How to Sell Your Bitcoins
From time to time, CoinMama clients are interested in selling Bitcoins. As you can see on our site, the Sell Bitcoin feature isn’t active yet, but we’re nearly there…
Your options for selling Bitcoins as for today, are through various Bitcoin exchanges or private individuals that buy and sell Bitcoins.
Now a days there are quite a few exchanges to choose from, some are well-known others are less, the choice is yours. The different exchanges mainly work the same and have a similar fee structure. Depositing Bitcoins into the exchange is pretty fast of course. The moment your bitcoin transaction has 2 to 3 verifications, the exchange will add your Bitcoins to your Bitcoin balance, which can then be sold instantly and exchanged into fiat currency. However, waiting for the exchange to verify your account and actually withdraw your Dollars, Euros or what not can take between 3 to 5 working days.
The second option we mentioned above is to find a person willing to buy your Bitcoins directly from you.
The site will help you find local agents around you based on your country and city. Once the site connects between the two parties, it’s up to them to decide the method of payments involved and possible fees that will be charged. As these transactions are unregulated, a certain degree of trust is required in all situations.
CoinMama plans on enabling the Sell Bitcoin feature ASAP, allowing our clients to sell Bitcoins instantly on our site and receive US dollars in return within minutes!