Would you like to know how to sell cryptocurrency? Even if you are already seasoned in the trade, there is always room to learn something new. However, newbies and those who wish to try cryptocurrencies someday have a lot to learn.
Learning the ropes may take a little more effort and time, but it is rewarding, especially if you intend to trade for profit. Others want to know how to sell cryptocurrency to avoid the challenges and risks associated with it.
Popular Cryptocurrencies to Sell
Buying and selling cryptocurrencies go hand in hand. You need to buy or receive crypto for you to sell it. Before we learn how to sell cryptocurrency, it is crucial that you know the popular coins you can sell.
- Bitcoin – As the most popular cryptocurrency on the market today, you can expect that it has a high demand. So, if you have any with you now, plan to sell them through a reputable platform.
- Ethereum – This digital asset is also very popular these days. Its price against the US dollar is going higher every day. Hence, it is a lucrative coin to sell.
- Binance Coin – Although Binance is popular as an exchange, it also has a cryptocurrency associated with it, and you may decide that this is what you want to sell.
- Tether – Stablecoins are becoming popular among people who are looking for how to sell cryptocurrency because they have lower volatility. Tether is one of the best options.
- USD Coin – This is another stablecoin that you may want to consider selling today. It is popular among seasoned cryptocurrency traders and newbies as well.
How to Sell Cryptocurrency
Are you curious about how to sell cryptocurrency? If yes, then this is the part you have been waiting for. We will give you a detailed guide on the process before discussing the popular platforms to use.
Get a cryptocurrency wallet
Most likely, people who want to sell cryptocurrencies already have them in their digital wallets. But if you’ve not started yet, ensure you have a digital wallet before you buy your first coins. A digital wallet is a virtual wallet or program or app that gives you access to your cryptocurrency. This is where you will store your coins before selling them.
Make an account with an exchange
As you learn how to sell cryptocurrency, you need to choose an appropriate exchange or platform and register for an account. This will help you sell conveniently, especially if you plan to do it regularly. It is also a great platform to top up your coins and buy for future selling. NakitCoins is one of the popular exchanges you can trust with your cryptocurrency selling efforts.
Check cryptocurrency prices and commissions
The platform you have chosen to sell your cryptocurrency should give you all the information you need to sell conveniently. First, there is the listed value against your preferred payment, for example, the local currency or other coins. Also, there is a calculator to help you know exactly what the transaction looks like. So, use it.
Initiate the selling process
Hopefully, you are learning how to sell cryptocurrency like a pro. Now that you know what the transaction will look like, it is time to initiate the selling process. Selling on a reputable exchange or platform is instant, and you will see the payment on your account in readiness for withdrawal. Advanced platforms may send the payment directly into your bank account as well.
Withdraw from your cryptocurrency platform account
If your payment has been credited to your exchange account, you should withdraw it into your bank account or any other online account. This is a simple process you can achieve within a few clicks.
With these steps, you now know how to sell cryptocurrency like a pro. As you can see, they are simple, especially when you use a reputable platform. If there is anything challenging, talk to an expert to walk you through it.
Different Platforms to Sell Cryptocurrencies
Buying and selling cryptocurrencies is called exchanging or trading. Now that you have learned how to sell cryptocurrency, it is worth knowing where to do it. Exchanges are not the only places to sell even if they are very popular. Check the following options.
- Online CEX platforms – These are the centralized platforms that are very popular because they have enough liquidity to offer instant transactions. They are convenient and hardly disappoint. Most of them require you to have an account with them to sell cryptocurrencies. However, they charge according to the coin you intend to sell as well as other factors.
- Online DEX platforms – Decentralized platforms work a bit differently. They connect a seller to buyers, which may take some time when you list your cryptocurrency for sale. However, popular DEX platforms have a big user base, hence being matched with a seller is relatively fast. As you learn how to sell cryptocurrency, you should consider working with platforms that are quick.
- Physical exchanges – This is an exchange that works like a bank and has an agent to help investors who are looking for how to sell cryptocurrency. You can check for one that is near you so that it is easy to walk there and transact. Just like other exchanges, they charge a fee for the services.
- Cryptocurrency ATMs – Lastly, you may use a crypto ATM such as a Bitcoin ATM to sell your digital coins. These kiosks are self-service machines that you can use at any time. Basically, they list many cryptocurrencies and their selling rates plus the commission. Like the CEX exchanges, they are instant, so you will see the payment gets credited to your account immediately.
Final Thoughts on How to Sell Cryptocurrency Like a Pro
Have you learned how to sell cryptocurrency? From all the insights we have shared, even a beginner can do it like a pro. The only other important thing to bear in mind is the precautions to take while selling cryptocurrency. You can check for more insights on these from a reliable website or consult with an experienced cryptocurrency trader. All the best.