How to Sell Bitcoin Cash - Comparewise

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How to Sell Bitcoin Cash

Are you looking for information on how to sell Bitcoin Cash? For every trader, the aim of investing in cryptocurrency is to make profits. After buying Bitcoin Cash in the dip, it is time to recoup your capital gains. However, how do you turn your Bitcoin Cash (BCH) into cash?

When learning how to sell Bitcoin Cash one must consider the features and fees associated with the exchanges and wallets available. Some of the best exchanges include Bitbuy, CoinSmart, Coinberry, Newton, and VirgoCX. While the list of the best wallets comprises hardware wallets such as the Ledger Nano series and Trezor series wallets. Other notable wallets include Keepkey, Coinbase, Binance (Trust Wallet), and Zengo.

Bitcoin-Vs-Bitcoin-Cash-Comparewise

Pros and Cons of Selling Bitcoin Cash

There are various reasons why an investor can sell Bitcoin Cash. Here are some of the pros and cons of doing so;

Pros of Selling BCH

To Diversify One’s Portfolio

The crypto market grows each day, and more digital assets are available. As an investor, you want to spread your investments over various assets. This is because of volatility and the hope that one or more assets will appreciate.

Moreover, you can sell or trade your Bitcoin Cash for other crypto coins. This action allows you to save cash when investing or using your profits instead of dishing out money from your pocket.

To Convert BCH to Real Money

As more people continue to embrace the crypto revolution, many individuals have started taking payments in crypto. And since this digital currency is yet to be embraced as actual money, you might want to sell your Bitcoin Cash.

The sale will allow you to convert your hard-earned pay to cash you can use in the real world. Moreover, not many vendors or shops yet accept crypto payment, limiting your options.

To Reap Your Profits

As an investor, your aim when investing in a particular crypto asset is that it will appreciate. And if luck is on your side, you might get to double or triple your initial investment.

If there comes a time of uncertainty or you have achieved your long-term investment goal, it is time to sell your BCH. You can then use your profits to look for other assets or make a fortune.

Cons of Selling BCH

Volatility

The crypto market is highly volatile, so prices are bound to rise or plummet. Many investors panic-sell their crypto assets when they see a price drop.

This action, however, leaves many in regret when the price bounces back to even higher levels. So before selling your BCH, you might want to hold on to it for a while.

For example, according to Ollie Leech of Coin desk, “imagine paying a $3 cup of coffee with your bitcoin only to wake up the next day, and the bitcoin you paid is worth $30.” This can be the same situation when you sell your Bitcoin Cash.

Bitcoin-Cash-Price-Analysis-How To Sell Bitcoin Cash-Comparewise

How Much Does It Cost to Sell Bitcoin Cash?

When selling your Bitcoin Cash, your cost varies with your chosen channel. Typically, when you research how to sell Bitcoin Cash, you will meet answers such as;

  • Crypto exchange
  • Peer to Peer (P2P) trading

When you choose to use a crypto exchange or third-party broker, note that there will be specific fees you will incur. These fees range from spreads, transactions, or trading costs. Moreover, these fees depend on the amount you are transacting.

Another point to note is that this is not the fastest method you can use to sell BCH. Ideally, you will wait a few days before the money hits your bank account.

If looking for a more anonymous and easy way to sell your Bitcoin Cash, go for P2P. P2P involves selling your BCH directly to another party without an intermediary.

Through this method, you cut extra costs incurred and get money fast. However, it is risky since its transparency depends on the parties involved.

How to Sell Bitcoin Cash on an App

When looking to sell your crypto on the go, a Bitcoin Cash app is the right place. There are various apps available to sell your BCH, and they are as follows;

Bitbuy

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1.  Bitbuy

Operating out of Toronto, Bitbuy is a money service business (MSB) registered with FINTRAC. You can sell your Bitcoin Cash using their mobile app relatively quickly.

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All you have to do is navigate to the accounts section in the app’s bottom right-hand corner. After that, locate and select Bitcoin Cash and click sell.

