What are the ways to sell Ronin coins?

Selling Ronin (RON) coins involves transferring them to a trading platform, such as a decentralized exchange (DEX), and placing a sell order, which will be executed when a buyer emerges who is willing to pay the desired price.

Nov 15, 2024 at 02:30 pm

How to Sell Ronin Coins

Ronin is a sidechain of the Ethereum blockchain, specifically designed for the popular play-to-earn game Axie Infinity. Its native cryptocurrency, known as RON, powers the game's economy, allowing players to purchase, breed, and trade the game's unique digital pets, known as Axies.

Selling RON coins is essential for players who wish to convert their in-game earnings into real-world currency. This guide provides a comprehensive overview of the various ways to sell Ronin coins.

1. Sell on Decentralized Exchanges (DEXs)

Decentralized exchanges (DEXs) are peer-to-peer marketplaces that facilitate the trading of cryptocurrencies without the need for a centralized intermediary. They offer a high degree of anonymity and security, making them a popular option for selling RON coins.

• Step 1: Create a DEX Account: Register for an account on a reputable DEX that supports RON trading, such as Uniswap or SushiSwap.
• Step 2: Transfer RON to Your DEX Wallet: Send your RON coins from your Ronin wallet to your DEX wallet address.
• Step 3: Place a Sell Order: Once your RON coins are in your DEX wallet, you can place a sell order specifying the desired amount of RON you wish to sell and the price per coin.
• Step 4: Wait for Order to Fill: Your sell order will be matched with a buyer's buy order at the specified price or better. Once matched, the transaction will be executed, and you will receive the corresponding amount of cryptocurrency in return for your RON coins.

2. Sell on Centralized Exchanges (CEXs)

Centralized exchanges (CEXs) are online platforms that act as intermediaries in the trading of cryptocurrencies. They provide a more traditional trading experience similar to centralized stock exchanges and offer a wider range of trading options, including margin trading and stop orders.

• Step 1: Create a CEX Account: Register for an account on a reputable CEX that supports RON trading, such as Binance or Coinbase.
• Step 2: Transfer RON to Your CEX Wallet: Send your RON coins from your Ronin wallet to your CEX wallet address.
• Step 3: Place a Sell Order: Once your RON coins are in your CEX wallet, you can place a sell order specifying the desired amount of RON you wish to sell and the price per coin.
• Step 4: Wait for Order to Fill: Your sell order will be matched with a buyer's buy order at the specified price or better. Once matched, the transaction will be executed, and you will receive the corresponding amount of cryptocurrency in return for your RON coins.

3. Sell Over-the-Counter (OTC)

Over-the-counter (OTC) trading involves selling your RON coins directly to a buyer, without going through an exchange. This method is often used for large transactions or when traders wish to maintain greater anonymity.

• Step 1: Find a Buyer: Network with other traders, reach out to potential buyers, or use OTC trading services to connect with interested parties.
• Step 2: Negotiate Terms: Discuss the terms of the trade, including the amount of RON you wish to sell, the price per coin, and the payment method.
• Step 3: Transfer RON: Once the terms are agreed upon, transfer the specified number of RON coins to the buyer's wallet address.
• Step 4: Receive Payment: Receive the agreed-upon payment method from the buyer, which can include fiat currency, cryptocurrency, or other assets.

4. Sell Using Ronin DEX (Katana)

Katana is the official decentralized exchange (DEX) for Ronin, allowing users to trade RON and other tokens within the Axie Infinity ecosystem without leaving the Ronin network.

• Step 1: Connect Your Ronin Wallet:** Connect your Ronin wallet to the Katana DEX.
• Step 2: Go to "Trade" Page:** Navigate to the "Trade" page within the Katana DEX.
• Step 3: Select RON Pair:** Select the trading pair RON/ETH or RON/USDC, depending on the preferred trading currency.
• Step 4: Place a Sell Order:** Specify the desired amount of RON to sell and the price per coin.
• Step 5: Wait for Order to Fill:** The sell order will be placed on the order book and will be executed once a matching buy order is found.

5. Sell Using a Third-Party Aggregator

Third-party aggregators provide a simplified way to sell RON coins by connecting multiple exchanges and providing a consolidated view of market prices. This method offers greater convenience but may introduce additional fees.

• Step 1: Choose an Aggregator: Select a reputable third-party aggregator that supports RON trading.
• Step 2: Transfer RON to Exchange:** Transfer your RON coins from your Ronin wallet to an exchange that supports trading on a reputable third-party aggregator.
• Step 3: Place a Sell Order:** Through the third-party aggregator, place a sell order specifying the desired amount of RON to sell and the price per coin.
• Step 4: Review and Confirm:** Review the order details carefully and confirm the transaction to initiate the sale.

6. Sell Using a Mobile Wallet

Some mobile wallets offer built-in exchange functionality, allowing users to sell RON coins directly from their mobile devices.

• Step 1: Create a Mobile Wallet: Download and create a mobile wallet that supports RON and provides exchange functionality.
• Step 2: Transfer RON to Wallet:** Transfer your RON coins from your Ronin wallet to your mobile wallet.
• Step 3: Initiate Swap:** Locate the exchange feature within the mobile wallet and select the RON/ETH or RON/USDC trading pair.
• Step 4: Enter Amount and Confirm:** Input the desired amount of RON to sell and confirm the transaction to initiate the swap.

7. Sell Using a Cryptocurrency Broker

Cryptocurrency brokers offer a convenient way to sell RON coins and may provide additional services such as tax reporting and customer support.

• Step 1: Choose a Broker: Research and select a reputable cryptocurrency broker that supports RON trading.
• Step 2: Create an Account:** Register for an account with the chosen cryptocurrency broker.
• Step 3: Verify Identity:** Complete the broker's identity verification process, which typically involves submitting personal information and documentation.
• Step 4: Fund Account:** Transfer your RON coins from your Ronin wallet to your brokerage account.
• Step 5: Place a Sell Order:** Through the brokerage platform, place a sell order specifying the desired amount of RON to sell and the price per