When deciding to sell Bitcoin, you first need to consider which option is best for you: selling Bitcoin online via exchange, trading directly or selling Bitcoin in person. Each method has its pros and cons.
Sell using an exchange
There are plenty of online exchanges allowing you to sell your Bitcoins for money. The process is simple: register your credential, verify your identity (normally sending to the exchange a copy of you ID and a proof of residence), and you can start trading Bitcoins.
When selling a Bitcoin on an exchange, you place a “sell order” at a price you would like to sell, and if someone places a buy order at the same price, the transaction is done. So the equivalent price will be credited to your account on the exchange.
After the sell, you can either leave money at your exchange account and use them later (for buy other Bitcoins in the future) or withdraw those funds to your bank account.
Remember that the exchange usually charges some transaction fees.
There are also some websites, allowing users the direct sale of Bitcoins. They work like a listing website that put in contact the seller with the buyer and vice versa.
Registering your credential and to verifying your identity are also required there.
After the registration, you can post a sell offer, and the website will alert you when a buyer wants to trade with you. From there, bargaining will take place directly with the buyer.
Sell your Bitcoin in person
To sell a Bitcoin in person, you need only to scan a QR code on another person’s phone, send Bitcoins and accepting cash-in-hand.
CEX.IO is a Bitcoin Commodity Exchange, which has shared credentials with GHash.IO mining pool. This scheme allows users to trade Bitcoin mining power (GigaHashes per second) and mine Bitcoins simultaneously. Alternative crypto currencies, such as Litecoins and Namecoins also stand for trading at CEX.IO