Once you’ve accumulated some Ether (ETH), the native coin of the Ethereum blockchain, through buying the tokens or mining them, there will probably come a time when you’ll decide to sell.
You may sell your Ether through an exchange to cash out a previous purchase of ETH as an investment. You may wish to spend your ETH directly via a payment card, for example. Additionally, you may want to allocate some of your ETH to spend on transaction or gas fees for decentralized finance (DeFi) solutions. For instance, developers demand the gas fee in order to process transactions on the Ethereum network.
This handy guide will dive further into the various ways of selling Ether and touch on some trading strategies.
Related: How to buy Ethereum: A beginners guide to buying ETHSelling Ether on centralized crypto exchanges
The process of selling Ether on a centralized crypto exchange works similarly to buying it. First, you need to choose an exchange hosting Ether trading that operates within your jurisdiction and set up an account with it. You will likely be required to provide varying amounts of personal information such as your date of birth, address and a government-issued photo ID.
Once you’re all set up, you will need to choose between selling your Ether for fiat currency (USD, EUR, JPY, etc.) or trading it for a different cryptocurrency.
Exchanges have specific wallets and addresses for your various crypto assets on the platform. Simply navigate the website in search of a “sell,” “deposit” or “deposit into exchange” button. Upon clicking on one of those buttons, you will find your wallets and their corresponding addresses. Some tokens are built on other blockchains, for example, the ERC-20 tokens are built on the Ethereum blockchain. Be sure to check the compatibility of the wallets you are using for any given transaction. Send the desired amount of Ether from your holdings — held in a self-hosted wallet, for example — to yo...