Whether you mined Ethereum or purchased it, there may come a time when you need to sell some of your supply for regular US dollars. I don’t think you’re doing anything wrong. You’ll occasionally need to pay your expenses, and most businesses do not accept crypto as payment. Using a trade using the ETH/USD pair is the easiest and most cost-effective way to sell Ethereum. In this brief essay, I’ll walk you through the selling process on three of the most popular Ethereum exchanges.
How to sell ETH on Kraken
- Sign up for a Kraken account
- You only need an email address, a username, and a solid secret key to get started.
- Validate your Kraken account.
- All you need is your name, date of birth, home country, and phone number.
- Send ETH to Your Kraken Address
- If you want to exchange ETH for another digital currency (such as BTC or BAT), you’ll need to create a store address in your Kraken account first. It’s almost as easy to keep ETH on Kraken as it is to move it to any digital money address.
- If all else being equal, you need to sell ETH for fiat money (such as GBP or EUR), you’ll need to submit your ID and proof of residence reports. Examine our various check levels.
- Sell ETH
- You can start selling ETH and other digital currencies on Kraken once your record has stabilized.
- Go to the New Order page, fill out the request structure, and click SELL. Check out our graphs to learn how to time the market for the bestselling opportunities.
If you have any difficulties selling your ETH, remember that our experts are here to assist you. Every minute of every day, our customer service team is online and primed and ready, which means you can usually reach us via LiveChat or email.
Coinbase is the most accessible platform for selling Ethereum. They offer web and flexible interfaces for selling, but I’m only going to cover the web stage here. The methods of marketing on the mobile app are nearly indistinguishable.
- To begin, create a Coinbase account and enter your ledger information. After that, you must transfer your Ethereum from its current wallet to your Coinbase wallet.
- Tap the “Get” button for your Ethereum wallet under the “Records” page. The public place to which you can transfer your assets will be displayed to you.
- Click the “Purchase/Sell” tab after you’ve sent your Ethereum to your Coinbase wallet. Then, click the “Sell” option and make sure that your money is set to Ethereum.
- After that, you can choose how much Ethereum you want to sell and confirm your transaction. When dealing with a US financial account or a USD Coinbase wallet, Coinbase charges 1.49 percent. A 3.99 percent fee is applied to transactions made to a PayPal account.
Another exchange where you can sell your Ethereum for USD is Gemini. The stage is a little more perplexing than Coinbase and is only accessible via the internet.
- To sell Ethereum on Gemini, you must first create a profile and add a ledger to it.
- Then, using the “Move FUNDS” tab at the top of the screen, navigate to the ETH store section of the stage.
- You’ll be provided a public place to relocate your stuff to.
- Click the ETH USD option under the “SELL” tab if you have Ethereum in your account.
- By submitting a request or accepting a request under the table, you can sell your Ethereum in the same way you would any other digital currency.
- When you exchange Ethereum on Gemini, the fees are determined by a charge schedule.
- Regardless of whether you’re a creator or a taker, your 30-day swapping volume determines this amount. The prices vary between -0.1 percent and 0.25 percent.
- After you’ve converted your Ethereum for USD, you’ll be able to add it to your ledger without incurring any further fees.
What to consider while planning to sell Ethereum
Before you sell your ETH tokens, keep in mind that each digital currency trade comes with a certain level of risk. Because digital forms of money are unreliable and complicated, do your homework before selling any coins or tokens. If you’re thinking about selling ETH, there are a few things to consider:
- Exchanging expenses: Examine exchange rates across various deals to see how much it will cost you to sell your ETH. Examine whether fees are different for market makers and takers or if they’re the same no matter how you look at it. These could be very costly if using a Decentralized Exchange, depending on Ethereum gas prices at the time.
- Expenses and strategies for cashing out: Consider the cost of withdrawing assets from your trade account when selecting a stage. It’s also a good idea to verify what withdrawal options are available and how long it will take for your transaction to be completed.
- Limits on what you can exchange: Is there a minimum or maximum amount of ETH you can sell imposed by the trade? Is there anything you need to be concerned about in terms of per exchange or daily withdrawal restrictions?
- Type of platform used: Will you use a centralized (easy to use) or a decentralized (for cutting-edge clients) trade? Will you have to entrust your assets to an outsider, such as a trade administrator, or will you be able to exchange a distributed setup that allows you to connect directly with another client looking to buy ETH?
- A background check is required: Consider the specific details and identification you’ll be required to provide to sell ETH on any exchange, as well as the time it will take to become a checked portion. Some steps don’t require confirmation, which is advantageous for those who value their security. In contrast, others have a complete information exchange system in place, and you may need to wait while your record is examined.
- Customer support: Remember to look into how you can contact the trade’s customer service department and whether they have a reputation for responding quickly to requests for assistance. This will ensure that you receive the help you require if your assets are late in arriving or something goes wrong with your exchange.