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How to Sell Bitcoin

Whether you’re investing long term, trading or just trying things out, at some point you will need to sell some Bitcoin. Our guide tells you everything you need to know.


How to sell bitcoin

1

Register with Nuri.

Create your free account and just follow the steps in the onboarding process.

2

Select Wealth

Go to Wealth in the app and select the bitcoin wallet you want to sell from.

3

Choose Amount

Choose the amount of Bitcoin that you want to sell. The trading limit at Nuri is €50,000 per week.

4

Done!

Sell your bitcoin with just one tap. The order is usually executed within a few minutes.


A few good reasons to sell bitcoin


There isn’t one concrete reason to sell Bitcoin. Just like with any other form of money, your relationship to Bitcoin is unique and personal. Why you might sell Bitcoin depends on what it means to you. For some people, Bitcoin is simply a method of payment, just like the currency in your wallet. For others, Bitcoin is an investment and selling it is part of a long term goal to grow their wealth and build a better financial future. 


Here are some of the most common reasons for people to sell Bitcoin: 

  • Cashing out Bitcoin into fiat currency like the euro
  • Selling BTC to exchange for other cryptocurrencies, such as Ether
  • Investors might already have hit their targets and want to access their profits
  • Holding their cryptocurrency for long enough for it to become tax free

 

How to sell Bitcoin


Selling Bitcoin is easy and it only takes a few minutes. Your Bitcoin balance is stored in a wallet, the cryptocurrency equivalent of a traditional bank account. You can sell some or all of your Bitcoin whenever you want, 24 hours a day, seven days a week, all from your Nuri account. Your Nuri account is a trading platform, a bank account and your gateway to the world of cryptocurrency, all in one place. With just a few taps, you can sell your Bitcoin for Euro and watch as the funds are deposited into your bank account moments later.


What about taxes when I want to sell Bitcoin?


Bitcoin might be the first truly international form of money, but that doesn’t mean you can ignore the taxman. Most countries now have specific regulations for taxing Bitcoin. You should make yourself familiar with the regulations in your location as they vary from country to country. 


Different rules and regulations can impact how you plan to trade as well as affect the profitability of your activity. In Germany, you can sell BTC without paying capital gains tax if you have owned it for over 365 days. You should always assume you will have to declare your cryptocurrency activity and keep a good record of your trades, investments and purchases. Many financial authorities can and will request information stretching back several years. 


Fortunately for you, we’ve already thought of this. You can now automate your cryptocurrency activity into tax reports that you can send to your accountant or financial authority directly through the Nuri app. 


Return on cryptocurrencies


Cryptocurrencies are the hot assets because they have great historic returns. In fact, in just five years, an initial investment of $100 in Bitcoin would have a total return of nearly 5,000%. 


But Bitcoin isn’t just for trading or holding long term and holding out for big spikes in price. Cryptocurrencies can help boost your savings in ways that traditional interest accounts never could. With Nuri’s Bitcoin Interest Account, you can earn up to a 3% interest per year on your Bitcoin. Click here to learn more about interest rates you can be proud of. 



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Notices regarding Banking and Cryptocurrency Services

 

Notice pursuant to § 2 Section 10 of the German Banking Act

Nuri GmbH, offers the brokerage of transactions in crypto currencies (being financial instruments pursuant to § 1 para. 1a sentence 2 no. 1 of the German Banking Act (Kreditwesengesetz – KWG)) and in this respect acts exclusively in the name and for the account of the Solarisbank AG. Nuri GmbH is recorded as tied agent of Solarisbank AG within the meaning of § 2 Section 10 of the German Banking Act in the register which is kept by the German Federal Financial Supervisory Authority. The register can be accessed under www.bafin.de. Insofar as investments in other financial instruments are made possible via Nuri GmbH, this is not done in the name or for the account of Solarisbank AG.

 

Warning of risks related to Cryptocurrencies

Trading cryptocurrencies carries high risk and can lead to the total loss of the invested capital. We strongly recommend not to invest more than you can afford to completely lose. Before you start trading cryptocurrencies, please make sure that you fully understand the risks associated. Should you need help we recommend to contact an independent competent person or organisation. Any personal successful investments when trading cryptocurrencies in the past in no case indicate your success in the future. The cryptocurrencies traded on Nuri.com are not suitable for all investors. For further information to the product offering, visit our Support Centre.

 

Notice regarding Nuri Pots

Nuri GmbH provides its services with respect to the purchase and sale of Nuri Pots exclusively for Bankhaus von der Heydt GmbH & Co. KG (BvdH). BvdH is acting as financial commissioner and crypto custodian for the Nuri Pots. The purchase, sale and custody of Nuri Pots is subject to contracts between the user and BvdH. BvdH decides independently on the acceptance of orders and may reject any offers at its own discretion without giving reasons.


Warning of risks related to Nuri Pots

Trading Nuri Pots is associated with risks. Before investing, you are asked to conduct an appropriateness test to assess whether you have the necessary knowledge and experience to adequately evaluate the risks associated with Nuri Pots. Before you start trading Nuri Pots, please make sure that you read and understand the product and risk information provided by BvdH and the issuer.