Cashing out altcoins


Rumi Tever asked 1 year ago

Hi. Firstly, that you so much for this site, it really helped me getting into the cryptocurrency world!
My question is, I made nice profits from buying altcoins (litecoin, stratis, XEM, monero, etc.). I wanted to know what is the best way to cash out. As of now, I am exchanging them for litecoin or etherum on shapeshift (and sometimes changelly), then deposit them into my coinbase account, and then selling for USD (on coinbase). I understand that I’m paying a couple of fees with all this, and I was wondering if there is a cheaper way to do this. Thanks again!

1 Answers
Zsofia Elek answered 1 year ago

Hi Rumi, thanks for the feedback on the site. Regarding to your question, what you are doing is already a good solution to cash out altcoins. You can also use such exchanges where you can sell these altcoins directly for USD, that could save you some fee from Coinbase. You could use Kraken for this for example.

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