You will get prompted to enter the amount you wish to sell, after which you shall see the number of Canadian dollars to receive. After confirming this, click on sell, and you have successfully sold your BCH. Also, note that you must cover the set express trade fees, averaging 0.20%.

CoinSmart

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2.  CoinSmart

This exchange, launched in 2018, has proved to be a rapidly growing crypto exchange. CoinSmart’s SmartTrade feature allows you to sell Bitcoin Cash for fees as low as 0.2%.

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All you have to do is login into the app and select crypto from the various options under cash balance. These options are on the top of the mobile app: navigate to the BCH option.

Select the option and click the “sell” button highlighted in red. After that, enter the amount you need to sell and confirm the transaction.

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3.  Coinberry

Based in Toronto, Canada, Coinberry is an exchange you can use when navigating the how to sell Bitcoin Cash issue. The platform is compliant with PIPEDA and registered with FINTRAC as an MSB.

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Simply select the “buy/sell” button on the top and select Bitcoin Cash as your preferred coin on the mobile app. After that, enter the amount of Bitcoin Cash you wish to sell.

You will get a confirmation prompt showing the amount entered and the expected money (CAD) based on the current market trading price alongside the total trading fee. You can then confirm the transaction by clicking on the place sell order option.

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4.  Newton

Newton is another app making it to our list for its low fees. Moreover, it is PIPEDA-compliant and a registered money service business with FINTRAC.

Note that Newton is not a crypto exchange but a broker. This implies that the platform buys and sells BCH to its users by capitalizing on the spread fees.

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You can sell your Bitcoin Cash relatively quickly, as you must select the trade option. Swap the default “buy crypto” button using CAD to buy CAD using crypto. Here you can select Bitcoin Cash.

You can then put how much BCH you intend to use or the amount of CAD you want to get from the transaction. Click on the “review trade” button at the bottom of the page, and you will have successfully traded your BCH for cash.

5.  VirgoCX

Founded in 2018, VirgoCX is a Toronto-based crypto exchange boasting zero trading fees. FINTRAC regulates it, so you can rest assured of full law compliance.

Virgocx Crypto App - Comparewise

To sell your BCH, simply go to advanced trade on the dashboard. Click on the drop-down menu and select Bitcoin Cash in the top left-hand corner.

Afterward, go to the “sell” prompt and enter the amount of BCH you wish to trade. This will show you how much CAD you can expect to receive from the entered BCH amount. You can proceed to click the “sell” button, and a success pop-up will appear.

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6.  Shakepay

Founded in 2015, Shakepay is a crypto broker operating out of Montreal, Canada. When selling bitcoin through the app, you sell it to them but not other users.

Shakepay Crypto Exchange App - Comparewise

The “sell” button gets highlighted using two arrows on the bottom of the app dashboard. You will get a buy and sell page to select the “from” button. This prompts you to select the crypto you intend to trade, so select BCH.

On the “To” button, you can select CAD and enter the amount of BCH you want to trade. Confirm your transaction details and click on the “sell” button to complete the trade.

Netcoins

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7.  Netcoins

Launched in 2014 and operating in Vancouver, Netcoins is an option to check out when researching how to sell Bitcoin Cash. It is regulated by FINTRAC and operates under its parent firm, BIGG Digital Assets, a publicly-traded company.

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Netcoins has an intuitive dashboard allowing you to sell your Bitcoin Cash quickly. Select the buy/sell tab on the left-hand side of the dashboard.

Click on the “coins” button to get a drop-down menu and scroll down to BCH, whereby you have to click on it. At this point, click on the “I would like to” button and select sell.

Enter the amount you want to sell, or choose max to trade the total BCH amount you have. Confirm your transaction by hitting the “preview” button and completing your sale.

8.  NDAX.io

NDAX.io, founded in 2018, is a Calgary-based crypto platform making out how to sell Bitcoin Cash lists. The Financial Transactions and Reports and Analysis Center of Canada (FINTRAC) regulates this platform as an MSB.

