Selling Bitcoin (2024)

FAQs

How much do I get for selling 1 Bitcoin? ›

Right now, 1 Bitcoin is worth about $67,446.93.

Buying and holding Bitcoin as a long-term investment — or, as some crypto enthusiasts call it, HODLing — can be a low-effort way to make money in the long term, as long as its price when you finally sell it is higher than the price at which you bought it.

When you sell your Bitcoin, you'll incur a capital gain or a capital loss based on how the value of your BTC has changed since you originally received it. If the value of your BTC has gone up in value since you originally received it, you'll be required to pay capital gain tax on your profits.

Can I buy and sell Bitcoin instantly? Yes, it only takes a few moments to sell or buy Bitcoin after you connect your funding method.

A $100 investment in Bitcoin could purchase 0.00607 BTC today based on a price of $16,466.14 at the time of writing. If Bitcoin hits the $1 million price target by Wood in 2030, the $100 investment would turn into $6,070. This represents a gain of 5,970% from now until 2030.

After five years, the $50 investment might be worth around $67.20. If the price of Bitcoin were to climb at a rate of 25% each year, the initial investment of $50 might be worth around $129.70.

That investment would be worth $6,859,178,076.22 today based on the same price of $28,122.63 at the time of writing. While investing in Bitcoin today may never be worth billions of dollars in the future, the hypothetical investment illustrates the large increase in value of the leading cryptocurrency over time.

Bitcoin ATMs are a way to get immediate access to cash using your bitcoins. Bitcoin ATMs do not operate like traditional ATMs. In order to make a cash withdrawal and sell your Bitcoin from the ATM, the machine provides a QR code to which you send your Bitcoin. You simply wait a couple of minutes and receive your cash.

Summary: As of 2024, there are about 420 million cryptocurrency users globally. Of these, approximately 1.5 million individuals possess more than 1 Bitcoin, which is just 0.36% of all cryptocurrency users.

Bitcoin is a form of digital currency that uses blockchain technology to support transactions between users on a decentralized network. New Bitcoins are created as part of the mining process, as a reward to people whose computer systems help validate transactions. Buying Bitcoin exposes you to a volatile asset class.

Do you pay taxes on Bitcoin? ›

The IRS treats cryptocurrencies as property for tax purposes, which means: You pay taxes on cryptocurrency if you sell or use your crypto in a transaction, and it is worth more than it was when you purchased it. This is because you trigger capital gains or losses if its market value has changed.

The easiest way to sell your cryptocurrency is on a reputable, regulated exchange like Coinbase, Gemini, or Binance.

Since your local currency is stored within your Coinbase account, all buys and sells occur instantly. Cashing out to your bank account via SEPA transfer generally takes one to two business days. Cashout by wire should complete within one business day.

Open the wallet app and, after importing your cryptocurrency, select the 'sell' option. Choose the amount of cryptocurrency to sell. Confirm the transaction and transfer funds to your linked bank account.