How to Safely Exchange Bitcoin


The first thing you should pay attention to is the currency rate which is typical for digital currencies as well as for fiat ones. Therefore, before exchanging BTC to USD, you should inquire about its value, and this can be done, for example, by monitoring the data on the Internet. Find up-to-date data at the current time and the rates and exchanges that you can use.

According to the elementary laws of economics, a transaction to buy currency should be made during the period of its price fall and sold during its rise. Therefore, if there is no urgency in the exchange, you should first of all be guided by this rule and wait for the appropriate BTC/USD rate.

If you want to conduct an exchange, address only reliable and proven platforms. If the transaction is carried out online, then, when choosing an exchange, pay attention to its reputation (according to reviews) and how your safety is guaranteed, and only then evaluate the benefits of the rate, the impact of additional conditions, the duration of its operation, etc.

 

Exchanges and why they are the most rational solution

The specialized exchange is the easiest, safest, and most reliable way to exchange Bitcoin for USD. It is fast, convenient, reliable, and safe.

It is not rational to waste time looking for a private person interested in a deal because it is longer, often unsafe, and not always profitable (today everyone is trying to adhere to the middle course so as not to be too cheap and not overpay). Also, don’t get hopeful about bitcoin terminals. 

Some users, having heard about the appearance of cryptomats, first of all, consider them to be an easy way to exchange Bitcoins for traditional money. But they are mistaken. In those terminals, reverse transactions are not yet provided, i.e., you can buy a cryptocurrency, but you cannot change digital coins for ordinary money.

You can not address common bank exchanges because they don’t conduct such transactions. Digital assets are still not recognized as official payment methods. Contact specialized services. There are a lot of them on the Internet today. It is extremely simple to work with them, instructions for action are always provided to the client, you can get money in exchange for the bitcoins handed over:

  • by transfer to the specified bank card (a foreign currency account must be available on it);
  • in cash at the office (some exchangers have them) or through a courier.

Finding a suitable exchange service will not be difficult for you. The main thing is to carefully check the reviews on the Internet and if something will still not be completely clear for you, don’t hesitate to contact the support team, and ask them everything you want to know. 

If you have any friends who are more experienced than you, you should definitely contact them and ask for advice. This is the best option.