Bitcoin raises much fuss and interest among traders both in Australia and abroad. Thus, it is not surprising that many of them search for guides on how to buy it. However, every crypto trader must also know about the safest and most convenient methods of selling it in order to avoid bloated commissions and scams.
Obviously, the most logical solution is to cash it out via an online exchange, especially if you have a profile on one of such platforms (however, even if you do not have one, it will take only a few minutes to register it). Another crucial note ― it is the safest option, so you do not risk losing all of your savings because of scammers. If you live in Australia, we recommend you perform such a transaction via Binance, Swyftx, Digital Surge, CoinSpot. These platforms are the best choice in terms of prices, fees, functionality, privacy protection, and financial safety.
Here are step-by-step guidelines on how to sell Bitcoin Australia so that you cope with this task at minimum time and effort expense:
- Pass registration on the exchange selected or enter your existing account. You will usually need to insert your mobile number or electronic address.
- Confirm your identity. As a rule, such sources demand providing a photo of your passport and certain personal data. Note that this procedure may take a couple of days.
- Transfer the coins to this new account. Make sure the network and address specified are correct.
- Exchange the crypto for Australian dollars. For that use the “Trade” tab (or a similar function).
- Withdraw the money to your card or bank account.
Also Read: How to Sell Bitcoin Canada Safely and at the Best Price
In addition, for the sake of information, we will describe other solutions accessible in Australia:
- ATMs. It may seem the easiest and quickest method, but you should take into consideration that, in this case, the fee will be the highest.
- P2P platforms. Most of such sources do not charge any commissions and allow dealing with a buyer directly. To perform a transaction, you should look through the listings available and find a request suiting your offer. The safest variant is to turn to a P2P platform managed by a licensed exchange.
- Face-to-face (or in-person) deals. Sure, if you want to sell your crypto to your acquaintance or friend offline, it is quite safe. But dealing with a stranger is extremely risky.
- ACH and wire transfers. These payment options are quite slow, expensive, and complicated, yet, they also enjoy a certain demand.
To summarize, if you are a BTC investor, you must know both how to buy and how to sell this crypto at the biggest profit and with the lowest risk. So, be sure to follow the advice from our experts.
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