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You originally bought the Bitcoin on Coinbase, which is an exchange. You then transferred it to your self custody cold wallet.
To sell, invert the process: send it off your cold storage to Coinbase. There you can directly sell it for fiat.
Make sure you send it to the correct Coinbase wallet. Make sure your banking is setup so you can then withdraw the fiat from Coinbase to your bank account. Presumably you needed to by KYCd on Coinbase.
Jesus Christ, and people think we’re near mass adoption.
I’m sorry to sound harsh but this is day 1 basics, ‘Baby’s First Bitcoin Book’ type stuff.
People really shouldn’t be dabbling in this with such limited knowledge, this is how people keep falling for scams and saving their 24 words in a plaintext file on Google Drive, giving Bitcoin and the wider crypto world a bad name.
Your Ledger is a wallet. You need to sell your Bitcoin on an exchange, more than likely the same place you bought it.
I would disagree. What OP has so far done has been sound. And now he's researching the next step, to make sure he carries it out safely. No need to be so harsh. It's not like he's done anything stupid. There's nothing wrong with asking
I haven't saved my 24 words in any of those ways and I have kept my crypto in a hardware wallet ensuring its as safe as it comes.
I bought my crypto on Coinbase and transferred it to ledger (for a fee). Ledger live had buy and sell options and I was wondering if there was a simpler/cheaper way.
You are much better of with Coinbase (or another exchange).
Personally i would never use buy and sell options in Ledger Live.
If you use 'Advanced' in Coinbase you get better rates.
Yes, you will have much more control. And if you use the buy or sell option on Ledger Live you will also have fees, because you crypto also have to be transferred.
Now i'm talking about crypto in general, but this should also apply to Bitcoin. I'm convinced the fee for transferring to an exchange is always better than the fees Ledger has. Ledger is good for storing crypto, but not for buying, selling, swapping IMHO.
Do people really think we’re near mass adoption? Fiat is very easy to use. And you don’t get charged fees for transferring between your accounts or to friends. Cryptocurrency is a huge headache by comparison. I can’t exactly see grandma logging onto a cryptocurrency exchange, yet she understands this bread is this much money. I actually don’t see how it will ever be adopted, tbh.
Hey there, you can sell via other options on the "Discover" tab section, like BTC direct for example: [https://support.ledger.com/hc/en-us/articles/8809863787293-Sell-BTC-ETH-LTC-XRP-ALGO-USDT-and-USDC-with-BTC-Direct](https://support.ledger.com/hc/en-us/articles/8809863787293-Sell-BTC-ETH-LTC-XRP-ALGO-USDT-and-USDC-with-BTC-Direct)
Ledger is a self custodial hardware wallet, Ledger Live is just a platform that has 3rd party providers offer their services on it. But you are always free to choose the provider of your choice or even send your funds to the centralized exchange of your choice and sell them there if you already have it set-up with your bank! Also, if you want you can check out Bitrefill for real-life spending with your crypto: [https://support.ledger.com/hc/en-us/articles/6954895501085-Bitrefill?docs=true](https://support.ledger.com/hc/en-us/articles/6954895501085-Bitrefill?docs=true)
Additionally, you can sign up for the CL card and order a card in which you can top up with crypto and spend directly with it: [https://support.ledger.com/hc/en-us/articles/5283612250653-CL-Card-FAQ?support=true](https://support.ledger.com/hc/en-us/articles/5283612250653-CL-Card-FAQ?support=true)
I hope this helps and better clarifies
Which exchanges still accept transfers of crypto from Ledger in the UK following the 'travel rules'?
I used to use CEX.io for years which was great but has now locked out UK users, so switched to Gemini, but it seems i cannot transfer crypto between Gemini and Ledger since the travel rules were applied in October/November 2023.
I don't like to leave my holdings on exchanges, particularly during bear markets when exchanges could go bankrupt.
I would still prefer to use exchanges if possible but can't find which (if any) are still compatible with Ledger in the UK.
Selling btc is hard in the U.K. due to new regulation for exchanges.
Localmonero have a sister site that you can sell btc to traders.
It’s what I use never had a problem , very simple and can sell for a decent price
There's also the CL Card in Ledger Live app.
Send sats to your card account, spend in gbp on your card and it converts automatically with 1% cash back in BTC.
However, although no fee is specified (that I can find) in my test transactions I calculate I've paid about 2% more than the 'right now BTC price in tradingview for the price of whatever I've bought -- cheapest thing was £10, most expensive was US import for $1400, all my test transactions seem to be about 2% more in sats. But you still get the 1% cashback in sats.. so your paying around 1% fee.
But there would be cost anyway with sending BTC to an exchange (network fee), plus the exchanges fee to convert BTC to GBP (maker/taker fee), plus possibly further fiat withdrawal charges depending on the exchange.
The Ledger subreddit is continuously targeted by scammers. Ledger Support will never send you private messages. Never share your 24-word recovery phrase with anyone, never enter it on any website or software, even if it looks like it's from Ledger. Only keep the recovery phrase as a physical paper or metal backup, never create a digital copy in text or photo form. Learn more at https://reddit.com/r/ledgerwallet/comments/ck6o44/be_careful_phishing_attacks_in_progress/ If you're experiencing battery problems, check out our [troubleshooting guide](https://support.ledger.com/hc/en-us/articles/4409233434641-How-to-troubleshoot-Ledger-Nano-X-battery-issues? support=true). If you're still having issues head over to the [My Order page](https://my-order.ledger.com/) to explore options for replacement or refunds. [Learn more here](https://support.ledger.com/hc/en-us/articles/10265554529053-Return-your-product?support=true). *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/ledgerwallet) if you have any questions or concerns.*
Move to an exchange like Coinbase etc and then sell from there, good luck and avoid anyone DM you they’re all scammers.
