Sell Bitcoin Cash for Euro
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Sell Bitcoin Cash to SATOS
Is this process still a bit opaque to you? No worries! You can get in touch with our support team. We are available seven days per week, and you can reach us through the live chat or over the phone.
Follow these steps and learn how to sell your BCH
Step 1: Place an order to sell Bitcoin Cash
You do not need a SATOS account to sell Bitcoin Cash (BCH) The only thing you need is a personal wallet and a certain amount of Bitcoin Cash you wish to sell to us. The first step is self-explanatory: you either enter the amount in euros you would like to receive or the amount of Bitcoin Cash you wish to sell. The computer will automatically calculate the other amount based on the exchange rate. Do you agree with the proposed rate? Then click on ‘Place order’.
Step 2: Confirm your order
We now require your details to process the transaction and transfer your payment. You will need to fill in your email address, bank account, and name of the primary account holder. Did you enter this information? Great, you are nearly done! If this is the first time you place an order, we will first have to verify your bank account. Fortunately, this does not take too long. Click on ‘Confirm order’ to confirm your transaction.
Step 3: Send Bitcoin Cash to SATOS
The next step is to send your bitcoin cash to a SATOS wallet address. After filling in your details and clicking on send, you will be shown an address to which you must send us your bitcoin cash to. It is vital that you select an appropriate transaction fee. This ensures that we will receive your bitcoin cash before your order expires. Most bitcoin cash wallets automatically display a recommended and average transaction fee. Once you have uploaded your transaction to the network, you will need to wait for the confirmation of the blockchain. Wondering how long this takes? We will explain this process a bit further down the page. For now, let us go to the final step!
Step 4 – Verification and payment
Alas, even SATOS is obligated to follow up on verification procedures as after your transaction is confirmed on the blockchain, we will ask you to briefly verify yourself. We will thoroughly explain our verification procedures on your personal transaction page as well as indicating which procedures apply to you. Do not fret, it is not rocket science and if you are curious about what our verification procedures are you can always check our current verification methods. Once you have handed in the specified verifications, our compliance team will do their best to quickly assess and verify your documents, after which we will process your order as soon as possible.
Up-to-date with our verifications? Then we will do our best to pay your order out as fast as we can!
How long does it take before I receive euros on my bank account?
Obviously, you would like to know now how long it takes before you receive your hard-earned euros on your bank account. It depends on a couple of factors:
- SATOS processing time
- Processing time of the Bitcoin Cash network
- Bank processing time
SATOS processing time
On average, SATOS processes transactions within 15 minutes. Also, be aware that the selling price of your transaction gets defined the moment we receive your Bitcoin Cash. You will not have to worry about possible rate fluctuations during the sales process after we have received your Bitcoin Cash. You will then immediately know how much money you will receive.
Processing time of the Bitcoin Cash network
The operating speed of the Bitcoin Cash network should also be taken into account when processing a transaction. If the system is currently facing a lot of traffic, it might take a bit longer before miners successfully add your transaction to the Bitcoin Cash blockchain. The speed with which your transaction is processed also depends on the transaction fee you pay. After all, every block only contains limited space for transactions. Miners cannot simply place all open trades on the block they are currently working on. Hence, they prioritise their work orders. Miners will be more tempted to first select work orders with higher transaction fees. Indeed, the higher the payment, the faster your transaction will be processed.
Bank processing time
The speed at which your transaction is processed also depends on the processing time of banks. Unfortunately, banks are not as fast as the Bitcoin Cash blockchain. It may take a while before they have processed your transaction. Besides, banks are often closed on the weekends. It’s possible that you will have to wait until the next working day before your euros appear on your bank account. As a rule of thumb, you can expect bank payments to be processed on the same day as long as they have been initiated before 3 PM. If you have not completed your transaction by then, you will need to wait until the next working day for it to be finalised.
Why do customers opt for SATOS?
- Speed: SATOS processes your transactions seven days per week.
- Reliable: SATOS was one of the first Bitcoin brokers in the Netherlands. We have been one of the industry’s most reputable brands for quite some years now.
- Support: our employees are available every day of the week to help you with any questions you might have, both over the phone and through the live chat.
- Security: we choose not to manage the assets of our clients. You will always retain full control over the cryptocurrencies bought from us.
- Straightforward: we offer iDEAL, Bancontact and SEPA for easy and fast payment.
We appreciate our customers’ feedbacks! Here’s what some of our customers say about our work Trustpilot.
Can I also buy Bitcoin Cash at SATOS?
Certainly! Our platform can be used to sell Bitcoin Cash and buy Bitcoin Cash. It is our mission to make cryptocurrencies more accessible for everyone by allowing the exchange of cryptocurrencies for euros and vice versa. Wondering what other cryptocurrency you can sell at SATOS? Take a look at these pages:
What is the right value to sell Bitcoin Cash?
