Ethereum, the blockchain platform created by the Russian developer Vitalik Buterin, was invented with the objective of offering a programming language that allows any user to use the so-called “smart contracts” and the Decentralized applications.
This account has its cryptocurrency called Ether, also known as ETH, which is considered as the internal fuel for the proper functioning of the platform and at the same time, as a way of making payments and investments for those who decide to Buy it.
Many users are focused on investing, buying or exchanging this cryptocurrency for profit. But, for users who are interested in selling Ethereum, we will give some key points to perform this operation.
How can I sell ETH?
Once you have acquired ethers, you can change them into another currency or fiduciary money using a process similar to the one used when you made the purchases at the exchange houses. Most of the world’s most recognizable exchange houses operate with ETH buying-selling transactions, so the process should be much easier.
It is very important that the user has an account in one of the exchange houses. This will be useful in order to choose the offer that most suits your needs, specifically in regards of the bank that will serve to receive the money, and the amounts to be canceled by the exchange transaction, which usually is between 1 and 5%.
The interested party must transfer the funds in Ether from his personal wallet to that wallet that was assigned from the exchange where he has subscribed. This is done in order to have the opportunity to sell or exchange their cryptocurrencies according to the negotiating rates on these platforms.
The most popular exchange houses in the world such as Coinbase, Bitfinex, Kraken, Bithumb, EToro, Binance, Cex.io, Poloniex offer the possibility of negotiating ETH, at very low prices or similar to that which is previously established according to its capitalization of the Market.
The user will then receive the fiduciary money of his choice in a bank account that he previously provided. This means that he will generally receive the equivalent of the currencies to the official change established by the country where the transaction is carried out, although in some cases where there is exchange control, the rate may vary.
Another option that users have to sell Ethereum is by doing it directly between users using an operation known as peer-to-peer (P2P). In this method, the seller offers his ethers to a buyer, he gives him the wallet address where he expects to receive the ETH and then requests the bank account number of the seller to make the respective payment.
It depends on both parts to agree when the funds will be transferred, but the truth is that it is an operation that can be done and increases the proximity between the parties involved, as it can be done by linking personal wallets and not those that are lodged in the Exchange houses.
Finally, we just have to mention that before choosing an exchange house to make the sale of your Ethereum It is important that you take into consideration the following factors:
- Focus on the reputation of the service and the security they offer.
- What are the payment methods they accept
- which are the percentages that they charge per transaction
- The exchange rates as it is a percentage that varies a lot of service to service.
- Any Geographic restrictions they may have.