You own digital gold and now want to sell bitcoin. That you proceed to sell it can have several reasons. You need euros for unexpected costs or expenses, you have fat profits and want to cash out or perhaps cut your losses. Whatever the reason, understand well that when you start selling your BTC bitcoins, you will lose them. Of course, you are always free to buy them again at the exchange or broker of your choice. Just do this when the price has dropped a bit! If you are sure you want to sell your coins, this page will help you find the best place to do so.
A few important key criteria to directly answer any questions involved with the ‘sell bitcoin’ topic:
| Sell BTC with: | SEPA |
|---|---|
| Payout with euro: | Yes |
| Payout with dollar: | Yes, abroad |
| Payout with crypto: | Yes |
| Sell via app: | Possible |
| Sell from 1 euro: | Yes |
| Sell with iDEAL: | No |
| Sell at ING: | No |
| Sell at Rabobank: | No |
| Minimum sale: | 1 euro |
| Minimum amount: | 0,00001 BTC |
Sell bitcoin for euros or fiat money is most common in Europe. The trading pair BTC-EUR or EUR-BTC is therefore most frequent offered. Selling for stablecoins as Tether (USDT) or USDC (USDC) is also common, but the providers on CoinCompare do not support the trading pair BTC-USDT and BTC-USDC. Besides the different trading pairs, the exchanges and brokers also have their own way of buying and selling. At one provider you will receive the money in your account within 24 hours and at another provider you will receive the money directly in your account. Receiving or paying out your euro’s after selling your bitcoins can be direct or indirect.
Selling your bitcoin directly means that the money is deposited into your bank account after the sale. The money is often paid out by the trading platform within a few hours, but can take up to 24 hours. This is because the payout is done through a SEPA bank transfer and not through iDEAL. The providers where the money can be paid out immediately are:
At exchanges and brokers that offer the convenience of online wallets or vaults, you can indirectly sell bitcoin. When you sell your bitcoins on the trading platform, you receive the amount as credit in your account. The money is not paid into your bank account. For this you must have the credit paid out. How you do that differs from provider to provider. The trading platforms that support indirect selling are:
On another page, we described that you can get your hands on digital gold with iDEAL. But, can you also sell bitcoin with iDEAL? That the money you are owed is paid out via iDEAL. The answer, no. iDEAL is a business-to-consumer (B2C) payment method and does not process withdrawal transactions. All providers use a bank transfer (SEPA) when you want to pay out your balance. So regardless of whether you bank with ING, Rabobank, Bunq etc. you will receive your funds via SEPA. Even if you use a foreign bank, as long as it is within Europe. More about iDEAL.
If you have decided to sell and you know where, the only question left is when to sell bitcoin. Unfortunately, there is no simple to realize answer to that. Of course, when you have a profit due to an increase in price or after staking, that’s easy to say. And of course not when blood is running through the streets. But when the value rises in a bull market after you sell, you’re probably bummed. If you sell before the price drops in a bear market, then of course it’s good timing. So always make sure you have a plan when you’re buying, as well as when you’re selling bitcoin. You get in, but you also get out. So, when to sell bitcoin? Say you buy 3,000 euros worth of BTC and don’t plan to keep it for the long term (HODL). Then it is smart to agree with yourself that you sell at x percentage of e.g. 10% profit or loss. That means you sell at a value of 3300 euros or 2700. By the way, it does not have to be a percentage, it can also be an amount. Therefore, stick to this plan to keep your emotions in check. Either way, invest only what you can afford to lose!
You decide when you are going to sell your BTC. Make sure you have a plan and stick to it. For example, when bitcoin has reached a certain value you sell. Regardless of profit or loss. When you let yourself be led by emotions it goes wrong 9/10 times.
iDEAL doesn’t supports withdrawal transactions and therefore cannot be used to sell your bitcoin. When you sell your BTC the money will be deposited into your account via SEPA transfer or credited to your account. Which depends on how the provider operates.
Selling bitcoins is not so much about the amount, but the value of the amount. It is possible to sell a bitcent (0.01 BTC) or smaller quantities, as long as the trading platform accepts the value of the amount. At BLOX, you can sell as little as 1 euro. Bitvavo and Coinmerce has a minimum of 10 euros.
It depends on the provider how you receive your money, when you sell your digital gold. If you trade at a provider like Anycoin Direct, BTC Direct or Bitonic you will receive the money there almost immediately. With other crypto providers, such as Bitvavo and Coinmerce, you will receive the money in your account at the trading platform.
How much BTC you can sell depends on the resale value of the coin and the conditions set by the provider. If you are fully registered and identified with the trading platform, in most cases you can trade bitcoins indefinitely. Withdrawing money when you sell indirectly can be limited to an amount of 50,000 euros. It depends on the provider.
