How To Sell Kyber Network (KNC) 

Generally, cryptocurrencies are interesting to study. They are unpredictable, spontaneous, and ever-changing. This affects the services in the industry. The exchange industry up until 2017 was completely ruled by brokers. That is, at every instance, brokers set market rates. All exchanges will be carried out at the set rates and everyone seemed to be cool with it.

This dynamic was disrupted four years ago when the curious founders of Kyber Network created it. It is the first exchange to have rates that cannot be influenced by the broker. Rather, the rates are determined by the system.

A little bit of research into the biography of the company’s founders shows that all three co-founders have had long-standing experience in technology, blockchain, and crypto. They came together combining their expertise to birth this masterpiece.

Of course, the creative move was rewarded with a lot of attention both online and offline. It is reported that they raised a whopping $52 million from sales of the coin at its initial offering. The series of events rang loud bells in the ears of smart investors.

Many people have joined the team of enthusiasts dedicating huge parts of their portfolios to its purchase. The platform is hosted on the famous ethereum’s blockchain. This has resulted in the high fees associated with KNC transactions.

Kyber Network Crystal holders can make their voices heard when it comes to the runnings of KNC. They can vote in certain policies that would govern their management. Investors who sell their Kyber Network crystals are given a corresponding value of ether.

The crystal will surely grow to create a space for itself as one of the top cryptocurrencies at some point. The momentum of its growth in such a short while is clear proof. A majority of crypto investors have this on their portfolios already. Many are wondering how best to make a profit from holding the crystal.

Though there are several ways to reap heavy yields from any crypto investment, profit does not come easy. This is due to the many obstacles that investors may encounter. One of them is ending up trading on a bad brokerage site.

Investors will surely sell their crystals for USD or cash at some point. After the long patience and hard work of watching the investment, some bad industry practices steal away heavy chunks from a trader’s profit.

To avoid such scenarios, we created a list of brokers you can make use of whenever there is a need to sell. These brokers have been carefully vetted by experts. The reviews left by their users were satisfying.

• eToro
• Capital
• Libertex
• Plus500
• Coinbase
• Binance
• AvaTrade
• Revolut
• CryptoRocket
• Changelly

The above-listed brokers are highly reliable. They follow the finest standards in the industry. You can be assured that trading on any of these sites is problem-free.

Tutorial On How To Sell KNC in December 2024

Selling cryptocurrency such as KNC is very easy. Within a couple of minutes, a trade can be executed and the user will be given the due exchange. The difficulty some traders are faced with springs from the methods used.

Every brokerage site has its own rules which must be followed to enjoy trading on the platform. Then, the issue of timing. Investors need to be expert calculators and masters when it comes to adapting to the constant changes in the market.

It is the only way they can make solid decisions that guarantee a profit on their investment. This aspect of the selling process will be covered in a later section of this guide. For now, we would be looking at the five basic steps to successfully place a sell order.

We would be using the eToro platform as a case study. This is because most traders sign up on eToro when starting. Our research also showed that it is a common choice among expert and contract traders.

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.

Step One – Purchase KNC

On your chosen brokerage site, you would have to fund your account before you can sell it. Before all of that, an account must be created. The account creation process is very simple on eToro.

First of all, type the website URL in any of your favorite browsers. You will be taken to the website’s homepage. The signup button is displayed at the top of the page.

Hit the sign-up button and fill in the prompt’s requirements. A few personal details will be requested like your legal first and last name, as well as your email address.

Ensure that the names provided are your official names as pen names are not allowed. The email address entered should also be verifiable. Email address verification cannot be bypassed when creating an account.

Click on the link sent to your email address. It will take you to the website’s home page. Here you can access your portfolio and start funding your account.

Certain restrictions are placed on incomplete profiles. On your account dashboard, you will see this displayed at the left of the page. It is necessary to complete your profile and account verification before diving into the selling process.

Select the button that shows an incomplete profile. A new page will pop up. You would find spaces for more specific details like country of residence and nationality. Fill in the spaces accordingly.

Lastly, you must submit valid documents to prove that the details provided are indeed correct and you can be contacted via them. This will require a government-issued identity document and proof of address. After this, you will have a fully verified account if your documents are accepted.

Submissions are rarely rejected. If you face such, consider reading the details provided under your country and try reapplying. As a last resort, contact the customer service department for support.

Account funding is swift once verification is complete. Investors that intend to move their KNC from an external wallet to the account’s wallet can make use of the wallet-to-wallet feature. This method of transfer is swift.

