With the increasing worldwide popularity of Bitcoins, the demand for various cryptocurrencies is rising. Hence, it is wise to hold on to your stock of Bitcoins to sell them when the price is at its peak. Furthermore, with the help of the bitcoin transactions, you can safely and securely sell off your cryptocurrency. It is also good to know a few factors that may come into play when selling crypto.
Factors That Determine The Selling of Cryptocurrencies
Surprisingly, it is very easy to sell Bitcoin and move the profit to your bank account. All you have to do is sell your cryptocurrency in exchange for money via a platform. When it comes to highlighting the factors that determine the market price fluctuation of cryptocurrencies, it is mostly the demand for cryptocurrency in the market. This means as the number of people wanting to buy crypto increases, its price increases. As cryptocurrency is not under government control, you can trade it privately and anonymously.
It would be best if you informed yourself about the various factors that influence selling Bitcoin.
- Taxes – You will have to pay a tax on your income if you make a profit by selling your Bitcoins. You have to keep this in mind when you plan your taxes for the fiscal year. It is quite common for any reputable broker to report any fraudulent transactions for tax purposes.
- Fees – You can take the help of broker exchange platforms to trade in Bitcoins safely. However, you should know they usually charge a fee on your transaction.
- Speed – You should be aware that the profit transfer is not instant, and it will take a bit of time for the brokers to transfer the money to your account. Hence, being patient will result in big profits.
It would be best if you kept these factors in mind when withdrawing your profits. Moreover, several companies have also joined in on the trend. Not just that, many companies are also accepting cryptocurrencies as payment options, and let’s now have a look at the companies one by one.
Popular companies that accept crypto payments
The trend of buying and selling cryptocurrencies is increasing. Hence, it is normal that various companies are now jumping on the bandwagon of cryptocurrency. Moreover, as cryptocurrencies become normalized and enter the main market, popular companies accept them as payments. Here is the list of companies that already use Bitcoins and cryptocurrencies as their preferred mode of payment-
- Microsoft
Back in 2014, Microsoft had adopted Bitcoin and other cryptocurrencies as payment. One of the biggest names in computer technologies, Microsoft accepts Bitcoins and other cryptos. If you are trying to buy games off their Xbox platforms or Windows market, you can pay using cryptocurrencies. Moreover, most people around the world use a Windows computer. Hence, it is far more convenient if you own Bitcoin or other cryptos, you can pay using them. Microsoft and a few other companies were some of the first companies to accept Bitcoins as payment.
- Paypal
One of the biggest names in the currency transfer app, Paypal, accepts Bitcoins. This company hopped on the crypto trend in late 2014. However, Paypal intends to draw business onto their platform rather than customers. Now, as several companies pay or transfer crypto, they are making a hefty profit. Paypal is known as one of the companies to start accepting cryptocurrencies as their preferred mode of payment since the beginning, and they beat Microsoft by accepting crypto back in September of 2014.
- Overstock
. Overstock started accepting crypto back in January of 2014, and hence, becoming the first company to include cryptocurrency as a payment option.
- Whole Foods
This company only recently joined the crypto hype, and they have accepted Cryptocurrency since May of 2019. However, if you own cryptocurrency, you can now buy their products using it. This makes it far more convenient and safe for consumers to buy food items using crypto.
Final Words
Hence, these are a few popular companies that accept cryptocurrencies as payment. You can now see how the financial market is shifting towards cryptocurrency. So, what makes you wait to start investing in crypto today?