Overview of the two main options for selling bitcoin cash

Your two main options for selling bitcoin cash into local currency are:

1. Using an exchange service

   An exchange service is a regulated business that interacts with the traditional banking system. An exchange service may take the form of a simple website with limited crypto asset exchange functionality, a digital wallet with banking connections, or a full-service cryptocurrency exchange with order book, market makers, etc.

2. Selling peer-to-peer

   When you sell peer-to-peer, you can bypass the traditional banking system to a certain extent by, for example, taking payment in cash, using a payment app like PayPal, or settling the transaction with goods or services. There are a number of platforms that act as a matchmaking service, helping sellers find buyers and vice versa. Buyers and sellers then negotiate trades on a peer-to-peer basis.

Pros and cons for each option

Here's a rundown of the pros and cons for each option:

Selling bitcoin cash using an exchange service

Exchange services can be divided into two groups: 1) simple exchange, and 2) full-service exchange.

1. Simple exchange services

(eg. the Bitcoin.com Wallet, the Bitcoin.com Sell website)

Advantages

• Fast, easy, and convenient
• Guaranteed at or close-to market rates for sells
• Can sell any amount
• Non-custodial (you hold your Bitcoin Cash until the moment you sell it)

Disadvantages

• Requires identity verification
• Not available in all regions
• Payments made to bank accounts only

2. Full-service cryptocurrency exchanges

(eg. the Bitcoin.com Exchange)

Advantages

• Can set "limit" sells, thereby guaranteeing your specified rate
• Can sell any amount

Disadvantages

• Requires identity verification
• Not available in all regions
• Payments made to bank accounts only
• Relatively difficult to use (ie. setting sell orders, understanding order books)
• Custodial (the exchange holds your bitcoin cash before you can sell it, meaning you're exposed to counterparty risk while waiting to sell)

Selling bitcoin cash peer-to-peer

(eg. to your friend or using Local.Bitcoin.com)

Advantages

• For small amounts, no identity verification is required
• Any payment method is possible (including cash, payment app, barter, services, etc.)
• Non-custodial (you hold your Bitcoin Cash until the moment you sell it)

Disadvantages

• Less convenient (you must manually create and negotiate sell orders)
• Generally only legal to sell small amounts

Selling bitcoin cash using an exchange service

Bitcoin.com's recommended options for selling bitcoin cash using an exchange service are:

1. Selling bitcoin cash with the Bitcoin.com Wallet.
2. Selling bitcoin cash on the Bitcoin.com website.
3. Selling bitcoin cash on a centralized cryptocurrency exchange.

1. Selling bitcoin cash with the Bitcoin.com Wallet

With this method, if you're in a supported region, you can sell any amount of bitcoin cash (BCH) in your Wallet directly to cash. The cash will then be deposited in your bank account. Here's how it works:

1. On the app's home screen, tap the "SELL" button.
2. If you haven't done so already, follow the instructions to connect your bank account.
3. Select the amount you'd like to sell (You can input the amount in either local currency terms or in bitcoin cash (BCH) terms).
4. Confirm the transaction.

Note: Once you've sold, it typically takes between 1-3 working days to receive the funds in your bank account.

2. Selling bitcoin cash on the Bitcoin.com website

With this method, if you're in a supported region, you can send the bitcoin cash (BCH) you'd like to sell to a specified Bitcoin Cash address. After the sale is processed, you'll receive local currency in your bank account. Here's how it works:

1. Visit our official Sell Bitcoin page.

2. Select bitcoin cash (BCH).

3. Choose the currency you'd like to receive, and enter the amount (either in local currency terms or bitcoin cash terms).

4. Carefully review the order, then add your wallet address and click Continue.*

   *The wallet address you provide will be used as the return address in the (very unlikely) event the transaction doesn't go through.

5. Complete the sale process by entering your bank details and sending your bitcoin cash to the address provided.

Note: Once you've sold. it typically takes between 1-3 working days to receive the funds in your bank account.

3. Selling bitcoin cash on a centralized cryptocurrency exchange

With this method, you'll need to create an account, verify your identity, and connect your bank account. Once you've sold your bitcoin cash into local currency, you can withdraw that currency to your bank account. The typical flow is as follows:

1. Visit a cryptocurrency exchange like the Bitcoin.com Exchange or choose from this list of top exchanges.
2. Create an account and verify your identity as required.
3. Follow the website’s instructions to sell your bitcoin cash (BCH) or other crypto-asset into the currency of your choice.
4. Withdraw the funds to your bank account.

Note that each centralized cryptocurrency exchange can only provide its services to people in specified regions. Here's a list of countries excluded from the Bitcoin.com Exchange service.

Selling bitcoin cash on our peer-to-peer trading platform

Bitcoin.com Local is a simple, transparent, and private platform to buy and sell Bitcoin Cash. Like other P2P marketplaces, Bitcoin.com Local is an introductory service that helps people interested in trading bitcoin cash to find each other. People can use Bitcoin.com Local to create advertisements where they offer to buy or sell bitcoin cash. Other users reply to these advertisements and the two can agree to meet to trade BCH for anything they want - or complete the trade online.

With this method, it's possible to remain partially anonymous, but you'll need to take into account local regulations.

Here's how it works:

1. Visit Local.Bitcoin.com and create an account.
2. Browse the listings to find an existing buyer looking to purchase bitcoin cash (BCH), or create a new sell listing yourself.
3. Negotiate a trade with your chosen buyer and send your BCH to the blind escrow account. This is a decentralized escrow mechanism that exists on the Bitcoin Cash distributed network, meaning Local.Bitcoin.com never touches the BCH.
4. Once the buyer has sent your payment via the agreed payment method, confirm you’ve received the funds.
5. The BCH you’ve sold will then automatically be released from the blind escrow and sent to the buyer’s crypto-wallet.