After you have accumulated a certain amount of Ethereum, you may want to trade some of it. Most often, the reason for the sale may be the fact that it is possible to use Ethereum for payment for goods in a minimal number of web outlets. At the moment, top retail companies only accept Bitcoin. But if you still prefer to exchange it for USD, then this can be done with the help of certain services available for holders of this cryptocurrency.
Now we will review what the most effective ways of exchanging ETH are available today and what trading strategies are the most optimal.
How To Change Ethereum For Real Money
Today, most investors are trying to buy Ethereum at the lowest price and keep it for a long time. Thus, the holders plan to receive additional profit as the value of the ETH increases. Nevertheless, the sale of this digital currency is possible through various online exchanges. You can choose whether to withdraw them to a bank account or a credit/debit card. In case of retiring to a bank account, take note of the speed of the transaction.
How To Sell ETH With Paypal
Because of the popularity and high capitalization of the cryptocurrency market share, the sale and transfer of money to PayPal are possible using the following services:
When choosing Coinbase or Localbitcoins, you should directly consider the kind of service supported in your country as well as the size of the corresponding fees. You can also try any platform for transfer available in your country. It is much better than getting money to a bank account.
How To Sell Ethereum With Credit Card
To change this digital currency and deposit money directly to your credit card, you can use one of the most popular platforms called, CEX.io.
The service charges fees from its customers for change. This lets you speculate how much you will need to pay for using the services of this company. On average, the fees range from 1.2% to 3%. However, many users prefer this particular method to withdraw money.
How To Sell ETH With A Debit Card
If you need to withdraw cash directly to a debit card, you can also try doing it through the service described above. Be sure to check the information about the types of payment for debit cards that can be used. If you plan to use MasterCard or Visa for a trade, then you have nothing to worry about. Moreover, these payment systems are supported by most banks in the world; it is highly likely, one of these cards is already in your wallet.
How To Change ETH Using Cryptocurrency Exchanges
The process of selling the cryptocurrencies is similar to the process of buying the currency on exchange markets. Before you begin the sale process, you need to decide on which crypto-exchange you are planning to perform this operation. It all depends on the country you live in and what transaction services are available for sale individually in your area.
In general, for selling or buying cryptocurrencies through the exchange, you will need to link the existing bank account to your profile at one of the exchange websites. This may require you to provide all the necessary information such as date of birth, telephone number, or the address of your residence. This data is protected entirely by privacy policies.
After you take all the steps required for registration, you will need to decide whether you want to exchange ETH for fiat money or another cryptocurrency asset.
The most popular crypto exchanges also provide its customers with a storing option. You only need to find the Trade button and click on it. You will then be presented with a new link to your wallet on this platform. Afterward, transfer the required amount of ETH to your new wallet for further exchange.
As soon as the cryptocurrency is in your wallet–registered on the selected stock exchange–you can indicate how much you want to exchange. Then, place the corresponding order with specific terms. You have to wait until a buyer who will accept the offer shows up. One can also make a sale with a deferred transaction order. In other words, you get to specify how much currency you are willing to exchange, and at what price it can be transferred for. And as soon as there is a buyer who is ready to make a deal, it will be automatically conducted.
Sale of Ether Using Peer-To-Peer Technology
If you do not have time to go through the registration and authorization of your account data in the crypto-exchange, You can use alternative selling/buying methods. Outstanding service like Localethereum presents one of these methods. The main difference from the exchange platforms is that they are fully devoid of trade operations. This easy investment opportunity is achieved through a policy of smart Ethereum contracts.
Overview Of The Peer-To-Peer Service On The Localethereum
This exchange platform is an online service where cryptocurrency holders can make offers for buying and selling coins. The service charges a 0.25% commission from its customers when conducting sales of the digital currency. The company provides an additional function of direct contact between the buyer and the seller. Hence, users can meet directly and exchange coins for traditional money. Clients of the service are also viable to the MeetUp option through which you can find various events on the topic of cryptocurrencies held near your area.
Necessary Precautions When Selling The Ether Using P2P
If you decide to trade Ether in a personal meeting with the buyer, you must make sure that the place of sale is a public location. In no case should you invite strangers to your home or come to unfamiliar areas. Also, remember that for exchange, you will need a stable internet connection. Before you make a deal, make sure that the buyer has the necessary amount of USD in the account for deposit. Frequently, the seller and the buyer simultaneously try to press the “Transmit Money” button so that the operation takes place at once for both users. Thus, coins from your account will be sent at the same time the USD is being sent to your wallet.
The Choice Of Trading Strategies For The Sale
Today, a variety of exchange strategies are used to buy or change this cryptocurrency. Depending on the level of the seller skills and the number of available coins, approaches may be completely different. However, the main principle for the sale of this coin is that the more ETH you have available, the more profit you can make out of it. Also, you have to decide for yourself which of the strategies is the most convenient for you. Likewise, you should be discerning as to what sales options you do not fully understand and avoid it at all costs.
Selling ETH Using the Buy And Hold Strategy
This option is, in fact, the most common among Ether holders as it offers the broadest possible investment opportunities. Its main advantage is its easy-to-use functions, especially for those who buy Bitcoin. More sophisticated traders call this trading strategy as a “long-term strategy.” This is because the user needs to buy a certain amount of coins and hold them in his/her wallet for a certain period until the price rises to the required level.
The pool of investors that uses this option most often choose the most popular currencies depending on the volume of capitalization in the crypto world. Today, one can identify some leading coins that correspond to this basis, and these are:
After investors buy a certain amount of these coins, they understand that their value should not fall to a critical level. They should also store the entire amount of purchased digital currencies before their privacy regulated investments pay off and can bring profit to their holders.
Selling ETH Via Active Day Trading
This trading strategy implies a deeper understanding of the market terms and all the charts reflecting the price dynamics. It also keeps track of the crypto market tendencies daily. It can be used by more experienced traders who already have specific skills and experience with this coin. Do mind, however, that the use of traditional exchange strategies inherent in the securities market may not work in Active Day Trading.