Selling cryptocurrencies back to cash or stablecoins at the right time can be just as important as buying in - remember the investing mantra 'buy low, sell high' and take partial profits on the way up.
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Author: Ifeanyi Egede
Donโt invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldnโt expect to be protected if something goes wrong.
Cryptocurrencies are an increasingly popular investment in 2024, their origin a product of revolutionary technology. Institutions and retail investors all over the world are clamoring to buy in as owning them is such a profitable venture. However, not all of these investors know how to sell cryptocurrency for fiat and this can represent an opportunity cost.
Moving into cash, Tether (USDT) or other stablecoins when the market turns short-term bearish can hedge your risk, protect your capital and leave you with more funds to buy the dip if one comes, or diversify into altcoins that are still uptrending. Bitcoin and all cryptocurrencies tend to have reaccumulation and distribution periods and retest support levels several times before the next ‘pump’ when price briefly spikes again.
In this guide we are going to explore the concept of cryptocurrencies and how they function, the best brokers and exchanges to sell cryptocurrency, how to sell cryptocurrency for USD, and more. We want to ensure that you are well-equipped by the time you complete reading this guide to exchange your digital assets for cash.
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Best Places to Sell or Short Cryptocurrency
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Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.
Understanding Cryptocurrency
Crypto just like the traditional fiat currencies is simply a form of money. Although its development incorporates more revolutionary technology and style, the concept strives to satisfy the characteristic of being a complete innovation to facilitate the exchange of value between individuals, institutions, or even governments.
Cryptocurrency is a revolutionary development that integrates a whole lot of features. Transactions performed using this innovation are verified and secured by the blockchain using an innovation known as cryptography.
The issuance, validation, and base of cryptocurrency is centered on a decentralized system and cannot be exposed to centralized authorities like the government, the commercial banking sector, private institutions, or any individual. The peculiarities of this concept draw into becoming a suitable outlet for the flow of personal wealth without restrictions.
Some of the features that cryptocurrencies enable include anonymity, private distribution, and efficiency. These features are not easily obtained using traditional banks or conventional third-party payment services like PayPal, Stripe, or Cash app. Cryptocurrencies like Bitcoin are considered a good store of value and a blockchain that is focused on security while other cryptocurrencies like XRP, Litecoin, Cardano, and Dogecoin are considered to be more efficient blockchains in the terms of transaction speed.
There are a lot of other native features that many blockchains offer. Primarily, not all blockchains or crypto projects offer similar benefits; a few might go out in their way to incorporate more features. These features can be targeted to a specific class of people or simply for everyone. For instance, there are blockchains and crypto networks that offer payment services for the movement of funds and cross-border payments for institutional entities.
Others are focused on delivering efficient service to the entertainment sector, while others are focused on local and international logistics to ensure that products and services easily get to the intended party without getting lost or tempered.
Blockchain technology is so revolutionary that it is capable of changing the entire systems that we are used to and installing a world governed by decentralized policies instead. Precisely, this is already in existence through the concept of decentralized autonomous organizations (DAOs).
Best Exchanges for Selling Cryptocurrency in 2024
Cryptocurrencies like Bitcoin, Ethereum, Ripple, Dogecoin, or Litecoin can be sold on several exchanges back to the original source you deposited with, or you can exchange them into stablecoins like Tether (USDT).
Selling cryptocurrency can pose quite a problem to people who haven’t tried to previously. As mentioned, it is quite profitable to learn how to dispose of your digital assets yourself without needing an intermediary aside from the broker that you are using. The basic advantage of this is you can avoid the risk of losing your digital assets along the way or being scammed by third parties. It is also important if you want to gain the actual value of your crypto without large fees that affect your profits.
Here are some of the best exchanges to use whenever you are looking to sell your cryptocurrency for fiat:
The brokers/exchanges above are some of the most popular in the cryptocurrency industry. They are prominent and indispensable for millions of investors that clamor for seamless trading as well as effortless selling. Primarily, they are structured in a way that appears friendly to novice traders and virtually everyone with an interest in digital assets.
