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How to sell Ethereum, Ether, ETH?

Even though the Ether has managed the market turbulences at the beginning of 2018 very well and can still be seen as an attractive investment:

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Even though the Ether has managed the market turbulences at the beginning of 2018 very well and can still be seen as an attractive investment: Anyone who has bought Ether (ETH) wants to sell Ethereum again at some point.

A distinction must be made between an exchange in fiat money, such as the Euro or the US Dollar, and an exchange in another cryptocurrency. Furthermore, there is also the possibility to conclude a forward trade by selling Ether (without actually owning the coins) and thus profit from falling prices. I will go into all three cases in more detail below.

1. Exchange Ether for fiat money (e.g. Euro or USD)

The exchange in fiat money is simply the sale of your Ether and the credit of the returns in Euro or USD to your bank account, your credit card or any other method of payment of your choice.

Step 1: Determine the best exchange rate

First you should find out which provider offers you the most fiat money (EUR or USD) for your Ether. Although the numerous price tickers usually show a similar price per Ether, the prices on the individual exchanges can differ significantly. For this reason, it is advisable to first take a look at the various online exchanges and their current prices.

One service that offers a great overview is Cryptowatch. Here you can see at a glance the most important crypto exchanges, and even almost in real time the price on which Ether was sold here recently. Below is a screenshot showing the price per Ether at the different exchanges. Only exchanges that exchange in Euros and/or USD are listed. Exchanges that also support other currencies can also be displayed if required.

Sell Ethereum via Exchange
Source: Cryptowatch

In this example of Cryptowatch (from 2017) it can be seen that there is a price difference of over 20 EUR per Ether. With Kraken you get 148,09 EUR and with Quoine only 126,74 EUR for each Ether. In addition, the EUR / US Dollar exchange rate should always be kept in mind. With Coinbase¹, for example, a change at a rate of 174.96 USD is the best price per Ether also in EUR, because this corresponds to approx. 154 EUR. However, there is also the currency risk, and later a small exchange fee of USD to EUR in case you want get Euro. However, these amounts are usually insignificantly small and depend on the bank or fiat money Institute that makes your withdrawal.

Step 2: Register at a Crypto Exchange

Once you have determined the best exchange rate at a crypto exchange, you have to create an account there. This is usually free of charge.

Note: If you are thinking about trading more frequently with Ether on exchanges, we also recommend an account with a service like Cryptowatch. There you can buy or sell your Ether directly at the desired exchange with a few clicks. However, this service costs about 15 USD/month. So it’s only worth it if you want to trade Ether more regularly.

Step 3: Sell Ethereum on an crypto exchange platform

After you have registered at a crypto exchange platform or service provider for Ethereum, e.g. Coinbase¹, you can sell your ETH there.

If you want to sell Ethereum from your local offline wallet there, you must first “transfer” it to your Coinbase online wallet. First determine the ETH address of your online wallet.

Transfer Ethereum

Afterwards open your offline wallet (e.g. MIST) and click on “send” there.

Transfer Ethereum and sell Ethereum

Then enter the ETH address of your Coinbase online wallet. Afterwards enter the amount of Ether you would like to transfer and click on “Send”.

The defined amount of Ether is then transferred to your Coinbase online wallet. In Coinbase, you can then sell Ethereum to Coinbase via the menu item “Sell”. The amount in Euro or USD will then be credited to your bank account.

2. Exchange Ethers into other cryptocurrencies

The procedure for selling Ether in other cryptocurrencies is a bit easier than exchanging it for fiat money. There are basically two possibilities.

Option 1: Exchange via exchange platform

Similar to exchanging Ether for fiat money, an exchange platform can also be used when exchanging for another cryptocurrencies. Cryptowatch helps you to find the best platform for a currency pair. The following example shows under which conditions Ether can be exchanged for Ripple on Binance¹ or Bittrex.

