AVAX came into the game as a substitute for the Ethereum blockchain. It offers decentralized asset trading, which is accessible by anyone but still secure. Avalanche provides a better handle on scalability issues than Ethereum. The network’s unique position suggests that it would remain in the market for a long time. Especially because Avalanche provide the fastest execution of smart contracts.
Avalanche is an output of two prominent personalities. One of them is a computer scientist, Emin Gun Sirer. while the other is an associate professor. This project started in 2018. The idea was initially on a digital currency called Karma. This made the project one of the earliest conceptions of cryptocurrency. The name metamorphosed into Avalanche after a paper titled ‘Snowflake to Avalanche’ was published. This surprising and increasing attention then also stimulated the creation of Ava Labs in June 2018.
A lot of research went on for the next 2 years. Emin and his team decided to provide a revised edition of the ‘Snowflake to Avalanche’ paper. This came more as what is now known as a whitepaper. The development continued as there was a collaboration with Team Rocket.
The increasing relevance of AVAX in the market stems from the bottlenecks that it eliminates. The Avalanche network proposes a system that would overcome the different cryptocurrency protocols and regulations. An important element of the Avalanche system is the use of a proof-of-stake consensus algorithm. Beyond the increased speed of execution, there is also less energy consumption.
Despite the utilization of the native consensus network, users can still develop dApps. The network allows smaller ones by users provided they have the proper structure. The Avalanche network constitutes multiple blockchains and can process over 4000 transactions per second. The Avalanche network combines consensus mechanisms. This combination ensures security and speed, thereby accruing more value to the AVAX token.
The primary objective of the Avalanche network is to serve as a universal platform. The idea is to house operations involving different financial assets and activities. This system supports services like peer to peer lending, trading, and the creation of smaller networks.
Also, to achieve the self-acclaimed term of ‘Internet of Money’, it is offering new opportunities for the developers of dApps on the blockchain. As earlier established, AVAX has been attracting a great level of demand over the years.
More so, not all of the tokens are moving around thereby providing more value to them. Only about 31% of the tokens are in circulation. This suggests that there is a chance that the value will rise due to the success of the Avalanche network.
Here is a list of exchanges where you can sell AVAX. Note that these names are outputs of a comprehensive risk analysis of their platforms by industry experts. They make the process easier and more effective. What happens in an exchange cannot be reduced to buying and selling. They constitute several tools and features.
These are some of the best cryptocurrency brokers in the world. Their platforms come with features and payment methods that would make trading a lot easier. Platforms like Binance record over $20 billion worth of deals every 24hrs.
It gets even better as they perform all these trading services within the confines of regulations. They abide by regulations in the different countries where they operate. Aside from the simple trading interface, these exchanges also boast proper customer service. You want a broker with great support that can assist you in every step of the process. Truth the told, the numbers and figures on these platforms can be daunting. Great customer service would provide more ease.
Secondly, these stated platforms are safe. There are set safety protocols and standards in place to prevent illegal access to your crypto asset. Furthermore, one other factor that hits the mark for crypto platforms is the support of different payment options.
Reputable exchanges provide numerous deposit options, which benefit both parties. When options like bank transfers, credit cards, payment processors become available, more deposits are feasible. Note that these different options come with different fees and expenses.
There is a high level of liquidity and a huge reputation that these platforms have. You don’t achieve such economic status without proper trading benefits and customer satisfaction.
AVAX came into the game as a substitute for the Ethereum blockchain. It offers decentralized asset trading, which is accessible by anyone but still secure. Avalanche provides a better handle on scalability issues than Ethereum. The network’s unique position suggests that it would remain in the market for a long time.
How To Sell AVAX In 2021
AVAX recently recorded a price surge and there are several factors responsible for it. The first has to do with its unique position in the crypto market. Within the space of over 9 months, the price has hit the roof and is still on the rise.
As of the last month in 2020, the price was $2.95. 9 months later, its price rose to $79.57. This is the highest value ever as it now hovers around $66. AVAX has a market capitalization of $14.4 billion and a limited supply of 720 million coins.
A lot of AVAX purchases were crypto-based migration from other platforms. In September, the Avalanche network announced an influx of large funds. This announcement and liquidity charged up the sales of AVAX.
Let’s stick to the use of Binance to trade AVAX. This platform records over $20 billion worth of daily transactions. This makes it the world’s largest cryptocurrency exchange. Binance allows different assets and supports several wallets. This amongst other unique features makes it easier to trade.
