How to Sell Ethereum (ETH)

Trading Ethereum is profitable. It would be best if you started planning how to accumulate and hold your ETH until it is the best time to sell. You can gather ETH in your wallet by purchasing tokens or earning ETH as a miner. When it is time to sell your ETH, you will need to find a business that accepts cryptocurrency as payment for goods you want. There are other ways to exchange your ETH to gain from your investment.

Focusing on ETH is a good idea because you can become a source for businesses or people who need ETH consistently. In this guide, you will learn about all the ways to trade your ETH after the price has appreciated to a level you targeted.

Selling ETH to exchanges

You can choose to sell off your ETH to exchanges. This is a simple process. First, you do a search to find exchanges in your region. Next, you should follow the steps to register an account. When this is done, you can link your bank account to the exchange and provide information specified on the platform, such as full name, contact information, and date of birth. When this is done, you can sell your ETH on the exchange.

To sell your ETH on an exchange, you need to locate the wallet services, find the feature to sell, or it may be an option to make a deposit. Click on this option to select, and you will be given a wallet address. Enter the value of ETH you want to send, and the transaction should be completed quickly.

It is advisable to review your transaction details before you give the final authorization to proceed with the transfer of ETH. Exchanges put up your offer on the platform, and anyone who needs to buy ETH sees it and accepts the trade. You can take a faster route by searching for existing offers to buy ETH on the exchange. The exchange rate is calculated based on the market rate and the volume of ETH you want to sell. Also, you could get better rates if you have been using the exchange for a long time.

After a transaction is completed, within three days, you will find the money value in your bank account if you have sold your ETH for the currency used in your country.

It is possible to withdraw fiat currency from an exchange. However, this action comes at a price that is determined by the exchange platform. The fees differ, so make a comparison before selecting an exchange to use for your transactions. You can find information about fees charged on exchange platforms by viewing FAQs or a table showing the different services and fees.

Selling ETH via Peer-to-peer trading

You can sell your Ethereum at a good price without having to enter bank information or pass a verification process. You only need to locate platforms that allow peer-to-peer cryptocurrency transfers. The transactions are decentralized, and you can use an escrow service through smart contracts if you do not feel comfortable sending your ETH first and waiting for payment.

One of the popular peer-to-peer marketplace for ETH is localethereum.com. Here you can make an offer for deals and put your ETH up for sale. There is a 0.25% fee charged for all transactions on the platform. For additional precaution, you can request to meet a buyer in person via the messaging feature on the forum. Also, there is a service called Meetup, which is a platform that organizes local meetings between people who want to buy and sell ETH.

Peer-to-peer ETH sales is generally done between individuals. You can hardly find corporate companies in the peer-to-peer crypto marketplace. This means you should take extra precautions when dealing with strangers on the internet. Everyone interested in buying your ETH should provide public addresses, which you can check and always agree on the exchange rate before proceeding with the deal.

Physical meetings to buy or sell ETH should be arranged in a public and safe place away from your home or office. If you feel uncomfortable about the deal, you can always back out. And go with a friend as an additional precaution. Also, charge your smartphone battery and ensure you have good internet connectivity to confirm transactions before leaving the meeting.

Tips for Trading ETH

Holding

To get more profit from selling ETH, you should aim to buy low and sell high. It is usually a long-term sales strategy used by many crypto traders, but it is worth your time. You buy ETH at a low price and hold your coins until the value appreciates, then you can sell to make a profit.

Many investors choose to hold Bitcoin or Ethereum when they want to invest in the long-term. The values of these top two cryptocurrencies are subject to market volatility which changes the price, but it is worth the wait. A large number of people who have been holding BTC and ETH for years are fortunate because they can make so much money as profit if they sell now.

To use this strategy, buy your ETH tokens and keep them safe. Next, you can monitor the crypto market until the price appreciates, and then you sell. The holding method of investing in ETH is less stressful, you save money by avoiding multiple transactions, and the maintenance fee for your crypto investment portfolio is affordable.

However, there are some risks when you buy and hold ETH. For example, you will miss opportunities to earn significant profits during sudden appreciation in crypto prices. Also, there could be a crash in the price of ETH, which means you lose money on your capital investment. The ETH price crashed significantly after the widely publicized DAO hack, which led to an Ethereum hard fork. Since the hack happened, the value of ETH has appreciated considerably, and investors are making so much money from their trades.

After holding your Ether for a while, you can decide to offload all your tokens in one deal or sell off gradually. It is best to learn how to speculate the market to make more gains from holding and selling ETH. For example, with experience, you can learn to determine when ETH prices may crash and make quick decisions to sell off to secure your profit before the value drops.

Selling ETH through active trades

Actively trading cryptocurrency is similar to the regular trading of stocks. It is a long-term activity that could yield a profit if you know what to do. However, investors who need to make quick profits may not be patient enough to reap the gains of this strategy. Also, the crypto market is volatile, which means losses during trades could happen often.

You will need to invest your time to perform active trading. The significant time investment is due to the lengthy process of monitoring the market price for ETH, daily changes in price, reading-related news, and other materials related the ETH pricing.

Your goal during active trading is to buy low and sell your ETH when the price has appreciated. You should find a good source to view the exchange rate, which also shows the changes in price over time. Also, there are trading tools for you to get alerts about price changes, and when it reaches a value, you can sell and make a profit. You may be required to sign up as a paid user to leverage these features of a crypto trading tool.

Leveraging bank currency to secure profits

You can secure significant profits if you find a way to hold your bank currency after cashing out from the crypto industry. However, many exchanges are aware of the differences in fluctuation rates, and they compel you to withdraw your funds after ETH has been converted to your local currency. To beat this system, you need to find a tool to hold your assets at a profitable exchange rate. It is called Tether.

Tether is a cryptocurrency that has been created to enable traders to exchange it with another crypto because its value is pegged against the US dollar. This means you can get significant value for your crypto when you exchange it for getting Tether at the equivalent rate of $1. It is a good move to exchange your ETH for Tether and hold it until the bank rates appreciate or until you are ready to invest in the crypto market again.

Selling Ethereum mined from Pools

Mining pools are groups that provide a platform for experienced or new investors to mine ETH. To sell your ETH in a pool, you will need to sign up, you will be assigned an address to receive your profit from mining ETH, this is a number of tokens for your effort. You can sell your token reward on the pool to other people who are interested in it. To do this, you should create a local wallet where your token reward is sent. When you find a buyer, all you need to do is transfer your ETH to the buyer’s local wallet on the exchange.

It is expected that more ways to sell ETH will be introduced soon. Till that happens, please feel free to explore any of the methods described in this post.