Cryptowatch price for Ripple

This option can make sense if you have already deposited your ETH credit in an online account at one of the crypto exchanges. Please consider that this is not advisable. The credit can disappear very quickly from the platform in the event of a hacker attack. Howerver, in this example, due to the availability of the coins in the online wallet of the platform, you are only one trade away from owning the new currency.

Option 2: Exchange via crypto-exchange

If you keep your ETH balance in your own wallet and therefore not within the control of a central institution (which is recommended), it would be quite complicated to do the exchange via an exchange platform. First you would have to transfer the balance of Ether to a exchange platform, exchange it there and then transfer the new currency to another wallet. In addition, the transfer of credit between different wallets and service providers can incur fees that make the exchange very costly. If you want to exchange Ether directly from one wallet into another currency (and another wallet), exchange service providers such as Changelly¹ are recommended.

Consider: In addition to the Ethereum Wallet, you will also need a wallet of the currency you wish to buy.

Sell Ethereum via Changelly

After entering the two currencies and the wallet addresses, the transaction can be started. The exchange rate offered by Changelly was quite similar to that offered by the crypto exchanges at the time we tested it. At Changelly, we got 98.5 ripples for 0.1044 Ethers. With a direct exchange at Binance we got approx. 1.5 ripple (about 1.5% more) at the same time. You do not have to register with Changelly and you save the fees which may be incurred when transferring from the currency exchange to the Wallet.

3. Conduct a forward contract for the sale of Ether

As a third option, I have included the sale of Ether as a forward trade through the use of CFDs. CFD stands for Contract of Difference. That’s an agreement between two parties on the difference between the current and future value of an object. The parties shall specify the underlying object of the transaction. The object is therefore often called an underlying. For example, shares, commodities or even cryptocurrencies can serve as the underlying. It is important to note that when trading CFDs you do not physically own the underlying (in our case Ether). The value of the CFD is only linked to the performance of the Ether.

Assuming you want to bet on a falling price of Ethereum. Then you would take a selling position at an Ethereum CFD. If the Ethereum price at the end of the contract period is less than the price at the beginning, you will receive the difference. Optionally, a leverage can often be defined for such a transaction. The leverage multiplies the profit achieved, but also a possible loss in value.

Opportunities and risks in trading CFDs

As described above, it is possible to profit from both rising and falling prices with a CFD (and lose money if the course goes into the wrong direction). Other advantages of trading cryptocurrencies with CFDs are that no wallet is needed, the CFD traders are usually regulated and there is often the possibility to multiply the profits with a lever. These advantages are contrasted by the fact that the functionality of CFDs is not easy to understand. Because of that the loss rate (up to max. 100% of the capital investment) is often slightly underestimated when using a lever.

For this reason, it is very important that you familiarize yourself with the functionality of CFDs before trading. A CFD Broker offering a Training-Account and a 24/7 information hotline for this purpose is Plus500². The service provider also has a very clear platform and charges no commissions for trading CFDs. Financing is done via the spread, i.e. the difference between the purchase price and the sales price of the contracts.

²Affiliate link. 80.5 % of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500UK Ltd authorized & regulated by the FCA (#509909). CFDs are complex instruments and are associated with the high risk of losing money quickly due to the leverage effect. Between 74 % and 89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Summary

If you want to exchange ETH for fiat currency, you should first check which exchange platform offers you the best price. Cryptowatch can be very helpful here. Afterwards you can register at the respective exchange service provider, such as Coinbase¹ and exchange your Ether for Euro.

In case you want to exchange Ether for another crypto currency, you can do this either via an crypto exchange like Binance¹ or via a crypto exchange service like Changelly¹. Which option is beneficial for you depends on where your Ethers are stored and into which cryptocurrency you would like to exchange them.

If you don’t want to sell Ethereum physically, but want to profit from falling prices at short notice, then CFDs are the right instrument. For example, you can trade Ethereum-based CFDs on Plus500². The platform also gives you the opportunity to learn more about how CFDs and other financial products work.

