Ethereum is one of the most widely popular altcoins that exists in the current market.
It is also the second-largest cryptocurrency network when considered by market capitalization just after Bitcoin.
In this article, we will look at how the Ethereum network works, what Ethereum’s current market stance is, and more importantly a few things that everyone should try to keep in mind while trying to sell Ethereum(ETH).
What Is Ethereum(ETH)?
Ethereum is a cryptocurrency that has been known for its smart contract capabilities which have allowed developers to build decentralized applications referred to as (apps) on its blockchain.
Ethereum(ETH) is one of the most versatile and flexible cryptocurrency tokens to exist in the market.
It tops the list for being a coin with one of the number of most traded and swapped pairs in most exchanges.
In the section below we will look at a few ways you can go about selling your Ethereum coin.
What Are The Things To Be Kept In Mind While Selling Ethereum(ETH)?
These are a few of the things that every seller must keep in mind while selling Ethereum
- Keeping Track Of Market Trends And Price Variations
The seller must be informed about the current price change of the coin, the market prediction on the coin, the current technical indicators, and other miscellaneous details like volume and market cap while selling the coin,
These things are essential information as these will help you get the most out of the sale by increasing your chances of getting a better deal while selling the coin.
- The Second Thing That A Seller Of The Coin Has To Keep In Mind Are The Charges That Are Being Levied On The Seller
Exchanges differ from each other in terms of a lot of features and one of those things is the charge for each transaction that is being processed in their platform.
While selling the coin the user must choose an exchange that can process the transaction at a faster pace while still charging minimal transaction fees.
- Setting Price Limits Is Another Method That Will Help A User In Making The Most Of The Selling Process
Almost all crypto exchanges offer their users the option to place multiple sell orders at different prices based on their availability.
- Another Thing That The Seller Must Try To Do Is To Decide On How Much Of Their Share Of The Token Should He/She Sell.
Deciding to sell multiple coins at smaller shares or a part of your portfolio for the same coin will let the users get the funds that they might want while still maintaining a hold on the token in case there be any unexpected surge in price which they could benefit from in the future.
These are a few of the things that a seller must consider when he make the decision to sell his Ethereum stash.
In the next section, we will look at a few ways by which one can go about selling Ethereum and the other aspects of selling that might be useful for the seller to be aware of.
Also, Read: Ethereum Market Cap And Price Predictions
How To Sell Ethereum(ETH)?
These are the steps that one must follow to sell their existing collection of Ethereum coins.
If you want to sell Ethereum from your crypto exchange directly these are the steps that you should follow in order to go through with the process.
Step 1
Selecting the volume: Open the application or website of your crypto exchange or your wallet and select the amount of Ethereum that you would like to sell.
Step 2
Placing the order: The Next step will be to choose the kind of payout method through which you would like to be credited with the amount.
Step 3
Receiving the funds: Based on the market value of Ethereum at the time of settling the transaction the equivalent amount will be credited in your chosen method of payout in utmost 3-5 working days.
In any case, if the user is holding the coin in their personal wallets they must follow an additional step of opening or logging into any of the reputed exchanges to transfer their coin from their personal wallet to the wallet of the exchange.
Right afterwards they can follow the instructions starting from Step 2 as mentioned above.
Some of the other alternatives that the user can choose to sell their Ethereum will be through decentralized exchanges such as Paxful and LocalBitcoins.
These platforms allow you to carry out peer-to-peer transactions directly with other individuals without needing a central authority in between.
They carry lower fees and give you more privacy than other exchanges.
On top of all these a few other things that a seller must keep in mind while selling the coin one of which is the time at which you decide to sell the coin.
It is important to sell the coin at times where the coin has hit one of its targets as expected by many traders
Final Thoughts
While the process of selling Ethereum can be straightforward in nature it is important that the seller keep the things that have been mentioned in the paragraphs above in mind in order to reduce the chance of any fund mishandling, coin loss, or even any chance for misunderstanding of the actions which takes place with the selling process
