How To Sell Bitcoin On Kriptomat

How To Sell Bitcoin On Kriptomat

Bitcoin is completely decentralized, so there is no financial institution (for example, a bank or state authority) that would manage its development and supply. Bitcoin is literally in the hands of the people. This is the fundamental difference between Bitcoin and the standard fiat money issued by governments.

Now, let’s focus our attention on the main topic of this article.

First of all, what does it even mean to cash out your Bitcoin? Well, this is simply a process of selling Bitcoin for fiat currency and then withdrawing the funds to your bank account. If you want literal cash out, you can physically withdraw the money from your bank account.

But naturally, if you want to sell Bitcoin, you must first own some. I kindly recommend you read our article on how to buy Bitcoin.

How to Sell Bitcoin

The two most convenient methods are certainly selling via an online Bitcoin exchange and selling via the Bitcoin ATM. We will take a closer look at the bitcoin exchange option.

The easiest way to sell Bitcoin is by using an online Bitcoin exchange like Kriptomat. Kriptomat allows you to sell Bitcoin for euros, which you can then withdraw to your bank account

Please note that you can only withdraw euros to a previously connected bank account which was used to make a deposit at least once before. If you have not already done so, then we recommend that you purchase a small amount of cryptocurrencies (you can later sell them and withdraw the funds). This is necessary for the verification of your bank account and a critical security measure against money laundering.

instructions

Sign in to your Kriptomat account and go to the “Buy/Sell” section.

  1. Select the “Sell” tab.
  2. Select Bitcoin (BTC) from a drop-down list of cryptocurrencies.
  3. Enter the amount you want to sell. You can enter it either in euros or in Bitcoin. If you enter a euro amount, then the system will automatically calculate how much Bitcoin you will sell. If you enter a Bitcoin amount, then the system will automatically calculate how many euros you will receive.
  4. Click the “Sell Bitcoin” button.
  5. You will be redirected to a page where you can review and confirm the transaction.
  6. You will soon receive euros to your Kriptomat user account! In most cases, the process takes a maximum of a few minutes.

At Kriptomat, you can sell all your cryptocurrencies directly to euro – even the ERC20 tokens that are available elsewhere only in pair with Ethereum (ETH). This means that you don’t need to make double exchanges from token to ETH, and then from ETH to euro.

How to Register on Kriptomat (instructions)

  1. Go to Kriptomat and click on one of the registration buttons.
  2. You will be redirected to the registration screen, where you will need to input your information.
  3. Enter your real name and last name.
  4. Enter your email address that actually exists.
  5. Create a strong password that you don’t use anywhere else.
  6. Solve the Captcha to confirm that you are not a robot.
  7. Click the “Create an account” button.
  8. Sign in to your email (the one from Step 4). You will receive a message from Kriptomat which will contain a confirmation link. Clicking on it confirms that you actually have access to this email.
  9. After clicking the link, you will be redirected to a page where you have to enter your phone number. This is an additional security step to prove ownership of your user account.
  10. You will need to enter the six-digit code that was sent to your phone number via SMS. This is how you verify your phone number.
  11. Identity verification is the last important step before you can use the platform. You will need to upload images of a personal document (Kriptomat accepts National Identity Cards and Passports) and a “Selfie” where you hold the selected personal document in your hand (see the picture below for reference).
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How To Sell Bitcoin On Kriptomat

Posted by staff on June 2, 2021

Bitcoin cryptocurrency Insights & Tutorials


How To Sell Bitcoin On Kriptomat

How To Sell Bitcoin On Kriptomat

Bitcoin is completely decentralized, so there is no financial institution (for example, a bank or state authority) that would manage its development and supply. Bitcoin is literally in the hands of the people. This is the fundamental difference between Bitcoin and the standard fiat money issued by governments.

Now, let’s focus our attention on the main topic of this article.

First of all, what does it even mean to cash out your Bitcoin? Well, this is simply a process of selling Bitcoin for fiat currency and then withdrawing the funds to your bank account. If you want literal cash out, you can physically withdraw the money from your bank account.

But naturally, if you want to sell Bitcoin, you must first own some. I kindly recommend you read our article on how to buy Bitcoin.

How to Sell Bitcoin

The two most convenient methods are certainly selling via an online Bitcoin exchange and selling via the Bitcoin ATM. We will take a closer look at the bitcoin exchange option.

The easiest way to sell Bitcoin is by using an online Bitcoin exchange like Kriptomat. Kriptomat allows you to sell Bitcoin for euros, which you can then withdraw to your bank account

Please note that you can only withdraw euros to a previously connected bank account which was used to make a deposit at least once before. If you have not already done so, then we recommend that you purchase a small amount of cryptocurrencies (you can later sell them and withdraw the funds). This is necessary for the verification of your bank account and a critical security measure against money laundering.

instructions

Sign in to your Kriptomat account and go to the “Buy/Sell” section.

  1. Select the “Sell” tab.
  2. Select Bitcoin (BTC) from a drop-down list of cryptocurrencies.
  3. Enter the amount you want to sell. You can enter it either in euros or in Bitcoin. If you enter a euro amount, then the system will automatically calculate how much Bitcoin you will sell. If you enter a Bitcoin amount, then the system will automatically calculate how many euros you will receive.
  4. Click the “Sell Bitcoin” button.
  5. You will be redirected to a page where you can review and confirm the transaction.
  6. You will soon receive euros to your Kriptomat user account! In most cases, the process takes a maximum of a few minutes.

At Kriptomat, you can sell all your cryptocurrencies directly to euro – even the ERC20 tokens that are available elsewhere only in pair with Ethereum (ETH). This means that you don’t need to make double exchanges from token to ETH, and then from ETH to euro.

How to Register on Kriptomat (instructions)

  1. Go to Kriptomat and click on one of the registration buttons.
  2. You will be redirected to the registration screen, where you will need to input your information.
  3. Enter your real name and last name.
  4. Enter your email address that actually exists.
  5. Create a strong password that you don’t use anywhere else.
  6. Solve the Captcha to confirm that you are not a robot.
  7. Click the “Create an account” button.
  8. Sign in to your email (the one from Step 4). You will receive a message from Kriptomat which will contain a confirmation link. Clicking on it confirms that you actually have access to this email.
  9. After clicking the link, you will be redirected to a page where you have to enter your phone number. This is an additional security step to prove ownership of your user account.
  10. You will need to enter the six-digit code that was sent to your phone number via SMS. This is how you verify your phone number.
  11. Identity verification is the last important step before you can use the platform. You will need to upload images of a personal document (Kriptomat accepts National Identity Cards and Passports) and a “Selfie” where you hold the selected personal document in your hand (see the picture below for reference).
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