Ethereum’s transition to PoS can eventually lead to turbulences in the network which can’t be anticipated. Let’s see how you can trade Ethereum, why you should do it, and what are the main risks you need to look out for. So far, you know that Ethereum is a network powered by the Ether token. However, for the sake of simplicity, we’ll just use Ethereum and Ether interchangeably when referring to Ethereum trading.

During the rally, ETH market market capitalization surged to $299,492,362,705 while the 24-hour trading volume dipped by 36% to $8,169,785,827. Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3. With ETH, you’re not trusting a bank or company to look after your assets, you’re taking responsibility for yourself. SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

Selling Ethereum for Fiat Currencies

A hardware wallet is the most secure option for storing your Ethereum. These wallets are physical devices that store your private keys offline, making them less vulnerable to hacking and other security threats. However, hardware wallets can be expensive and may not be the most convenient option for everyone.

This is especially true for platforms that allow you to link your crypto account to a bank account. Centralized exchanges allow you to use local currencies like USD to buy your Ethereum. They may offer other services, like staking or crypto-to-crypto conversions to further incentivize you to use their platform. Cryptocurrencies are digital currencies powered by cryptographic techniques that make hacking or manipulating them extremely difficult.

How much does it cost to sell Ethereum?

Crypto.com also boasts an intuitive user interface and a top-rated crypto app. It’s not as easy to use as eToro, but the learning curve is not as steep as some other brokers in the market. Although account signup and verification might take a while, Crypto.com eventually How To Sell Ethereum gets the job done. EToro will deposit the funds using the payment method used to fund the account except otherwise specified. The average time to receive withdrawals ranges from 2-10 business days. The minimum fiat withdrawal amount on eToro currently stands at $50.

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. Outumuro notes that more than $1 billion worth of Ethereum netflows left centralized exchanges this week. ETH’s network fees, which indicate the willingness to spend and demand to use the asset, increased by more than 30% over the same time period. Coinbase will sell your ETH and deposit the USD proceeds into your Coinbase account.

Sell Through Ledger

We also provided a guide on how to trade ETH for other cryptocurrencies and privacy and security tips to keep in mind. Note that while the format may differ on exchanges, the above formula works for selling ETH through an exchange order book. You can also check if the platform has an Instant Buy and Sell option that lets you sell ETH to another cryptocurrency. Lastly, you will need to submit https://www.tokenexus.com/blockchain-cryptography-explained/ the details of your bank account if you want to withdraw fiat currency from the exchange. 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.

• The concept of cryptocurrency was first introduced by an unknown person or group of people using the pseudonym Satoshi Nakamoto in 2009.
• Also, you can sell them and get some cryptocurrencies which you can later use on the exchange for whatever trading strategy you might have.
• Two things are certain in the world – death and taxes and when it comes to crypto assets like Ethereum, this is no different.
• Make sure you check the conversion rate before selling, and be aware of any exchange-specific fees or delays that may apply.

For US bank accounts, it can take from 1-5 business days to receive your cash. Here’s how to do it on a custodial cryptocurrency exchange like OKX. The speed at which you sell Ethereum depends on whether the Ethereum is already on the platform where you intend on selling it. 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 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.