The following example is for Bitcoin (BTC) but equally applies to all of our cryptocurrency/AUD combinations.
- Go to the buy/sell section of our website: https://www.btcmarkets.net/trading/buysell
- To sell BTC for AUD, you need to trade the "BTC/AUD" currency pair. Select "BTC/AUD" from the dropdown box, located near the top of the page.
- Scroll down to the 'sell Bitcoin' section and choose the order type by selecting the 'market' or 'limit' tab.
What is a market order?
A market order will buy or sell immediately at the best available price. The best available prices are shown in the order book if you want to check it before ordering. To create a market order just select the "market order" option on the trading page.
What is a limit order?
When you place a limit order, you decide what price you wish to sell your cryptocurrency for. Your order will then be added to the order book and will be waiting for someone to submit a matching order.
- Once you have selected the order type, fill out the volume and price fields on the left.
Volume: What quantity of the currency you own do you want to sell.
Price: This applies only if you have selected a Limit order.
There are also helpful links to automatically populate 'sell all' (volume) or 'best buy price'.
- Review the 'receive total' which shows the funds that will be purchased after fees. Press the 'sell BTC' button to submit your request. Our fee structure can be viewed here - https://btcmarkets.net/fees.
- Please note: in some cases, a submission may not automatically result in the sale of your funds. Orders need to be matched to a corresponding buy order, and there may be other orders ahead of yours in the queue.
- I have waited a long time, and my order is still not completed.
If you find that nothing happens after a long time, click on 'buy/sell' and then 'open order' and have a look to see if your order is still open: https://www.btcmarkets.net/trading/openorders Check the price to see if it's near the market average. You may have to cancel it and put in a more competitive price if you want your order matched more quickly. This is all part of trading
If you wish to withdraw your AUD funds to your bank account, you can find helpful information here: https://btcmarkets.zendesk.com/hc/en-us/articles/360000832753