There are hundreds of brokers and exchanges in the cryptocurrency market. However, not all of them are capable of performing the needed functions and not all of them are secure enough for high-end transactions. Experts have reviewed a couple of these exchanges and have settled in for the ones above and this is why we are disclosing them to you.
For instance, exchanges are often the big target of hackers who desire to infiltrate their security mechanisms and access the funds of users in their wallets. If these exchanges use weak mechanisms or poorly developed KYC systems, it is possible that these hackers would succeed and stash away millions or billions in user funds.
The exchanges above are dedicated to protecting user data and funds through a wide array of state-of-the-art mechanisms. They also offer high liquidity which means that it won’t pose a problem to convert your digital assets to cash at any time. Their users enjoy the quality and prompt customer support at any time. This would ensure that necessary actions are taken if a user experiences any issue when carrying out operations.
Beyond these, the majority of the above exchanges offer several methods of crypto-to-fiat liquidity via banking integrations, credit/debit cards, and secured peer-to-peer services.
How to Sell Cryptocurrencies in 2024
If you are looking to sell your cryptocurrency in USD with the exchanges above, this section would make it a lot easier for you. There are a couple of steps you must take before you would be able to dispose of your crypto assets and we are going to go over them briefly.
Own an account: To access the selling feature, you must have an account with one of the above brokers. This would give you the needed leverage to explore their services legally. You can get started by clicking them and joining as a user.
Own crypto or an active balance: You can’t withdraw any crypto if you don’t have it. To withdraw crypto to fiat, you need to deposit the assets by either sending them in through another wallet or simply purchasing them with fiat.
A withdrawal channel: You must have integrated a withdrawal channel with either a credit card or a valid bank. Many of these exchanges approve your local bank, credit cards, or third-party operators like PayPal, Neteller, or Skrill.
Now, if you have satisfied the above criteria, then you are good to begin your journey to sell your cryptocurrency. For eToro users, the steps required to sell your cryptocurrency are not enormous and you can easily execute them without losing your way. The broker eToro is a friendly platform with a suitable interface for newbie traders and access to it would encourage instant liquidity.
How to Sell Crypto – eToro Tutorial
The following steps would take you on how to sell your cryptocurrencies like Bitcoin, Ethereum, or Ripple on eToro in the most efficient, less costly, and most secure way possible.
Step 1: Input Withdrawal Channel
eToro accepts deposits and withdrawals using credit cards via Visa, Mastercard, and Maestro. These debit cards must be enabled with the function of receiving funds as well, this is the requirement for them to be added as a payment channel.
To verify your withdrawal channels, your account must be verified to provide utmost safety. You are well-advised to integrate channels that tally with your details on the platform as dictated by KYC procedures. Inputting valid withdrawal channels is one of the most important steps you should take, especially if you want to convert your cryptocurrency to USD.
Before you can withdraw funds on eToro, there must be value in your available balance where the withdrawal would be drawn from. This broker only facilitates a minimum withdrawal of $30, if you don’t have up to that in your available balance, you can check and close your active positions.
To check your active positions, click portfolio. You’ll then see a page detailing your activities, and can expand them to see more details. This broker has a Web and mobile version of its trading platforms and you can close your active positions on both. To close your positions on the Web version on a red “X” button close to the trade you wish to close.
After then, you’d be prompted with a button asking if you want to close the trade; go ahead and click that.
The same applies to the mobile application, only that you are expected to swipe left on the position you wish to close. You can also close your trades automatically using the stop loss/take profit function. After closing a position, the recovered funds reflect on your available balance.
Now that you have closed positions on active trades and the funds are now reflecting on your available balance, you can now initiate a withdrawal process that would see the funds appear in your traditional bank account or card.
Withdrawing your funds in eToro is quite a simple task. All you have to do is to click withdraw funds on the bottom left corner of the menu.
