With Coinify, you can sell your bitcoin in exchange for fiat currency, receiving euros or pounds directly to your bank account if you live in the SEPA region. For anyone living outside of the SEPA region, at this time, the only available service is buying bitcoin, but selling is coming soon.
To get started, enter the amount of bitcoin you would like to sell. If you enter an amount outside of the allowed limits, an error message will tell you how to adjust the sell value. The current quote per bitcoin will be displayed along with the estimated amount of local currency you would receive. Once you’ve created an account, your daily limits will also show here with a button to increase this value if you’d like to sell more. Continue by clicking Sell Bitcoin.
Next, follow the instructions to enter your bank account information, making sure your bank account country matches the local currency you’re using and your residence country. Incorrect information will affect processing times and cause your order to be delayed.
Finally, confirm the order details and click Place Sell Order.
The exact length of time a transaction takes to complete varies by amount and country. You can always check the status of an order in your Order History. Now there’s nothing left to do but wait for your funds to arrive in your bank account, congrats!
Tips for sell trades
- Coinify sends payouts in fiat only to bank accounts registered in the European Union and in the name of the trader. If the info entered on the order details is incomplete or incorrect, it will affect the time it takes to process your order.
- We recommend checking with your bank to confirm that it will accept transfers coming from a Bitcoin company. Keep in mind that some banks might reject the payout; in such cases, the funds bounce back to Coinify.
- In some cases, you may be required to submit proof of source of funds (BTC included) due to Compliance and AML requirement. If necessary, Coinify will reach out to you via email to the same address you registered your account with. Please note that Coinify is not authorized to send payouts without this information.