Cryptocurrencies are an increasingly popular investment in 2022, their origin a product of revolutionary technology. Institutions and retail investors all over the world are clamoring to buy in as owning them is such a profitable venture. However, not all of these investors know how to sell cryptocurrency for fiat and this can represent an opportunity cost.
Moving into cash, Tether (USDT) or other stablecoins when the market turns short-term bearish can hedge your risk, protect your capital and leave you with more funds to buy the dip if one comes, or diversify into altcoins that are still uptrending. Bitcoin and all cryptocurrencies tend to have reaccumulation and distribution periods and retest support levels several times before the next ‘pump’ when price briefly spikes again.
In this guide we are going to explore the concept of cryptocurrencies and how they function, the best brokers and exchanges to sell cryptocurrency, how to sell cryptocurrency for USD, and more. We want to ensure that you are well-equipped by the time you complete reading this guide to exchange your digital assets for cash. On this Page:
Contents [show]Best Places to Sell or Short Cryptocurrency
3 Providers that match your filters
3 Providers that match your filters
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68% of retail CFD accounts lose money.Understanding Cryptocurrency
Crypto just like the traditional fiat currencies is simply a form of money. Although its development incorporates more revolutionary technology and style, the concept strives to satisfy the characteristic of being a complete innovation to facilitate the exchange of value between individuals, institutions, or even governments.
Cryptocurrency is a revolutionary development that integrates a whole lot of features. Transactions performed using this innovation are verified and secured by the blockchain using an innovation known as cryptography.
The issuance, validation, and base of cryptocurrency is centered on a decentralized system and cannot be exposed to centralized authorities like the government, the commercial banking sector, private institutions, or any individual. The peculiarities of this concept draw into becoming a suitable outlet for the flow of personal wealth without restrictions.
Some of the features that cryptocurrencies enable include anonymity, private distribution, and efficiency. These features are not easily obtained using traditional banks or conventional third-party payment services like PayPal, Stripe, or Cash app. Cryptocurrencies like Bitcoin are considered a good store of value and a blockchain that is focused on security while other cryptocurrencies like XRP, Litecoin, Cardano, and Dogecoin are considered to be more efficient blockchains in the terms of transaction speed.
There are a lot of other native features that many blockchains offer. Primarily, not all blockchains or crypto projects offer similar benefits; a few might go out in their way to incorporate more features. These features can be targeted to a specific class of people or simply for everyone. For instance, there are blockchains and crypto networks that offer payment services for the movement of funds and cross-border payments for institutional entities.
Others are focused on delivering efficient service to the entertainment sector, while others are focused on local and international logistics to ensure that products and services easily get to the intended party without getting lost or tempered.
Blockchain technology is so revolutionary that it is capable of changing the entire systems that we are used to and installing a world governed by decentralized policies instead. Precisely, this is already in existence through the concept of decentralized autonomous organizations (DAOs). Best Exchanges for Selling Cryptocurrency in 2022
Cryptocurrencies like Bitcoin, Ethereum, Ripple, Dogecoin, or Litecoin can be sold on several exchanges back to the original source you deposited with, or you can exchange them into stablecoins like Tether (USDT).
Selling cryptocurrency can pose quite a problem to people who haven’t tried to previously. As mentioned, it is quite profitable to learn how to dispose of your digital assets yourself without needing an intermediary aside from the broker that you are using. The basic advantage of this is you can avoid the risk of losing your digital assets along the way or being scammed by third parties. It is also important if you want to gain the actual value of your crypto without large fees that affect your profits.
Here are some of the best exchanges to use whenever you are looking to sell your cryptocurrency for fiat:
The brokers/exchanges above are some of the most popular in the cryptocurrency industry. They are prominent and indispensable for millions of investors that clamor for seamless trading as well as effortless selling. Primarily, they are structured in a way that appears friendly to novice traders and virtually everyone with an interest in digital assets.
There are hundreds of brokers and exchanges in the cryptocurrency market. However, not all of them are capable of performing the needed functions and not all of them are secure enough for high-end transactions. Experts have reviewed a couple of these exchanges and have settled in for the ones above and this is why we are disclosing them to you.
For instance, exchanges are often the big target of hackers who desire to infiltrate their security mechanisms and access the funds of users in their wallets. If these exchanges use weak mechanisms or poorly developed KYC systems, it is possible that these hackers would succeed and stash away millions or billions in user funds.
The exchanges above are dedicated to protecting user data and funds through a wide array of state-of-the-art mechanisms. They also offer high liquidity which means that it won’t pose a problem to convert your digital assets to cash at any time. Their users enjoy the quality and prompt customer support at any time. This would ensure that necessary actions are taken if a user experiences any issue when carrying out operations.
Beyond these, the majority of the above exchanges offer several methods of crypto-to-fiat liquidity via banking integrations, credit/debit cards, and secured peer-to-peer services. How to Sell Cryptocurrencies in 2022
If you are looking to sell your cryptocurrency in USD with the exchanges above, this section would make it a lot easier for you. There are a couple of steps you must take before you would be able to dispose of your crypto assets and we are going to go over them briefly.
Now, if you have satisfied the above criteria, then you are good to begin your journey to sell your cryptocurrency. For eToro users, the steps required to sell your cryptocurrency are not enormous and you can easily execute them without losing your way. The broker eToro is a friendly platform with a suitable interface for newbie traders and access to it would encourage instant liquidity.
How to Sell Crypto – eToro Tutorial
The following steps would take you on how to sell your cryptocurrencies like Bitcoin, Ethereum, or Ripple on eToro in the most efficient, less costly, and most secure way possible. Step 1: Input Withdrawal Channel
eToro accepts deposits and withdrawals using credit cards via Visa, Mastercard, and Maestro. These debit cards must be enabled with the function of receiving funds as well, this is the requirement for them to be added as a payment channel.