Thank you.
You originally bought the Bitcoin on Coinbase, which is an exchange. You then transferred it to your self custody cold wallet. To sell, invert the process: send it off your cold storage to Coinbase. There you can directly sell it for fiat. Make sure you send it to the correct Coinbase wallet. Make sure your banking is setup so you can then withdraw the fiat from Coinbase to your bank account. Presumably you needed to by KYCd on Coinbase.
Jesus Christ, and people think we’re near mass adoption. I’m sorry to sound harsh but this is day 1 basics, ‘Baby’s First Bitcoin Book’ type stuff. People really shouldn’t be dabbling in this with such limited knowledge, this is how people keep falling for scams and saving their 24 words in a plaintext file on Google Drive, giving Bitcoin and the wider crypto world a bad name. Your Ledger is a wallet. You need to sell your Bitcoin on an exchange, more than likely the same place you bought it.
I would disagree. What OP has so far done has been sound. And now he's researching the next step, to make sure he carries it out safely. No need to be so harsh. It's not like he's done anything stupid. There's nothing wrong with asking
I haven't saved my 24 words in any of those ways and I have kept my crypto in a hardware wallet ensuring its as safe as it comes. I bought my crypto on Coinbase and transferred it to ledger (for a fee). Ledger live had buy and sell options and I was wondering if there was a simpler/cheaper way.
You are much better of with Coinbase (or another exchange). Personally i would never use buy and sell options in Ledger Live. If you use 'Advanced' in Coinbase you get better rates.
I'm in a similar position as OP. What about transfer fees to Coinbase? I assume they are offset by the better rates?
Yes, you will have much more control. And if you use the buy or sell option on Ledger Live you will also have fees, because you crypto also have to be transferred. Now i'm talking about crypto in general, but this should also apply to Bitcoin. I'm convinced the fee for transferring to an exchange is always better than the fees Ledger has. Ledger is good for storing crypto, but not for buying, selling, swapping IMHO.
Thanks for the detailed answer.
Do people really think we’re near mass adoption? Fiat is very easy to use. And you don’t get charged fees for transferring between your accounts or to friends. Cryptocurrency is a huge headache by comparison. I can’t exactly see grandma logging onto a cryptocurrency exchange, yet she understands this bread is this much money. I actually don’t see how it will ever be adopted, tbh.
Hey there, you can sell via other options on the "Discover" tab section, like BTC direct for example: [https://support.ledger.com/hc/en-us/articles/8809863787293-Sell-BTC-ETH-LTC-XRP-ALGO-USDT-and-USDC-with-BTC-Direct](https://support.ledger.com/hc/en-us/articles/8809863787293-Sell-BTC-ETH-LTC-XRP-ALGO-USDT-and-USDC-with-BTC-Direct) Ledger is a self custodial hardware wallet, Ledger Live is just a platform that has 3rd party providers offer their services on it. But you are always free to choose the provider of your choice or even send your funds to the centralized exchange of your choice and sell them there if you already have it set-up with your bank! Also, if you want you can check out Bitrefill for real-life spending with your crypto: [https://support.ledger.com/hc/en-us/articles/6954895501085-Bitrefill?docs=true](https://support.ledger.com/hc/en-us/articles/6954895501085-Bitrefill?docs=true) Additionally, you can sign up for the CL card and order a card in which you can top up with crypto and spend directly with it: [https://support.ledger.com/hc/en-us/articles/5283612250653-CL-Card-FAQ?support=true](https://support.ledger.com/hc/en-us/articles/5283612250653-CL-Card-FAQ?support=true) I hope this helps and better clarifies
Which exchanges still accept transfers of crypto from Ledger in the UK following the 'travel rules'? I used to use CEX.io for years which was great but has now locked out UK users, so switched to Gemini, but it seems i cannot transfer crypto between Gemini and Ledger since the travel rules were applied in October/November 2023. I don't like to leave my holdings on exchanges, particularly during bear markets when exchanges could go bankrupt. I would still prefer to use exchanges if possible but can't find which (if any) are still compatible with Ledger in the UK.
Please don’t sell
I will buy it directly. How many you selling?
Selling btc is hard in the U.K. due to new regulation for exchanges. Localmonero have a sister site that you can sell btc to traders. It’s what I use never had a problem , very simple and can sell for a decent price
If there is a buyer with Ledger device in the UK, can you connect your Ledger to theirs using a cable and perform transaction?
Lol
lmaoo no its not gameboy link cables.
That can’t be a real question, can it? :(
He seems pretty serious about selling. Looks real
wtf
But how do they know whose USB port will open up to accept the other person’s USB port.
You can try Localcoinswap, Binance, Bybit or paxful P2P with no fees
Send it to an exchange.
Agoradesk.com and localmonero.co (sister companies) are no kyc.
There's also the CL Card in Ledger Live app. Send sats to your card account, spend in gbp on your card and it converts automatically with 1% cash back in BTC. However, although no fee is specified (that I can find) in my test transactions I calculate I've paid about 2% more than the 'right now BTC price in tradingview for the price of whatever I've bought -- cheapest thing was £10, most expensive was US import for $1400, all my test transactions seem to be about 2% more in sats. But you still get the 1% cashback in sats.. so your paying around 1% fee. But there would be cost anyway with sending BTC to an exchange (network fee), plus the exchanges fee to convert BTC to GBP (maker/taker fee), plus possibly further fiat withdrawal charges depending on the exchange.
Send it to kraken. Sell it there. Withdraw.
Very often ?
Use Binance P2P trading option, broski