How to sell Bitcoin A simple guide to cashing out your Bitcoin for Australian dollars or another cryptocurrency. Tim Falk. Updated Feb 24, What changed? Fact checked. Navigate Cryptocurrency Getting Started What is cryptocurrency? Cryptocurrency exchanges Cryptocurrency wallets What is the blockchain? Bitcoin mining Cryptocurrency lending Cryptocurrency news. Get exclusive money-saving offers and guides Straight to your inbox. Sign me up! Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering.
It is not a recommendation to trade. Quick guide: How to sell Bitcoin in Australia Register for an account with a cryptocurrency exchange like Swyftx Verify your account Select the asset you want to sell from the Swyftx interface Select the deposit option to get your Swyftx wallet address for that asset Send your cryptocurrency to the provided wallet address Sell the cryptocurrency for AUD Go to Swyftx's website This is our quick guide to just one way to buy Bitcoin.
CoinSpot is an Australian exchange that lets you easily buy, sell and trade more than cryptos. Go to site View details. Swyftx Cryptocurrency Exchange. Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange. Digital Surge Cryptocurrency Exchange. An Australian based exchange with a focus on simplicity that allows users to purchase a range of cryptocurrencies with AUD. Binance Cryptocurrency Exchange Australia. Cointree Cryptocurrency Exchange.
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CoinJar Cryptocurrency Exchange. CoinJar offers a simple way to buy, sell, or trade cryptocurrency with AUD. Enjoy free and instant deposits, fees start from 0. Disclaimer: Volatile investment product. You should consider whether you can afford to take the high risk of losing your money. Copy the trades of leading cryptocurrency investors on this unique social investment platform.
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Easy Crypto Cryptocurrency Exchange. Bank transfer, Cryptocurrency, POLi. Easy Crypto is a simple way to buy and sell a range of cryptocurrencies, straight to and from your own crypto wallet. Coinmama Cryptocurrency Marketplace. Bank transfer, Credit card, Cryptocurrency, Debit card.
Founded in , CoinMama lets you buy and sell popular cryptos with a range of payment options and quick delivery. Independent Reserve Exchange. Trade AUD and other fiat currencies against a wide range of cryptos at competitive rates. Compare up to 4 providers Clear selection.
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What's in this guide? Where to sell Bitcoin in Australia A step-by-step guide to selling Bitcoin How to choose the best way to sell Bitcoin How to sell Bitcoin: what are my options? Withdrawing your funds after the sale When is the right time to sell Bitcoin? Step 1. Step 2. Deposit Bitcoin into your account. Step 3.
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Sell Bitcoin. Step 4. Withdraw AUD. Initiating a withdrawal from your CoinSpot account CoinSpot. Register on an exchange that lists BTC. Remember to enable 2-factor authentication on your account before proceeding any further. Deposit BTC into your account. Sell BTC. Transfer your new cryptocurrency into a secure wallet.
Selling to a cryptocurrency broker. Why might you choose this option? Pros: Convenient, quick and easy, allows you to exchange BTC for fiat Cons: Transaction fees can sometimes be steep or the rates poor, ID verification process can cause delays. Selling through a cryptocurrency exchange market. If you want to set your own price and enjoy greater control over the sale process Pros: Could help you get a better price, provides you with more flexibility and control over the sale process Cons: Slower than using a broker, options may be limited for certain fiat currencies, can take longer if you want to ensure a good price.
Selling via a Bitcoin ATM. If you want a quick and easy way to turn your Bitcoin into cold, hard cash. Pros: Quick and easy, a fast way to cash out your Bitcoin when you need fiat currency Cons: Bitcoin ATMs particularly those that let you sell BTC can be difficult to find, and have high transaction fees. Selling peer to peer. If you want to sell in person, anonymously or for cash, if you want to try to sell above market rates or if you can't find another suitable exchange Pros: You can choose a range of payment methods, you can sell anonymously, some buyers may be willing to pay above market rates Cons: Very risky if dealing with a stranger, more time-consuming than selling online.
PayPal Cash. How can I sell Bitcoin for cash? Alternatively, you could arrange to sell your Bitcoin through a peer-to-peer marketplace that accepts cash as a payment option, either meeting someone in person to accept payment or asking them to send a cash transfer through a payment service such as Western Union. How can I spend my cryptocurrency with a Bitcoin debit card? Alex Ellinghausen The hearing is not expected to take place until late March but will be closely watched by Australian bitcoin fanatics and other groups who have likewise been denied banking services.
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A spokeswoman for Westpac declined to comment citing customer confidentiality. James Frost writes about banking, funds management and superannuation. Based in Melbourne, James has been reporting on specialist business and finance topics for 15 years. Connect with James on Twitter. Email James at james. License article. Follow the topics, people and companies that matter to you. Find out more.
Follow us on Twitter Find us on Facebook. Simply buy , sell and spend your cryptocurrency easier than ever before. It's time to join the digital revolution. Simple and fuss-free. Cryptocurrency deposited to your wallet within seconds of purchase.