I recently recovered one of my old local Electrum wallets from 2017.
Is there a way to move the sum to an actual exchange for them to be converted and withdrawn? I got no particular interest in BTC as a whole so my goal would to just make something out of that.
Moving BTC from an old local Electrum wallet (and possibly withdrawing the sum)?
byu/DolanMcRoland inBitcoinBeginners
Posted by DolanMcRoland
1 Comment
Rule #1: Never sell your Bitcoin.
But hey, if you’re going to anyway, there are many ways of doing it.
For a large amount, you will almost certainly want to move it to an exchange – ideally not all at once. Remember that the moment it leaves your wallet, it’s out of your control.
You could sell it on Strike, Binance, Coinbase, or Kraken, to name the biggest exchanges.
Once you have an account, they will provide you a Bitcoin address under their control that you can deposit into. Just send your desired amount of Bitcoin to that address and sell it once it appears in your account.
For small/medium amounts, you might also like to consider selling P2P (peer-to-peer). This can save you the regulatory compliance nightmare that exchanges sometimes subject one to.
I’d recommend [HodlHodl](https://hodlhodl.com/). They’ve been around for a while and use a non-custodial escrow address for every trade to ensure neither you nor the buyer get scammed.