Looking to cash out your Ether coins or want to exchange it for other cryptocurrencies? Let’s read this article and find out the ways to Buy or Sell Ethereum for fiat or cryptocurrency. If you are wondering how to sell ethereum for cash, crypto or tokens, let us tell you it is really easy, and one can simply do it by signing up on a crypto exchange.
Crypto exchanges allow you to sell, buy and trade the top cryptocurrencies. You can either sell Ethereum for USD or any other fiat currency such as EUR or exchange it for other coins such as Bitcoin, Ripple etc. Both methods have their own benefits; for example, exchanging Ethereum for fiat is quick and more convenient; however, trading it with the top cryptocurrencies like Bitcoin can get you high returns.
How to Sell Ethereum for Fiat Currency?
The first step is to find out an exchange that accepts Ethereum cryptocurrency for fiat currency. You can look out for top exchanges such as CEX.io, Coinbase, Kraken, Bitfinex, and Bittrex. Apart from these exchanges, you can also list to buy or sell Ethereum on trading platforms such as LocalBitcoins. Make sure you check all the details of the details, including trading charges, features, and limits and compare it with each other.
Once, you select the exchange on which you would like to sell your Ethereum, provide your details to create an account and then complete the verification if necessary. To keep your account secure from hackers and phishing scams, do turn on 2-factor authentication then only proceed further.
Now that you have an account in crypto exchange, the next move is to deposit your Etheruem coins into your account. To transfer your Ethereum from your wallets, you would need to create a deposit address on the exchange first, and then you can transfer your holdings to that address. Simply sign in to your Exchange account and go to wallet section. Select your Ethereum wallet and generate a deposit address and complete your transfer.
It’s time to sell out your holding. To do so, head to the trading page and choose the trading pair for which you want to exchange your cryptocurrency. Most of the exchange support ETH/USD only, however, there are others like Kraken that also supports ETH/EUR, ETH/CAD, ETH/GBP, ETH/JPY ETH/BTC, ETH/ETC, ETH/EOS, and ETH/GNO. After selecting your trading pair, enter the amount of Ether you are willing to sell out. Make sure you confirm all the details provided before you click on sell and confirm the transaction.
Now that you have sold your Ethereum holdings for fiat currency don’t forget to withdraw the cash. Transfer the acquired fiat currency into your bank account. Before you do so, check out the limits and fees for withdrawal.
How To Buy or Sell Ethereum For Cryptocurrencies?
Like we said above, to buy or sell Ethereum or even any other cryptocurrency, you need to have an account in a crypto Exchange. In case, you want to sell out your Ethereum holdings from the same exchange you bought it; you can skip this step. However, it isn’t mandatory, and you can sell your holdings to any other exchange wherever you think you would be benefited. Make sure you compare the features, fees and other such aspects of the exchange beforehand and select the best exchange. Being the second-largest cryptocurrency, Ethereum is supported on almost all the exchanges and with most of the trading pairs, so you wouldn’t have any problem finding an exchange.
As soon as you decide where to open an account, register on its website with your details and then verify your identity. Keep your security high by enabling features like 2FA before transferring any funds to your account.
In the next step, you need to transfer your ETH holdings to your exchange account. Use your exchange’s Ethereum wallet address and then transfer the tokens from your old wallet to this wallet.
As soon as your coins are transferred into the Exchange’s wallet, you can look for the trading page. There you would have to select your trading pair such as ETH/BTC and then enter the amount of Eth you want to sell. Check out all the details you’ve filled and then submit your payment.
Transfer the Bitcoins you’ve recieved into a private wallet. While exchanges provide wallets, we don’t recommend you to keep your holdings into it for the long term as there are instances of hackings. We suggest using cold storage wallets as they are the most secure among all, although you can also use software wallets that store your private keys offline on your devices only.
So, these were the steps that will help you sell out your Etheruem coins for cash and cryptocurrency. Whether you are planning to buy or sell Ethereum or any other cryptocurrency, the procedure is going to be quite similar to it. You would need to transfer your fiat currency into a crypto exchange and then buy cryptocurrency using them.
Before you buy and sell Etheruem or any other crypto asset, make sure you do detailed research about the exchange from where you are planning to buy or sell it. You need to look out for various things such as trading fees, withdrawal fees, transactions and withdrawal limits, trading pairs supported, cryptocurrency supported, verification procedure and the time taken in it, and at last the customer support.
To stay protected from scams, do take your time researching about the exchanges, and crypto-wallets before transferring your funds into it. Don’t just select an exchange or wallet randomly as you can risk losing your assets. Some of the best wallets to store your cryptocurrencies are Ledger Nano S, Trezor, Atomic Wallet, Exodus. Read our review about various well-reputable crypto wallets to find the one best for you.