How to sell LINK coin? What are the methods for selling LINK coin?

Selling Chainlink (LINK) is possible through cryptocurrency exchanges like Binance, Coinbase, and Kraken, or peer-to-peer marketplaces like LocalBitcoins and Paxful.

Oct 21, 2024 at 08:06 am

How to Sell LINK Coin: Comprehensive Guide

Chainlink (LINK) is a popular cryptocurrency used to power decentralized applications (dApps). If you're looking to sell your LINK coins, here are several methods you can consider:

1. Cryptocurrency Exchanges

• Binance: One of the largest and most trusted crypto exchanges offering LINK trading pairs against major fiat currencies (e.g., USD, EUR) and cryptocurrencies (e.g., BTC, ETH).
• Coinbase: A user-friendly exchange with a simple interface. It supports LINK trading pairs against USD and a limited number of cryptocurrencies.
• Kraken: A veteran exchange known for its security and advanced trading features. It offers LINK trading pairs against USD, EUR, and a variety of cryptocurrencies.

Steps to Sell on Cryptocurrency Exchanges:

1. Create an account with the chosen exchange.
2. Complete the verification process to enhance your withdrawal limits.
3. Fund your account by depositing crypto or fiat currency.
4. Navigate to the trading section and select the LINK/desired currency pair.
5. Enter the amount of LINK you want to sell and choose the "Sell" option.
6. Review the order details and confirm the transaction.

2. Peer-to-Peer (P2P) Marketplaces

• LocalBitcoins: A popular P2P marketplace where users buy and sell LINK directly with each other.
• Paxful: Another well-known P2P platform that offers a wide range of payment options for LINK trades.

Steps to Sell on P2P Marketplaces:

1. Create an account and verify your identity.
2. Post a selling offer, specifying the amount of LINK, price, and payment method.
3. Wait for potential buyers to contact you.
4. Communicate with the counterparty and agree on the terms.
5. Receive payment and release the LINK coins to the buyer.

3. Hardware Wallets

Some hardware wallets, such as the Ledger Nano X and Trezor Model T, allow you to sell cryptocurrencies directly from the wallet interface through integrated exchange partners.

Steps to Sell Using Hardware Wallets:

1. Connect your hardware wallet to the exchange partner's platform.
2. Select the LINK coins you want to sell and the desired currency.
3. Enter the amount and confirm the transaction on the hardware wallet.
4. The coins will be sold, and the proceeds will be credited to your exchange account.

Additional Considerations:

• Fees: Different platforms have varying fees for selling LINK, including transaction fees, withdrawal fees, and exchange fees.
• Slippage: Market conditions can affect the price you receive when selling LINK, resulting in a difference between the expected and actual price.
• Security: Keep your private keys and wallet information secure when selling LINK on any platform.
• Tax implications: Consult with a tax professional to understand the tax implications of selling LINK in your jurisdiction.