First-time investors find the buying process easy. Payment can be made via a variety of payment channels. Funding is instant after the transaction is processed.

Buy KNC on Binance

Step Two – Devise A Strategy For Selling

A selling strategy contains the total value of your portfolio, length of investment, and period for selling. This functions as a map. It serves as a guide while navigating the market.

There are several flying predictions around the prices and future turns KNC can take. It is easier to approach these predictions calmly when there is a strategy in place. This will demand frequent market analysis.

To pull this through effectively, the supposed investor must assimilate the right knowledge. There are lots of courses on eToro that cover price chart interpretation and market analysis. These materials can be helpful in this regard.

Also, there are a bunch of handy analytical tools to carry out analysis successfully. These tools range from charts to graphs, indicators, and calculators. They are available to all traders on the platform.

Step Three – Estimation Of Asset Value

Looking to sell your asset without having a rough estimate of what you will be getting in return is not the best way out. As prices fluctuate daily, investors need to know what their assets are worth. This will help in adjusting the selling strategy where needed.

Knowing the total value of your KNC will let you know if you have reached your target or not. This will be a big factor in determining the time to give up your investment for a fiat currency. It is almost impossible to know when an investment has matured if there is no value to hold on to.

All brokers have a requirement that the value gotten from exchanges should exceed a certain limit before withdrawals can be processed. To escape a withdrawal hitch of any kind, it is necessary to place an order for an exchange that yields this amount or more.

Just in case you are thinking you have to do the maths yourself, you don’t. The system has taken care of this for you. Simply hit the icon with three dots at the left and a page with a portfolio button will be displayed.

Select the portfolio button and then pick the asset in question. The total value of the coins at that particular moment will be displayed. It is essential to do this before carrying out any kind of exchange.

Binance Overview

Step Four – Trade Execution

Trade execution is the most crucial step in selling. Without an order, no trade will be carried out. The value of placing the trade at the best time cannot be overemphasized.

To place a trade and seal the deal, navigate to the portfolio section of the dashboard. Select KNC from the list. You will be taken to a page where the sell button is. By clicking on it, the trade will be activated.

The equivalent value of your KNC is deposited in your account. This is sent to you as whatever you opted for, either a chosen fiat currency or stable coin. The entire process lasts a couple of minutes.

Trade execution on Binance

Step Five – Withdrawal Requirements And Exchange Rate

The withdrawal process takes a few business days if all the rules are followed. It could take longer if your account is not verified. You will be asked to verify before you can receive your funds.

The withdrawal button can be found at the left of the screen after clicking on the icon at the top of the page. Fill in the amount you wish to withdraw and the chosen currency. It is at this point you decide the most convenient channel you wish to use.

There are many channels available for different countries. Go for the one with the one that is the most convenient with the least fees.

Crypto Taxation In The US

All US citizens know how valuable taxes are. The Tax department does not slack when it comes to ensuring all wage-earning citizens pay their tax. However, when dealing with cryptocurrencies both parties are left confused.

Citizens are not sure if taxes are to be paid. The tax department on the other hand has not enforced any formal rule with proper consequences attached.

The bill proposed some time back was meant to place strict taxes on the buying and selling of all crypto. It is clear that if this is to be implemented, exchanges that work in the country would have to comply. Yet, there are no such activities right now.

While we wait for a formal hearing on this issue, investors who are US citizens should acquaint themselves with the methods used in calculating taxes. This makes it easy to prepare mentally for future obligations. It appears the bill will be enacted sometime in the future.

Best Crypto Exchanges to Sell Kyber Network

The process of vetting the countless brokers available is no doubt very daunting. We know how important it is to work with a professional exchange service. Experts in the industry have taken out time to analyze the services on the existing brokerage sites.

At the end of the survey. They found the following sites to be different from the others. All the services on these sites are effective and efficient.

• eToro
• Capital
• Libertex
• Plus500
• Coinbase
• Binance
• AvaTrade
• Revolut
• CryptoRocket
• Changelly

They follow the best industry practices and share a customer-centered culture. Provisions have been made to cater to the trading needs of their users.

Storing KNC In The Best Wallet

There is no best wallet for storing coins and most point-blank recommendations are widely subjective. There are two broad categories of wallets. Each type has its unique pros and cons.

The hot wallet relies on virtual storage systems. This storage type requires a constant internet connection especially if the trader would be making constant transactions. It is believed to be the least safe type.

There are records of traders losing their coins to mean hackers. Many believe a storage method that does not require constant internet access will prevent such loss. This method of storing coins is more expensive as this software may cost a few bucks.

