like this, LocalBitcoins[1]. Just make sure you're buying or selling to decently reputable people. Also, my second option is Abra[2]. Though I can't choose my own prices or set up buy/sell offers, it's still pretty much seamless on my side.

[1] https://localbitcoins.com/
[2] https://abra.com/

My currency is Euro and I am in Latvia. Yeah well, couple of my friends has a bad experience with LocalBitcoins so...

I am not sure how this will work for you, since I am from a different country with a different fiat currency, but I usually use this website when it comes to fiat/crypto exchanges: https://www.bestchange.com/bitcoin-to-euro-cash-in-riga.html. This is what it offers for people from Latvia, and perhaps it's not what you are looking for, but I always use the exchanges this website offers, and I have never been scammed there. I notice now though that these exchanges are only for big money transfers. You can still try to explore the website, and maybe you'll find what you need there.
Another option you can try is choose the trading pair with EUR and use one of the listed exchanges: https://coinmarketcap.com/currencies/bitcoin/#markets. The exchanges are reliable, but you have to look into fee structure. They might also require kyc if that's a problem.

[minersday]

You can trade your Bitcoin for fiat money on this forum using escrow but since you don't want to pay for extra charges and fees, you can try exchange  platforms like coinbase if only they are available to use  in your country. Its the safest way to exchange your Bitcoin for fiats with less fee charges.  But I'm kinda surprised that your friends had bad experiences making transactions on localbitcoin.

[kingpin4321]

If you are in a location where bitcoin or cryptocurrency is legal to deal in I would still advice you to use an exchange although you claim to have had some challenges with an exchange that could be probably as a result of not using a top exchange. I use luno for all my bitcoin transcation and the fee are quite minimal with no loss of bitcoin.
Although you can sell your bitcoin offline I don't advice that but if you must employ the services of an escrow

[Cacingkemi]

It might be hacked account of some past reputable user or some past reputable user sold it and now new owner might be dishonest.

Possibly, but what are the chances that every single one of OP's friends had the same experience? I'm still leaning towards them transacting with non-reputable LBC users.

I better choose another exchange if to use LocalBitcoins for transactions, the high price when buying and when selling demand is very low. Its not clear that exchange works and I'm not interested in lingering there, moreover seeing a bad reputation regarding exchange.

[pakhitheboss]

If you can HODL, then please do.

If you still want to sell your Bitcoins then first option will LocalBitcoins - https://localbitcoins.com/

Always check the profile of the buyer/seller on LocalBitcoins to check their Trust score. You may only incur bank charges for transferring fiat. Since, everyone registered with LocalBitcoins have to verify the mobile number. You can contact them to see whether they can buy Bitcoins over the counter, if the buyer is local. Then you can do the transaction in cash without incurring any bank charges.

[Paybis]

The best way is to Use Bitcoin - Coinmap.org, check things around you and you would most probably be surprised that more and more places start to accept Bitcoin as payment Get a Pica for example 

[joeperry]

The thing there is the good exchange sites, you can use google to search for the top cryptocurrency exchange or you can go this and check the rankings of the exchange: https://coinmarketcap.com/rankings/exchanges/ If you're selling bitcoin you can also look at the volume of that coin to the exchange.

After choosing your top 3 exchange don't create an account yet instead do a research about their rules and regulations, minimum withdrawal and exchange fees. You can also read some reviews about the exchanges you choose and from that you can now choose a good exchange. Don't choose an exchange with lower fees but sacrificing the safety of your funds choose an exchange that has a fee but can secure your account and funds... However i think the fees are not that high and I think it depends on how big are you going to withdraw

This is all according to my own experience of using cryptocurrency exchange sites.

[chaoscoinz]

Hey guys!

Some of you may think that my question will be dumb and that Google can help me but Google does not have everything - it does not have personal experience.

My question is - how can I sell my BTC without paying high fees to someone? I made a big mistake and lost my BTC using an exchange that's not reliable. In the end, it turned out they don't even have a customer support team.

I need a personal experience of how you have done it or maybe a place or an article where you can learn these things.

Because of the price increase, I want to sell some of my Bitcoins but I want also to make sure the transaction goes through.

It really depends on what country you're located in. The laws and regulations regarding cryptocurrencies vary from country to country. If you are within the U.S, Coinbase is a staple within the American diet of exchanges. It"s pretty simple to set up an account. but does require some personal information. A somewhat regulated exchange is the go to option. I'm not too sure about Local Bitcoins, because I don't know the exact laws governing money transmission services. There are regulations in place within the U.S that require money business transferring licence, some states require it as well as federal registering.
  There are policy's for AML/KYC that must be met in order to do so, etc. Like I said, I'm not sure, but I think you should consult with you're local financial attorney/ advisory/ professional if you're not sure, at least before making any hasty moves.

