How to Sell Bitcoin Cash (BCH)

The most popular way to sell bitcoin cash (BCH) tokens is to use platforms that combine buyers and sellers, such as cryptocurrency exchanges or peer-to-peer (P2P) services. BCH can also be sold directly to anyone else by sending tokens to the public address of their BCH wallet in exchange for legal tender, such as US dollars. So how to sell bitcoin cash (BCH)? Of course, you might hear it from everyone, but we’re going to repeat this again.  Because being cautious is the first strategy that you want to follow for your own safety.  Moreover, there is no other feeling as sweet as the feeling of multiplying your crypto holdings.

Want more than just to sell BCH? Access dozens of different cryptocurrencies selling guides 2022 here.

What is Bitcoin Cash (BCH)?

Bitcoin Cash (BCH) is a cryptocurrency that intends to offer an alternative to the world’s oldest and most widely traded cryptocurrency, Bitcoin (BTC). 

Launching in 2017, Bitcoin Cash was created by a group of Bitcoin users who disagreed with the roadmap proposed by the project’s principal developer group, Bitcoin Core, and who believed different technical decisions were needed to bring Bitcoin to a global audience.

Bitcoin Cash proponents tended to believe Bitcoin required modifications to make it competitive with traditional payment systems like Visa and PayPal. They also advocated for lowering the fees users pay to send transactions, preferring to shift these costs to other parts of the network. 

Toward this goal, Bitcoin Cash modified Bitcoin’s code and released a new software version with features that were no longer compatible with Bitcoin. At launch, this effectively split Bitcoin into two blockchains (Bitcoin and Bitcoin Cash) and two separate assets (BTC and BCH). 

This meant any user who owned BTC could claim an equal balance of BCH at the time the two blockchains separated. 

Since then, Bitcoin Cash has been quick to add new features, increasing the amount of data it can store in each block to 32 MB. (Bitcoin has since moved to an entirely different system for counting its transaction data.)

Bitcoin Cash has also since borrowed features from other cryptocurrencies, including functionality that enables users to launch new types of tokens on its blockchain.

How Does Bitcoin Cash (BCH) Work?

Bitcoin Cash is a distributed time-stamped ledger. It stores the remaining amount of crypto-asset after making a transaction. These transactions are recorded in chains where data can only be added (append-only) in 32 MB data blocks. This process is maintained by a network of economic and mining nodes. 

These nodes are responsible for validating new transactions. Moreover, they compete with each other to include pending transactions in new blocks. The Economic nodes receive transactions from participants and validate them. The validation is done according to the network consensus rules. The network’s mempool is then populated with valid transactions.

Here the mining nodes compete with each other to empty the mempool. The mining nodes confirm the transactions by including them in newer blocks. Transactions with higher transaction fees are added first. Moreover, Bitcoin Cash uses a Proof-of-Work consensus mechanism to maintain security on the network.

Read More:

Why Sell Bitcoin Cash (BCH)?

While some people invest in cryptocurrency with the goal of HODLing it for life, this may not be the case for everyone. There are various reasons that can push an investor to sell their BCH. To make things a little clearer, we are going to show you three cases where you might want to sell your Bitcoin Cash.

As you know, BCH is the result of a fork from Bitcoin. This happened because of a disagreement among members of the community. Since then, further squabbles have led to even more forks from Bitcoin Cash. Unfortunately, if you are looking for stability, the future may hold yet more forks in the future. If you don’t like this, then you might want to consider selling your Bitcoin Cash.

If you are a wise investor, you have no doubt already decided on the price levels where you will sell some of your BCH. You invested because you felt that there was some profit to be made and when that goal is achieved, stick to your plan! It is never a bad idea to take profits, stay disciplined, and do not let greed get the better of you.

It could also be that you are not really a big fan of Bitcoin Cash but invested in it because you believed that this digital asset had more potential than others. After a lengthy analysis, you may find that other projects are more profitable. In this case, it is quite normal to sell your BCH to invest in other digital assets which potentially have more attractive returns.

Where to Sell Bitcoin Cash (BCH)?

The most important thing to research before buying or selling BCH is to go to a reliable exchange site or other platform. If you try to make a transaction on a questionable site, you face a huge risk of falling into a scam and losing your money.

There are hundreds of different exchanges out there, and as you might expect, it’s not always easy to navigate through them. So we decided to let you benefit from our expertise (for free!) by providing you with a list of reliable platforms where you can buy or sell BCH safely.