Please note: Just as with the crypto currencies themselves, CFDs are subject to high price fluctuations (volatility). This means that you should only invest the money that you are prepared to lose in the worst case. Furthermore, this contribution does not constitute investment advice.

I wish you a lot of fun and success!

¹Affiliate link
Note: The content on ethblog.de is for information purposes only and does not constitute investment advice or any other recommendation within the meaning of the Securities Trading Act.

Der Beitrag How to sell Ethereum, Ether, ETH? erschien zuerst auf ETHBLOG.

Source: https://ethblog.de/en/how-to-sell-ethereum-ether-eth/

Blockchain

Bitcoin Breaks To New 2020 High on PayPal News: This Was The Weekly Crypto Market Update

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This week was particularly interesting in the cryptocurrency markets. Bitcoin’s price charted a new 2020 high, surging to as much as $13,217 on Binance. The entire market cap surged and gained almost $40 billion throughout the past seven days.

The catalyst for this major move was PayPal. The world’s largest online payment processor announced that it would allow its customers to buy, sell, and store cryptocurrencies as soon as the next few weeks for US-based users. The rest of the world would have to wait for the first half of 2021.

To anyone wondering, PayPal has millions of merchants in its network, and the CEO of the company said that they would work actively into incorporating digital currencies in their system. Moreover, it’s also interesting to see how banks and regulators will react to the news. Almost every bank accepts PayPal transfers, but almost none of them accept Bitcoin transfers.

Almost immediately after that, reports started circling, indicating that PayPal is in talks with BitGo, a leading Bitcoin custodian, over a potential acquisition deal.

In general, the shift towards online payment processing and digital currencies becomes even more apparent in 2020. Whether it’s because of the global pandemic or for other reasons is something that remains to be determined, but here’s an overall outlook of the performance of major companies and banks.

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comparison_chart

Elsewhere, the billionaire investor Paul Tudor Jones III doubled-down on his Bitcoin bet, saying that he likes the cryptocurrency even more following the latest rally and that it’s the best “inflation trade.”

It’s also worth noting that regulators continue their increasing involvement in the field. This week, a Bitcoin mixer was fined $60 million by FinCEN.

It surely was an intensive week, and it’s very interesting to follow the market as we are about to enter the last two months of 2020.

Market Data

Market Cap: $392B | 24H Vol: 95B | BTC Dominance: 60.9%

BTC: $12,878 (+13.69%) | ETH: $408.80 (+11.12%) | XRP: $0.252(+5.81%)

PayPal to Enable Bitcoin and Crypto Purchasing and Selling. The world’s largest online payment processing company, PayPal, has announced that it will allow its users to buy, sell, and store cryptocurrencies. The US-based customers will be able to do so in the coming weeks, while the rest of the world would have to wait until the first half of 2021.

I Like Bitcoin, Even More, It’s The Best Inflation Trade: Billionaire Investor Paul Tudor Jones. Billionaire investor Paul Tudor Jones II has become an even bigger fan of Bitcoin. He said that he likes it even more following the most recent price action and that it is the “best inflation trade.”

Bitcoin Could Register Second Highest Monthly Close in History: Peter Brandt. Bitcoin might be in for the highest monthly close in its relatively short history, according to popular analyst Peter Brandt. That is, of course, if it manages to upkeep its momentum until the end of October.

HODLers: Most Crypto Investors Hold Majority In Bitcoin Over Altcoins, Survey Finds. According to a recent survey, the majority of cryptocurrency investors hold most of their portfolio in Bitcoin. This comes somewhat expectedly, given the latest developments on the market and BTC being able to chart a new 2020 high.

The Biggest Concern of Bitcoin Investors Until The End Of 2020: Will Trump Get Reelected (Survey). In a survey conducted by CryptoPotato, investors revealed that their biggest concern related to the price of Bitcoin in 2020 is the upcoming US 2020 Presidential Election and whether or not Donald Trump will get reelected.

