How to Sell Ethereum (ETH) in New Zealand

Ever since its emergence, Bitcoin (BTC) has been among the most wanted cryptocurrencies. Many traders were looking forward to buying or selling BTC at a crypto exchange. The popularity of Bitcoin has further led to the appearance of numerous crypto tokens that can be used for a range of different purposes. 

The one that was to become the second-most popular and second-greatest by volume is Ethereum (ETH). Its features and capacities have made it famous and wanted by crypto enthusiasts. Hence, it’s no wonder why many people are seeking to buy and sell Ethereum.

What is Ethereum network and ETH coin?

In essence, Ethereum is a decentralized software platform run by blockchain technology. It establishes a peer-to-peer (P2P) network that safely carries out and verifies application code named smart contracts.

These smart contracts enable participants to interact and transact with one another without a reliable central authority. Transaction records are unchangeable, verifiable, and safely distributed on the network, offering participants complete ownership and insight into transaction data. Every participant has a copy of the record, so they can see all previous transactions. 

Transactions are sent and received via Ethereum accounts created by the network users. A sender has to sign transactions and spend Ether (ETH), the network’s native token, as an expense handling transactions on the blockchain network.

Just like BTC, ETH can be used to purchase and sell goods and services. However, what’s specific about Ethereum is that its holders are able to build apps that run on the network. These applications can keep and transfer personal data or deal with complicated financial transactions.

How are Ether (ETH) and Ethereum different?

Ether (ETH), the native cryptocurrency of the Ethereum network, can be used as a virtual currency in financial transactions, a store of value, or as a trading asset. Ethereum, on the other hand, is the blockchain network on which ETH is kept and exchanged.

How can you sell Ethereum for USD?

Interested participants willing to sell ETH first need to find a reliable crypto exchange. CEX.IO is an ecosystem of crypto services with a nearly decade-long experience that has received multiple accolades by respectable companies and portals. It also employs a security system that keeps all your credentials encrypted. 

To sell ETH at CEX.IO, you need to create an account first. The registration process is fairly straightforward and is completed within minutes. You only need to provide your name, valid email address, and identity proof such as a copy of your ID or passport. Once your account is verified, you’re all set to start selling. 

Sell ETH via the CEX.IO mobile app

Probably the fastest way to sell your ETH tokens is by using the CEX.IO App. 

• Open the CEX.IO App and go to the Wallet tab;
• Tap Send;
• Select ETH and the currency that you want to receive;
• Enter the amount to sell and choose where to send the proceeds (debit/credit card, bank account, or crypto address for direct withdrawals);
• Tap Proceed to finish the process. 

Please note that to use the Sell feature, customers should link a credit or debit card (VISA or Mastercard) beforehand. In case they haven’t done so already, CEX.IO will require to do it during the transaction.

Now that you know how to sell Ethereum in New Zealand in the most convenient way, you may want to try other products out. 

Sell ETH using the Convert feature

If you want to sell Ethereum for Bitcoin or any other cryptocurrency, use the Exchange feature in the CEX.IO app.

• Open the app and switch to Wallet tab;
• Tap Convert
• Choose ETH as the currency you want to exchange;
• Choose BTC or any other crypto as the currency you’d like to receive;
• Tap Convert to finish the exchange process.

Withdraw ETH

Customers willing to withdraw their ETH to external wallet address can do that by following the steps below: 

• Open the CEX.IO App and tap Wallet;
• Choose to Send
• Select ETH from the list of currencies;
• Tap Select payment method and choose Crypto address;
• CEX.IO will ask you to add an address to which you want to withdraw your ETH, so tap the Add new address button;
• Enter the amount and click Proceed.

Sell ETH using trade orders

Eligible participants can take advantage of the trader orders feature — limit and market. The Spot Trading functionality can potentially provide more control over exchange transactions, particularly with a limit order.

To sell ETH instantly, users can use a market order. Find the Spot Trading option in the Products menu and choose one of the ETH markets. 

Select the Market option, and choose how much ETH you’d like to sell. Enter the amount and click Place Sell Order to complete the process. 

For those seeking more control over their trading, a limit order is at the disposal. This feature allows users to sell ETH at a particular price. 

To place the order, switch to the Limit order type and enter how much ETH you want to exchange. Then enter the price at which you’d like to sell your ETH. As soon as the market price reaches the value you have set, the order will be executed. 

Please, note that, unlike the market, limit order can’t be placed instantly. The reason behind this is the fact that the currency needs to attain the preferred value. With the market order, on the other hand, crypto is sold at the current market price. 

If you want to sell ETH from your digital wallet on the web platform, go to the Wallet page, find ETH in your portfolio, then click the Withdraw button located on the right-hand side of the page.  

How can you sell ETH for NZD?

Nowadays, CEX.IO supports three fiat currencies: USD, GBP, and EUR. However, this doesn’t mean that you can’t buy or sell Ethereum for NZD, a local New Zealand currency.

Customers’ sales and transactions performed in any of the supported currencies will be automatically transferred to NZD once confirmed. The buying process is absolutely the same — the local currency will be automatically converted.

Additionally, U.S. customers can use their Ethereum for PayPal transactions or any other e-wallet like Skrill, Apple or Google Pay. Eligible participants can make use of bank transfers to sell ETH (currently not available in the U.S.). 

How can you buy ETH?

CEX.IO customers can buy ETH and over 150 other cryptocurrencies in different ways, the most convenient of which is Instant Buy.

To buy ETH this way, follow the steps below:   

• Find the Instant Buy feature on the webpage or use the CEX.IO App;
• Select ETH from the drop-down menu of available currencies;
• Enter the amount of ETH you want to buy, or choose the pre-calculated pack;
• Click Buy to complete the process. You’ll need your credit/debit card to pay for ETH. 

Alternatively, eligible participants can use the Convert feature or trade orders. The procedure is absolutely identical to that of selling ETH with the only difference being that a user needs to have some fiat or cryptocurrencies on their CEX.IO balance.

How can you earn crypto rewards on CEX.IO?

Staking enables eligible participants to receive crypto rewards just by keeping assets in their account. CEX.IO includes 14 stakeable cryptocurrencies with this number potentially growing. 

Crypto saving offers another possibility to receive rewards. It requires very little action from the user. Interested participants need to buy or deposit supported cryptocurrencies, and hold them on a dedicated Savings account.