How to Sell Ethereum for USD | Beginners Guide

ethereum to usd

Editor’s note: This article was updated on 05/04/2022 to reflect changes in fees to major exchanges.

Whether you’ve earned Ethereum through mining or purchased Ethereum, there may come a time where you want to cash out some of your stash for good ol’ fashioned U.S. dollars. 

The easiest and cheapest way to sell Ethereum is by using an exchange with an ETH/USD pairing. Each platform has a unique process, but generally you can cash out your Ethereum for USD on an exchange by:

  • Having or creating an account on an exchange connected to your bank account
  • Sending your Ethereum to the exchange wallet
  • Selling the Ethereum for USD
  • Withdrawing the USD into your traditional bank account
  • Paying any associated fees

In this brief article, we’ll walk you through the selling process on three of the most popular exchanges used to sell Ethereum.

Ethereum Price in USD

Before you sell your Ethereum, you might want to check its current price in USD to know how much you can expect on an exchange. 

In 2022, Ethereum’s price has ranged between $2,604 and $3,383 as of May.

You can use our current price tool to see how much your Ethereum is worth.

How to Sell Ethereum on Coinbase

Coinbase is the simplest platform to sell Ethereum for USD. They have web and mobile interfaces that you can use to sell, but we’ll only cover the web platform here. The steps to sell on the mobile app are almost identical.

First, create a Coinbase account and enter your bank account information. After that, you need to send your Ethereum from its current wallet to your Coinbase wallet.

Next, click the “Send/Receive” button on the dashboard and navigate to the “Receive” tab. Select Ethereum under “Asset” and you’ll be shown the public address to which you can send your funds.

After sending your Ethereum to your Coinbase wallet, click on the “Buy/Sell” tab. Then, select the “Sell” option and make sure your currency is set to Ethereum.

From there, you can set how much Ethereum you’d like to sell and confirm your transaction. Coinbase charges 1.49% when selling into a U.S. bank account or USD Coinbase wallet. Sales to a PayPal account are hit with a 3.99% fee.

Pro tip: Coinbase Pro is a slightly more complex product from the same company, but offers the ability to sell Ethereum for much lower fees.

Then, your work is done! All you have to do is wait for the USD to hit your traditional bank account. For US bank accounts, it can take from 1-5 business days to receive your cash.

How to Sell Ethereum on Gemini

Gemini is another exchange you can use to sell your Ethereum for USD. The platform is slightly more complicated than Coinbase, and also offers a mobile app.

To sell Ethereum through Gemini, you first need to create or have a profile attached to your bank account. Next, navigate to the ETH deposit section of the platform via the “TRANSFER FUNDS” tab at the top of the screen.

 Here, you’ll be given a public address that you can transfer your funds.

With Ethereum in your account, click on the ETH → USD option under the “SELL” tab. You can sell your Ethereum just as you would trade any other cryptocurrency by placing an order or taking an order off the books.

Gemini uses a fee schedule to determine the fees when you trade Ethereum. This number is determined by your 30-day trading volume and whether or not you’re a maker or a taker. The fees range from -0.1% to 0.25%.

After you’ve traded your Ethereum for USD, you can then withdraw it to your bank account with no additional fees.

How to Sell Ethereum on Kraken

To sell your Ethereum on Kraken, you once again need to create or have an account that is connected to your bank. 

You additionally need to get Tier 1 verification by entering your full name, date of birth, country of residence, and phone number.

Once verified, you can move your Ethereum to Kraken by navigating to the “Funding” tab. From there, just choose “Ether” and generate a new address to send your currency to.

Similar to Gemini, you can either place an order or fill one that’s already been placed when selling.

The Kraken fees are also calculated by your 30-day trading volume and maker/taker status. These fees are typically between 0.00% and 0.26%.

Final Thoughts: The Best Place to Sell Ethereum

No matter what your reasons are for wanting to cash out your Ethereum, you can sell Ethereum quickly and easily online using an exchange of your choice.

Make sure you check the conversion rate before selling, and be aware of any exchange-specific fees or delays that may apply.

While looking for the best place to sell your Ethereum, you should be mindful of a few incredibly important things:

  1. Make sure you’re sending your Ethereum to the correct address. Copy and paste directly from your exchange wallet and verify to avoid a loss of funds. 
  2. Try to limit the number of transactions. Ethereum’s network fees can be fairly pricy at times, so try to minimize as many sends as possible.
  3. Use an exchange you trust. All the exchanges mentioned above have been trusted by the industry for nearly a decade. 

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ABOUT THE AUTHOR

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ABOUT THE AUTHOR

Based in Austin, TX, Steven is the Executive Editor at CoinCentral. He’s interviewed industry heavyweights such as Wanchain President Dustin Byington, TechCrunch Editor-in-Chief Josh Constine, IOST CEO Jimmy Zhong, Celsius Network CEO Alex Mashinsky, and ICON co-founder Min Kim among others. Outside of his role at CoinCentral, Steven is a co-founder and CEO of Coin Clear, a mobile app that automates cryptocurrency investments. You can follow him on Twitter @TheRealBucci to read his “clever insights on the crypto industry.” His words, not ours.