CoinSpot Cryptocurrency Exchange
- Buy 250+ cryptos
- Range of payment methods
- 0.1% market order fee
- 1% instant buy fee
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
If you've taken the leap and bought some bitcoin, it's equally important that you know how (and when) to cash out and sell. Selling your bitcoin with low fees is the best way to get the most return on your investment, which is why we've done the research of comparing 50+ crypto exchanges to help you find the best match.
This is our quick guide to just one way to buy Bitcoin. Compare some other options in the table below.
So long as you have access to your private keys you can sell your bitcoin at any exchange you'd like. Compare exchanges using deposit methods, fiat currency support and accepted cryptocurrencies to find the best match for your needs.
There are two main options available when selling your BTC holdings:
For many people, the main aim when selling Bitcoin will be to cash out for AUD, so you can find instructions on how to do that below.
However, if you want to trade your BTC for another crypto, we’ve included a step-by-step guide on how to do that as well.
If you want to sell BTC for fiat currency, here's an example of how you can do it:
If you're using CoinSpot, you can click on the "Withdraw AUD" link from your account dashboard to initiate the withdrawal process.
If you want to exchange your bitcoin for another cryptocurrency, here's how you can do it:
If you’re looking to sell a large amount of Bitcoin, such as $50,000 or more, conducting the transaction through an ordinary crypto exchange may not be the best way to go about it, because there may not be sufficient liquidity on a traditional exchange. This can result in slower processing times or “slippage” – which is when a large market sell order eats through the available buy orders, resulting in a price drop.
The transaction limits on these exchanges may also be too low for your needs, so anyone looking to sell a large amount of Bitcoin should consider an over-the-counter (OTC) trade. OTC trades are those that take place away from a conventional, regulated exchange, and they offer a simpler and more cost-effective way to buy and sell large amounts of Bitcoin.
There’s no such thing as a best way to sell Bitcoin for everyone, because what works well for one person might not necessarily be a good fit for the next. Instead, it’s all about working out which option is the right choice for you. You can do this by asking yourself a few important questions:
This should help you decide how you want to sell your Bitcoin, and you can then figure out which platform has all the features you need. When comparing your options, make sure you consider:
There are several other important features to consider, such as where an exchange is regulated and the payment methods accepted by peer-to-peer trading sites, so check out our cryptocurrency exchange guide for more tips on how to choose the right platform.
The step-by-step guides above take you through the process of selling Bitcoin on an exchange. However, this is just one of several options available when you want to cash out your Bitcoin, so let’s take a closer at what other options you have.
Even after you’ve sold your Bitcoin, your transaction hasn’t been fully completed. The final step is to withdraw the proceeds of your sale into either your bank account or your cryptocurrency wallet.
If you’ve sold Bitcoin through a platform that permits AUD withdrawals, check to see what withdrawal methods are supported. Options include:
When choosing your withdrawal method, make sure you consider:
Storing your cryptocurrency on an exchange for the long-term is not recommended. Exchanges control the private keys to these wallets and are also popular targets for hackers, so the safest option is to transfer your crypto into a secure wallet which lets you retain ownership of your private keys. It’s a good idea to set this wallet up well in advance of selling your Bitcoin, and make sure you double-check your wallet address before depositing any funds.
Once again, check whether there are any limits on the amount of crypto you can withdraw per-transaction or in any 24-hour period. You’ll also need to factor any withdrawal fee into the total cost of the transaction.
Unfortunately, there’s no easy answer to this question.
Timing is crucial to maximising the success of any trade – anyone who sold Bitcoin near one of its historical peaks can attest to this fact – but working out the right time to sell can be a tricky task. From crypto regulatory developments and broader economic factors to Bitcoin hype levels and even your own appetite for risk, there are many factors that can affect whether you should or shouldn’t sell your BTC.
Analyse the market carefully to decide whether you want to sell or hold. Our guide to cryptocurrency technical analysis is a useful tool to help you better understand and read the crypto market.
Disclosure: At the time of writing the author holds ADA, ICX, IOTA and XLM.
Staking is one of the most popular ways to earn an income with cryptocurrency – learn how to get started with this guide.
Build both your knowledge and Bitcoin wallet with this simple guide to trading.
Robinhood is set to go public as soon as June. Here's what you need to do to buy in from Australia.
There is no shortage of reasons why Bitcoin to surge past $80,000 to a new all time high, with $1.9 trillion of freshly printed US dollars on the way.
Learn about how TransferMate’s personal product works and what it can do for you.
Learn more about the DOT cryptocurrency in this beginner’s and buyer’s guide.
The world's first physical Bitcoin ETF has launched onto the stock market. Here's how to invest if you're in Australia.
Learn more about the Filecoin cryptocurrency in this beginner’s and buyer’s guide.
Learn more about the Avalanche (AVAX) cryptocurrency in this beginner’s and buyer’s guide.
Shockingly, this Dogecoin frenzy might turn out to be a doomed speculative bubble.
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.