How to Sell Bitcoin in South Africa for Cash?
There’s a growing number in people who buy and sell Bitcoin in South Africa, and that’s amazing. Bitcoin and other cryptocurrencies are booming in popularity in South Africa. They also have been for several years already. The only question is, how can you sell Bitcoin for cash to make use of investment profits?
At Easy Crypto South Africa, we make it easy for you to buy Bitcoin instantly in South Africa by using credit and debit cards as well as EFT’s. Soon, we will also make it possible to sell Bitcoin. In the meantime, though, we’ve created a list of three other top ways to cash out crypto profits.
Here are some options on how to sell your Bitcoin for cash here, in South Africa:
- Sell your Bitcoin by cashing out profits peer to peer
One of the easiest ways to sell Bitcoin in South Africa is to sell coins peer to peer. However, when selling Bitcoin this way, it is important to remember that doing so is high-risk.
To sell Bitcoin peer to peer, it is necessary to find someone with an interest in purchasing coins in your local area. This can be done using online forums or message boards.
The next step is to arrange for someone looking to buy Bitcoin to pay via bank transfer or physical cash. It is also advisable to always conduct transactions via a trustworthy escrow agent.
Using an escrow service prevents people who buy Bitcoin in South Africa from being able to later reverse payments with banks. Selling Bitcoin using an escrow service helps protect your physical safety.
Using an escrow service will incur fees. However, all anyone looking to sell Bitcoin for cash needs to do is raise their selling price to counter these.
- Sell your Bitcoin for cash by using Skrill
Selling your Bitcoin for cash by peer to peer is always high-risk. The good news, though, is that there are safer ways to sell Bitcoin in South Africa.
One way to easily cash out crypto profits is to do so via prepaid credit cards like those made available by Skrill and Neteller. This is thanks to the fact that both Skrill and Neteller allow users to deposit up to $500 in Bitcoin every 24-hours.
After depositing Bitcoin to Skrill or Neteller, funds can be withdrawn as cash from an ATM, just like you might withdraw cash from your bank.
- Sell your Bitcoin for cash by using Revolut
In South Africa, Skrill and Neteller have been popular for several years already. However, newer prepaid credit card Revolut also allows users to fund cards with Bitcoin.
All that is necessary to remember before using Skrill, Neteller, or Revolut, is that users must verify their identity. Failing to do so might result in accounts being frozen to prevent fraud and money laundering.
How to transfer Bitcoin to cash at Easy Crypto
Later this year, Easy Crypto will roll-out BTC to fiat cash exchanges. In doing so, we will make it possible to sell Bitcoin instantly for South African rand 100% safely. Here some brief explanation of how it is going to work:
- All sell orders will be confirmed quickly, with Easy Crypto depositing ZAR funds into user bank accounts within 24-hours.
- Unlike peer-to-peer exchanges, all transactions will be final. This will make it possible to sell Bitcoin 100% safely in South Africa.
- Easy Crypto is already the leading place to both buy and sell Bitcoin in Australia and New Zealand.
When can I sell Bitcoin at Easy Crypto South Africa?
Selling Bitcoin for cash peer to peer isn’t ideal. Neither is loading Bitcoin onto cards like Skrill. This is because many charge high fees for top-ups and withdrawals.
Thankfully, Easy Crypto will soon allow our South African customers to sell Bitcoin for cash on our exchange. In the process, we’ll help you retain more investment profits, as well as sell 100% safely. This being the case, make sure to keep following us on Facebook and Twitter for more details.
There’s a good reason why it is worth to wait for Easy Crypto’s selling Bitcoin feature. It is because Easy Crypto is the safest and easiest place to buy Bitcoin in South Africa. Don’t just take our word for that though, read our reviews too on Trustpilot and sign up an account on our website today. Also, feel free to check our Learn-page or reach out to Easy Crypto support team if you need any assistance and information 🙂