You do not have to use any of the exchange sites that we present to you, but in this case, we advise you to exercise great caution when choosing a platform to buy or sell. Avoid going for a new site or an operator with a bad reputation as far as possible.

Option 1: Cryptocurrency Exchanges

Cryptocurrency Exchanges often support a wide range of fiat currencies. A crypto exchange can act as an intermediary between sellers and buyers of cryptocurrency. To sell Bitcoin Cash (BCH) for cash, you will first need to set up an exchange account and deposit your Bitcoin Cash (BCH) in the hot Bitcoin Cash (BCH) wallet that is provided by the exchange.

Note that most reputable Bitcoin Cash (BCH) exchanges require their users to provide personal information before they can sell cryptocurrency, in order to comply with KYC and AML rules.

The key advantage of using a cryptocurrency exchange to sell Bitcoin Cash (BCH) for cash is that well-known exchanges have deep liquidity and provide quick access to a large pool of potential buyers.

They are also relatively easy to use: you will need to place a sell offer, defining how much cryptocurrency you wish to sell and set your asking price per unit. The exchange then automatically processes the transaction once your offer is matched.

Option 2: Direct Trades (Person-to-Person)

  1. Online P2P Selling
  2. Face-to-face Transactions

Rather than doing the work for you, a peer-to-peer (P2P) exchange lets you choose your price, and the platform helps find a buyer willing to pay it. The two parties then decide between them how to pay. You can sometimes do this on the site — often called direct trades — but normally, you would use a separate bank transfer. 

P2P trading allows you to sell cryptocurrency without the limits of an exchange. This means that you could do a wire transfer, send gift cards for popular online stores, trade cash in the real world or even send expensive art if that’s what you want; as long as both parties agree, and you’re in a P2P marketplace that doesn’t limit payment methods. 

There are some problems around this, such as what happens if the buyer doesn’t pay up, and the peer-to-peer marketplaces will still have some information on who you are. However, this is still a good step if freedom of choice and minimal interference are your priorities while still having access to things like escrows to hold the Bitcoin Cash (BCH) for protection from fraud.

Option 3: Bitcoin Cash (BCH) ATMs

It may be hard to come to terms with since Bitcoin Cash (BCH) ATMs are directly connected to the internet, but BTMs are entirely secure. BTMs are equipped with technology that protects against software and hardware malfunctions. Malware technology is also not able to threaten Bitcoin Cash (BCH) ATMs. Your digital wallet is encrypted and protected. Without the correct passwords and security credentials, no one aside from you can access your wallet.

A number of Bitcoin Cash (BCH) ATM operators have come together to form the Cryptocurrency Compliance Cooperative to make the use of Bitcoin Cash (BCH) ATMs even safer for the consumer, furthering the legitimization of the cash-to-cryptocurrency industry.

How to Sell Bitcoin Cash (BCH)?

Cryptocurrency Exchanges

  • Step 1: Set up an exchange account

The first thing you need to do is decide which form of money you will accept for your Bitcoin Cash (BCH).

Now that you know which currency you want in exchange for your cryptocurrency, its time to make an account on a platform that lets you sell your Bitcoin Cash (BCH).

There are tons of platforms to sell Bitcoin Cash (BCH) on, and the easiest, by far, are exchanges and brokers like Coinbase or Coinmama.

Signing up on Coinbase is really simple – it’s like making an account on Amazon!

  • Step 2: Transfer your Bitcoin Cash (BCH) to your exchange wallet

Now that your account is created, you’ll need to deposit your crypto assets on the exchange.

Hit the “deposit” or “sell” button.

You’ll be presented with a wallet address and/or a QR code.

Scan that into your Bitcoin Cash (BCH) wallet and send the amount of coins you want to sell.

  • Step 3: Place a sell order

Now it’s time to make a sell offer on the platform you are selling on.

That means determining the price you are willing sell your Bitcoin Cash (BCH).

The process for doing this always looks a little different on every platform, but for the most part, it works the same way.

Look for the “sell” or “trade” tab, and either sell at the price offered by the broker or create a custom sell order on an exchange order book.

The only difference is, with a broker, you are selling at whatever the spot price is (minus some fees).

With an exchange, you can set whatever price you want. Just don’t expect for the sell to be accepted by any takers if your price is too high.

The nice thing about the crypto exchanges are that the fees tend to be lower than the brokerages.

Direct Trades (Person-to-Person Trading)

  • Step 1: Go to the P2P Trading Page

Select (1) “Buy Crypto” then click (2) “P2P Trading” on the top navigation.

