There are a ton of ways to buy Bitcoin, however, to sell Bitcoins and receiving Euros safely into your bank has not been as straightforward.
This is mainly due to two reasons:
- Regulatory-heavy steps such as AML and CFT
- Banks blocking user accounts that deal with Crypto companies.
Bringin is on a mission to make it convenient for users to convert Bitcoin to euros while mitigating the risks mentioned above. (Read more about Bringin’s unique approach here)
In this blog, we discuss the safest and fastest ways to sell bitcoins online, for cash, or through instant bank transfers and also let you know on how to sell bitcoins instantly and safely to euros using Bringin.
First things first, you need a Bringin account to start selling Bitcoins from your wallet
Sign up here if you haven’t already.
Once you are given access to Bringin, head to https://spend.bringin.xyz/ and Start by logging into your Bringin account. Enter your email and password,
Step 1 - Create a Sell order
Bringin allows you to sell Bitcoins either on-chain or using lightning from any wallet. First, enter the amount of Bitcoin you wish to sell.
The platform will display the current Bitcoin price and calculate the total amount in euros you will receive. For instance, 0.002 BTC was sold for 76 euros.
Take note of the transaction fee, which Bringin sets at a flat 1% for every transaction. After reviewing all details, including the Bitcoin price and the amount in euros you will receive, click ‘Submit’ to proceed with the sale.
Step 2 - Choose IBAN to withdraw Euros
Bringin offers two options for utilizing the euros received from selling Bitcoins:
- Create a Virtual Debit Card: This one-time use card lets you spend Bitcoin at any online shop (more details soon).
- Withdraw Euros to Your Bank Account: For this guide, we’ll choose to withdraw euros directly to a bank account. You can either select a previously added account or add a new beneficiary account account in your name.
After selecting your bank account (e.g., a Revolut account), review the summary of your order which will display the tentative amount of Euros you will receive into your bank account.
Step 3 - Send BTC to Specified Address and Submit Order
Upon confirmation, a Bitcoin QR code will be displayed. You have a 24-hour window to send the specified amount of Bitcoin (0.002 BTC in this example) to the displayed address from your wallet.
You can send BTC to this wallet address from any wallet including Hardware wallets, hot wallets, mobile wallets, etc. You can also complete a single order with multiple transactions from different wallets.
To make the process less stressful, Bringin also gives you a link where you can track the transaction status in real-time on the Blockchain.
Note – The amount displayed is based on the price of bitcoin at the given time which is subject to change based on the time of confirmation of the transaction.
Step 4 - Enter Verification Code and Complete SEPA Transfer
Once the Bitcoin transaction is confirmed on the blockchain, you can initiate the SEPA transfer from your Bringin account to your desired bank account. Enter the one-time password received on your phone for authentication.
After initiating the SEPA instant transfer, the funds will be sent from your Bringin IBAN account to your bank account. This process may take a few seconds (with SEPA Instant) to a couple of hours, depending on the banking network.
Note – The risk of your recipient bank blocking your account is mitigated since the transfer is initiated from another IBAN under your name.
That’s it! With these simple steps, you can safely convert Bitcoin in your wallet to euros in your bank account using Bringin.
The process is straightforward, secure, and user-friendly, making Bringin a handy tool for anyone looking to spend Bitcoin in the real world.
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