What you’ll learn
- The key things to consider about selling
- On & Off Ramps
- Choosing where to sell
- Selling step-by-step
At this stage in our series of articles explaining how to use cryptocurrency you should understand the options for safely storing your crypto in a wallet; how to send/receive as well as the function of an exchange and how to buy crypto. The final step in the basic transactional cycle for using crypto is understanding how to sell or convert cryptocurrency.
The world of cryptocurrency uses a lot of unique and colourful jargon. In many ways this is what makes it different, but can also be off-putting for newcomers.
The terms on/off-ramp are good examples; they simply refer to the process of moving in and out of crypto from your local currency, like getting on/off a motorway.
Just like driving, you need to be aware of what’s going on as you look to sell your cryptocurrency and move the proceeds back into your bank account.
Logically the off-ramp process (selling) cryptocurrency should simply involve the reverse of the on-ramp (buying); unfortunately, it isn’t quite that simple.
We explain exactly why below, though be aware this article is focused on how to sell your cryptocurrency; the question of when is more complex and is covered in our section on how to trade cryptocurrency.
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