A popup window will automatically appear, detailing your available balance. Fill in the amount you wish to withdraw, having in mind that eToro charges a fixed $5 fee for withdrawals. After this choose your reason for withdrawal and desired withdrawal channel.
Understanding Withdrawal Requirements and Exchange Rates
Brokers that let users withdraw funds often require that certain conditions are fulfilled before facilitating the transaction. In most cases, the user has to be a verified member of the platform as well as using the service from authorized locations.
However, these requirements must be met before users can make withdrawals. This is in a way to guarantee the security of user funds by implementing Know Your Customer requirements. For brokers that process payments to your local bank, they must offer proper exchange rates to ensure the accuracy of the withdrawn sum. Not all brokers or exchanges offer accurate exchange rates, others might charge exorbitant withdrawal fees at a fixed rate or in percentages.
The basic requirements a broker needs to facilitate your withdrawal transactions include user verification (in some cases 2-factor authentication), a minimum withdrawal amount, a withdrawal channel, and a withdrawal fee. These requirements are primarily what eToro demands to facilitate withdrawals. Another important feature of this broker is that aside from the USD, transactions can be processed in about 14 other currencies like the EUR, GBP, AUD, RMB, THB, and IDR.
The platform also has a fixed minimum withdrawal amount of $30 and a fixed withdrawal fee of $5 making it one of the most efficient brokers that offer high-end liquidity. Withdrawn funds usually appear within one business day, in extreme cases, it does take up to three days.
Cryptocurrencies that Can Be Sold
Nearly all cryptocurrencies can be liquidated to cash; it is dependent on the broker and the digital assets that it offers. If an investor owns crypto like Bitcoin or Ethereum, they can access liquidity within the platform and have their crypto converted to fiat, which is ultimately withdrawn to their bank account.
Below are some of the popular cryptocurrencies that are subject to instant liquidity. They are often considered a great store of value and they are recognized in hundreds of exchanges.
Bitcoin
Bitcoin (BTC) is the leading digital asset. It maintains high dominance over other cryptocurrencies with a large market cap. Bitcoin is often considered the best store of value in the cryptocurrency market aside from stablecoins.
At times you may want to sell Bitcoin to cash or USDT if you think the market is over-extended, or if you want to take partial profits on a trade that went well.
Ethereum
Ethereum (ETH) is the second-largest cryptocurrency by market cap. This cryptocurrency is famous for being a utility blockchain that hosts several DeFi projects. Ethereum is a huge network and is evolving rapidly, crypto analysts are expecting it to launch into a proof-of-stake consensus very soon.
You may want to sell Ethereum if Bitcoin dominance is increasing, and you expect the Ethereum price to go into a correction.
IOTA
IOTA was a popular altcoin during the 2017 bullrun, but in recent years has underperformed Bitcoin and other projects.
Investors may want to consider selling IOTA for a new coin with more hype and potential, that can be done on eToro or Binance.
Ripple
Ripple (XRP) is a famous blockchain developed by Ripple Labs. This cryptocurrency flaunts a very scalable network and prides itself as a better alternative to Bitcoin. XRP is available in several exchanges globally and is subject to liquidity.
Read our full guide on how to sell Ripple if you’re looking to book profits on a big pump, as XRP likes to have short-lived bull cycles where it marks up in price followed by a longer bear cycle.
Litecoin
Litecoin (LTC) is considered a “light version of Bitcoin”. This blockchain is synonymous with faster transaction speed and scalability. It is among the top 10 cryptocurrencies and is available in several exchanges as well.
Read our page on how to sell Litecoin if you want to move profits back into Bitcoin, USD or another altcoin.
EOS
EOS hasn’t moved in price much for the last couple of years, it may be in a long-term accumulation range.
While it may pump in the future, some investors are deciding to sell EOS and in the short-term ride the wave of enthusiasm in smaller DeFi projects and newer altcoins, rather than hold onto their EOS position.
