How to sell your extras?
The extras have been set up so that you familiarize yourself with the use of an exchange:
- create an account
- create a deposit address for your extra
- deposit your extras
- sell your extras for bitcoins
- withdraw your bitcoins
LWOS doesn't pretend to teach you how to do it. It is up to you to look for yourself, it is much more fun.
Exchanges, there are plenty: it grows like mushrooms. Seriousness and quality are not always present. Unfortunately, there is not always the choice when there is only one exchange that proposes the coin that one wants to sell.
However, the steps to be taken are always the same. What will change from one exchange to another will be:
- deposit fees (generally 0)
- withdrawal fees
- trade fees (generally 0.20%)
- the minimum amount for placing an order.
Extras represent small values, so you'll probably run up against the minimum threshold to place an order. You will then have to wait to accumulate enough extras to launch an order.
When you have sold your coins, you will probably want to withdraw your bitcoins. You will then realize that withdrawal fees are for Bitcoin very important.
To overcome this problem, it is possible to:
- Sell coins for DOGE (2 choices):
-- sell directly coin/DOGE
-- sell coin/BTC then buy DOGE/BTC
(It is up to you to calculate the most profitable for you.)
- Create an account on Poloniex and create a deposit address for DOGE
- Withdraw your doges to Poloniex
- Sell your doges for bitcoins on DOGE/BTC market
- Withdraw your bitcoins to your wallet.
Why use Poloniex? Because, on Poloniex, the widthdraw fees are only to 0.0001 BTC.
Why use DOGE? Because DOGE has volume on market, low transfer fees and fast.