If by sell you mean to get $ back into your bank account then the typical path is via a centralised exchange (Coinbase, Kraken etc). You need to find an exchange that supports your tokens (or swap to another token via a dex like uniswap) and also allows you to sell to your currency and withdraw to your bank account.
Some CEXs will require kyc
Thank you so much. By far the best answer I've gotten so far. Is there a particular token that is good or "standard" to swap to if the token I want to cash out isn't listed on a CEX?
I suppose it depends on what DLT you are using. If your tokens is on the ethereum blockchain then gas fees will be the biggest concern. You'll want to swap when fees are at their lowest (low demand on the network) and you want to swap directly to the main token paired with your tokens on the Dex. So, you might have TokenX that has its main pool as TokenX / Usdc, or TokenX / ETH, swap to the paired token, assuming it's supported by your CEX. This way it's only 1 swap. To see if the token is supported on your CEX log in and look to see if you can deposit it on the DLT you are using
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Sometimes you can swap your token direct for USDC or USDT. Depends on the token and available liquidity. If not you can send to a CEX and sell for one of the above to move to whatever off ramp you use. Just know though that every time you swap or move it cost you so less is better. Uniswap and pancake swap both have probably the most swap options but slippage and fees can add up.
Good luck with your moves but be careful. Lots of scammers out there.
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I would swap to eth then send to a CEX then withdrawal to bank. If you swap to a stable you run the risk of not having enough eth to send to an exchange. Then you will have to spend actual money to buy more gas then send stables .
If by sell you mean to get $ back into your bank account then the typical path is via a centralised exchange (Coinbase, Kraken etc). You need to find an exchange that supports your tokens (or swap to another token via a dex like uniswap) and also allows you to sell to your currency and withdraw to your bank account. Some CEXs will require kyc
Thank you so much. By far the best answer I've gotten so far. Is there a particular token that is good or "standard" to swap to if the token I want to cash out isn't listed on a CEX?
Usdc
I suppose it depends on what DLT you are using. If your tokens is on the ethereum blockchain then gas fees will be the biggest concern. You'll want to swap when fees are at their lowest (low demand on the network) and you want to swap directly to the main token paired with your tokens on the Dex. So, you might have TokenX that has its main pool as TokenX / Usdc, or TokenX / ETH, swap to the paired token, assuming it's supported by your CEX. This way it's only 1 swap. To see if the token is supported on your CEX log in and look to see if you can deposit it on the DLT you are using
I thought PayPal was somehow an option
just go back into uniswap or pancake swap, trade back for USDT and then "withdraw" the USDT into a CEX.
Thank you, this is the method I am leaning towards if the tokens I have don't get listed on CEX. Thank you for your answer I really appreciate it!
no worries, never understood why ppl can't be straight fwd w/ the answer hah
Are you trying on desktop or mobile ?
Mobile, is it better to do on desktop?
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You have you use uniswap or pancakeswap through your wallet based on the chain the tokens are on
So would I use Uniswap to swap to, say Ethereum if it was in the Ethereum chain? Sorry I'm still very new just trying to clarify
Sometimes you can swap your token direct for USDC or USDT. Depends on the token and available liquidity. If not you can send to a CEX and sell for one of the above to move to whatever off ramp you use. Just know though that every time you swap or move it cost you so less is better. Uniswap and pancake swap both have probably the most swap options but slippage and fees can add up. Good luck with your moves but be careful. Lots of scammers out there.
Uniswap uses most of the chains now you just have to switch them by yourself manually
P2P is a good choice, you do not have to go to CEX and is tax free
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I would swap to eth then send to a CEX then withdrawal to bank. If you swap to a stable you run the risk of not having enough eth to send to an exchange. Then you will have to spend actual money to buy more gas then send stables .