Bitcoin Mixer Penalized by FinCEN With $60 Million in Fines. The United States Financial Crimes Enforcement Network has managed to strike another blow to privacy enthusiasts. The watchdog fined a Bitcoin mixer with as much as $60 million in civil penalties.

Charts

This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash – click here for the full price analysis.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-breaks-to-new-2020-high-on-paypal-news-this-was-the-weekly-crypto-market-update/

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Blockchain

Bullish: Huge H&S Pattern Developing in Bitcoin With $20K Target At ATH

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After quite a volatile rally to $13,000, bitcoin price action has tempered down a bit. But, the case for future gains remains strong, according to a technical setup that popular Youtube and Twitter-based BTC analyst Carl Martin shared today. This will surely get the hopium levels of bulls soaring. According to him, the top cryptocurrency will soon hit the previous all-time high of $20,000. But there’s a catch.

Bitcoin’s Road To $20,000 In 2020 Has An Inverse Head And Shoulders

According to an inverse head and shoulders (IH&S) setup shared by Carl, who, by the way, goes by the name of ‘TheMoon,’ bitcoin price has already cleared the first two stages of the IH&S pattern. Based on this, Carl remarked that the price target of $20,000 is closer than it appears.

btc_hs_oct24
BTC/USD, chart by TradingView, Source: TheMoon

Generally speaking, market participants consider IH&S as one of the bullish indicators apart from the golden cross and some wedge formations. Explosive price runs follow the successful completion of an IH&S pattern. Sometimes the upside targets look similar to the height of the middle trough.

How Does This Setup Play Out?

According to the analyst, the bitcoin price chart printed the first IH&S trough towards the beginning of this year, when BTC rallied in response to ongoing geopolitical conditions. The next formation was after the Black Thursday crash in March. This is when the bitcoin price fell all the way down to $3,858. And then, after a brief bout of sideways trading, began rallying towards April end-May beginning.

BTC formed the third IH&S trough after picking up post the September crash (after a flat trade phase, of course). This is the current rally in which bitcoin surpassed this year’s high and tapped $13,200. Carl said that the next stop is $19,700, but for that, BTC has to post a weekly close above the delineated ‘neckline.’ But will it happen?

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JP Morgan Makes The Case For A Hyper-Bullish BTC

Macro investor Dan Tapiero just shared a snapshot of the ‘Flows and Liquidity Report’ published by JP Morgan analyst Nikolaos Panigirtzoglou. The report, as per him, draws an extremely bullish outlook for bitcoin. And how? Here’s an excerpt:

…the total market capitalization for bitcoin is $240bn. At first glance, this makes it comparable to the total size ofgold ETFs at $210bn. But gold ETFs is not the main way wealth is stored in gold. Wealth is mostly stored via gold bars and coins the stock of which, excluding those held by central banks, amounts to 42600 tonnes or $2.6tr including gold ETFs. Mechanically, the market cap of bitcoin would have to rise 10 times from here to match the total private sector investment to gold via ETFs or bars or coins. even a modest crowding out of gold as an “alternative” currency over the longer term would imply doubling or tripling of the bitcoin price from here. In other words, the potential upside for bitcoin is considerable as it competes more intensely with gold as an “alternative” currency we believe, given that Millenials would become over time a more important component of investors’ unviverse.

Will we see bitcoin posting a weekly close above that neckline, which Carl mentioned? Let’s see.

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Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


Source: https://cryptopotato.com/bullish-huge-hs-pattern-developing-in-bitcoin-with-20k-target-at-ath/

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Blockchain

Kraken Daily Market Report for October 23 2020

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Overview


  • Total spot trading volume at $227.4 million, right at the weekly average of $227.0 million. Bitcoin and Ethereum had a selloff around 16:00 UTC, but subsequently recovered.
  • Total futures notional ($248.9) was well above its 30-day average of $98.0 million.
  • From Yearn (+8.7%) and Gnosis (-9.5%), there was a mix of returns with Bitcoin +0.3% and Ethereum (-1.1%).