  • Step 2: Choose to Sell and Set Your Currencies

Click (1) “Sell” and select the currency you want to buy (USDT is shown as an example). Filter the price and the (2) “Payment” in the drop-down, select an ad, then click (3) “Sell”.

  • Step 3: Find a Buyer

After the buyer makes payment, the transaction will now display “To be released”. Please make sure that you’ve actually received payment from the buyer, to the payment app/method you used. After you confirm the receipt of money from the buyer, tap “Confirm release” and “Confirm” to release the crypto to the buyer’s account. Again, If you have not received any money, please DO NOT release crypto to avoid any financial losses.

  • Step 4: Choose How Much You Want to Sell

Enter the amount (in your fiat currency) or quantity (in crypto) you want to buy and click (2) “Sell”. The transaction will now display “Payment to be made by buyer”.

  • Step 5: Send the Offer

You can use Chat on the right side to communicate with the buyer in the whole process.

If you have any issues in the transaction process, you can contact the buyer using the chat window on the top right of the page or you can click “Appeal” and our customer service team will assist you in processing the order.

  • Step 6: Confirm the Release

The transaction will now display “Pending Payment”. After the buyer makes payment, the transaction will now display “Confirm Receipt”. Please make sure that you’ve actually received payment from the buyer, to the payment app/method you used. After you confirm the receipt of money from the buyer, tap “Payment received” and “Confirm” to release the crypto to the buyer’s account. Again, If you have not received any money, please DO NOT release crypto to avoid any financial losses.

Bitcoin Cash (BCH) ATMs

  • Step 1: Choose withdraw cash
  • Step 2: Choose Bitcoin Cash (BCH) (these machines normally may support other cryptocurrencies)
  • Step 3: Choose amount to withdraw
  • Step 4: Send Bitcoin Cash (BCH)s to given address QR code
  • Step 5: Receive cash immediately as Bitcoin Cash (BCH)s transaction is propagated on the network

Selling Bitcoin Cash (BCH) FAQs

Can I Sell Bitcoin Cash (BCH) for Cash?

Yes. You can convert Bitcoin Cash to cash directly, either through a bitcoin cash ATM or a peer-to-peer transaction and choosing to sell it in person. You just need to go to an exchange and click to sell your bitcoin cash. Then you can choose how much you want to sell and move your cash to a bank. If you want to turn it straight to cash instead, then you should go through a bitcoin cash ATM.

What Is The Best Way to Sell Bitcoin Cash (BCH)?

Getting into crypto does not always mean buying the dip, it also involves anticipating the right time to sell the digital assets. The most popular way of selling Bitcoin Cash (BCH) tokens is using platforms that unite buyers and sellers, such as cryptocurrency exchanges or a peer-to-peer (P2P) service. BCH can also be sold directly to any other person — by sending the tokens to their BCH wallet’s public address in exchange for fiat currency such as the dollar.

Crypto exchanges are one of the most popular platforms to buy and sell a wide range of cryptocurrencies. Typically, a crypto exchange allows users to place a buy or sell order for cryptocurrency tokens against other cryptocurrencies or local currency. 

To do this, exchanges use trading pairs that represent the asset you will be exchanging your BCH tokens against. For example, placing a sell order with a BCH/USD trading pair means agreeing to exchange your BCH tokens against an equivalent amount of the U.S. dollar. Similarly, a BCH/BTC trading pair will let you exchange an equal amount of Bitcoin for the worth of your BCH tokens.

Given its popularity as an asset among investors, investors can find BCH on most mainstream exchanges across the world. The process of selling BCH on a crypto exchange is fairly straightforward: Transfer the BCH tokens on the exchange’s BCH wallet, place a sell order against a trading pair of your choice and wait until the transaction is processed.

Once the equivalent fiat or cryptocurrency is shown on the respective wallet, you can either transfer the fiat currency to your bank account or purchase any other cryptocurrency of your choice. 

Is It Easy to Sell Bitcoin Cash (BCH)

The process of selling BCH on a crypto exchange is fairly straightforward. Unlike BTC or ETH which can be bought in a multitude of different ways, it will be much more difficult to be able to successfully buy BCH with PayPal, cash, paysafecard, or even Skrill.

However, there are a few exchange sites where you can deposit with these payment methods, and then go on to buy using your account balance. If you find that the option is open to you, then you can use one of these less conventional options to buy BCH.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *