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How to sell Ethereum (ETH)

Step-by-step instructions on how to sell Ether for AUD or cryptocurrency.

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Whether you’ve bought Ether (ETH) on an exchange or earned ETH from mining, the time may come when you want to sell some or all of your holdings. As Ethereum is one of the world’s largest digital currencies at the time of writing in July 2018, you can sell ETH for fiat currency, for example Australian dollars (AUD), or use it to buy another cryptocurrency.

Keep reading for a step-by-step guide to selling ETH.

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.

Quick guide: How to sell Ethereum in Australia

  1. Register for an account with a cryptocurrency exchange like Swyftx
  2. Verify your account
  3. Select the asset you want to sell from the Swyftx interface
  4. Select the deposit option to get your Swyftx wallet address for that asset
  5. Send your cryptocurrency to the provided wallet address
  6. Sell the cryptocurrency for AUD
Go to Swyftx's website

This is our quick guide to just one way to buy Ethereum. Compare some other options in the table below.

Where to sell Ethereum in Australia

Name Product Deposit methods Fiat Currencies Cryptocurrencies
BPAY,Cash,POLi,PayID
AUD

169
cryptocurrencies

CoinSpot is an Australian-based exchange that allows you to easily buy, sell or trade more than 100 cryptocurrencies.
Bank transfer,POLi,Osko,PayID
AUD

177
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Bank transfer,BPAY,Cash,Cryptocurrency,PayID
AUD, GBP

9
cryptocurrencies

Get a free Swipe (EFTPOS) Card from CoinJar, valued at $29.
Simply tap on “Card” within the CoinJar app bottom menu to order the free Swipe (EFTPOS) Card. CoinJar offers a simple way to buy, sell, or trade cryptocurrency with AUD. Enjoy free and instant deposits, fees start from 0.1% and withdrawals are free to your bank account.
Interac e-Transfer,Wire transfer,Credit or Debit Card,SEPA,EFT
USD, EUR, CAD, GBP, JPY, AED

24
cryptocurrencies

Canadian-founded Bitcoin and cryptocurrency exchange available in 193 countries.
Bank transfer,POLi
AUD

49
cryptocurrencies

Easy Crypto is a simple way to buy and sell a range of cryptocurrencies, straight to and from your own crypto wallet.
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Compare up to 4 providers

A step-by-step guide to selling Ethereum

There are two options available when selling Ethereum:

  • Selling ETH for fiat currency, such as AUD
  • Selling ETH for another cryptocurrency, for example bitcoin (BTC) or XRP (XRP)

Selling your Ethereum tokens for fiat currency is generally the quicker and more convenient of these options, particularly if you’re not an experienced trader. That said, you can find simple step-by-step instructions below, to sell ETH for either fiat or cryptocurrency.

Selling ETH for fiat currency

Step 1. Register on an exchange that lists ETH alongside AUD

If you plan on selling your ETH tokens on the same exchange where you purchased them, skip ahead to step 2.

If you don’t want to use the same exchange, you’ll need to search for an exchange that lists ETH in a trading pair with the fiat currency you want to acquire. Review and compare the features of a range of crypto exchanges before deciding which one is right for your needs.

You can then sign up for an account by providing your email address and creating a password, while some exchanges will require your full personal details and proof of ID to satisfy Know Your Customer and Anti-Money Laundering (KYC/AML) regulations.

Don’t forget to also enable 2-factor authentication on your account before proceeding any further.

Step 2. Deposit ETH into your account

The next thing you need to do is transfer your ETH holdings into your exchange wallet. To do this you’ll have to log into your account. Find the relevant wallet address for Ethereum tokens, and then use that address when transferring tokens from your external wallet.

For example, if you’re using CoinSpot, you’ll need to click on the “Wallets” tab at the top of the screen and select your Ethereum wallet. After clicking “Generate Deposit Address”, you’ll be given the address to which you can transfer ETH.

Step 3. Sell ETH

Once the ETH tokens have arrived into your exchange wallet, you’ll need to navigate to the trading page and search for your desired currency pair, such as ETH/AUD. You can then enter the amount of ETH you want to sell to place your order.

For example, on CoinSpot you can click the “Buy/Sell” tab and then search for Ethereum in the list of coins. Click “Sell ETH” and then enter the amount of ETH you’d like to sell in the box provided. You can then select the currency you want to sell ETH for (eg AUD) and click “Sell”.