October 23, 2020 
 $227.4M traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
XBT 
$12940. 
↓0.3% 
$129.3M
ETH 
$409.80 
↓1.1% 
$35.0M
USDT 
$1.0009 
↑0.0% 
$23.2M
LINK 
$12.160 
↑1.6% 
$13.2M
DOT 
$4.2648 
↓0.09% 
$3.95M
LTC 
$55.444 
↑1.9% 
$3.92M
XRP 
$0.2549 
↓0.9% 
$3.42M
BCH 
$270.75 
↑1.0% 
$2.62M
FIL 
$24.145 
↑2.3% 
$2.61M
USDC 
$0.9999 
↑0.04% 
$2.37M
XMR 
$127.53 
↑0.18% 
$2.14M
XTZ 
$2.2220 
↑1.3% 
$2.02M
ADA 
$0.1081 
↓2.3% 
$1.53M
PAXG 
$1916.2 
↓0.25% 
$1.23M
WAVES 
$3.3673 
↑4.0% 
$1.11M
EOS 
$2.6421 
↓1.0% 
$641K
XLM 
$0.0837 
↓2.1% 
$502K
OMG 
$3.5327 
↑0.9% 
$456K
YFI 
$14893. 
↑8.7% 
$440K
ATOM 
$5.3669 
↓1.5% 
$424K
DAI 
$1.0080 
↓0.02% 
$371K
KAVA 
$1.9168 
↓3.1% 
$342K
KSM 
$27.970 
↓0.6% 
$341K
SNX 
$3.7967 
↓2.8% 
$330K
DASH 
$72.181 
↓3.7% 
$328K
ALGO 
$0.3094 
↓2.2% 
$325K
ZEC 
$63.280 
↓3.4% 
$317K
ETC 
$5.7860 
↓1.1% 
$315K
CRV 
$0.3802 
↓7.0% 
$297K
TRX 
$0.0267 
↓1.3% 
$270K
COMP 
$102.99 
↑0.7% 
$265K
GNO 
$53.930 
↓9.5% 
$218K
BAT 
$0.2217 
↓0.8% 
$199K
SC 
$0.0027 
↓2.1% 
$157K
OXT 
$0.2428 
↑0.5% 
$149K
UNI 
$3.0102 
↓1.1% 
$133K
MLN 
$18.062 
↓8.0% 
$124K
ICX 
$0.3750 
↓1.8% 
$96.3K
REP 
$13.595 
↓0.5% 
$86.1K
QTUM 
$2.2889 
↓2.2% 
$83.3K
KNC 
$0.9331 
↓0.8% 
$79.9K
XDG 
$0.0026 
↓0.11% 
$74.9K
STORJ 
$0.3827 
↓1.5% 
$73.1K
NANO 
$0.8608 
↓3.4% 
$65.9K
BAL 
$12.342 
↓3.9% 
$26.5K
LSK 
$1.1185 
↑0.08% 
$26.2K
REPV2 
$13.602 
↓0.4% 
$3.51K



#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset


The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (October 23 2020)



Figure 2: Mid-size trading assets: (measured in USD) (October 23 2020)



Figure 3: Smallest trading assets: (measured in USD) (October 23 2020)



#####################. Spread %. ##########################################

Spread %


Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.

Figure 4: Average spread % by pair (October 23 2020)



.


#########. Returns and Volume ############################################

Returns and Volume


Figure 5: Returns of the four highest volume pairs (October 23 2020)


Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (October 23 2020)



###########. Daily Returns. #################################################

Daily Returns %


Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (October 23 2020)



###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

Source: https://blog.kraken.com/post/6673/kraken-daily-market-report-for-october-23-2020/

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