Ndax.io Crypto Exchange Platform - Comparewise

The process of selling BCH in NDAX.io is relatively straightforward, as you only have to select the “trade” button on the dashboard. Select the coin you want to trade, in our case BCH, and get a buy and sell pop-up.

Click on the “sell” button and enter the amount of BCH you intend to sell. You will get a mini page on the screen showing the market price, order total, fees, and the received amount. Complete the transaction by selecting the “place sell order” button.

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9.  Crypto.com

Crypto.com is an exchange platform launched in 2016 in Hong Kong and boasts over 10 million users from over 90 countries. The trading fee depends on your monthly trading volume and usually averages 0.40% to 0.15%.

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Selling bitcoins on the app is relatively straightforward. All you have to do is tap on the “trade” button and select sell. Tap on the BCH selection and select the fiat wallet option.

On this fiat wallet window, key in the BCH amount you wish to sell. A pop-up window lasting 15 seconds will show you the transaction details. After the period has elapsed, you have successfully sold your BCH.

10.  KuCoin

Launched in 2017 in Hong Kong, KuCoin is your best bet when needing more than the basic crypto trading features. The trading fees on this platform vary with a trade volume tier, and you can get huge discounts.

Kucoin Crypto Exchange - Comparewise

To sell Bitcoin Cash on the platform using P2P, click on the “buy/sell” button. Tap on BCH, input the amount you wish to sell, and click on the sell now. Once a buyer is interested, they will reach out, and you can complete the transaction.

To sell Bitcoin Cash on the platform directly, click on the trading account tab located on the wallet icon on the top. Scroll up to the BCH option and hit trade. You will be asked to select a trading pair to convert the BCH.

After that, you can either enter the amount you wish to trade or select the “25%, 50%, 75%, or 100%” boxes available. Complete the transaction by clicking on the red button.

Gemini
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11.  Gemini

Gemini pops up in our list of how to sell Bitcoin Cash user-friendliness. Selling Bitcoin Cash on this platform is relatively easy and quick.

Click on the portfolio tab in the bottom corner and tap on BCH, our crypto asset of choice. On the pop-up window, select trade and then tap on sell.

Gemini Crypto App - Comparewise

After that, you will get directed to a window where you can put the amount of BCH you intend to trade. You either key in manually or use the suggested figures available.

After that, click on the “review” button to confirm your transaction details. After confirming your transaction, swipe to confirm the trade.

Coinbase
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12.  Coinbase

Launched in 2012, Coinbase makes our list of how to sell Bitcoin Cash for its simplicity. However, note the platform has two trading platforms: pro and regular.

Selling your Bitcoin Cash through the Coinbase app is relatively easy since the “portfolio” button is well put. It is located at the bottom, and upon clicking on it, you will see the list of crypto coins you own.

Coinbase1 - Comparewise

In your case, you want to sell BCH, so click on the BCH option. The trade option will pop up on the button, click on it, and tap on sell.

You can manually enter the amount you intend to sell or select max to sell your whole crypto holding. Click on the preview sell option at the bottom to confirm your transaction details, and then tap on the sell now to complete the sale.

13.  Binance

Another app making our list of how to sell Bitcoin Cash is Binance for its low trading fees. The sale process is relatively straightforward, and you can do it in less than five minutes.

On the Binance app, head to the bottom and select the wallet icon to open your portfolio. The window shows your crypto balances, so select Bitcoin cash. Click on the two-arrows icon in the top right corner to get a buy and sell pop-up at the bottom.

Select “sell” and key in the amount you want to sell manually or select from the “25%, 50% or sell all” options. Hit the “preview sell” button, confirm your transaction details and tap on the “confirm sell” button.

14.  Coinmama

Another easy-to-use app when selling your Bitcoin Cash is Coinmama. All that is required of you is to have an account and ensure you are logged in to complete the sale.

The “buy/sell” button is on the dashboard’s left-hand side. Enter the BCH amount you intend to sell or choose to enter the amount in cash you intend to receive, and the platform will do the calculation.

