The advent of cryptocurrency has ushered in a new beginning for online traders, and more so, with the dramatic entry of Ethereum in the market two years ago which has taken technological developments to newer horizons. It shares the same features of Bitcoin, though at a more advanced level, and readily provides a secure gateway that is not only transparent but also user-friendly. This is nothing less than a digital revolution. Exchanging Ether on different platforms is safer, faster and all the more easy now.
No matter how you have earned your Ether- through mining or direct purchase- there would come a time when you would want to transfer all your earnings in hard cash. One of the cheapest and easiest methods of selling Ether is by converting Ether to US dollars. Here are a few different exchanges which provide the benefit:
Coinbase: One of the simplest platforms where you can sell your Ethereum is none other than Coinbase. You can make your conversions on their official website or download the mobile application. At first, you need to create your own Coinbase account, and then enter all the relevant information related to your bank account. Transfer your funds from your Ethereum savings wallet to your Coinbase wallet and then proceed with the auction. Coinbase charges an interest of 1.49% when you are transferring your funds into a Federal bank account or an USD wallet in your Coinbase account. In case you are transferring funds to your PayPal account, you will have to pay a transaction fee of 3.99%.
Gemini: This is yet another exchange account where you can sell your Ether cash in exchange for US dollars. It may be accessed only through the web as it doesn't have a mobile application yet. First, create your profile and then register your bank account details. There's a fee calculator which determines how much you need to pay, based on your one month's trade volume. The transaction fee ranges from about -0.1% to 0.25%.
Kraken: Similar to Coinbase and Gemini, you need to create your Kraken account first and then link it to your bank account. Once you have provided all the personal details and registered yourself, you can move on to the 'funding' tab for the Ether transactions. Like Gemini, the fees on Kraken is also based on your one-month trade volume and your maker or taker status and remains somewhere between 0 to 0.26%.
If you feel like making some extra money by sitting at home, do check out Ethereum Mining. It is not always possible to sell a cryptocurrency fast because of all the difficulties associated with it. You should be mentally prepared with the cons of cryptocurrency mining.