Rumors of a coming “fork” in Bitcoin caused the digital currency to split into two separate coins. The new version of Bitcoin is called “Bitcoin Cash,” and it currently trades at less than 10 percent of the value of original bitcoin. But how can you sell your bitcoins for cash? And how can you buy bitcoin cash Australia and sell your Bitcoins for cash? Here’s what you need to know. There are a few ways to sell your bitcoins for cash, and one of the easiest is through an intermediary like LocalBitcoins or VirWox. In this article, we’ll explain how to buy Bitcoin Cash and sell your Bitcoins for cash.
How to buy Bitcoin Cash and sell your Bitcoins for cash?
The first step to selling your Bitcoins for cash is to find a way to buy Bitcoin Cash. You can do this through several online exchanges, including Coinbase, Kraken, and Binance. When you’ve purchased Bitcoin Cash, then you can sell your Bitcoins for cash. There are a couple of ways to do this, and both involve meeting with a third party to conduct the transaction. The top options for buying and selling are LocalBitcoins, VirWox, and Coinbase.
Why would you sell BTC for cash?
The current protocol for creating new bitcoins is called the “difficulty protocol” and has been in place since October 2009. It is programmed to gradually reduce the rate of new bitcoins every 210,000 blocks, or about every four years. The next change to the difficulty protocol is expected to happen around the end of October 2017. This next change is expected to reduce the rate of new bitcoins even more, from the current rate of 12.5 every 10 minutes down to 6.25 every 10 minutes. This will likely be a contentious change, especially among the larger miners who rely on these new bitcoins to cover their costs.
If you had a significant amount of money in bitcoin, you might want to hold on to some of it in case Bitcoin Cash becomes more valuable. You can sell any bitcoins you receive from Coinbase or other exchanges.
And if you’re thinking about buying bitcoin for the first time, you can do so with confidence. The risk of a “hard fork” happening with any given bitcoin purchase might seem high, but you can minimize that risk by buying only from a reputable exchange.
There are some analysts who believe that the value of bitcoin could skyrocket in the coming years due to its growing popularity and usage around the globe. There is always a risk involved with investing in any cryptocurrency, but it may be worth it if you
A word of caution before selling your Bitcoins for cash
First, remember that the value of your Bitcoins could go up, even if the price of Bitcoin Cash does not. So, you may regret selling your bitcoins for cash, especially if you do so at a lower price than the original Bitcoin. Second, never sell your Bitcoins for cash if you can’t prove that you own them in the first place. You may encounter someone who wants to buy your digital currency but who doesn’t believe you actually own them. That’s a scammer, and you should avoid dealing with them at all costs.
Conclusion
You should sell your bitcoins if you think they will decrease in value, or hold onto them if you think they will increase. Selling your bitcoins for cash is a risky move because Bitcoin is a risky investment. The currency has now split into two separate coins, increasing the risk. If you want to read more related article visit here read more.