More so, there are complaints about fees and expenses associated with trading platforms. Binance stands aloof of these criticisms with as low as 0.1% trading commission. Binance makes several trading tools such as margin trading available. You can also make deposits or withdrawals through several channels.
One more factor is the good liquidity associated with Binance. This suggests that traders find it easier to exchange their crypto assets for another. Binance is a crypto-only exchange as traders can easily sell AVAX. You can exchange AVAX for BTC, ETH and many other cryptocurrencies.
The AVAX token can serve as a reward as well as a payment system. This makes it easy to sell AVAX just as much as buying it. There are several reasons why persons sell their crypto assets. This token is still very valuable but some would rather not take chances. The Avalanche network is playing vanguard in the creation of DeFi apps. This has been a major fuel for the value of AVAX.
This ecosystem that breeds integration with smaller platforms makes it a viable alternative to Ethereum. Perhaps, it aims beyond that. There are plans in the works to create a bridge linking the Avalanche network with that of Ethereum.
A lot of traders are still waiting for Ethereum 2.0 and Avalanche is proving to be a worthy alternative. In essence, the rise in price/value of the AVAX token is not over yet.There are forecasts on the price of AVAX in the coming years and they are based on market activity. By nature, the Avalanche network is dependent on decentralized apps and this trigger even further growth.
The effectiveness of its smart contracts would still propel its value beyond its current state before the end of the year. While demand for useable crypto remains, the price is expected to keep rising for the next 5 years. As long as Avalanche remains a dependable network, its value might not decline anytime soon. Buying and selling crypto can become a hassle if you do not have these guidelines. Let’s take you through some of the procedures necessary to sell AVAX.
Step 1: Buy AVAX
This is a no-brainer. Before you can sell a crypto asset, you must buy especially because no one would give you for free. Binance is a crypto-only exchange. Popular currencies like BTC, ETH and many more can be exchanged for AVAX.
Binance allows investors to purchase crypto through several means
- Bank deposit
- 3rd party payment systems like PayPal, Simplex etc.
- Credit or Debit card
- PTP trading, which includes bank transfers etc.
Binance helps to eliminate FX risks as it supports the major fiat currencies. You can also take advantage of the Affiliate Program to get a commission when you refer a user. This means more AVAX without purchase. Binance provides demo accounts that allow users to try out the platform without real purchase. However, this feature is only available for the Binance Futures platform.
Lastly, there is also the option of buying AVAX as a CFD product. You are probably hearing this term for the first time.
Well, it simply means contracts for differences. The CFDs goes beyond sales and purchase as it revolves around the contract. It is a fairly new concept in cryptocurrency as it sipped in from established markets like stocks. These CFDs allows operating on the trading market without owning an underlying asset.
Note that you would have to register and go through identity verification to access the platform’s features.
Buy AVAX
Step 2: Always Know When to Sell
Fundamentally, buying AVAX or any other cryptocurrency is an investment. The aim is to make a profit. Now that you have obtained the tokens, the question is how do you make more money from them. The crypto market is a very volatile and dynamic one. Traders have to stay informed about the prices and shift in value.
Fortunately, Binance includes several features to make even beginners stay abreast of the crypto market. The trading platform encapsulates complex economics-based indices into visually exciting charts. These charts take 3 forms:
- Original
- TradingView
- In-depth
Beyond this, there are also drawing tools and comprehensive indicators for effective trading. Binance takes into consideration users experience levels. You can trade from the comfort of your mobile phone. There is also customer support to lead you in the right direction. This essential service is available round the clock.
All of these tools and features would inform a user if it’s profitable to sell or not. If AVAX has gathered a higher value than the price of purchase, then it’s profitable to sell. You can sell on the Binance platform by clicking the ‘trade’ button. You can also get a historical log of past trades.
AVAX Chart
Step 3: Know The Total Value Of Your Portfolio
Binance provides such a diverse portfolio with different wallets that support different cryptocurrencies. So a user can have assets in different accounts. Fortunately, Binance provides an estimated balance of all the user’s wallets at the top of the screen.
Binance Overview
This platform also allows the estimate in any chosen currency. If you want all your balance in a particular wallet, you can make a transfer between the wallets. The knowledge of the total worth of your assets puts you in a better investment position. You know just the right amount to sell and keep.
Step 4: Close All Active Positions
Open positions can become the case while operating on Binance. Users require enough amount in this position to sell. You should know by now that if you do not sell, you do not make a cashable profit. So it is in the trader’s best interest to keep a substantial amount in the open position.
The active position is a situation where a user’s orders are still open. When the market conditions are now favourable, traders can decide to sell. Indicate the currency pair, enter the number of assets and place the order. In the event of trading on short positions, closing would mean buying the assets back.
