How to Sell Bitcoin on Blockchain?

Wondering how to sell Bitcoin on Blockchain? Here’s a step-by-step guide on how to do it.

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Introduction

If you’re wondering how to sell bitcoin on Blockchain, the process is actually quite simple. In this guide, we’ll walk you through the steps necessary to sell your BTC using the Blockchain wallet.

Before you can sell your bitcoin, you’ll need to have a valid Blockchain wallet account. You can sign up for an account by visiting the Blockchain website and entering your email address and a strong password.

Once you have an account, you’ll need to generate a Bitcoin address. This is done by selecting the “bitcoin addresses” tab from the main menu and then clicking “new address.” Enter a label for your address (this is for your own reference) and then click “generate address.”

You’ll be given a string of numbers and letters which is your unique Bitcoin address. Next, you’ll need to find a buyer for your BTC. There are a few different ways to do this, but the easiest is probably to use a Bitcoin exchange.

There are many different exchanges available, but we recommend Coinbase because it is one of the most popular and user-friendly options. Once you’ve signed up for an account on Coinbase (or another exchange), you’ll need to link your bank account so that you can buy and sell BTC.

Once your bank account is linked, you can choose how much BTC you want to sell and enter your payment information. Once everything is entered correctly, simply click “sell” and your BTC will be transferred to your linked bank account within a few days.

What is Blockchain?

A blockchain is a digital ledger of all cryptocurrency transactions. It is constantly growing as ‘completed’ blocks are added to it with a new set of recordings. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Bitcoin nodes use the block chain to differentiate legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.

Selling bitcoin on Blockchain is easy and simple but first, you need to know what is Blockchain? So let’s get started.

What is Bitcoin?

Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain

How to Sell Bitcoin on Blockchain?

Bitcoin is a cryptocurrency and a payment system, first proposed by an anonymous person or group of people under the name Satoshi Nakamoto in 2008. Bitcoin is unique in that there are a finite number of them: 21 million.Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

Setting up a Blockchain Wallet

The first step to selling bitcoin on Blockchain is to set up a bitcoin wallet. You can do this by going to Blockchain’s website and clicking on the “Get a Free Wallet” button. Once you have set up your wallet, you will need to generate a bitcoin address. This can be done by clicking on the ” Generate New Address” button. Once you have generated your bitcoin address, you will need to add it to your wallet. To do this, click on the “Add Address” button and enter your bitcoin address in the “Address” field.

The next step is to find a buyer for your bitcoins. There are many ways to do this, but the easiest way is to use an exchange such as Coinbase or Bitstamp. Once you have found a buyer, you will need to create a sell order. To do this, go to the “Sell” page on Coinbase or Bitstamp and enter the amount of bitcoins you want to sell and the price you want to sell them at. Once your sell order has been created, it will be executed automatically when a buyer matches your price.

Finding a Buyer

Once you have found a buyer who is willing to trade with you, it’s time to finalize the deal. Depending on how you want to get paid, there are different ways to do this. If you are selling Bitcoin for fiat currency, you will need to provide the buyer with your bank account information so they can make a deposit. If you are selling Bitcoin for another cryptocurrency, you will need to provide the buyer with your wallet address so they can send you the funds.

Once the deal is finalized, it’s time to send the Bitcoin to the buyer. If you are using an exchange, this will typically be done automatically. If you are selling directly to a person, you will need to send the Bitcoin from your wallet to theirs. Once the Bitcoin has been sent, all that’s left is to wait for the payment to be processed and for the funds to hit your account!

Negotiating the Price

The great thing about selling Bitcoin on Blockchain is that the price is negotiated between the buyer and the seller. There are no hidden fees or middlemen that take a cut of the sale, so you can always be sure that you’re getting the best possible price for your Bitcoin.

When you’re negotiating the price of your Bitcoin, it’s important to remember that there are two different prices that you need to take into account: the spot price and the exchange rate.

The spot price is the current market value of a single Bitcoin, and it fluctuates constantly throughout the day. The exchange rate is the price that you’re willing to sell your Bitcoin for in another currency, and it’s usually a little bit lower than the spot price.

For example, let’s say that the current spot price of Bitcoin is $1000 USD. You might be willing to sell your Bitcoin for $950 USD, which would give you a 5% profit on your investment. However, if the buyer only wants to pay $900 USD, then you might be better off finding another buyer who’s willing to pay closer to the spot price.

When you’re negotiating the price of your Bitcoin, it’s important to keep in mind what your goals are. If you’re looking to unload your Bitcoin as quickly as possible, then you might be willing to accept a lower price in order to get rid of it more quickly. On the other hand, if you’re hoping to make a profit on your investment, then you’ll need to be patient and wait for a buyer who’s willing to pay closer to the spot price.

Making the Sale

To sell Bitcoin on Blockchain, you will need to:

1. Log into your Blockchain Wallet
2. Click on “Sells” from the menu option
3. Enter the amount of BTC that you want to sell in the “Amount” field
4. Enter the BTC price that you are willing to sell your BTC for in the “Price per bitcoin” field
5) Select your payment method from the “Select Payment Method” drop-down menu
6) Enter your wallet address in the “Your BTC address” field
7) Click on the “Sell Bitcoin” button

Conclusion

Assuming you have already set up your Blockchain wallet and chosen an exchange to work with, selling your Bitcoin is relatively straightforward. In most cases, you will simply need to deposit your Bitcoin into your account on the exchange and specify how much you want to sell it for in fiat currency. Once the transaction is complete, the funds should appear in your account.

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