If you are reading this article, it is likely that a loved one has died recently and that they held Bitcoins at the time of their passing. First of all, I would like to express my sympathies regarding your loss. Secondly, I will explain in this tutorial how you can sell their Bitcoins for a traditional currency like the US dollar or the Euro.
This tutorial assumes that you know for a fact that your loved one held Bitcoins at the time of their passing and that you are able to access them. If that’s not the case, I recommend that you read this tutorial that explains how you can find out if your deceased loved one had Bitcoins.
So, what is Bitcoin exactly?
Bitcoin is a currency, like the US dollar or the Euro. That is, it can be used to buy or sell goods and it can be exchanged for other currencies. Bitcoin does have a few key differences that set it apart from traditional currencies, but for the purpose of this tutorial, you don’t need to understand all of them. However, you should know that:
- Bitcoin is first and foremost a digital currency. You need to be comfortable with technology.
- Bitcoin is decentralized. That is, it works without central authorities such as governments, banks or payment platforms. If anything goes wrong, you are often on your own.
- Bitcoin transactions are final. Reversals or chargebacks are impossible.
Since its release in 2009, Bitcoin has become more and more of a valuable currency. At the time of writing these lines, one Bitcoin was worth about $103,000 USD; and in January 2025, it reached an all-time high of about $105,000 USD. Note that you can have less than a Bitcoin; the smallest amount possible is 0.00000001 BTC.
How can you sell Bitcoins?
There are several ways to sell Bitcoins for a traditional currency like the US dollar or the Euro. Since most banks do not deal with cryptocurrencies such as Bitcoin, you will need to use exchanges or ATMs instead. You can also sell your Bitcoins to other people directly.
Exchanges
An exchange is a platform where you can sell your Bitcoins for other cryptocurrencies (like Ethereum, Solana and Ripple) or traditional currencies (like the US dollar and the Euro). If you sell them for a traditional currency, the exchange can pay you the money through various means, which are going to vary depending on factors such as the amount of money involved, the country you live in, the currency you want, etc. For instance, if you live in the United States and wish to receive US dollars, you can often ask the exchange to deposit the money into your bank account through a wire.
If you are looking to sell a smaller amount of Bitcoins, you may do so directly on the exchange. For bigger amounts, you may want to deal with an exchange that has an OTC (over-the-counter) service: this way, you will be guided through the transaction and pay less in fees.
Generally, exchanges charge a fee that ranges between 0.25 and 1% of the Bitcoins sold.
ATMs
ATMs are physical machines that allow you to convert your Bitcoins for a traditional currency like the US dollar or the Euro. However, instead of receiving your money through virtual means, you receive them through cash. While ATMs are convenient, they are often very expensive and can charge between 10 and 20% of the Bitcoins sold, so beware! Through careful research, you may find ATMs that charge between 3 and 5%. Some ATM companies might offer an OTC (over-the-counter) service with even lower fees, though that is less common. Click here to see the ATMs available in your city.
Directly to other people
Since Bitcoin is a decentralized currency, you don’t technically need to deal with exchanges or ATMs. Instead, you may want to sell your Bitcoins to other people directly, and have them pay you through whatever method agreed upon. However, it is generally riskier and requires you to be more comfortable with Bitcoin. Moreover, it’s harder to sell bigger amounts of Bitcoins that way.
LocalBitcoins and AgoraDesk were websites that allowed people to connect with each other to conduct a transaction. Sadly, they have shut down and alternatives are getting rarer: Bisq, RoboSats and HodlHodl are among them.
My service: I can help you with your loved one’s Bitcoins
If the steps above are too complicated or you fear making a mistake, you can get in touch with me to benefit from my professional services. I don’t charge any upfront, flat or hourly fee. I charge 5 to 15% of your loved one’s Bitcoins, depending on your exact situation. Even if you are unsure if there’s anything to recover, go ahead and contact me!