Converting Ethereum (ETH) to USD or any other traditional fiat currency (Euro, GBP…) is quite a seamless process. Today, many online platforms allow you to sell Ethereum back to USD quickly and easily. However, once you’ve converted your Ethereum to USD, you then need to cash out the USD to your bank account. And this is where you can start encountering issues.
Can I swap Ethereum (ETH) for USD?
Yes, most crypto exchange platforms and service providers offer the ability to swap cryptocurrencies such as Ethereum to traditional fiat currencies, usually US Dollars.
How can I exchange Ethereum for USD?
Exchanging Ethereum (ETH) for USD is very common for cryptocurrency holders and investors looking to access their funds in traditional fiat currency. This step-by-step guide will walk you through the process:
Select a crypto platform: Choose a platform or service that suits your needs and that you can trust. Consider factors like fees, security, reliability, and convenience.
Create a wallet: Ensure you have a secure Ethereum wallet to store your ETH. This can be a hardware wallet, a software wallet, or an exchange wallet. Alternatively, if you already have ETH on an external wallet, you would need to first deposit your ETH to the platform.
Open an account: Before being able to deposit your ETH, you would need to create an account at the platform you’ve selected. You would usually have to submit personal details and pass a KYC verification before being able to interact with the platform.
Deposit ETH to the platform: Once your account is created and verified, you can deposit the amount of ETH you would like to exchange for fiat to the chosen platform.
Sell Ethereum: Once the ETH arrives on the platform, you will be able to exchange your ETH for USD (or any other currency supported by the platform).
Withdraw your funds: Once you've sold your Ethereum, you can withdraw the resulting USD to your bank account or preferred payment method. Make sure to review the platform’s withdrawal policy and associated fees.
How can I buy and sell Ethereum (ETH) with the Xapo Bank app?
You can easily buy, hold, and sell Ethereum (ETH) with the Xapo Bank app. Because your Ethereum wallet sits right next to your USD bank account in the Xapo Bank app, the exchange process from one another is seamless.
To buy or sell Ethereum, open your Xapo Bank mobile app:
Head over to the ‘Wealth’ tab
Navigate to the cryptocurrencies section and select ETH
Click the buy or sell button
Choose the amount and validate the order
Join Xapo Bank today to access Ethereum seamlessly.
