Token is a popular term in the blockchain environment. Crypto token sale has become a common income-generating activity for most traders out there. It is the process of developing and selling new virtual currencies. Choosing the right platform for your ICO or ieo binance token sale is essential. For quick transactions and enhanced flexibility or compatibility on different platforms, you need a BSC listing.
Multiple factors may force you to sell your crypto tokens. Between the market timing and the reaping of profits, there are many services you can get for trading cryptocurrencies to convert them for cash. Specific individuals sell to invest in other areas. Some will do it because they need money urgently. Always familiarize yourself with different trading tricks and the laws of your regions.
Whether you wish to transfer your funds to your personal account, turn then to actual currency, or simply exchange them for gift vouchers from Amazon, search and find. The world of blockchain is full of projects that enhance trading experience. However, the array of options can reign confusion, even on highly experienced traders.
In this guide, we will introduce you to 4 methods to sell cryptocurrencies like Bitcoin, Ethereum and others
The easiest way to monetize cryptocurrencies is to sign up on a crypto exchange (if you don’t already have an account). If you have stored the coins or tokens you want to sell in an external wallet, you can deposit them into the wallet of the exchange and exchange them there for fiat currencies such as euros or dollars. But beware, the transfer to the wallet of the exchange incurs fees, so-called gas fees. The amount of the fees depends on the respective blockchain and the amount of the transferred coins.
Some well-known crypto exchanges are Coinbase, Binance or Bitpanda. Since not all coins and tokens can usually be sold directly, they usually have to be exchanged for another cryptocurrency (e.g., Bitcoin or Ethereum). However, there are also fees when exchanging into another cryptocurrency. Also, exchanging one cryptocurrency for another may already be taxable.
You can also conduct crypto tokens sale on so-called P2P exchanges (peer-to-peer). However, the middleman (stock exchange) is bypassed and sold directly to other private individuals. Caution is advised with such P2P exchanges because you never know who is hiding behind a purchase offer and whether you will actually get the money after the coins have been transferred. The best-known P2P exchanges offer Binance, Paxful or LocalCoinSwap.
Of course, it is also possible to sell a cryptocurrency face to face, as long as an interested party can be found. The deal would work in such a way that the seller transfers the coins to the buyer’s wallet and the buyer, in return, pays the sum in cash, by bank transfer or PayPal.
Admittedly, this method is not a real sale of the cryptocurrencies but an exchange transaction. The coins to be sold are exchanged for a stablecoin, which is based on the US dollar, for example, and is thus saved from the high price fluctuations in the crypto market. But here, too, the gas fees should be kept in mind.
The stablecoins can then be exchanged for fiat currencies at the appropriate time. But be careful, the exchange of one cryptocurrency for another can also be taxable. Furthermore, there is no guarantee that a stablecoin provider will not disappear from the market, and the money will be gone before it can be exchanged for fiat currency.