Kyber Network
Lesser known altcoins can be sold on Binance, the best exchange for altcoins, before they eventually get listed on Coinbase and eToro if they become more popular.
Polkadot (DOT) has seen several hundred percent gains in recent years, as one of the most popular altcoins.
If you’ve made profits investing in DOT you may want to take partial profits and set a stoploss at your entry point. Read our Sell Polkadot guide for more info.
Shiba Inu
Low marketcap altcoin Shiba Inu has seen high price gains in recent months, before correcting. Some investors have decided to take profits and sell Shiba Inu.
Stellar Lumens
Stellar Lumens (XLM) was a very popular altcoin during the 2017 – 2018 bullrun alongside XRP but hasn’t made much movement since then and underperformed Bitcoin during the run up to $65,000.
Investors may want to Sell Stellar Lumens for a new project with more hype and investor interest surrounding it.
Libra Coin
Libra Coin, also known as the Facebook Diem, is an incoming cryptocurrency pioneered by top-tier enterprises like the social media platform Facebook and third-party payment services like PayPal and Mastercard.
Currently as the project hasn’t launched there’s no way to buy or sell Libra but we can expect that to be possible on all the major exchanges.
Yearn Finance
Yearn.Finance (YFI) is an exciting project and their token almost reached a six figure valuation in 2021.
Since YFI has now corrected almost 66% some investors may look to sell Yearn Finance and look into other projects that are still in a bullish uptrend.
Crypto Taxation in the US
The Internal Tax Revenue Service in the United States is bearing down on digital currencies and it has developed a taxing structure for the industry. It is important that potential or active investors in the United States know the basics of this structure to stay on the safe side.
The tax rate for cryptocurrency for federal taxes is the same as the capital gains tax rate. Majorly, there is a classification for cryptocurrency taxes as short-term and long-term capital gain taxes. The ratio is from 10 to 37% for short-term capital gain taxes and 0 to 20% for long-term capital gain taxes in 2021.
For short-term capital gains, the tax rate is measured based on the holding period. If you hold your crypto for less than 365 days, the IRS would classify it as ordinary income and therefore subject to the short-term capital gains tax.
The rates at which short-term capital gains are charged depending on the value of your crypto and the entity holding it. On the other hand, long-term capital gains are subject to tax once the crypto has been in the individual or collective possession for a period above 366 days. The tax rate is between 0-20 percent as the actual taxing begins from $40,401.
Essentially, the IRS virtue of a ruling in 2014 classifies cryptocurrency as stocks or assets and not as currencies. In cryptocurrency, some events incur the collection of taxes in the short-term and long-term capital gains. Taxable events involving cryptocurrencies include converting crypto to fiat, using crypto to purchase goods and services, swapping or trading crypto assets (this is better seen in peer-to-peer exchanges).
Your crypto also is subject to tax if you earn crypto interest from decentralized finance, earn airdrops, crypto payments, staking pools, and crypto mining. To learn more about cryptocurrency taxing in the US, visit the IRS FAQs section.
Best Cryptocurrency Exchanges 2024
Just as mentioned earlier, there are hundreds of crypto exchanges and trading platforms. A great number of these exchanges claim to fulfill the primary functions required of crypto exchanges like offering a trading desk for the purchase and sales of digital currencies and other features. Unfortunately, not all of these exchanges fulfill the desired requirements needed by every trader, some that manage to do so often have other deficiencies.
For these reasons, professional analysts have reviewed some of the top cryptocurrency exchanges globally and have highlighted the exchanges below as the most suitable for beginners and professional traders alike.
The major distinction between these exchanges and others is their dedication to seamless trading. They’re swift and are renowned for incorporating industry-standard security mechanisms. In comparison to other platforms, they offer professional customer service to ensure that users enjoy uninterrupted services.
In the physical sense, they offer some of the best trading interfaces and the best methods to ensure that users don’t liquidate their entire portfolio in wrong trades.
