Hey, there fellow Bitcoin hodler! Now that you have bought some, you might feel that it’s time to let some of them go. Below is a guide on how you can ALSO use Paynow to make yourself some quick bucks by selling Bitcoin in Singapore!
XanPool is a platform that connects you directly to local buyers willing to buy Bitcoin from you using PayNow. The process of selling Bitcoin is easy to use. You send the Bitcoin to the buyer, and XanPool will make sure that once you’ve done so, you will be able to receive the cash directly into your Paynow account. Of course, before sending the BTC, you will have to verify your identity through our quick 3 minutes KYC process. (similar to buying Bitcoin.)
Steps onusing PayNow (Singaporean Dollars):
Create XanPool Account + Verify Account.
Start by clicking the “Sign Up” button on the top right-hand corner to sign up for your XanPool account. And make sure you follow the process to verify your account with XanPool.
Start a Transaction
Navigate to the XanPool website where you can sell. and click on the Large “Xchange” button circled in Diagram 1.0
Next, click on the “Sell Crypto” tag displayed next to the red “1” displayed on diagram 2.0 to make sure you are selling cryptocurrency.
Select how much Bitcoin you want to sell in BTC, as displayed on diagram 2.0 next to the red “2”.
Verify again that you are selling in Singapore, as displayed on diagram 2.0 next to the red “3”.
Enter your Handphone number under the “Paynow Phone Number”, as displayed on diagram 2.0 next to the red “4”. Repeat your Handphone Number under the “Repeat Phone Number” column.
Once you are satisfied with the details of the transaction click on the “Xchange” button on the right side of the page, as displayed on diagram 2.0 next to the red “5”.
Make sure you make the payment within three minutes in order to lock in the rate of the Bitcoins. If your payment gets sent after the three minutes are over, your SGD (Singaporean Dollar) to BTC rate may change. Don’t worry it should not take longer than 3 minutes! All you have to do is:
Manually send the Bitcoins to the address next to the red “1” by either entering copying and pasting it into your bitcoin wallet manually.
You can scan the QR code displayed in diagram 3.0 next to the red “2” with your Bitcoin wallets of choice. This will automatically copy the address over into your bitcoin wallet. Make sure to key in the correct amount of Bitcoins.
Once you have sent the bitcoin, your exchange rate and fees are confirmed and will no longer change. If your account’s compliance matters are in order, and after 2 Bitcoin block confirmations, the money will be sent to your PayNow instantly.
And THAT is how you sell Bitcoins in Singapore easily by using PayNow! (compatible with all local bank accounts)