Closing Trade
Binance provides the option of setting the stop-loss orders. This automatically closes the position when it reaches a particular level.
Step 5: Withdrawal Requirements and Exchange Rates
Binance supports withdrawals of crypto and fiat currency to external wallets. Let’s start with the crypto withdrawals. Head to the ‘wallet’ menu. Clicking it would reveal a dropdown tab and then click ‘Spot’.
Proceed to choose the particular wallet to withdraw from and then click on ‘withdraw’. The user would have to input the following details:
- Recipient BTC address. You can add an address by clicking ‘Address Management’ and then ‘Add Withdrawal Address’
- Transfer network
- Amount
It’s a similar process for fiat currency. Just beneath the ‘Withdraw’ tab, you would find the fiat option next to the crypto part. Choose the particular currency and input your withdrawal details. Binance is committed to making withdrawals as seamless as possible.
The withdrawal limit on Binance depends on the selected blockchain network. Using Binance Smart Chain (BEP 20) usually provide a lower minimum withdrawal limit. Also, cryptocurrency plays a role. For Bitcoin, the minimum withdrawal limit is 0.001 BTC. For USDT, it is between 10 – 30 USDT. The withdrawal fee also varies accordingly.
Crypto Taxation in the US
The cryptocurrency market is still a relatively young one. Regulatory agencies are still trying to come up with the right policies to govern digital currency. Crypto regulation varies from country to country. So check with your local or national regulatory agencies.
Best Crypto Exchanges
There are tonnes of crypto exchanges out there. More platforms are springing up every day to meet the growing demands. These exchanges have different approaches to the ultimate goal of making digital currencies available.
Some stick to a specific area or country while others cover many geographical locations. Trading platforms provide different features and tools to make trading and other activities simpler. Some exchanges stand out with excellence in the important aspects of crypto trading.
Talk about customer service, user interface, asset security, information availability amongst many more. As far as crypto exchanges is concerned, it is advisable to stick to reputable ones. The newer ones are quick to derive mind-blowing features, which might not be as good as it sounds.
Here are a couple of cryptocurrency exchanges that you can bank on.
Storing AVAX In The Best Wallets
As of today, there are two types of wallets for digital currency. Just like fiat currency, a cryptocurrency needs to be stored. There are hardware wallets and digital wallets. Digital wallets take either of the 3 forms: online, mobile, and desktop.
These forms of wallets are based on software and usually use the web. On the other hand, the hardware wallet is a device that requires the input of security keys to use it. The latter is usually safer, as there is no third party or mobile device with your private keys.
There is always the risk of hacking when it comes to software. Either option comes with pros and cons. Your preferences should inform your choice. Ultimately, users should take every precaution to keep the wallet safe and their keys or code private.
When Is The Best Time To Sell My AVAX
Firstly, users are advised to define their objectives when investing in cryptocurrency. You can stick to the short term strategy and watch out for profit that suits your objective. Once there is enough profit, you sell. On the other hand, the long term strategy is also advisable especially because of the nature of AVAX.
The Avalanche network remains one of the most relevant in the crypto world. Most forecasts still predict an increase in the value of the token for years to come. Note that forecasts and analysis from industry experts remain what they are – forecasts.Users still have to perform their due diligence and do their research.
Fortunately, trading platforms like Binance makes it easier to understand the market dynamics. All you have to do is invest your time into studying it. Therefore, every trader can determine the best time to sell.
Price Of AVAX
As of the time of writing, 1 AVAX converts to $65.22. Like most digital currencies, there is a lot of fluctuations. Hence a lot of rising and falling in a time frame as small as minutes.
The market is so volatile that even negative reports influence the price. Binance along with most trading platforms provides charts, which display the fluctuations in a comprehensive manner.
Guide to Automated Trading
The cryptocurrency market displays fluctuations in very small time units. This almost puts a limit to the effectiveness of manually monitoring market transactions. Except the user has every second of the day dedicated to just trading.
Even in such a scenario, other factors like mental state, and fatigue can nullify the essence of this approach. Trading bots solve most of these bottlenecks. Automated trading involves the use of algorithms that stipulates the limits and conditions for trading.
The user has to provide the conditions as it fits the trading objective. The trading bots would have the upper hand in reacting more quickly to market opportunities. There are small profit margins that a human can easily miss. Nonetheless, automated trading requires human supervision.
The ideal strategy is a mixture of human and automated trading, with the latter doing most of the monitoring. If you are one of such users that get easily daunted by the frequent display of numbers and data, then let the bots take charge.
