How to Sell Cryptocurrency

If you’d like to sell some cryptocurrency you own – whether to stop losses or collect profits on an investment, the following options are available.

Bitfalls

You can sell us almost any kind of non-worthless cryptocurrency without having to convert it to BTC first (an expensive and slow process). If the currency you’re selling can be exchanged to something else on any market, we’ll buy it from you.

The price will vary depending on desired payout methods – we support cash (Euro or Croatian kuna), direct payments to bank accounts, or PayPal. If you’d like to get a quote, contact us.

Abra

This method only supports bitcoin. More information at the bottom of this page.

Abra is a mobile app for buying and selling bitcoin. Abra tellers are people and companies authorized to both buy and sell. When you want to sell bitcoin via Abra, open the app, select Withdraw, and then Withdraw Cash or Transfer to Bank.

The former option looks for the nearest Teller and makes a connection – it might take a day or two until you get an email connecting you to a person. Because of this delay, it’s best to only use this option when trading large amounts – anything small and it probably won’t be worth it any more compared to other available options.

The latter option makes Abra find the best possible exchange rate, including commission, sells the BTC you have in your Abra wallet, and sends the amount to your bank account. Please note that transfers to bank accounts are always risky because of possible account lockdowns by the supervising tax authority or the bank itself. The bank method also makes Abra take the biggest commission, so we recommend using cash whenever possible.

Bitfalls is an Abra Teller.

Localbitcoins

This method only supports bitcoin. More information at the bottom of this page.

Localbitcoins is similar to Abra, but without the app. All arrangements are made through the website, and then a live meet happens. Follow the instructions on the website to sell your bitcoin.

Bitstamp

Although Bitstamp allows trading in different currencies, you need bitcoin for withdrawals. More info on getting bitcoin from another token is at the end of this page.

Bitstamp is an exchange and trading platform in good standing. They support payouts via direct bank account deposits (risky – see above under Abra), in gold (more identity checks will be required), or via a debit card they send out. The debit card option is very practical because it works on local ATMs for cash withdrawal, but the commission can be very high when withdrawing and paying in stores with it.

Litebit

Litebit supports direct sales and bank account deposits of more than just bitcoin (this is also reflected in the price – conversion fees are part of the price on offer). You will, however, need a Euro bank account otherwise you’ll pay high conversion fees when the bank converts the incoming Euro to your bank account’s currency.

The same warnings about direct deposits to bank accounts apply as above.

Changing to bitcoin

If you picked a method which only supports bitcoin but you want to sell something else, like OMG tokens, you can easily exchange the token to bitcoin with the following methods:

Simplest:

Exchanges:

Buy/sell platforms:

Trading platforms (most complex option – direct interaction with order books is required, very similar to stock brokering):

We’ll add more options to this list as we discover and vet them.

Safety

Please keep in mind that you’re exposing yourself to a certain level of risk when doing “unofficial” sales (meeting individuals) – people are unpredictable. We therefore recommend either meeting only public entities like companies (like us at Bitfalls), or selling via an online method. If you do decide to meet individuals live (maybe they’re offering a price too good to resist), pick a public and crowded place.