Ultimately, the above brokers and exchanges are dear to newbie investors and expert traders. Interestingly, some of them offer a peculiar trading desk for beginners and a more elaborate desk for pros.
The obvious reason for this difference is to protect beginners from getting overwhelmed and thereby making costly decisions while also allowing professional traders to explore their capabilities in diverse trading techniques.
Best Wallets to Store Cryptocurrencies
Cryptocurrencies are a digital form of money and because they are tied to a value, they deserve to be secured. Crypto wallets are simply like the conventional wallets that you are familiar with but this time, in the digital aspect.
However, there are physical crypto wallets like the Ledger, users can store their crypto assets physically using it. Nevertheless, digital crypto wallets are the most popular and are widely used by several investors globally.
They function as a haven for digital assets like Bitcoin, Ethereum, Ripple, Litecoin, and others. Below are a few of the most efficient digital wallets.
Bitcoin Wallets
Bitcoin wallets are integrated into several exchanges like Binance, Coinbase, Exodus wallet, and so many more. Bitcoin wallets come with a designated address which is shared with benefactors who want to distribute Bitcoin to you.
Ethereum Wallets
Ethereum wallets are simply used to store ETH, and just like Bitcoin wallets, they are integrated into exchanges like Binance, Coinbase, Exodus, and others. They possess private keys which are needed as a sort of identification for your ownership of some Ethereum.
Ripple Wallets
Ripple wallets are integrated into exchanges as well and are used to store XRP. Depending on the exchange offering Ripple wallets, they can be used to facilitate the exchange of XRP from one wallet to another.
Litecoin Wallets
These wallets are required to secure LTC. They are native to several exchanges and are peculiar to their owners. Litecoin wallets are designed to help users transfer their LTC easily and trade them as well.
Tron Wallets
Tron wallets are used to secure TRX and can be used to transfer them from one wallet to another. Users often square down to Coinbase, Binance, Guarda, and Exodus for the most efficient Tron wallets.
Day-Trading vs Long-Term Investment, How it Affects You
Notwithstanding the sweet talks, investing in cryptocurrency isn’t always a bed of roses, it does come with a couple of ups and downs. A welcome characteristic of crypto assets is their volatility which makes them quite suitable for long-term investment or regular day trades. However, it is a decision that should be left at the discretion of the trader to make.
The volatility of cryptocurrencies displays a two-way feature. It can be detrimental to the investor as well as beneficial. Before we proceed, let’s expand on the basics of both concepts.
Day Trading
Day traders in the cryptocurrency market take advantage of the price fluctuations within daily intervals to make gains. They are often expert traders who have spent time making technical analyses and studying the development of a digital asset. They can predict the short-term future of a cryptocurrency and trade it to make profits.
There is practically no limit to the number of gains a day trader can make within a daily interval. This is because crypto can take on a massive swing within a one-day interval which can result in enhanced profits.
On the flip side, digital assets can still take on a declining trend thereby liquidating the positions of a trader and clearing substantial values from their trading capitals. Aside from the concerns of volatility, day traders are often subject to more taxes as they close numerous positions daily thereby making profits that are taxed.
Long-Term Trading
In cryptocurrency terms, long-term trading is also known as “Holding”. You can hold digital assets like Bitcoin, Ethereum, Ripple, and the rest for long or short periods. Investors hold crypto long-term if they believe in that digital asset. The motive of long-term trades is to allow the digital asset to attain its potential within the holding period.
Long-term trading might not be entirely fun but it is a great way for beginners to kick off. Investors who trade crypto long-term are somewhat protected from the Intra-day volatility as long-term trades are not closed frequently.
In the same vein, they can miss out on high profits that can occur within daily intervals. One of the biggest benefits of long-term trading is the reduction in taxation long-term traders might not need to pay taxes depending on the accrued income at the end of the holding period.
The Best Strategy
No one can decide the best trading strategy for you. You should decide by weighing your overall expectations, your budget, and of course your expertise. An investor who is occupied with a job or another time-consuming venture would likely opt for the long-term trading strategy.
