Sell Bitcoin Australia
If you’ve bought Bitcoin as an investment, you may wish to sell Bitcoin in Australia later. At BTC.com.au, you can buy and sell Bitcoin using AUD fiat currency, also known as turning BTC to cash. You can trade crypto and transfer any funds from the sale to your linked Australian bank account in the BTC.com.au crypto exchange. Using BTC.com.au is one of the easiest ways to buy and sell crypto in Australia, as you won’t need to exchange your AUD for USD like you may need to at other international crypto exchanges.
The easiest way to sell Bitcoin in Australia is through an Australian-based crypto exchange, such as BTC.com.au. When selling your Bitcoin, it is best completed through a trusted exchange that offers you good value and fast transactions. All crypto exchanges should be registered with AUSTRAC (Australian Transaction Reports and Analysis Centre) to protect Australians from scams and money-laundering exchanges.
When you decide to sell your Bitcoin in a cryptocurrency exchange, it will go through a specific process.Choose the best cryptocurrency exchange
You’ll find several crypto exchanges operating in Australia. Naturally, we think BTC.com.au offers the best value, but it is up to the individual investor to determine the best exchange for their needs. Examine elements, such as ease of use, fees applicable, and level of service provided.Create your account
Creating a new account with your chosen exchange should take about as long as opening a regular bank account. The more personal information you have on one hand, the faster it will be to open your account.Verify your exchange account and link your bank account
After creating your account, you may be asked to verify the account through an SMS or email. At this time, you may also choose to link an existing Australia bank account to your exchange account.Place your BTC into your new account
You can send any BTC you own to your new exchange account and prepare it for sale on the platform. Transferring BTC from your wallet to your crypto account will take up to 20 minutes to complete.Sell your Bitcoin
Go through the process as dictated at your crypto platform of choice. Many modern crypto exchanges offer a one-click sales process, and others may be more detailed.Send the AUD from the sale into your bank account
After the sale is completed, your account will show an amount in AUD that is available for transfer to an existing bank account. You can leave the funds from the sale in your account, making any future purchases easier.
The time it takes to sell Bitcoin in Australia relies on many factors. If the exchange is busy, it can take some time to clear out all the transactions and have your money deposited into your account. A good guide for how long it takes to sell Bitcoin in Australia and have the money from the sale in your account is up to three days.
Investing in Bitcoin can be treated the same as many other investments. You can buy Bitcoin when the price is lower (or on the rise) and then sell it later for a higher price than you paid. Getting this timing right can be challenging, and as many people get it right as those who get it wrong.
One of the problems with Bitcoin investing is that many people claim they know bulletproof methods. If you find someone who claims to have inside information or a special tool that predicts the price, you’ll find they may only be looking to take advantage of you.
The best way to know when to sell Bitcoin in Australia is to learn as much about Bitcoin as possible and then watch for changes in the market. By watching the price of Bitcoin, it can be possible to predict when it is the best time to sell Bitcoin in Australia.
An excellent way to think about Bitcoin is to compare it to other stocks in the market. People have been buying and selling company stocks for generations. A standard stock trading tactic is to buy stock in a company when it is low and sell it when its value increases. In addition to learning about Bitcoin, you can learn about stock markets, which will inform you how to watch out for the detailed price movements of any particular stock, commodities, and other assets.
When investing in cryptocurrency, it is good to have a strategy and then follow it while leaving your emotions to the side. Selling something at a loss can be challenging, but if the price of a stock gets too low, often it can be good to limit your losses. Over time your gains and losses will balance out, and you will have a reasonable profit if you’ve acted correctly. For example, if you sell your Bitcoin at a 20% increase one day, and next week you lose 16%, you’ve made a 4% total profit.
If you plan on investing for fun or profits, trading in cryptocurrency can be an exciting challenge. At BTC.com.au, we have many articles that discuss investing in Bitcoin and other cryptocurrencies. You can read more on how to spend your Bitcoin, what you can buy with Bitcoin, how to use Bitcoin, how to spend Ethereum, and buy things with Ethereum. If you’re ready to start investing in cryptocurrency, open an account today!
Create an account
Enter your email address and secure password to start your crypto journey.
Verify your identity
Use our automated identity verification system to instantly verify and activate your account.
Start buying and selling
Make your first deposit and begin trading digital currency. It's really that easy!