Just my two cents!

[teejayrichard2]

for over a year now, I have been using the luno app to sell my bitcoin and get fiat credited into my bank account directly. It has been really reliable with flexible transaction fees. You can get the app from play store.

[pixie85]

A bitcoin atm is always an easy way to sell btc.
There appears to be one in Riga

https://coinatmradar.com/bitcoin_teller/6254/bitcoin-teller-bitcoin-teller-riga-crypto-embassy-cryptocash/

It’s worth checking it out, but always check the fees first .

ATMs are reliable but expensive. Their fees are very high so I would only choose an ATM if I really needed money and was abroad or somewhere where I can't safely log in to an exchange or my bank account.

The best is always localbitcoins or setting up a face to face trade through social media. If there's a bitcoin embassy nearby you can also exchange there.

[oriontab]

Your best bet are still exchanges- one with good reputation. It also depends on your country of residence, withdrawal can be made in your local currencies in most countries without a ban or restriction of cryptos.You may want to check Localbitcoin.com if they are operational in your locality.

[thankyoulord]

In my country Nigeria, there are lots of people who do buying and selling of bitcoin for a living. It makes it easy for me to sell my bitcoin and get cash with ease and the good part is I get to negiotiate what price i want at any given time. This how i have been selling bitcoin for long.

[muratsink]

everyone has different ways to sell their BTC. but I'm sure selling BTC on exchange is a method that is often used by other people. people are always looking for professional exchange, for them it doesn't matter the expensive transaction costs. because today, costs are not a problem. but people prioritize security more than transaction costs.and they can use lightning networks.

[JNvak]

You should use a cryptocurrency exchange platform. My pick is CoinDeal, since it has low fees and now they are even lower if you use an address beginning with bc1... (native segwit, bech32).

You can check it here: https://coindeal.com/news/lower-fees-btc

[Samuel4]

Selling of Bitcoin for Fiat depends on a number of factors like location, quantity and price. Before now I used to sell it through WhatsApp escrow group until i was scammed. That's when I was introduced to escrow exchanges.  Since then, I sell my Bitcoin conveniently through exchange running escrow services like Luno, remitanno etc

[proTECH77]

It would help to tell us what local currency and what country you are in first, then people might be able to make good suggestions.

Personally though, as I always say to threads like this, LocalBitcoins[1]. Just make sure you're buying or selling to decently reputable people. Also, my second option is Abra[2]. Though I can't choose my own prices or set up buy/sell offers, it's still pretty much seamless on my side.

[1] https://localbitcoins.com/
[2] https://abra.com/

My currency is Euro and I am in Latvia. Yeah well, couple of my friends has a bad experience with LocalBitcoins so...

There's nothing wrong with Localbitcoin becasue there you get reliable and most reputable buyers without panic and if have any issue, contact the customer care immediately. Personally, i have been using the said Localbitcoin without any issue from them, and will like to recommend it for you. Before you sell, ensure to check on the buyers profile to confirm his/her reputation before engage in business.

[jademaxsuy]

Using exchange are the best way to sell bitcoin and you can do a research on what exchanges are good when it comes to exchange with lesser fees.

However, there are other good ways on selling bitcoin and I have been trying to do that since i have coins.ph app to which it can buy out load, ecoins for esports games like dota2, crossfire, ros and etc. I have compared the fees using the fiat money and the btc and found out that BTC us better.

[franciscoDC]

Base on my experience the fee in any transaction have expenses,so now it was only depend on the person who uses it ,if he/she want more fast transaction it cost high fee but if she/he want normal transaction it cost normal fee.

[proTECH77]

Base on my experience the fee in any transaction have expenses,so now it was only depend on the person who uses it ,if he/she want more fast transaction it cost high fee but if she/he want normal transaction it cost normal fee.

Agree to your point but basically, OP said the most efficient and reliable ways to sell Bitcoin. From this point of view, there are thousands of ways an individual can sell his/her Bitcoin to buyers but there are more efficient and reliable ways or means to go about that; Coinbase, paxful are some of the ways to sell but will advice to use Localbitcoin which to me is the most reliable ways to sell Bitcoin, also, because of their reputation in the industry.