This is because day trading could also be like a full time, requiring that you dedicate lots of time to evaluating the trending markets, trading them, and keeping your investments from hitting rock bottom.
Another deciding factor could be your trading volume. If you have a small amount tied to your crypto portfolio, it’s safer to opt for long-term trades with the right assets. If you decide to play in the day trading arena with little funds, the intra-day volatility would be too risky for you. It is often suggested that you allocate a small percentage of your funds to day trading while leaving the bigger chunk in long-term trades.
However, just as we recently mentioned, it is up to you to decide the most favorable trading strategy for you. The most important considerations are often connected with your availability, capital, expertise. Besides, the entire cryptocurrency market is a volatile sphere and virtually anything is bound to happen at any time.
Automated Trading in Cryptocurrency
Trading cryptocurrencies requires a lot of information, expertise, and time. Not all intending or active investors meet these criteria. To continue trading, they have to make up for the criteria they didn’t meet. Automated trading in cryptocurrency is a great way to scale a number of these requirements.
Automated Trading is facilitated by trading robots, or ‘bots’. These are programs structured to aid you trade cryptocurrencies automatically. Trading bots work with preset information and execute actions based on them. Trading bots perform market analysis, interpret the data, weigh the risks, and execute buy or sell orders at the appropriate times. For instance, your trading bot can be programmed to purchase more Bitcoin at a certain time. To do this, the trading bot without external assistance would examine the trending markets and determine whether or not it is safe to buy.
In a way, trading bots mirrors the hiring of trading experts while you focus on other things. However, the major difference is that your trading bots are active whenever you want and for however long you want, they are cost-effective and save a lot of time. Trading bots come in different types and most brokers and exchanges offer them to users. To maximize trading bots, you have to get them from reputable sources with a good history of success using them. Trading bots are very powerful and they can process large amounts of data. You can leverage them well enough since they are less likely to react emotionally to the market as regular traders would.
Some popular bots to buy and sell cryptocurrency include:
Cryptocurrencies have come a long way up in a short time. Bitcoin, the first and leading digital asset was launched in 2009 and has grown thousands of times over, benefiting investors in the long run. Other digital assets have done so too, with some sprouting up rapidly in months and some cases, weeks. This highlights the positive side of the innovation and the potentials they wield in long-term proportions. However, this does not insinuate that cryptocurrencies are entirely safe crypto is one of the most speculative financial markets in history.
There are hundreds of reports about investors that lose large amounts of money to the volatile crypto market. The reason is often that these traders rarely research the digital assets that they are investing their money into. In other cases, most investors jump in on crypto assets based on FOMO (Fear of Missing Out).
When investors are not careful enough to make analyses, fundamental and technical, they risk losing their trading capital. Since crypto is an evolving industry, it would be profitable to look before your leap to ensure that you are investing in good digital currencies with the potential to make you good returns based on your expectations.
To invest safely in cryptocurrency, here are a few measures you can capitalize on to ensure that you are protecting your funds from unnecessary losses.
Make the Best Choices of Crypto Brokers & Wallets
Whether you like the idea or not, it is a fact that your brokers and the wallets you choose determine the safety of your funds in the cryptocurrency market. For instance, if you use an exchange that isn’t secure enough, hackers could attack them and get to your assets; the same goes for crypto-wallets. You should make good choices with the cryptocurrencies that you choose. These assets must have good use cases and have the potential for long-term growth. Compare platforms to sell or short cryptocurrency below:
As prices of digital assets are highly volatile, users could lose all or a substantial portion of the value of any digital asset they purchase....
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Bitcoin
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Bank Transfer
Credit Card
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Neteller
Paypal
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Begin With Small and Clear Amounts
This rather sounds counterintuitive but it is one of the most important principles if you want to make the best of your trading journey. The volatility of cryptocurrencies could empty your portfolio as a beginner, therefore, it is only safe to explore at first with small amounts that you can afford to lose.
