Is mining the easiest and quickest way to amass Bitcoins? Certainly not, because mining is a time-consuming and energy-intensive process and you will have to invest in a specialized and sophisticated mining rig to get favorable returns. Instead, the fastest and easiest way to buy or sell Bitcoins is through platforms like LocalBitcoins or cryptocurrency exchanges.
How to buy or sell your Bitcoins fast:
You will be able to buy Bitcoins and other crypto coins by paying fiat currencies like the USD. To do so, you can visit a reputed platform like the Bitcoin website and select your preferred currency. You can then choose whether to use the USD or any local currency to purchase the Bitcoins. You will have to type in the amount you wish to purchase, insert your wallet address carefully, and then click on “continue” to proceed. The purchase process is finished once you have created your account at the site and provided payment details.
To buy bitcoins, you can also use the wallet app from any device like a smartphone. You simply have to tap the button “buy” and decide whether to buy BTC (Bitcoin) or BCH (Bitcoin Cash). The page will have on-screen instructions for depositing the Bitcoins into your chosen wallet. You may be asked to provide identification details. When this is done, the purchase process can start. The first time is usually longer and subsequent buys are much faster.
If you are buying from a P2P platform you must create an account here, like for instance the local.bitcoin.com. You must then identify sellers who are keen to sell their Bitcoins or you could be keen to start your own buy order. You can choose your seller and open trades with him. The seller will transfer Bitcoins to an escrow account. When you transfer the payment agreed upon through credit cards or bank transfers, the seller must confirm that he has got the money. In that case, the Bitcoins you have bought will get released from this blind escrow account and transferred to your wallet.
For those of you who wish to use a cryptocurrency exchange for quick buying and selling of Bitcoins, you must create your account on such an exchange. You must provide verification details as required. The site will have all instructions needed for buying BTC or BCH. The coins start getting deposited into the wallet that is linked to this exchange’s account. Once you are done buying, you must transfer the coins to your wallet for better security.
To sell Bitcoins, you may use the wallet on your devices and click on the button for selling crypto to cash. Once you have signed up to a third party, you need to furnish your ID verification details and bank details. You must then enter the amount of BTC or BCH you wish to sell.
You can use platforms like local.bitocin.com for selling Bitcoins; here too, you must look for existing buyers who wish to buy BTC or BCH and then open trade with them. Once these buyers have transferred funds to your account, you have to send a confirmation to them. Likewise, on a crypto exchange, you need an account to sell the Bitcoins. You must create an account therefore and submit verification details. Following this, you have to conform to the site guidelines about selling the BTC. When you sell Bitcoins for fiat currency you will be able to get cash into your bank account. If you sell it for another crypto coin, you can send these coins to your wallet.