How To Sell Bitcoin in the UK

30th October 2020

Whether you're trading for money or pleasure, buying and selling Bitcoin can be a profitable endeavour. Many traditional traders have moved over and started investing in the digital money space, as knowing how to play the crypto industry's volatility can be rather lucrative. Who said volatility was a bad thing? Whatever your trade intentions are, let's cover how to sell Bitcoin UK with the Tap Global service. You can expect minimal fees and the best price available on the market allowing you to trade and spend your digital money with ease.

How To Sell Bitcoin: What Are My Options?

There are three main options available on the market to use when looking into how to sell Bitcoin UK. You can either use a peer to peer crypto exchange, a Bitcoin ATM, or a cryptocurrency exchange platform. We'll explore these options below:

  • Peer To Peer Crypto Exchange

P2P exchanges allow users to trade with each other, with no middleman in between. While this can sometimes lead to better prices on the market, there is always a risk with security as there are no KYC formalities.

  • Bitcoin ATM

Bitcoin ATMs exist around the world and provide an opportunity for anyone to buy and sell the cryptocurrency. Some ATMs only offer Buy services, so be sure to check that the one in your area allows users to sell Bitcoin UK. Also be sure to check the fees associated with the ATM, as these are generally higher than exchanges.

  • Cryptocurrency Exchange

A cryptocurrency exchange allows users to buy and sell cryptocurrencies through a secure platform. Be sure to check that the exchange has a good reputation and check its fee structure before engaging in the platform. You will likely need to complete a KYC verification in order to trade on cryptocurrency exchanges.

Why Use Tap Global?

Tap provides an all in one solution for your cryptocurrency needs, from buying, selling, trading and even spending cryptocurrencies Tap has you covered. With several top digital currencies on offer, you can go from cash to crypto and back again in no time at all. The platform also utilized smart trade technology which scans several top exchanges and order books around the world in order to find you the best price available on the market.

Tap currently supports Bitcoin, Ethereum and Litecoin, as well as GBP and Euros, and allows users to trade or engage in investing as they please. Enter the convenient and efficient world of Tap and you'll never look back again.

Before you follow this comprehensive guide you'll need to have downloaded the Tap app (from the Apple Store or Google Play Store), created an account, and completed your KYC. For any assistance here, check out our helpful section covering everything you need to know about using the Tap app, with plenty of handy step-by-step guides if you'd like the extra assistance.

Step 1: Access Trades

In order to sell Bitcoin for GBP, you will need to log into the Tap app. From the home screen of the app select the menu icon (three horizontal lines) in the bottom right-hand corner. You will be directed to the Trades page, from where you can select Sell/Exchange (as pictured below). This option also allows users to sell or trade any cryptocurrency supported by the app, including Ethereum.

In order to move forward with this selling digital money for cash trade, you will need to have Bitcoin in your Tap wallet already. You can easily buy Bitcoin or transfer Bitcoin to your Tap wallet by selecting the Load option on the homepage (which allows you to conduct deposit trades).

The process is simple and takes only a few minutes. Once the funds have been deposited, you will be able to see this indicated under the Assets heading and the Crypto wallet option. When they're there, head to step 2.

Step 2:

From the Sell Crypto page, select the Bitcoin option. You will be directed to the Sell Bitcoin page from where you can select the Pound Sterling option as a payment method in the currency space. Enter the amount of Bitcoin you would like to sell on the platform and check the amount that will be paid out.

Note that the minimum amount of Bitcoin that you can sell through the Tap app is 0.002 BTC. You will also need to enter an amount of Bitcoin that you currently have in your wallet. When you're ready, select Confirm Trade.

Step 3:

In order to confirm the sell order on the Tap exchange, you will need to verify your personal information, as per regulatory rules surrounding all crypto exchanges. Once you have confirmed this information your transaction will be processed.

Step 4:

When the transaction has been executed you will be notified via email and the GBP will be deposited into your fiat GPB wallet. To access this, head back to the home page and look under Assets, and Cash. Once the funds have cleared you can either withdraw them to your GBP bank account or use the funds to buy other cryptocurrencies on the platform.

Buy, Sell, and Spend Crypto With Tap

Now that you know how to sell Bitcoin in the UK you can do (almost) anything! Congratulations on successfully tapping into the future with the Tap app and the future of money. Buying, selling and spending crypto is made easy with Tap's revolutionary app, smart trade technology, and the soon to be released Tap Prepaid Crypto Card. You can sign up for one (for free) today and get ready to spend your crypto on the high street.

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