Bitcoin and other types of coins can be purchased and sold in various ways. Currently, the most popular options in this regard are trading platforms and exchange services. More exotic ways include exchanging for artifacts from popular games – for example, Dota 2 or CS:GO. However, many users make mistakes already at the stage of buying bitcoin, which leads to the loss of their money. Today we will talk about how you can make a deal with cryptocurrency, sell bitcoin for cash and other details of operations with digital currency.
This method is considered the easiest, but the user will have to pay a fee, the amount of which depends on the particular service. If the coin is not particularly in demand, the percentage that will have to be deducted for the services of the exchange will be higher.
There are also a number of risks associated with using exchanges. In particular, these risks involve the issue of privacy. The user is required to specify the address to which the exchange should be received. This may be a wallet that has already been created on the exchange, or a cold wallet, or other options. When filling out the information, it is extremely important not to make a mistake and write the requisites correctly. Otherwise, it will be impossible to return the coins. However, if this does happen, you should contact the technical support of the exchange as soon as possible.
Exchanges can be used for both buying and selling cryptocurrency. However, it is also possible to buy bitcoin directly on the platform. Trading platform is considered to be more reliable way because the risk of becoming a victim of fraud in this case is reduced. However, you will have to pay a fee too, but less than in any exchange services.
One of the main problems with cryptocurrency transactions on trading platform is the frequent lack of funds on it. When it comes to off-exchange transactions, however, you can often expect to get any amount. A much earlier method of buying and selling cryptocurrency from a chronological point of view is over-the-counter trading. Now, a much more reliable, safe and fast way is to make a transaction on a service specifically created for this purpose. One of the most reliable OTC platforms can be found here.
It is worth noting that in the case of a centralized market, the value may increase after each transaction is made. This is especially true for large transactions in digital assets. The main advantage of using OTCs is that in most cases there is once and for all a fixed rate. It is possible to buy bitcoin for cash on such platforms, as the transaction is done in a secure and confidential way.
Another advantage that cannot be left out is the ability to make transactions in different directions. The market may not always have the necessary pairs. However, if we are talking about an OTC transaction, here the user can negotiate the purchase or sale of even the rarest coins.