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How to Sell & Cash Out Ethereum (ETH)

by Pat

Content Manager

Many users believe in Ethereum (ETH)’s potential for growth, especially that the roadmap for Ethereum 2.0 and the anticipated updates will make the Ethereum network more appealing to developers, users, and traders.

In fact, non-zero ETH wallet addresses hit the 100 million mark in August 2023, and a November 2023 CoinShares Digital Asset Quarterly Fund survey revealed that major wealth fund managers favor ETH over Bitcoin (BTC) in having better growth opportunities.

However, some users sell their tokens for emergency needs, to take profits, diversify funds, manage risk, or take advantage of new opportunities. If this sounds like you, but you don’t know how to sell and cash out ETH, here’s a quick guide.

What Is ETH?

The Ethereum token, also known as Ether, or ETH for short, is the native digital currency of the leading blockchain network, Ethereum.

Each operation on the network, whether it's a financial transaction, the execution of a smart contract, or an interaction with a decentralised application (dApp), requires processing power, for which users pay in ETH. This payment, often referred to as a 'gas fee,' compensates network participants for their computational efforts. ETH can also be traded as an investment asset or be used to send crypto payments to friends, family members, or merchants.

Where Can You Sell & Cash Out ETH?

You can sell and cash out your tokens using Ka.app, an online crypto wallet that allows you to quickly convert crypto to cash and withdraw funds to an external IBAN. Some crypto exchanges, online brokers, and crypto automated teller machines (ATMs) also provide options for selling ETH.

How to Sell & Cash Out ETH on Ka.app

It’s easy to sell and cash out ETH on Ka.app, even for beginners. There are two steps to do it: first, convert ETH to euro (EUR) and then withdraw via IBAN. Just follow the instructions below.

a.   Convert ETH to EUR

convert ETH to euro
  1. Log in to the app.
  2. Activate cash to use EUR and generate your own crypto IBAN.
  3. After activating cash, go to the home screen and tap ETH.
  4. Then tap the “Swap” icon to swap ETH for EUR.
  5. Enter the amount of ETH you want to convert to EUR.
  6. Enter your passcode to confirm the transaction.

b.  Cash Out EUR via IBAN

withdraw euro
  1. Go to the home screen and tap EUR.
  2. Tap the “Withdraw” icon.
  3. Enter the details of your external IBAN.
  4. Confirm the withdrawal by entering your passcode.
  5. Wait for the funds to arrive in your external IBAN.

Note: This feature is only available to European Economic Area (EEA) users. We will announce it as soon as it becomes available in other regions.

How Long Does It Take to Cash Out ETH via Ka.app?

Ka.pp processes transactions quickly. Usually, it takes just a few seconds to transfer funds from your wallet to an external IBAN.

How Much Are the Withdrawal Fees?

Ka.app has an outgoing Single Euro Payments Area (SEPA) fee worth 0.19% of the transaction amount. However, if this percentage amounts to less than €1, the charge will be €1.

Final Thoughts

Whether need to liquidate assets for immediate use or are looking to capitalise on market trends, selling and cashing out your ETH tokens is convenient on Ka.app. Its user-friendly interface simplifies the process, making it accessible even to crypto beginners. If you haven’t already, sign up on Ka.app now. You can also participate in our crypto referral program and earn rewards.

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FAQ

What Is Ka.app?

Ka.app is a crypto payment platform specifically designed for quick, easy, and secure peer-to-peer (P2P) transactions. You can send crypto for free when other app users accept your payments in the same currency (e.g., sent and received in BTC). Also, you can swap one crypto for another or convert tokens to euros, and earn up 15% annual percentage yield (APY) on your KASTA tokens by locking them up for six months.

What Is IBAN?

An IBAN, which stands for International Bank Account Number, is a unique code designed to streamline cross-border payments to reduce errors and ensure efficient processing of transactions.

Widely used in Europe and many other parts of the world, this system helps banks and financial institutions accurately process international payments by providing a standardised format for account identification. AN IBAN usually includes a country code, two check digits, and a detailed number that includes the bank and account details.

What Is SEPA?

The European Union (EU) established SEPA to lower the cost of transferring EUR across international borders, while making cross-border transactions as effortless as domestic ones. This initiative encompasses not only the 27 EU countries but also extends to other nations including Iceland, Liechtenstein, Norway, Switzerland, Monaco, and San Marino.

What Is the Best Way to Sell ETH?

Ka.app provides an effortless way to sell ETH. However, the best way is the method you’re most comfortable using. You can explore different methods—starting with Ka.app—to determine your preferences.

How Can I Buy Crypto with Cash on Ka.app?

There are different ways to buy crypto on Ka.app: using a credit/debit card, doing a bank transfer, or depositing EUR in the app via IBAN and then converting EUR to crypto. Please activate your cash account in the app to buy crypto with cash.

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