So, how long does it take to sell Bitcoin? The real answer is, it depends. In this post, I’ll take a look at different trading situations where you can sell BTC in almost an instant and others not so much.
Demand & supply
The crypto market has grown to such as size that you can buy and sell Bitcoin in mere seconds. This naturally depends on the price you put your sell order in for and the trading volume. You can look at it as demand and supply.
Let’s say currently the average price of Bitcoin is $6000. However, you want to sell your Bitcoin for $6500. Now the prices can vary a lot depending on the exchange your using. However, unless something happens that the price for BTC increases dramatically, you might have to wait a while for the sale to go through.
On the other hand, you could have tried to sell your BTC at $6100 and had much better chances of it selling. At $6000, you’re almost guaranteed an instant sale.
I’ve witnessed on some smaller exchanges that higher prices are the norm. However, keep in mind that trading volume is lower and it might still take a while for the order to fill.
For the trading volume, if you are trading on an exchange with lots of volume like Binance, Bittrex, Coinbase etc. then getting an order filled should be easy. For local exchanges, it could be a different story. Often on local or smaller exchanges, there are fewer users, fewer trades, fewer people trying to sell Bitcoin, less price action, which means, it takes a lot longer to sell.
What to do then?
If you want to sell Bitcoin and you are unsure if your price will fill, just list the highest amount you want to get for it and wait. Given the fact that you are asking a price within the current market ranges, you should get it filled.
If you really want instant selling, just list it at the last sold price and you’ll get your money within a few minutes if not seconds.
When selling alt coins, it could be a different story, especially if they aren’t listed on many exchanges and have low trading volume. Essentially it’s the same story compared to Bitcoin, just a different token.