Have you invested in crypto before? Do you know Bitcoin but prefer Ethereum instead? This guide tells you how to sell Ethereum using the eToro platform. Let’s dive in and waste no time!
The Preliminary Steps to Selling Ether
Before selling your tokens, it’s necessary to establish the prerequisites. Your general Ethereum purchase is first described in detail within this guide.
If you own Ethereum, it means you purchased it on a platform.
You already have a crypto wallet.
As a quick reminder, the wallet industry is made up of two families of products. On the one hand, you have cold wallets, which store your crypto securely, protecting them from the dangers of the internet and cyberattacks.
You then have hot wallets.
This last category is easier to use. Typically, exchanges have their own integrated crypto wallets, which is the case for eToro.
eToro
- Number 1 copy trading platform
- Integrated social network for traders
- Trading cryptocurrency CFDs
eToro
Now, you should know that some platforms offer different types of investments but for the same assets. What does that mean?
Well, on eToro as with other brokers, when you buy Ethereum tokens, you become a certified owner. This is the classic way, but you can also choose to trade Ethereum CFDs. In this case, you won’t own Ethereum coins but instead a price contract.
You might get a “virtual” asset that reproduces the price of Ethereum and allows you to earn by betting on its future price action. Now, let’s say you purchased “real” Ethereum crypto.
Your Ethereum gets stored on a crypto wallet. Do you think it’s time to sell part or all of it to get some added value? Whatever you decide, find out how to sell your holdings below.
Though you can also sell Ethereum at an ATM, as part of this tutorial, we specifically cover selling ETH through the eToro exchange.
How to Sell Ether (ETH) On eToro
Below is a step-by-step guide on how to sell Ethereum on eToro. The broker makes this easy with its intuitive interface that can be translated into various languages.
First, Select the Ethereum Crypto
Get to the home page of eToro. For full access, you must verify your identity and register to enter an account. As you probably know, the platform offers thousands of products.
In your case, you’ll want to access the site’s services to sell Ethereum.
There are several ways to do this, but the easiest one is by simply typing “Ethereum” in the search tab. The platform will then offer you three options:
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Ethereum Name Service (ENS)
The last two are not Ether tokens but, instead, derivatives of ETH. In your case, you must, therefore, select “Ethereum (ETH)” by clicking on the corresponding line.
Navigate to the tab associated with Ethereum. You’ll then access an information page for Ether crypto. This tab consists of the following menu options:
Overview
Here is the main tab for Ethereum. This is where you’ll find live price charts and recent quotes. Your ETH charts are 1 day, 1 week, 1 to 6 months or one to 3 years.
Below each chart, the broker offers this set of data:
- Capitalization
- 24-hour trading volume
- Daily highs and lows
- Yearly highs and low
- Compared performance in the entire crypto industry
- Global rank
Statistics
eToro
- Number 1 copy trading platform
- Integrated social network for traders
- Trading cryptocurrency CFDs
eToro
This menu section covers the entire Ethereum network. It includes recent data for:
- Closing prices
- Outstanding circulation
- Trading volume against capitalization
Charts
The “chart” tab allows you to analyze Ethereum price action more closely. From here, you can activate candlesticks and price indicators. Other options include trend-line drawings. Given its breadth of options, the chart tab is suited for more experienced traders.
Analysis
From this menu tab, you’ll find complementary data regarding Ethereum, which includes additional chart types.
News
This is where you’ll find news associated with Ethereum crypto.
Now Sell Ethereum
That’s it, you have reached the last step! All you have to do is sell your Ether. Nothing could be easier. It’s just a few clicks. In fact, simply click the “Invest” button then on “Sell.”
Before confirming your order, the eToro broker asks you to enter the quantity to sell. In addition, on eToro, you can also configure your order. If you trade CFDs, you can, for example, indicate how much leverage you want to use. This is where you need to be careful.
Leverage must be used with caution because it exponentially increases your potential loss. If using leverage, consider activating a STOP LOSS should things not go as you planned.
The Bottom Line
eToro
- Number 1 copy trading platform
- Integrated social network for traders
- Trading cryptocurrency CFDs
eToro
There are several options available to sell Ethereum for cash. If you already own ETH, you can open an account with a reputable exchange and transfer your funds to their online wallet. You can even exchange your ETH tokens for fiat currencies.
Instead, if you’re selling Ethereum to take advantage of price-action trading, go to eToro, and look for Ethereum CFDs. This is how you sell ETH without actually owning any tokens.
