Where To Sell Bitcoins? Bitcoin Exchange Rate Is Dropping!

Sell bitcoins may become the hottest Google search in the next few weeks since it looks like bitcoins as a currency could be in jeopardy.  You may not have heard of bitcoins as a currency or Bitcoin as a technology, but it is basically a form of digital currency that has achieved marked growth from consumers as a peer to peer payment system since its inception in 2009.  People that trade or use this form of “cryptocurrency” as it is called can send and receive the currency for a particular transaction with what is termed as wallet software from a mobile phone, a personal computer, or a tablet.

sell bitcoins trading

Do you need to sell bitcoins because of losses?

Bitcoins lack the normal consumer protection from fraud of other local forms of currency, which may be one of the reasons MtGox.com one of the largest online traders of and places to buy and sell bitcoins has recently been taken completely offline.  A person attempting  to sell bitcoins on the site will find a simple one paragraph note mentioning that online trades have been suspended. This recent suspension of trades comes as simultaneously all tweets have been deleted from its twitter account and Mt.Gox CEO Mark Karpeles turned in his resignation from the Bitcoin Foundation’s board of directors on February 23, 2014.

Mt.Gox has been saddled with accusations since early February 2014, when it halted withdrawals from its trading accounts making selling bitcoins impossible on their site.  Apparently, there was a technical problem with the way Bitcoin works, which allowed cyber attackers to fraudulently debit funds from Mt.Gox directly.  When Mt.Gox computer programmers recognized the cyber fraud, they stopped investors from withdrawing money from their Bitcoin accounts and has not allowed access for investors to sell bitcoins ever since.  The volatility of bitcoin pseudo-currency has made many of its most outspoken supporters want to rethink their investing strategy in the new decentralized method of payment.  Stay tuned for more news on Bitcoin digital money.

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