These amounts should be a small percentage of your income, especially as a beginner. This way you’d have a specified budget for cryptocurrency investment.
Invest in Knowledge
The cryptocurrency market is based on a sentiment most times. News, rumors, developments, and government policies affect them largely at this stage. To understand how this works, it is suggested that you invest in knowledge and ensure that you are abreast of new developments to know the stand you’d be employing.
To easily sell cryptocurrency, you should employ the best brokers and exchanges recommended by experts.
Before selling your crypto, ensure that you are a verified user of these brokers.
Setup a withdrawal channel as recommended by your broker.
Ensure that you have closed your open positions and have the minimum amount required to facilitate withdrawals by your broker.
Some brokers have daily and one-time withdrawal limits, learn about them.
Conclusion
One of the most important steps to earn from digital assets is learning how to accumulate them as well as sell them when you are inclined to. Selling your crypto could be a difficult job without accurate information concerning the right brokers to use, the best wallets to store them, and knowledge about taxes in the United States. This is simply what this guide is developed to help you with.
If you are a beginner in cryptocurrency investments, you should know when and how to get cryptocurrencies. Specifically, trading might be an uphill task if you are not an expert or well-informed. Some brokers make it easier for their users to make better decisions by availing them of the necessary tools they need at the right time. These exchanges and brokers highlighted above are some of the best in the cryptocurrency industry.
Our recommended best exchange to sell cryptocurrency in 2024 is eToro as they are regulated internationally and support withdrawals by bank wire, VISA, Skrill, Neteller and a range of other methods.
Update 2024 – Going forward, the only cryptocurrencies eToro customers in the United States will be able to trade on the platform will be Bitcoin, Bitcoin Cash and Ethereum.
FAQ
How Can I Sell Cryptocurrencies?
To sell your cryptocurrency, you need to have them in an exchange or a wallet. Cryptocurrencies like Bitcoin, Ethereum, or Ripple can be sold via an exchange platform or peer-to-peer. However, the simplest way to do this is to sell them within an exchange and divert the fiat to your local account at your discretion.
What are the Best Brokers for Cryptocurrency Trading?
We recommend eToro, Coinbase, Binance, CryptoRocket and Changelly as the easiest-to-use fiat gateways. They accept the most deposit and withdrawal methods to buy and sell cryptocurrency.
What Cryptocurrencies Should I Sell?
You can virtually access liquidity on nearly all crypto assets. Nevertheless, some traders might choose to transfer their digital assets into more conventional digital coins like Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin SV, and Stellar to get high liquidity. This is because these cryptocurrencies have more of a solid foundation and are less likely to decline so much in little time.
How Do I Know When It's Best to Sell Cryptocurrencies?
The best time to sell cryptocurrency should be the choice of the investor. You can sell your digital assets when you have attained your expected profit level. For day traders, they sell their crypto multiple times within a day and buy as much too. Long-term holders can also sell their digital assets if they feel that the value is good enough to be considered as a profit. Cryptocurrencies can also be sold at your convenience, as a means to get some quick cash by transferring them to fiat.
How Do You Buy and Sell Cryptocurrencies?
Brokers offer you a long list of features including the purchase and sale of cryptocurrencies. To buy them, you must be a user of the exchange, input funds into your account, then search for the asset of your choice and proceed to open a buy trade.
How to Sell Crypto for USD?
Most crypto brokers permit withdrawals straight to your local bank and local currency. eToro is one of the best brokers that offer liquidity in USD to US users.
Ifeanyi Egede is a veteran cryptocurrency researcher and freelance writer based in Nigeria with published works on Bitcoin.com, BSC News, and a range of other sites including here at InsideBitcoins. He has also worked as a technical writer for DappRadar, researching NFTs and gaming crypto projects, and has contributed several articles to CoinMarketCap. Ifeanyi graduated from the University of Benin,…
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