Selling Ethereum - everything you need to know
Whether you bought it or mined it, sooner or later you may feel that the best thing to do is to sell Ethereum. You may have acquired it in the first place to trade it, you may have other reasons for doing so, but if you have, you'll want to know where, how and when to sell. This article will help you do that.
Selling Ethereum on the crypto exchange
If you have acquired Ethereum (ETH) through a purchase, selling it will be easy as you know the platform to use: the crypto exchanges. These are the best place to sell ETH for beginners and experienced users alike, as the whole process is like buying, but in reverse. You should check the profile of the exchange you choose first! Some are more geared towards handling higher trading volumes, so they are more suitable for large investors and traders.
First decide whether you want to exchange your Ethereum for fiat currency or another crypto! You can either announce that you are selling your ETH, or you can look for existing orders. In any case, it's worth keeping an eye on fluctuating exchange rates.
Or you can automate the sale with our spot bot, for example, which makes it really easy to complete the transaction.
You can also exchange, but one of the main difficulties of selling Ethereum is the slow verification process. This is because you have to upload a large amount of documentation and wait for your account to be reviewed. Also, you may not like the fees or taxes charged for an open sale.
If you fancy a more informal alternative, you can try your luck on a peer to peer trading platform, which is the fastest way to sell Ethereum. This allows you to sell your ETH on a decentralised platform without intermediaries. As these networks use smart contract technology to execute transactions, it is worth familiarising yourself with this beforehand to better understand the trading process.
Either way, before you confirm a transaction on your side, make sure that your partner has the agreed funds and is ready to confirm the transaction. Also, always double check the details, the amount to be sent and the current exchange rate before pressing the button!
Some more tips
When it comes to Ethereum selling tips, it all depends on what your goal is and whether you're looking for a long or short-term profit.
Professional trading requires a high level of crypto knowledge. If you don't want to dive in that deep, but you don't want to miss out, choose our software packages that make trading a whole lot easier!
If you use a buy and hold strategy, remember that you don't have to sell all your tokens. You can wait for the price to skyrocket and sell them in tranches.
Watch the prices by studying the Ethereum related exchange rates!
Monitor all developments related to the platform itself to avoid losses!
We hope that you now have a clear view of Ethereum selling options and after reading our article, you can easily decide which one is best for you. If you have any further questions on this topic, feel free to contact us!