Are you a new Bitcoin investor? If so, there are many people who have purchased Bitcoin for the first time and are beginning to consider how they might sell it. One decision you will have to make along the way is regarding the type of payment you will accept in return for your Bitcoin.
This article will provide a good summary of everything you need to know if you are interested in learning about payment method options to accept when you sell Bitcoin in Turkey. Due to this, the two main topics of discussion today are the means of payment and the methods for receiving cash when selling Bitcoin in Turkey.
Payment Method Options When You Sell Bitcoin in Turkey
When you sell Bitcoin in Turkey, you can choose between two different payment methods to receive your money. Let’s explore them in more detail.
Fiat money: Accepting fiat money is one of the ways to get paid when you sell Bitcoin in Turkey. There are two choices available. Accepting payment in US dollars is the first option, and accepting Turkish lira is the second. You have these two choices if you use a broker, a Bitcoin ATM, or a centralized, decentralized, or hybrid exchange. However, at a physical Bitcoin exchange office in Turkey like NakitCoins, the US dollar is the only form of payment for selling Bitcoin.
An altcoin: Any alternative digital currency to Bitcoin is called an altcoin. When you sell Bitcoin in Turkey, you can also receive payment using this method. In light of this, whenever you are on an exchange or broker’s website, you select a different coin for payment after going through the process to sell BTC. An example of an altcoin is Ethereum.
How to Get Paid When You Sell Bitcoin in Turkey
This section discusses the ways you can receive money after selling Bitcoin in Turkey. Let’s investigate them.
Cash in hand: When you sell Bitcoin in Turkey, you can get paid in cash in hand. This entails physically meeting the person or business that is purchasing Bitcoin from you. The seller waits for the buyer to confirm the transaction’s success after transferring Bitcoin from the seller’s wallet to the buyer’s wallet. Following confirmation, the buyer pays the seller in cash in hand. NakitCoins is an illustration of a Bitcoin exchange where this in-person cash payment is made.
Local bank transfer: Anytime you sell Bitcoin in Turkey, you can get your money in the bank. As a preferred method of payment for selling their assets, the seller enters the information for their local bank account (including account name, bank name, and account number) on an exchange app. This extends to peer-to-peer transactions as well, so it is not just applicable to exchanges.
SWIFT transfer: SWIFT, or Society for Worldwide Interbank Financial Telecommunications, is a financial messaging system. With the help of SWIFT, financial institutions from all over the world can exchange data on financial transactions in a standardized and secure network environment. With the assurance that their money will arrive in their accounts without any interruption, this platform enables Bitcoin traders in Turkey to sell Bitcoin to buyers outside of Turkey.
When you sell Bitcoin in Turkey, there are two payment methods available. Select one to take advantage of the possibilities that are opened by the successful sale of your Bitcoin. Be sure to use a reputable buyer for the sale.