This post will go over some of the steps to cash out Ethereum. This is a brand new currency introduced in 2015 and has exploded onto the scene. To make money from your Ethereum investment, you need first to take a few different steps. Follow these few simple instructions on how to cash out Ethereum.
- Choose a crypto exchange
There are many different exchanges that you can cash out your Ethereum with. You need to pick one and get familiarized with the process of using their site, which we will go over below. Popular options include Coinbase, CEX.IO, Kraken, and Bitpanda (Europe). Ethereum Code would be a wise choice to make when picking a trading platform.
- Link a current bank account
To cash out your Ethereum, you must link a current bank account. This can be done by logging into your MyEtherWallet and clicking on the “Add Wallet” tab. Then select “Create a new wallet” and follow the instructions. Once your wallet is created, click on the “View Wallet Info” tab and copy your public address.
- Transfer your Ethereum to a crypto exchange
Make sure to transfer your Ethereum to a crypto exchange. This can be done by logging into your exchange account and clicking on the “Withdraw” button. You will then need to input the wallet address you are transferring your Ethereum to. Once the transaction has been processed, your Ethereum will appear in your chosen wallet on the exchange.
- Transfer your mining profits to a cryptocurrency exchange
To cash out your Ethereum, you will need to transfer your profits to a cryptocurrency exchange. This can be done by logging into your mining pool account and clicking on the “Withdraw” button. You will then be prompted to enter the cryptocurrency exchange address where you would like to send your funds.
- Sell your Ethereum for the desired currency
You will need to find a reputable Ethereum sell-off service to convert your Ethereum into your desired currency. There are many different services available, so make sure to research the best one for you. Some popular options include Coinbase and BitPanda.
Once you have selected a service, follow their instructions on how to transfer your Ethereum holdings into their system. Usually, this will involve copying an address or scanning a QR code with your smartphone wallet app.
- Withdraw funds from your bank account
You can withdraw funds either in bitcoin or your local currency. Withdrawals are sent to an address you provide (similar to a Bitcoin wallet). Funds will usually arrive within one hour; however, it could take up to 24 hours on some occasions. Withdrawal fees vary depending upon the payment method used and may include bank fees that Coinbase must pay, but these should be negligible compared to the value of the amount being withdrawn.
The Bottom Line
Cashing out Ethereum is a simple process that can be done in some easy steps. As always, it’s important to take your time and consider the safety of each step before proceeding with any transaction – no matter how small or large.