It is often difficult for beginners in the crypto world to understand the issue of buying virtual coins. And this is not surprising. Almost every cryptocurrency has its characteristics. For example, Ripple requires a Destination Tag for a transfer and blocks 20 coins when creating an address. With Bitcoin, you need to enter the commission yourself, hoping not to overpay too much and not let the transaction freeze.
Operations with Ethereum also have their peculiarities. We have already considered how to replenish a .088 eth to usd and the question: where can you earn it without investments? Today we will pay attention to withdrawing crypto coins and cashing them out. Consider how to withdraw Ethereum from your wallet as conveniently, quickly, and profitably as possible.
How to withdraw Ether from your wallet – what you need to know before exchanging.
So, the essence of cashing out Ethereum is clear – to exchange cryptocurrency first for any electronic money and then – withdraw it to cash. The general sequence of actions in all methods is the same – the only difference is in the intermediary sites used. So, you can withdraw Ethereum from your wallet using exchanges, multicurrency online wallets, and exchanges. These are the 3 main types of platforms for conversion.
With their help, Ether can be exchanged 0.29 eth to usd currency with crediting to a Visa / MasterCard bank card or payment system (such as WebMoney, Qiwi). Often, it is more profitable to use a card right away because, in most cases, an additional commission is charged for withdrawing from an EPS to a card.
The use of conversion platforms is necessary since sending money directly from the crypto wallet to a card or account in the payment system is impossible. First, you need to exchange them for the desired currency.
Before withdrawing money from an Ethereum wallet, it is essential to consider 1 more point: if the coins are in paper storage, then spending even a part of the total amount requires entering a private key on the Web. This means that the overall level of storage security is reduced. If you want to continue storing coins in the “cold mode,” you will need to create a new wallet and transfer the rest there. This procedure must be carried out after the money is withdrawn from the wallet. For this reason, paper vaults are usually preferred by those who buy large amounts of Ether for long-term storage.
How to withdraw money from an Ethereum wallet through an exchange?
If you store Ethereum on the exchange, there is nothing complicated here – the crypt must be exchanged for fiat (rubles, hryvnias, dollars) and withdrawn in any way available on the service. However, if the money is stored on another wallet (hardware, paper, desktop), then cashing out requires an initial deposit of funds to the exchange account.
To withdraw money, you can choose any exchange you trust; however, initially, find out all the information about the commissions, limits, EPS with which the service works, and the timing of card verification if you have not gone through this procedure yet. It is possible that the conditions may not suit you according to some criteria (for example, a limit that is too high or a commission for withdrawing fiat).
The procedure for depositing funds to an exchange account is very simple and common to all platforms:
- You need to go to the Ethereum storage interface on the exchange. This can be done in the sections “Wallet” and “Balances” they may be called differently, but the essence is clear.
- Then select “Top up.” On some services, this option is indicated by a button with a plus sign. The system will generate an Ethereum address for you to copy.
- Now you should enter the wallet interface where you store Ether. In the “Send” section (a minus can also indicate it), enter the previously copied recipient address in the appropriate field. That is your address, only on the exchange. After confirming the transaction, the funds will be debited from the main wallet and credited to the sale.