No matter which exchange you’re using, make sure you take a moment to review the full details of the transaction before submitting.

Step 4. Withdraw AUD

The final step is to withdraw the fiat currency that you have acquired and put it into your linked bank account. This is usually quite easy to do from your exchange account, but make sure you’re aware of any fees or limits that apply to the transaction.

For example, CoinSpot users can make a bank account withdrawal by clicking on the “Withdraw AUD” link visible on their account dashboard.

Selling ETH for cryptocurrency

If you want to exchange your ETH tokens for another digital currency, here’s what you need to do:

Step 1. Register on an exchange that lists ETH

If you plan on selling your ETH tokens on the same exchange where you purchased them, skip ahead to step 2.

If you need to use a new exchange to complete your transaction, you’ll need to compare the features of a variety of crypto exchanges before deciding on one that’s right for your needs. The good news is that because Ethereum is the world’s second-largest cryptocurrency it’s widely traded on an extensive range of exchanges.

Once you’ve chosen an exchange, sign up for an account by providing your email address and creating a password. Some platforms will also request your full personal details and a valid form of photo ID in line with Know Your Customer and Anti-Money Laundering (KYC/AML) requirements.

Make sure you also enable 2-factor authentication on your account before depositing any funds.

Step 2. Deposit ETH into your account

Now it’s time to transfer the ETH tokens you want to sell into your exchange wallet. To do this, you’ll need to find out the ETH address of your exchange wallet and then use this to transfer the tokens over from the wallet where you’ve been holding them.

For example, if you’re selling ETH on Binance, you’ll need to select “Deposits” from the “Funds” drop-down menu. You can then select ETH as your deposit currency and copy the relevant wallet address or scan the QR code.

Step 3. Sell ETH

Once the ETH tokens have arrived in your exchange wallet, you can click through to the trading section of your chosen platform. Then it’s a matter of searching for the pair you want to trade, such as ETH/BTC, and then entering how much ETH you want to sell or how much BTC you want to buy.

For example, Binance users can click on “Exchange” and select either the “Basic” or “Advanced” trading view. Search for the pair you want to trade in the box provided on the right of screen and select the type of order you want to place. You can then enter the amount of ETH you want to sell and click on “Sell ETH”.

Make sure to take a moment to review the full details of your transaction before finalising the sale.

Step 4. Transfer your new digital currency to a secure wallet

Now that you’ve acquired a new digital currency, remember that storing your coins or tokens on an exchange for the long-term isn’t recommended. For enhanced security, it’s a good idea to transfer those tokens to a private wallet that allows you to retain control of your private key.

For example, on Binance you can transfer the funds away from the exchange by clicking on the “Withdrawals” link from the “Funds” drop-down menu. You can then select the coin or token you want to transfer out of your account and enter the withdrawal amount and address.

Check out our cryptocurrency wallets guide for more information.

What to consider if you plan to sell Ethereum

Before you sell your ETH tokens, remember that every cryptocurrency trade comes with a certain level of risk attached. Cryptocurrencies are volatile and complicated assets, so it’s important to do your research before selling any coins or tokens.

If you’re thinking of selling ETH, factors you need to consider include:

  • Trading fees. Compare trading fees across a variety of exchanges to find out how much it will cost you to sell your ETH. Check to see whether fees are different for market makers and takers, or whether they’re the same across the board.
  • Withdrawal fees and methods. When choosing a platform, don’t forget about the fee charged to withdraw funds from your exchange account. It’s also a good idea to check what withdrawal methods are available and how long it will take for your transaction to be completed.
  • Transaction limits. Does the exchange impose any minimum or maximum limits on how much ETH you can sell? Are there any per-transaction or daily withdrawal limits you need to worry about?
  • Type of platform used. Will you be using a centralised exchange (easy to use) or a decentralised exchange (usually have better security)? Will you need to entrust your 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. Consider the personal details and ID you’ll need to provide in order to sell ETH on any exchange, and how long it will take to become a verified member. Some platforms don’t require any verification, which is useful for those who value their privacy, while others have a rigorous signup process in place and you may have to endure a 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 and to research whether they have a good reputation for responding quickly to requests for help. This will ensure that you can get the assistance you need if your funds are slow to arrive or something else goes wrong with your transaction.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Images: Shutterstock

Disclosure: At the time of writing the author holds ADA, ICX, IOTA and XLM.

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