BitPay does not directly buy or sell cryptocurrency, therefore, if you want to sell your cryptocurrency, you need to do it with a third party.
At BitPay, we've partnered with MoonPay to simplify the process of selling your cryptocurrency directly within the BitPay App. However, some users may prefer to sell their crypto via a third party exchange. This article explains the differences between these two methods and provides tips to ensure a safe and smooth transaction experience.
Option 1: Selling Crypto with MoonPay in the BitPay App
Using MoonPay within the BitPay App is straightforward, secure, and convenient:
- Integrated Process: No need to leave the app. Simply select the crypto you want to sell and follow the instructions.
- Fast Settlement: Faster than traditional exchanges.
- User Friendly: Designed to save time and avoid the complexity of managing external wallets or exchanges.
- Ready to sell your crypto? feel free to check this article Here and follow the steps.
Option 2: Selling Crypto via an Exchange
Alternatively, you can transfer your cryptocurrency to an external exchange and sell it there. Here’s what to keep in mind:
-
-
Reputable and Trustworthy: Choose well-known exchanges to avoid scams or losing your funds.
-
Availability in Your Country: Ensure the exchange operates in your region to avoid higher fees or complications when withdrawing funds to your local bank account.
Research Exchanges Carefully:
-
-
Sending Funds to an Exchange Wallet:
To transfer crypto from the BitPay App to an exchange, follow these precautions:- Coin Compatibility: Ensure the wallet address provided by the exchange matches the cryptocurrency you're sending. Sending funds to the wrong wallet type can result in permanent loss of funds.
-
Use Copy-Paste or QR Scanning:
- If using two devices, scan the QR code provided by the exchange.
- If using one device, copy the wallet address and paste it into the BitPay App. Avoid manual entry to minimize errors.
- Double-Check the Address: Verify the address in the BitPay App matches the exchange's wallet address exactly. Cryptocurrency transactions are irreversible, so mistakes cannot be corrected.
Final Recommendations
- If you value simplicity and speed, selling through MoonPay in the BitPay App is ideal.
- For more flexibility or access to additional features, selling via an exchange may suit your needs.
Regardless of your choice:
- Use reputable platforms to avoid scams.
- Ensure the wallet addresses are correct to prevent irreversible mistakes.
- Verify regional compatibility to minimize fees and processing delays.
For additional help, visit the BitPay Help Center.
Comments
0 comments
Article is closed for comments.