Had we known the answer to the question, we would have been on a full-time holiday on the Bahamas by now. Unfortunately, this is not the case. The crypto market is extremely volatile and unpredictable. The most important consideration here is that you should never make any impulsive decisions. Also, don’t blindly follow the opinions of others. You should always do your own comprehensive research before you come to a decision. To help you out a bit, we have created a special Bitcoin Cash Price chart page. It features an explanation of the factors determining the coin’s current pricing, but also offers a brief overview of the historical exchange rates.
Veelgestelde vragen
Can I also sell Bitcoin Cash at SATOS?
SATOS also offers cryptocurrency selling services. So indeed, it’s certainly possible to sell Bitcoin Cash to us. The only thing we need from you is your bank account and the Bitcoin Cash that you would like to sell. We will take care of the rest!
Wondering what other cryptocurrencies you can buy and sell at SATOS? Take a look at these pages:
Can I also sell Bitcoin at SATOS?
Yes, certainly! SATOS offers both selling and buying services for Bitcoin. If you want to sell Bitcoins and receive euros in return, you will only need to send your coins to the address we provide you with. As soon as we have received the Bitcoins, we will transfer your payment to your bank account!
Wondering what other cryptocurrencies you can buy and sell at SATOS? Take a look at these pages:
Pay taxes on your crypto assets
Paying taxes is also an integral component of cryptocurrency. Always ensure that you file your crypto assets with the tax authorities. The taxes you need to pay only make up a small part of your capital, and in the Netherlands, the first EUR 30,000 is exempted from taxation. You can find more information about cryptocurrencies and taxes at our dedicated tax page. Ethereum and other cryptocurrencies are nowhere recognised as official currencies, but this doesn’t entail that they are exempted. Consider, for instance, the income tax, corporate tax, asset tax and turnover tax. Cryptocurrencies represent value, and everything that carries value has to be reported to the tax authorities. Also, be aware that you are personally responsible for complying with the applicable tax legislation. To make this a bit easier, we have created an overview of the relevant legislation that will help you figure out how to pay bitcoin tax.
Always double-check addresses before sending cryptocurrencies
Are you going to transfer cryptocurrencies? Like when selling Bitcoin? Then always copy the recipient address of the person you like to send the Bitcoin to. It is easy to make a mistake when re-typing the address. There is also nothing you can do afterwards to recover your payment. Indeed, if you accidentally send Bitcoin to a wrong address, there is a big chance you will never see your coins again.
Communicate with your bank before selling large amounts
If you are planning to sell large quantities of cryptocurrency, it is advisable to inform your bank of this in advance. If you fail to do so, your bank might start asking questions of you following a transaction. They even reserve the right to freeze your bank account if they smell something fishy. You will want to avoid this. Hence, always inform your bank in advance when major transactions are coming up.
Setting up a transaction fee for miners
We have already discussed this earlier on this page, but it remains crucial to add a reasonable transaction fee to your transaction. This ensures that the Bitcoin miners will quickly add your transaction to the blockchain. Miners are faced with limited transaction space per block, which is why they prioritise trades with high fees.
Cryptocurrency and paying taxes
It is essential that you declare your crypto assets with the tax authorities every year. This helps you to avoid future problems when you, for instance, attempt to exchange your Bitcoin to euros. In the Netherlands, cryptocurrencies are generally taxed in Box 3. The first 30,000 EUR is exempt from taxation. You can find more information about taxes at our dedicated bitcoin tax page.
Which bank does SATOS use?
Our accounts are administered by BUNQ. This allows us to offer you instant payment services. Are you also an account holder at a bank supporting instant payment? Then the money will appear on your account almost instantaneously.
Does SATOS pass on information to tax authorities?
No, SATOS does not provide tax authorities with any data. You are expected to communicate your received income to the tax authorities yourself.
How long does it take before I receive the money on my bank account?
You will receive your payment on the next working day at the latest. This differs from bank to bank. SATOS generally processes orders within 10 minutes. If your bank supports instant payments, the money will nearly instantaneously appear on your account. Take a look at our terms and conditions to learn more about how we operate and what you can expect from us. We have done our best to keep them as short and understandable as possible. That way you know for sure that you’ll never be confronted with unexpected surprises.
I need assistance; what is the most convenient way to reach you?
We are available seven days per week from 10 AM to 9 PM. You can reach us through the live chat, by email, or by using social media. For frequently asked questions, please first check our support-page.
What does SATOS use my personal data for?
We understand that privacy is a key concern for you. Therefore, we drafted an entire page covering just this subject. Please have a look at our privacy policy page.
Always opt for a customary miner fee
Ripple is known for its low transaction costs. Still, you should always consider the fee that you will pay when making a transaction. If your miners fee is considered too low, it may take hours before miners start processing your transaction and add it to the blockchain. Therefore, always check the current average fee when making a transaction.