Hi, I have read lot of articles on buying Bitcoins (which certainly have helped) but there are none on selling the same. My questions are:
1) Can I buy Bitcoins with a certain currency in one country and sell them in another currency in another country? This is because I live and earn in Poland but I belong to India.
2) Is the selling of Bitcoins is as easy as buying? I read somewhere that there is a possibility that you don\\\’t find enough buyers when you go out there to sell your Bitcoins and therefore, you have lower the rate of your Bitcoins. Also, is the rate dependent on case to case negotiation basis?
3) Is there any support from exchange companies to sell Bitcoins at standard rate?
4) How are other crypto-currencies (if I understood them right, also called \\\”altcoins\\\”) as compared to Bitcoins? How are they even existing? Can anybody start a new altcoin at his/her own discretion?
Thanks for your answers in advance.
Selling Bitcoins is a similar process as buying. Here is an article for you that directly explains how to sell Bitcoins.You can trade with Bitcoins on exchanges, the currency you can trade with Bitcoins is depending on the exchange you use. On an exchange you are given a price for which your order to sell can be fulfilled, you do not need to worry about finding a buyer as your orders are automatically matched. There is no standard rate for Bitcoin price, each exchange set their own price and fees. Here you can read more about altcoins, as the source code of Bitcoin is open source, anyone can issue cryptocurrency with technical knowledge. Here you can read more about ICOs, initial coin offerings, the process how altcoins are created.
Thanks for your answer Sofia….it helped.
I guess I would have to dive in with a small initial investment to understand the concept more.
I hope it is safe to provide one’s personal information to verify the account to exchanges. I am planning to use Bitbay as it is convenient for me being in Poland.