Best way to cash out Bitcoin?

[TheSmallAssassin]

I bought 1 BTC back in the day (paid about £40 for it). I'm sort of holding out cashing it in until it's enough to buy a camper van , but with my sensible head on I really ought to work out how to actually sell it, if I need to? Any tips on how to do this?

How did you buy it? I’ve got a few quid in crypto but have bought and sold using Coinbase. There are probably lots better/cheaper versions out there though.

Oh God, it was so long ago, I don't remember!

Did you see this?! Hope you find it.

www.theguardian.com/uk-news/2021/jan/14/man-newport-council-50m-helps-find-bitcoins-landfill-james-howells

It's in a wallet, @harsto. Got panicked the other night that my husband wouldn't know how to access it if I fell under a bus. Also talking to another friend who has 2 BTC on a phone he can't access any more!

Remember to pay your Capital Gains Tax!

Yes, have that in mind @smeerf, another thing to work out! I am going to hold out longer, but would like to know, just in case. I did have a prepaid debit card for a bit, and loaded a little bit on there. The leather gloves I bought then really aren't worth what I've paid for them...

I've got a dream thing I'd love to buy that costs around £70k - I've not got any debts left and am pretty comfortable at the mo (🤞), so I'm happy to wait til it hits enough to buy the thing plus pay the capital gains tax (it's likely the only way I'd ever be able to afford it). It's got a long way to fall before I've lost anything! I'm just trying to find out how I would get it out in an emergency, because you never know what is around the corner...

Predictions say £300k in next year or so a possibility with up to tens of millions potential in next decade

I would definitely hold out if I was you.

I use an exchange called Bitstamp. They've never been hacked and they have been very reliable so far. It takes about a day to make a deposit and about a day for withdrawals to hit your bank account.

They are cautious about following all the money laundering rules so it takes a bit of setting up. You have to jump through some hoops to prove your identity and connect your bank account. If you want to use it to be ready for an emergency I would start setting it up now.

@Indoctro What is the source of your predictions? I've never heard £300k (but will be very happy if it hits that)!

[quote HarmonyHedges]@Indoctro What is the source of your predictions? I've never heard £300k (but will be very happy if it hits that)![/quote]
Citi analysts predict the price of Bitcoin at the level of $300,000 at the end of 2021

Bitcoin is an ecological disaster
mining it uses nearly 1% of ALL THE WORLD's electricity
its pure speculation
it has no intrinsic value

Keep hold of it! We had 7 and now have 0.5 (arggghhh!). Will be hanging on to the half in hopes we can pay our mortgage off in 5 years - fingers crossed!