Home » How to Sell Bitcoin in Crypto-Friendly Countries – A Complete Guide

How to Sell Bitcoin in Crypto-Friendly Countries – A Complete Guide

by Uneeb Khan

Do you know why the Crypto industry is rapidly growing globally? The crypto industry (The future of the digital economy) is generating fast-emerging digital assets and working on providing financial services globally. Crypto Exchanges are becoming user-friendly as you can easily buy, sell, trade and invest in Bitcoin and other cryptocurrencies. You can keep them in digital wallets as well. Crypto platforms are working to facilitate convenient transactions while maintaining security measures.    

The crypto world is gaining attention. It’s attracting customers by providing several benefits like protecting against inflation, being cost-effective and helping to make huge payments securely. Interestingly now you can manage your currency and self-govern it as per your priority.

Some Methods To Sell Bitcoin In Dubai Or Other Crypto-Friendly Countries

Mostly, people buy Bitcoin from an investing point of view. When the value of Bitcoin increases they want to sell it or hold it so that they can earn more. Selling Bitcoin is somewhat similar to buying Bitcoin but with a reverse process. There are some methods to sell Bitcoin with fast settlements and low transaction costs while maintaining privacy. They are

  • Selling through the Bitcoin exchange 
  • A pee­r-to-peer marketplace­
  • OTC (Ove­r-The-Counter)
  • Bitcoin ATM or Gift Cards

Selling through the Bitcoin exchange 

  • Here Bitcoin Exchange serves as an intermediary and helps you buy and sell.
  • An easy and common method to sell Bitcoins.
  • You have to create an account and verify your identity.
  • If you have Bitcoin in your account. Place the sell order, and specify the amount and desired price.
  • When someone matches your order, the exchange will allow the transaction. 

A pee­r-to-peer marketplace­

  • P2P Exchange offers direct trading and selling. You can sell your Bitcoins directly to other individuals or organizations.
  • Install the P2P app and transfer the Bitcoin funds.
  • Specify the price and the buyer will contact you directly. If both the parties agree on the terms then the seller can withdraw funds from the bank account.
  • P2P also allows sellers to negotiate terms and conditions outside the exchange platform. Allows direct transactions, exchange of Bitcoin or other currencies and receiving payment.

OTC (Ove­r-The-Counter)

  • Selling Bitcoin face to face on OTC desk. 
  • Allows large amounts of buying and selling.
  • You can set the desired amount for your Bitcoins.
  • Works as a private trader, therefore, it has additional fees. 

Bitcoin ATM or Gift Cards

  • Bitcoin ATMs are different from average ATMs.
  • Some Bitcoin ATMs allow you to exchange Bitcoins and withdraw cash directly.
  • Bitcoin ATMs are one of the best options but charge high fees. 
  • Some platforms offer Bitcoins for gift cards. 

You can choose any of these methods at your convenience to sell Bitcoins in Dubai or other Crypto-Friendly Countries. However, the crypto industry is unstable. Therefore,  to save yourself from fraud or scams, you must find a reliable and trustworthy platform to buy or sell Bitcoins. 

In this guide, I’ll help you in choosing the best Bitcoin Exchange platform in Dubai and other Crypto-friendly countries. No doubt, every exchange platform has its benefits and drawbacks but I’ll surely highlight reliable crypto platforms in the mentioned countries below

USA

The crypto trend is going upwards in the USA. If you are residing in the USA then Coinbase is the best. It is popular as the second-largest exchange platform globally. 

Pros:

  • Coinbase is a public company, that believes in transparency which gives a secure feeling and mental peace while dealing in the crypto market.
  • Coinbase has had a good record in the past. 
  • Allowing you to stake your currency means you can hold on to your crypto and earn the reward. 

Cons:

  • Is unavailable in many states.
  • Fees are higher as compared to other competitors. 

Switzerland

Switzerland is a Crypto-friendly country, provides a good environment and has a progressive and positive attitude towards cryptocurrencies as compared to many other countries. Even Some cities in Switzerland have granted legal status for transactions. 

In Switzerland, eToro is one of the best exchange platforms. 

Pros:

  • Offers over 4,500 financial assets including Ethereum, Bitcoin, and Tether. 
  • eToro offers zero initial commissions.
  • Allows safe investments in regulated mode and investors get a variety of options like credit/debit cards, bank transfers, e-wallets and online banking.
  • Operates under the supervision of Anti-Money Laundering (AML) and the Swiss Financial Market Supervisory Authority (FINMA).

Cons: 

  • Trading fees are high as compared to others. Charge 1% on buy and sell both.
  • Explores a limited range of assets. 
  • Charge $5 withdrawal fees and you have to pay $10 per month, If you remain inactive for 12 months.
  • Hidden fees.
  • focused on CFDs (Contracts for Difference) that are difficult to understand and risky for beginners.
  • No access to other investment options. 

Singapore

Singapore is promoting Blockchain technology and has become an advanced hub for the crypto Market. To sell Bitcoin, Gemini is a licensed platform and works best in Singapore. 

Pros:

  • Well-designed, user friendly and easy to use for beginners.
  • It provides strong security measures and has a clear past, which means this platform has never been hacked.
  • Allows you to hold currency to help you earn late.
  • Offers advanced tools.

Cons:

  • High fees.
  • Allow Limited cryptocurrencies.

Germany

Germany was one of the first countries that established a framework for digital currency. To sell Bitcoin, Kraken is a licensed crypto-exchange platform that works best in Germany. It is a reputable and secure exchange platform.

Pros:

  • Provides peace of mind as they are regulated and offer legal options for trading.
  • offers a variety of coins and many investment strategies.
  • Offers lowest trading fees and also provides discounts for higher trading.
  • High liquidity.
  • Kraken provides advanced features including margin trading, staking, and OTC trading.
  • Have security features like multi-factor authentication and cold storage.

Cons:

  • Support limited currency like Euros (EUR) in Germany.
  • Kraken doesn’t offer purchases of crypto with credit cards in Germany.

United Arab Emirates 

UAE is a globally developed crypto country. You will find several exchange platforms in Dubai but finding a reliable and trustworthy platform is hard. However, MCX is one of the best OTC exchange platforms where you can buy, sell, trade and invest Bitcoins and other cryptocurrencies easily. 

Pros:

  • MCX operates as an OTC (Over-The-Counter) platform.
  • MCX is a trustworthy platform that ensures strong security measures.
  • Provides fast service and offers direct transactions between clients.
  • No hidden fees
  • Offers over 500 crypto assets. 
  • MCX offers customized transactions and you can easily visit their office in Dubai
  • Have the best customer service.

Cons:

  • Limited payment methods and limited currencies are accepted. If you are residing in Dubai then it’s best for you as they are restricted to local currency like AED.

Conclusion 

The cryptocurrency market has exploded globally. You will find thousands of crypto-exchange platforms for buying and selling cryptocurrency but not all are authentic and this can increase the chance of losing money. 

Therefore, if you want to sell Bitcoin in Dubai or other crypto-friendly countries then it is a must to do some research and find an authentic platform. Must ensure that the platform is regulated. 

However, It is always better to invest with a low amount while checking the security measures and transparency.

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