What are the methods to sell THORChain(RUNE) coins?

To sell THORChain (RUNE) coins, you can choose between centralized exchanges (CEXs), decentralized exchanges (DEXs) via crypto wallets, or peer-to-peer (P2P) platforms that facilitate direct exchange between individuals.

Dec 13, 2024 at 10:45 am

Methods to Sell THORChain (RUNE) Coins

THORChain (RUNE) is a decentralized cross-chain liquidity network that enables the exchange of crypto assets across different blockchains. If you hold RUNE coins and want to sell them, several methods are available. This comprehensive guide will provide detailed instructions on each method to help you choose the best option that suits your needs.

Method 1: Centralized Exchanges (CEXs)

1. Create an Account on a CEX:

To sell RUNE coins on a centralized exchange, you first need to create an account. Choose a reputable exchange that offers RUNE trading, such as Binance, KuCoin, or Huobi Global. Visit their website, click "Create Account," and complete the registration process by providing your email address, creating a password, and verifying your identity.

2. Deposit RUNE to Your Account:

Once your account is created, you need to deposit your RUNE coins into it. Navigate to the "Deposit" section of the exchange, select RUNE, and generate a deposit address. You can then send your RUNE tokens from your wallet or another exchange to this address.

3. Sell RUNE on the Exchange:

Go to the trading page for RUNE, where you can view the current market price. Determine the amount of RUNE you want to sell and the price you are willing to accept. Choose the "Sell" option and place a limit order or a market order. A limit order allows you to specify the minimum price at which you want to sell, while a market order sells your RUNE immediately at the current market price.

4. Withdraw Funds to Your Bank Account:

After selling your RUNE coins, you can withdraw the funds to your bank account. Go to the "Withdraw" section of the exchange, select the currency you want to receive (e.g., USD, EUR), and enter your bank account details. Enter the amount you want to withdraw and confirm the transaction.

Method 2: Decentralized Exchanges (DEXs)

1. Access a DEX via Wallet:

To use a decentralized exchange (DEX), you need to access it through a crypto wallet that supports THORChain. Popular wallets include THORWallet, XDEFI Wallet, and Guarda Wallet. Download the wallet, create a new account, and make sure it is compatible with Thorchain.

2. Connect Wallet to DEX:

Visit the website of a DEX that supports RUNE trading, such as ThorSwap or Asgard Exchange. Connect your crypto wallet to the DEX by clicking the "Connect Wallet" button and following the instructions.

3. Initiate Swap:

On the DEX dashboard, navigate to the swap section and select RUNE as the asset you want to sell. Choose the coin or token you want to receive in exchange, such as BTC, ETH, or BNB. Enter the amount of RUNE you want to swap and check the estimated amount you will receive.

4. Approve and Confirm Transaction:

Click the "Swap" button to initiate the transaction. Your wallet will prompt you to approve the swap and pay a small gas fee. Once you confirm the transaction, the DEX will execute the swap and send the corresponding funds to your wallet.

Method 3: Peer-to-Peer (P2P) Platforms

1. Find a P2P Marketplace:

Several peer-to-peer (P2P) platforms facilitate the direct exchange of crypto assets between individuals. LocalBitcoins, Paxful, and Bisq are reputable P2P marketplaces that support RUNE trading.

2. Create an Offer or Find a Buyer:

On these platforms, you can either create an offer to sell your RUNE coins at a specified price or search for buyers who have posted purchase orders. Browse through the available offers or create your own, indicating the amount of RUNE you want to sell and the preferred payment method.