How to Invest Responsibly In Cryptocurrency
While the world of crypto is becoming increasingly attractive, the need to understand the market is quite relevant. A user might have the money to splash, but knowledge of the industry is also needed.
The industry is plagued with lots of fluctuations and uncertainties. Even the most knowledgeable experts, still produce imperfect forecasts sometimes. Now imagine a learner, who is coming into the industry to make profits. If such a user does not get relevant information there is a chance of losing big.
Excellent trading requires risk management, analytic skills and emotional stability. In most cases, greed is the emotion to resist. Traders often deviate from the designed objective just in a bid to get more profit.
Some traders have lost all they have built out of greed or trying to make up for what they have lost. Stay away from such emotions and let the data and charts before you influence the trading. Know when to retreat and trade. Evaluate your strategy and approach as often as possible. Learn from your mistakes and invest with caution.
Summary
Avalanche is one of the networks giving Ethereum a run for its money. It thrives on the development of decentralized applications. It uses smart contracts and offers unique solutions. AVAX is growing in popularity and they are readily available in different crypto exchanges.
Before users can sell AVAX, all open positions have to be closed. Reputable crypto platforms allow the exchange of this token for ETH, BTC, USDT and even in the user’s local fiat currency.
Security is also a key factor in trading digital currency. Firstly, users should endeavour to stick with reputable platforms as they have more secure systems and protocols. Also, find a safe wallet to store your digital currency. There are several options available. Go for the one that suits your trading objectives.
Cryptocurrency remains a hot trend but not as much a hot cake if there is no thorough research. Spend time understanding the market forces and how the preferred token, and platform reacts to them. It’s easier to be an objective trader once you invest money that you can afford to lose.
Should I Sell AVAX In 2021?
The perfect time to sell any native token depends on several factors. They all can be reduced to the achievement of your trading objectives. Have you gotten to the projected price level or profit margin? If not keep an eye on AVAX as its value is still on the rise. What users shouldn’t do is
- Sell at a loss
- Keeping AVAX to sell way more than your planned price as such can backfire.
FAQs
Where To Sell AVAX?
Users are advised to stick with the exchange addressed in the earlier part of this guide. It possesses the essential attributes that make up a great trading platform. So you can sell AVAX with ease and the right way. There is also the option of peer to peer trading but this comes with a lot of risks.
How Easy Is It To Sell AVAX?
If you are using platforms like Binance, it is very easy to make sales of this Avalanche’s native token. With a few clicks, you can place an order. Your profit would be ready for withdrawal within minutes.
Which Brokers Are The Best For Selling AVAX?
Several brokers support the AVAX token. Based on expert opinions and trials, here are the best exchanges to go for. Binance, Capital, Libertex, CryptoRocket, Plus500, Coinbase, AvaTrade, eToro.
What Are The Tax Implications Of Selling AVAX?
Taxes on selling cryptocurrency vary by country. So users are advised to consult the local government website for more information. For most cases, the implications are at best sketchy.
Where Can I sell AVAX for USD?
What you should look for are exchanges that allow deposits from local banks. Such platforms can help sell AVAX for USD.
AVAX is Traded on which Exchanges?
Users can purchase AVAX on the following platforms: Binance, Capital, Libertex, CryptoRocket, Plus500, Coinbase, AvaTrade, eToro. Here you can also exchange this Avalanche’s native token for other currencies.
How To Sell AVAX Quickly?
Platforms like Binance are designed to fund such desires. All you need is a registered account, which would require some form of identity verification. Upon completion, users can sell and buy as quickly as possible. In the event of already having AVAX, you may transfer them to the chosen exchange’s wallet.
How To Make Money Selling AVAX?
Trading platforms allow users to convert digital currency into fiat. So when you sell and make withdrawals, the broker helps to convert your money into cash. Then it can be withdrawn to your bank account.
How To Sell AVAX On PayPal
Currently, Paypal only supports four cryptocurrencies and AVAX is not one of them. However, any of these four cryptocurrencies; Ethereum, Bitcoin, Bitcoin Cash, Litecoin can be used to exchange AVAX. So, indirectly users can work with Paypal.
What Is The Best Way to Sell AVAX From Your Wallet?
Exchanges like Binance require a payment system and some processes to sell AVAX from the wallets. It usually does not take time.
How To Exchange AVAX For Other Cryptocurrencies?
This is one of the major functions of trading platforms like Binance. It allows users to have several wallets and different currencies. The exchange rate and fee are obtainable before carrying out the exchange. Binance also provides an estimated value of all the available cryptocurrencies.
