Although each platform handles payments a little differently, the process is essentially the same. First, you need to register as a seller on any of these platforms and then set up your sell order. You will be notified when someone shows an interest in your offer. Some platforms such as Localbitcoins have a built-in escrow service to ensure transactions run smoothly. You can receive payment for your bitcoin via Moneygram, Paypal, cash in the mail, gift cards, bank deposits and even cash in person, depending on your preferred option. If you decide to make in-person trades, make sure you transact in a public setting and be aware of the major risks involved.