The cold wallet is a storage method where external physical drives are used for storage memory. This method does not need a steady connection to the internet. Although accessibility is poor with this style, the drives used in storage may also cost a few dollars.

Each method is efficient. The hot wallet is more vulnerable to attacks from thieves while the cold wallet can be physically damaged unknowingly. They both require lock codes that should not be disclosed to anyone.

It is easier to retrieve a lost lock code with a hot wallet compared with a cold wallet. But, the cold wallet is more reliable when storing large investments.

When Is The Best Time To Sell Kyber Network?

Fluctuations are common to all coins. From an analysis of 24 hrs charts, you will see that coins rise higher at certain times before falling. When an investment time elapses, traders target price highs to sell their coins.

Everyone says patience is a virtue but that belief may not always be true in dealings with cryptocurrencies. The language they understand is constant devotion and smart choices. Only the very best become successful crypto investors.

All investors must design their selling times and strategies. This is easy to do after proper study and in-depth analysis.

Predictions from industry experts should serve as guides during the process. Be mindful of the kind of experts being followers though. Some predictions are not focused on profitable selling.

To fill in for that, this website updates its blog section with helpful predictions from popular experts. Investors can read through them during or after their analysis.

Price Of KNC

Currently, KNC is trading at a price range of $1.36 and $1.59. The price is growing gradually at an exponential rate. After its upgrade, it quickly picked itself back up positioning as the #252 coin by market cap.

It has a circulating supply of over 178 million and a market capitalization of over 255 million. It has a lot of vigor and ardent enthusiasts are rooting for its growth.

There are many speculations about what its price will be in the next five years. It can climb over $5 based on some popular predictions. The market may be unpredictable but its potential is certain. This makes it a worthy investment any day.

Guide to Automated Trading

Automated trading is a trading technique where traders make use of bots in executing trades. The relevant data is inputted into the bots. They follow these codes in executing trades at the set frequency.

Some traders merge the copy trade feature with automated trading. This relieves them of the trouble of coming up with the codes for the bots to follow. Strategies used by expert traders are simply copied and encoded.

This is a highly sophisticated feature and all traders are welcomed to try it out. It is a great way to raise one’s profit from trades. The beauty of it is that very little time will be spent.

All the trader needs to the cautious about is the direction the market is going. When certain changes become unfavorable, the trader needs to be swift with analysis to adjust the codes. This goes a long way in preventing loss. Apart from this, automated trading is a wonderful way to execute multiple trades in a short while.

Bot programs can involve risk – those interested should only deposit a small amount at first to test them out and avoid bots we’ve blacklisted on our trading robot page. These are some bots we’ve reviewed:

• Bitcoin Miner
• Bitcoin Prime
• Bitcoin Trader
• Cryptosoft

How To Invest Responsibly In Kyber Network

KNC is a promising investment. All predictions point towards its price spiraling in the next few years. The reflex action is likely to invest as much as possible without really calculating the probability of a tumbling action.

Consulting a financial advisor before making any investment may be a good choice. The finance professionals will help you look over your finances to decide how much can be allocated to the KNC purchase.

Irrespective of how financially buoyant you may be at the moment, don’t go investing what you can’t afford to lose. The market is run by uncontrollable factors. A couple of bullish movements can disorientate the ongoing movement.

A quick disclaimer, this is not a prediction that the coin will lose value soon but rather an admonition to invest wisely without being greedy. The basic rule is investing a maximum of 15% of your total portfolio on crypto. If you are enthusiastic about other coins, do the maths and share your funds evenly.

Should I Sell KNC in 2024?

You can decide to sell your coin at any time you wish. In 2024, or next year or five years from now can be very profitable depending on the approach. This is why all investors must continually study the market for themselves.

Whenever you chose to sell your coin for USD, cash, or a stable coin, be patient enough to take note of the following before selling.

• Your timing is accurate. Take your time and never make a rash exchange
• Profits have been weighed objectively
• Adjustments to the selling strategy were not born out of greed

Summary

Kyber Network Crystal is one of the latest crypto inventions loaded with great potential. It is a fine investment choice for crypto investors. The rule remains the same, be cautious and calculative before making big moves.

The right dose of patience and discipline are core values a trader should imbibe if the goal is to be a successful investor.

Our recommended best exchange to sell Kyber Network in 2024 is eToro as they are regulated internationally and support withdrawals by bank wire, VISA, Skrill, Neteller and a range of other methods.

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