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How to sell Ethereum in 4 steps
Learn how to sell Ethereum (ETH) easily by following a step-by-step guide and compare 10+ crypto exchanges. Get started today.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
Where to sell Ethereum in New Zealand
So long as you have access to your private keys you can sell your Ethereum on any exchange that lists ETH pairs. Compare exchanges using deposit methods, accepted cryptocurrencies and fiat support to find the best fit for your needs.
How to sell Ether
- Register on an exchange that lists the fiat/crypto trading pair. The cryptocurrency market is now littered with hundreds of trading platforms. The first step is to look for a platform that lists the trading pair you want to use (ETH/USD or ETH/BTC). Secondly, become familiar with the security protocols that the platform implements, the fees involved in each exchange and whether the platform is operational in the US. For most regulated US exchanges, know your customer (KYC) documentation will also be required – this may include providing your full name, address and government-issued ID. Once you're happy with an exchange, create an account.
- Deposit ETH into your account. Before selling any assets with a cryptocurrency exchange you must first transfer your holdings into your exchange account. Within your exchange account, find the ETH wallet address that you need to send your ETH to. Using the exchange address, transfer across the ETH holdings from your personal crypto wallet.
- Sell ETH for fiat. Once ETH holdings have been transferred across to the account it is now time to find the crypto-to-fiat pair you wish to use. For those looking to sell ETH for US dollars, search for the ETH/USD pair. Select the pairing you wish to use and enter the amount of ETH you wish to sell.
- 3a. Sell ETH for another cryptocurrency. Alternatively, you may be looking to sell ETH for another cryptocurrency. If the crypto-to-crypto pairing is not listed on the same exchange as the crypto-to-fiat pairing you may need to repeat steps 1 and 2. Once the crypto-to-crypto pairing has been found, enter the amount of ETH you wish to sell.
- Withdraw funds. It is never advisable to leave funds on a cryptocurrency exchange, therefore, once the exchange is complete it is recommended that you withdraw funds. When dealing with US dollars, withdraw the funds to your bank account – remember to check the associated fees. When dealing with another cryptocurrency, withdraw the digital assets to your personal crypto wallet. Consider finding a wallet that allows you to remain in control of your private keys at all times.
How to choose the best way to sell Ether
Thanks to the scale of cryptocurrency adoption there are now hundreds of platforms and services that allow the sale of ETH. However, this can make the process of selling ETH confusing. While the best way to sell ETH will vary depending on a user's requirements, there are some common questions you can ask yourself:
- Do you want to sell ETH for fiat or another cryptocurrency?
- How quickly do you want to sell your ETH?
- Are you willing to accept a price well below the market rate or do you want to negotiate the best price possible?
- If selling for fiat, how do you want to receive payment?
Answering these questions should help you to decide how you want to sell ETH.
The next step is to determine which platform suits your needs. When comparing different cryptocurrency exchanges, make sure you consider:
- Price. Is the exchange price listed similar to other platforms? Is it below market rates?
- Fees. There are several fees associated with a cryptocurrency exchange. Compare all trading fees that apply and whether there's a fee for withdrawing funds into your bank account or cryptocurrency wallet.
- Trading and withdrawal limits. Sometimes cryptocurrency exchanges place daily and monthly limits on trading and withdrawals. Is there any limit on the amount of ETH you can sell or on how much fiat currency you can withdraw from your account?
- Security features. What are the security protocols implemented by the exchange to keep your cryptocurrency, fiat currency and private data safe? Example security features include 2-factor authentication (2FA), whitelisting wallet address and insurance.
- Reputation and reviews. For any product, it is always worth checking out what other users have said about the platform. Seek out online reviews and check crypto forum posts.
There are several other important factors, such as where an exchange is regulated and the payment methods accepted by peer-to-peer trading sites. For a full breakdown of the features to look out for check out our cryptocurrency exchange guide and discover tips on how to choose the right platform.
What to consider if you plan to sell ETH
Selling any cryptocurrency always comes with a certain level of risk. There are several factors that may influence the outcome of a transaction. The more factors you can control, the lower the risk will become.
If you're thinking of selling ETH, factors you need to consider include:
- Withdrawal fees and methods. Withdrawal fees can sometimes be forgotten until eventually withdrawing funds. Check the fees associated and what withdrawal methods are available. How long will it take for your transaction to be completed? Can you withdraw to a bank account? When withdrawing crypto, remember to have access to a personal crypto wallet.
- Transaction limits. Does the exchange impose any minimum or maximum limits on how much ETH you can sell? Is there a per-transaction or daily withdrawal limit you need to worry about?
- Type of platform used. Will you be using a centralised exchange (easy to use) or a decentralised exchange (usually has better security and lower fees)? Will you entrust funds to a third party, such as the exchange operator, or can you trade in a peer-to-peer setting that allows you to connect directly with another user who wants to buy ETH?
- ID verification required. Do you wish for a sale to remain anonymous? Consider the personal details and ID you'll need to provide to sell ETH on any exchange. How long is the process to become a verified member? Some platforms don't require any verification, which is useful for those who value their privacy. Due to regulation, others have a rigorous signup process, which may mean you have to wait while your account is verified.
- Customer support. Don't forget to check how you can get in touch with the exchange's customer support team. Research whether it has a reputation for responding to requests quickly. This will ensure you get the assistance needed if your funds are slow to arrive or something else goes wrong with a transaction.
When is the right time to sell Ether?
Before selling any ETH it is always useful to ask yourself – is now the right time to sell? Ultimately you will never know, but there is analysis that could be completed before a sale that may stack the odds in your favour.
Technical analysis is the process of using historical price data to forecast where prices may go in the future. This historical data may include the price chart, indicators or trading volumes. The combination of technical analysis techniques should help you to decide whether now is the right time to sell or whether you should hold a little longer.
For those interested, our in-depth guide to cryptocurrency technical analysis is a useful tool to help you better understand and read the cryptocurrency market.
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