Are you now holding Bitcoin and looking for ways to sell it for profit or convert it to other assets? This guide will walk you through 3 straightforward and secure ways to sell Bitcoin in Vietnam, ensuring you get the most out of your investment.
Bitcoin ATMs: A solution for selling small amounts of bitcoin and withdrawing cash
As the name suggests, Bitcoin ATMs operate similarly to traditional automated teller machines (ATMs). In this transaction method, users simply scan a QR code on the ATM to send Bitcoin to the service provider’s address. Once the transaction is complete, you will receive VND cash on the spot.
Advantages
- Convenience: When selling Bitcoin at an ATM, you will receive VND immediately.
- Security: Transactions at Bitcoin ATMs are conducted directly between the user and the ATM. You do not need to declare your identity or any personal information. As a result, this method helps you protect your identity completely.
- Flexibility: No need for any prior arrangements; you can just walk up to the machines whenever it suits your schedule.
Disadvantages
- High transaction fees: Transaction fees when selling Bitcoin at BTMs are generally higher than other methods.
- Limited quantity: Bitcoin ATMs only allow transactions of small quantities of Bitcoin (up to 35m VND per machine). Therefore, if you need to sell Bitcoin in large quantities and receive cash immediately, this is not the right choice.
Selling Bitcoin for cash at BTM
If you need to sell Bitcoin quickly and receive cash on the spot, please follow the steps shown in the following video:
⇒ Check out the nearest Bitcoin ATM locations here.
Trading on an exchange: Quickly selling Bitcoin and withdrawing money to a bank card
Advantages
- High liquidity: Bitcoin exchanges offer high liquidity, making it easy for you to sell Bitcoin and quickly convert it to VND.
- Low fees: The fees for selling Bitcoin through an exchange are typically lower than those for Bitcoin ATMs.
- Receive payment by multiple methods: You can withdraw VND to any valid domestic bank account in Vietnam or in cash via one of our various BitcoinVN Cash Outlets across the country.
Disadvantages
- Bitcoin transactions through exchanges can take a few minutes or hours, depending on the transaction volume.
Selling Bitcoin for VND: A Step-by-Step Guide on BitcoinVN
Seeking a secure and reliable platform to convert your Bitcoin to VND via bank transfer? Look no further than BitcoinVN, a reputable cryptocurrency exchange with over a decade of experience.
To sell Bitcoin on BitcoinVN, follow these simple steps:
- Step 1: Visit BitcoinVN exchange.
- Step 2: Under “You Send” search and select BTC.
- Step 3: Under “You Receive” select VND (Bank transfer). You can also sell crypto for Cash in BitcoinVN, read more detail here.
- Step 4: Enter the amount of Bitcoin you want to sell and fill in the required information. Review the transaction details and click “Exchange” to process the transaction.
For any inquiries or issues during the transaction process, feel free to contact BitcoinVN’s support team at support@bitcoinvn.io.
OTC Trading: Selling large amounts of Bitcoin
OTC (Over-the-Counter) trading involves direct transactions between buyers and sellers, bypassing the exchange platform. It’s an efficient method for selling Bitcoin with high liquidity.
Advantages
- Competitive Pricing: OTC desks often offer better protection against slippage compared to exchanges, especially for large transactions.
- No Bitcoin Quantity Limits: OTC facilitates trades ranging from $10,000 to (almost) unlimited amounts. Whether you want to sell $50,000 or $10 million worth of Bitcoin, BitcoinVN can accommodate your needs.
- Enhanced Security: OTC transactions are conducted on a 1:1 basis, preserving your privacy.
- Multiple Payment Options: OTC desks typically support various payment methods, including bank transfers and cash payments.
Disadvantages
- Higher Fees: OTC Bitcoin sales generally incur higher fees than exchange transactions, especially for smaller transaction volumes..
How to Sell Bitcoin via OTC
To sell Bitcoin through an OTC desk, visit https://otc.bitcoinvn.io/ for consultation and scheduling.
Why should you sell Bitcoin at BitcoinVN?
BitcoinVN is the first cryptocurrency exchange in Vietnam. With over 10 years of experience in the cryptocurrency field, undergoing a long journey of development, and implementing a series of customer protection policies, BitcoinVN is increasingly solidifying its reputation within the user community.
- We operate a full range of Bitcoin ATMs, trading platforms, and OTC desks, allowing you to sell bitcoin in quantities ranging from small to large.
- Trading fees are competitive in the market.
- High security measures are in place.
- We accept buying and selling bitcoin in very small quantities.
- The platform always encourages you to withdraw funds to your wallet immediately and never asks you to deposit funds on the platform. We understand that only when money (and private keys) are in your pocket, it truly becomes your assets.
Additionally, BitcoinVN is verified by Trustpilot. If you’re looking to sell bitcoin but are unsure about BitcoinVN’s reputation, you can check out user reviews of the platform here.
Frequently asked questions (FAQs) about selling Bitcoin in Vietnam
What is the minimum amount of Bitcoin I can sell?
The minimum amount of Bitcoin you can sell on BitcoinVN is ~ 0.0025 BTC.
What trading method should I choose if I want to sell Bitcoin worth over $10,000?
For selling Bitcoin transactions exceeding $10,000, the OTC trading method is recommended.
What are the fees for selling Bitcoin on BitcoinVN?
BitcoinVN offers low fees for selling Bitcoin. The fees typically range from 25,000 VND + 0.2% based on the withdrawal amount (for domestic banks) to 200,000 – 500,000 VND + 0.5% based on the withdrawal amount (for cash withdrawals).
How long does it take for Bitcoin transactions and cash withdrawals to be processed?
Bank transfer processing typically are usually settled within 1 hour during business hours. However, on weekends, and national holidays, the processing time may extend to up to 12 hours.
Conclusion
We hope that BitcoinVN News’s information has helped you understand how to sell Bitcoin safely, efficiently, and at low cost.
If you need to sell Bitcoin quickly and easily withdraw funds, please visit BitcoinVN.io to start trading today!
