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The best way to sell Ethereum is through a cryptocurrency exchange. If the assets are already on the exchange, then skip to step 4. Otherwise, you will need to deposit coins or tokens on an exchange to sell on the market.
There are a variety of factors to consider when selling ETH. Before registering on an exchange, be sure to check that the asset is listed on the platform and that you can withdraw the desired fiat currency to a bank account. Compare exchanges to find the lowest deposit fees, withdrawal fees and trading fees to maximise the fiat received.
One of the most important aspects of selling Ethereum is choosing the right exchange. Different exchanges have different fees for selling Ethereum, so it is important to choose one that will maximise the amount of money you get to keep after your Ether (ETH) is sold. Additionally, if you intend to sell your ETH for fiat currency, you will want to make sure that you can withdraw the fiat to a bank account. Not all exchanges have this option available, so be sure to use the table of exchanges below to pick one that is compatible with your bank account.
If you don't already have an account on the exchange you wish to sell Ethereum on, you will need to create one before depositing ETH. Creating an account on an exchange and setting it up to sell Ethereum is typically a 3-step process that includes signing up, passing KYC and connecting a bank account. You can sign up with an email and password. You will need to submit a government-issued identification card to pass the KYC process.
Lastly, you will need to submit the details of your bank account if you want to withdraw fiat currency from the exchange.
The selling process starts by depositing your Ethereum onto an exchange. You do this by copying the Ethereum deposit address from the exchange's balance page.
Use the "copy" button provided by the exchange and never try to type out the entire Ethereum address manually. This method is prone to mistakes and could result in the permanent loss of funds. When in doubt, send a smaller test amount first before sending the rest. When you are satisfied that you are sending the Ethereum to the right address given to you by the exchange, click send and wait for the Ethereum to arrive. Each exchange waits for a different number of "confirmations" before giving you the deposit. In the above screenshot, the exchange will count the ETH as in your account after 12 confirmations.
There are several ways to sell Ethereum, but there is also a lot of overlap in the methods. So if you know the general process, then you should be able to figure it out regardless of which exchange you use. The things you need to keep in mind when selling Ethereum are the fees you're being charged and the asset you are selling ETH for.
You can sell Ethereum for fiat, but you can also sell it for most other cryptocurrencies. So the first thing you need to determine is what you're selling the ETH for. Then you can find an exchange that allows you to trade one for the other.
In order to make the trade, there are 2 types of orders you can submit to the exchange: market orders and limit orders. There are sometimes instant sell options too.
Market order: A market order executes immediately and gives you the most asset at the best price given the current market conditions. Depending on how much Ether you're trying to sell, you may get less of the other asset than you're expecting. In this instance, you are the taker in the trade and pay the taker fee. More on this later.
Limit order: A limit order allows you to set the price you want to sell your ETH for. These types of orders may execute immediately if the sell price is below the current, highest buy price. In this instance, you are the taker in the trade and pay the taker fee. However, if you set the sell price higher than the current best buying price, then you are the makerin the trade and pay the maker fee.
Maker/Taker fees: Most exchanges charge you differently depending on if you're the maker in the trade or the taker in the trade. The maker will typically pay less than if they're the taker. Make sure to check out the fee tables on the exchange reviews to compare rates.
When trying to sell Ethereum through a platform that permits fiat currency withdrawals, check to see what withdrawal methods are supported. Options may include the following:
When choosing an exchange and withdrawal method, make sure to consider the following:
The best way to sell Ethereum is subjective and varies based on an investor's circumstances. What works well for one person might not be a good fit for the next. Instead, it's about working out which option is the right choice for the individual. You can do this by asking yourself a few important questions:
These questions should help you decide how you want to sell your Ethereum, and you can then figure out which platform has all the features you need. When comparing different cryptocurrency exchanges, make sure you consider the following:
There are several other important factors, such as where an exchange is regulated and the payment methods accepted by peer-to-peer trading sites. For a full breakdown of the features to look out for, check out Finder's cryptocurrency exchange guide and discover tips on how to choose the right platform.
Ethereum is like Bitcoin in the sense that it has highly developed markets and methods for selling it. For example, most Bitcoin and cryptocurrency ATMs will also allow you to buy and sell ETH. Keep in mind that these ATMs will generally charge massive markups when buying or markdowns when selling. That being said, ATMs can be a handy option if you're in a pinch and need to quickly convert ETH into cash.
Determining exactly when to sell Ethereum is tricky. Check out Finder's Ethereum analysis page for up-to-date predictions, models and analysis tools to determine when or if to sell.
The cost to sell Ethereum depends on the exchange and whether you are the maker in your trades or taking someone else's trade. Generally speaking, you will pay somewhere between 0.1% and 0.5% on exchanges.
The speed at which you sell Ethereum depends on whether the Ethereum is already on the platform where you intend on selling it. If it is, you can sell your Ethereum in seconds. If you need to send it somewhere to sell it, then expect the entire process to take at least 5-10 minutes.
You can sell ETH instantly if it is already on a platform that allows you to sell it.
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