How can I convert bitcoins into real money?

If you’ve taken the leap and bought some Bitcoin, it’s equally important that you know how (and when) to cash out and sell.

In this guide, we’ll walk you through the different ways you can sell Bitcoin in Singapore, as well as the ins and outs of converting your BTC to Singapore dollars or another cryptocurrency.

Visit here to convert bitcoin to visa

QUICK GUIDE: HOW TO SELL BITCOIN IN SINGAPORE

1. Log into your account on an exchange like Exchanger24.
2. Click on the “Wallets” tab.
3. If you already have Bitcoin on the platform, you may proceed to sell it directly. If not, you will need to deposit the Bitcoin from your private wallet to your Coinhako wallet.
4. Scroll downwards to the “Buy/Sell” segment.
5. Click on “Sell” on the BTC/SGD pair
6. Enter the amount of BTC you want to sell.
7. Select the currency you want to exchange for BTC.
8. Review transaction details.
9. Click “Sell”.
10. Once the transaction has been processed, withdraw the SGD to your bank account.

How to sell a large amount of Bitcoin

If you’re looking to sell a large amount of Bitcoin, such as $50,000 or more, conducting the transaction through an ordinary crypto exchange may not be the best way to go about it, because there may not be sufficient liquidity on a traditional exchange. This can result in slower processing times or “slippage” – which is when a large market sell order eats through the available buy orders, resulting in a price drop.

The transaction limits on these exchanges may also be too low for your needs, so anyone looking to sell a large amount of Bitcoin should consider an over-the-counter (OTC) trade. OTC trades are those that take place away from a conventional, regulated exchange, and they offer a simpler and more cost-effective way to buy and sell large amounts of Bitcoin.

How to choose the best way to sell Bitcoin

There’s no such thing as the best way to sell Bitcoin for everyone because what works well for one person might not necessarily be a good fit for the next. Instead, it’s all about working out which option is the right choice for you. You can do this by asking yourself a few important questions:

• Do you want to sell Bitcoin for SGD or another cryptocurrency?
• How quickly do you want to sell your Bitcoin?
• Are you willing to accept a price well below the market rate, or do you want to negotiate the best price possible?
• If selling for SGD, how do you want to receive payment?

This should help you decide how you want to sell your Bitcoin, and you can then figure out which platform has all the features you need. When comparing your options, make sure you consider:

• Price. How does the exchange rate you’ll get compared to those offered by other platforms?
• Fees. Compare any trading fees that apply and whether there’s a fee for withdrawing funds into your bank account or crypto wallet.
• Trading and withdrawal limits. Is there any limit on the amount of Bitcoin you can sell, or on how much SGD you can withdraw from your account?
• Security features. Are there any security measures in place to help protect your funds and your private data, for example, 2-factor authentication or a reputation system for buyers and sellers?
• Customer support. If something goes wrong with your transaction, how will you be able to contact customer support? During what hours support available?
• Reputation and reviews. Seek out online reviews and check crypto forum posts from other users to find out whether they’d recommend a particular exchange, trading platform, or Bitcoin ATM provider.