Enter your bank details and tick on the “I am the owner of these coins” button. Once you hit the “next” button, you will get a prompt to scan the platform’s wallet QR code or choose to enter the address manually. Your payment will get processed in a few days, and you shall receive the payout in your bank account.

15.  CEX.io

Another crypto app you can use when looking for how to sell Bitcoin Cash is CEX.io. The process is relatively easy and quick.

Cex.io Crypto Mobile App - Comparewise

Go to the buy/sell option and tap on sell. Key in the amount of BCH you intend to sell and choose where you want the platform to send your proceeds. CEX.io gives you two options, a credit/debit card or the CEX.io balance.

Confirm your transaction details and hit sell. Your credit/debit card or platform’s balance will get topped up within no time.

How to Sell Bitcoin Cash with a Wallet

1.  Ledger Nano X and Ledger Nano S

All you need is to have the BCH app and exchange app installed on the device. Select sell and enter the amount you wish to trade. Confirm your transaction details and get the amount transferred to your bank within no time.

2.  Trezor Mode T, Trezor, and Trezor Model One

Simply open the Trezor suite, pair and unlock your Trezor device, and navigate the accounts page. Click on the green trade icon, enter the desired amount you wish to sell, and select the region from which you want to get offers. Ideally, choose local providers, and click on the “continue” button to check out your trade.

3.  KeepKey

KeepKey is currently known as ShapeShift after the firm bought it in 2017. On the dashboard, select the buy/sell option. Then select the provider of choice, click sell, enter BCH, and enter the address to which you intend to transfer the asset. Confirm your transaction details and complete the transaction.

4.  Coinbase Wallet

On the Coinbase wallet, tap on the “trade” button, select BCH and click on the buy/sell option. Key in the amount of Bitcoin Cash you intend to trade and leave some for the trading costs. Cross-check the transaction details and follow the screen prompts to complete the transaction.

5. Trust Wallet

You cannot sell BCH directly from the Trust wallet; instead, you must transfer it to Binance first. Enter the amount you wish to sell and select the slippage rate to get a pop-up prompting you to enter the destination address. After receiving the crypto in your Binance account, you can proceed with the sale of your BCH.

6.  Zengo

Zengo allows you to sell your BCH efficiently by simply tapping on the Actions screen and selecting sell. Enter your preferred fiat currency and the amount you wish to sell, and a MoonPay screen will pop up. Go back to the wallet, complete your trade, and wait for a few hours to two days for MoonPay to process your payout.

Bitcoin-Cash-Bch-Price-Prediction-Comparewise-1

How to Sell Bitcoin Cash: The Bottom Line

Investing in Bitcoin Cash or other crypto assets involves buying and selling as a crypto investor. We compiled this guide to show you how to sell Bitcoin Cash quickly, whether a beginner, intermediate or veteran investor. We have looked at the various notable Canadian exchanges and international crypto platforms you can use. It is now up to you to make an informed decision. Thanks for checking out how to sell Bitcoin Cash.

You might also like…

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  2. How to Sell Bitcoin
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FAQs about How to Sell Bitcoin Cash

Is it a challenge to sell BCH?

No, Bitcoin Cash is a branch of bitcoin, and it has recently risen in popularity. Due to the high trading volume, you will not have a challenge exchanging your BCH for cash.

How do I exchange Bitcoin Cash for cash?

There are various channels you can use to sell your Bitcoin Cash. They include a P2P platform, crypto exchange, and a third-party broker. However, note that each channel has unique costs affecting the final amount received.

Can Bitcoin Cash be exchanged with Fiat?

Yes, Bitcoin Cash is exchangeable with fiat currencies. However, the number of trading pairs varies with the chosen crypto exchange, so be on the lookout.

Should I sell my Bitcoin Cash now?

You can sell your Bitcoin Cash for various reasons, either personal or investment. However, note that the market is highly volatile, and the prices can rise suddenly, so make an informed decision.

What is preventing Bitcoin Cash from exploding like Bitcoin?

Various factors are holding back Bitcoin Cash from exploding. They include bitcoins’ dominance, competition from other coins, low adoption, and mining challenges.

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