In a previous guide, we discussed how to buy Iota from the US via Coinbase and Binance. This post describes how to sell your Iota for USD.
- On Binance, exchange your Iota for Bitcoin.
- Send your Bitcoin from Binance to Coinbase.
- On Coinbase, exchange your Bitcoin for USD.
Step by Step
1. On Binance, exchange your Iota for Bitcoin
- Log in to your Binance account.
- Go to Binance’s BTC–IOTA exchange: www.binance.com/trade.html?symbol=IOTA_BTC
- In the middle of the page you will see a chart. Just below the chart, there is an interface (below). If Limit is selected, then click Market.
- Once the Market tab is selected, select 100% (this tells Binance "sell all of the Iota in my account"). You can also select a different percentage if you don't want to sell everything.
- Click Sell IOTA.
- To see how much Bitcoin you received, view your 24h Order History (just below the Sell IOTA button).
2. Send your Bitcoin from Binance to Coinbase.
On the top of your screen, hover over Funds and click Withdrawals.
On the next page, click the Select Withdrawals Coin drop-down. Type BTC and select BTC-Bitcoin once it appears.
There will be 2 text boxes: BTC Withdrawal Address and Amount
The BTC Withdrawal Address is very significant.
- Get this by going to Coinbase and clicking the Accounts tab.
- On your Bitcoin wallet, click Receive to view your Bitcoin address.
- Copy and paste this into the Address field on Binance.
On Binance, enter how much Bitcoin you want to send to Coinbase and press Submit.
Click the link in Binance's confirmation email to finalize the transaction.
Your Bitcoin will usually transfer in 10-30 minutes, but in rare cases could take several hours.
View the transfer's status on your Deposit & Withdrawal History page.
Once Coinbase receives your transaction, you can also view it on Coinbase.com/accounts.
3. On Coinbase, exchange your Bitcoin for USD
- Once your transfer completes, go to Coinbase.com/sell
- Enter your desired amount to sell and click Sell Bitcoin.
- Congrats! Your Iota has now been converted to USD.
Best of luck in all of your cryptocurrency pursuits!