Can you explain the process of buying and selling of Bitcoin?

uptrendfinancialsignal

Well Known

Member

Nov 24, 2022

8,905

181

Dex

$0.004

Raw Dex

$0.121

• Jan 27, 2024

• #1

The process of buying and selling bitcoin typically involves choosing a reputable cryptocurrency exchange or any platform offering crypto related transactions and verifying your identity before you fund your account using the fiat currency or you can fund the account with the cryptocurrency itself . You can use popular exchanges like coinbase , binance or kraken because they offer user friendly interface and they also provide the variety of payment options for buying the Bitcoin.

 

deucher

Unfamiliar

Member

Mar 24, 2023

160

6

Dex

$0.000

Raw Dex

$0.020

• Feb 1, 2024

• #2

It is very simply explained as demand and supply, someone has a desire to buy a coin, you have a motivation to sell it, and the exchange acts as an intermediary, so you simply place an order to sell, and the person who wanted to buy a bitcoin buys from you, and the exchange takes its commission

 

Suba

Notable

Member

Nov 11, 2022

3,879

471

Dex

$0.000

Raw Dex

$1.585

• Feb 1, 2024

• #3

That's right, before we transact Bitcoin we have to choose a trusted crypto exchange, registered and verified by the government so that we are safe. After you create an account and verify and KYC, to buy Bitcoin we have to deposit fiat money either by bank transfer or via ewallet. Next we can choose BTC/fiat money (local money or USD).

 

SHAHID987

Notable

Member

Nov 15, 2022

3,835

228

Dex

$2.925

Raw Dex

$0.013

• Feb 1, 2024

• #4

Just open your account in any exchange like Binance, Kucoin or OKX after KYC, You will be able to start trading. Next all process are very easy. Exchange people will guide you, just convert your few dollars into Bitcoin.

 

T

timewo

Notable

Member

Jul 30, 2022

2,713

212

Dex

$0.160

Raw Dex

$0.813

• Feb 14, 2024

• #5

Selling BTC on Binance P2P or send cash feature was fairly easy , after specifying the BTC amount available for sale, a price will be offered, and the BTC buyer will make payment to the bank account.

 

N

Nite

Notable

Member

Nov 13, 2023

1,042

34

Dex

$4.020

Raw Dex

$0.221

• Feb 20, 2024

• #6

Once you have funded your account, you can then place an order to buy or sell bitcoin at the current market price. Keep in mind the price of bitcoin can be volatile, so it's recommended to do research and stay informed about market trends before making any transactions.

 

B

Bisolami

Very Familiar

Member

Sep 19, 2022

17,833

1,535

Dex

$0.000

Raw Dex

$0.078

• Apr 26, 2024

• #7

Suba said:

That's right, before we transact Bitcoin we have to choose a trusted crypto exchange, registered and verified by the government so that we are safe. After you create an account and verify and KYC, to buy Bitcoin we have to deposit fiat money either by bank transfer or via ewallet. Next we can choose BTC/fiat money (local money or USD).

Click to expand...

The best thing that one should make sure is that the exchange platform should be available in his or her community. There are so many exchange platforms that are not available in our country and we may not be able to buy BTC from them