How do I sell my cryptocurrency on the BTC Direct website?

Selling cryptocurrency in general

It is important to understand that if you wish to sell your own cryptocurrency, you must have access to your own wallet.

BTC Direct is not a wallet platform, we do not save your cryptocurrency on our platform nor do we create a wallet address to personally store your cryptocurrency.

 

Wallet platform

To (re-)gain access to your wallet including your bought cryptocurrency, please use your recovery phrase. 

A recovery phrase or private key is always provided to you when you create a wallet on a wallet platform. Please note that Exchange platforms may work differently. They might only require a password to your account. 

Look for any article on your wallet platform's website which explains how to import a wallet on their platform by using a recovery phrase or private key.

For example: 

• Trust wallet: Link
• Coinomi: Link
• Exodus: Link

 

1. BTC Direct Account

To be able to sell your cryptocurrency on the BTC Direct platform you will of course first need to have an active BTC Direct account.

If you do not have an active account, please click here to register yourself: Register.

Once registered, log into your account.

 

2. Setup your sell order

When starting from the BTC Direct home page, click on your name in the top right corner of the screenshot.

 

Click on "Buy/Sell" when the dropdown menu appears.

 

On the "Buy/Sell" tab you will now be able to create either a Buy or Sell order.

 

Click on the "Sell" button to start the sell procedure.

 

If you did not already connect an IBAN to your BTC Direct account, you will first be asked to connect your IBAN so the payment can be sent to your bank account.

Click on "Connect my bank account number".

 

3. Connect a bank account

You will now see a maximum of 4 options available to you to connect your bank account.

 

 

The first options will be via a small payment. Once the small payment is received by us, your IBAN information will be verified by us. The small payment will be automatically refunded to your bank account.

 

Tip

• Please note that a small 'Sofort Überweisung' or 'Bank Transfer' payment may take a couple of business days to be received. This depends on the processing speeds of your bank. Even if the small payment was 'redacted' from your bank account we may not have received it yet.

 

The 4th option is to Upload a photo of your bank card on which your full name and full IBAN is visible.

Tip

• Please note that we are not able to accept a photo of a Credit card. If your bank card does not display your IBAN, you will not able to use this option and have to choose for a 'small payment' option.
  
  
• More specific instructions about the IBAN verification procedure can be found in this FAQ article: "How can I verify my IBAN through a banktransfer?"

 

Once you have verified your IBAN you can start your Sell order.

 

4. Create your sell order

Return to the "Buy/Sell" page.

Click on "Sell".

Fill in the order information.

 

Tip

• You may either fill in the amount of cryptocurrency you wish to sell or fill in the Euro amount of cryptocurrency you own and wish to sell.

 

After accepting the Terms of service and starting the Sell order by clicking on "Sell [cryptocurrency]"; you will see the following timer page.

The timer page will give you a 60 minute timer in which you must send the cryptocurrency to the information provided.

You may either scan the QR-code or copy/paste the cryptocurrency address to send the coins to sell them.

 

Tips

• Please make sure to add enough Network fees to make sure the coins arrive within 60 minutes. Especially in busy times on the Blockchain, the network fees may change rapidly.
  To see the current Bitcoin network fees suggested for a fast transaction, click here.
  
  
• Also, send the transaction in one part only. Do not send multiple small transactions for one single sell order. This is to prevent any technical difficulties.

 

More tips and instructions can be found beneath "Order info".

 

Done! You have placed your Sell order.

 

After the 60 minute timer has expired our system will verify how many coins, if any, were received by us.

Only then the payout amount will be shown in your order.

If you are unsure if any cryptocurrency was sent, please take a look at your wallet from which you have sent the coins.