How to sell THORChain(RUNE) coins safely

By utilizing reputable exchanges like Binance, Huobi Global, or KuCoin, individuals can safely sell their THORChain (RUNE) coins while maximizing security and liquidity.

Dec 09, 2024 at 08:19 pm

How to Sell THORChain (RUNE) Coins Safely: A Comprehensive Guide

THORChain (RUNE) is a decentralized blockchain network that enables cross-chain liquidity and token swaps without the need for intermediaries. If you own RUNE coins and wish to sell them securely, follow these steps:

Step 1: Choose a Reputable Exchange

• Binance: Binance is a global cryptocurrency exchange offering a wide range of trading pairs, including RUNE/USDT and RUNE/BTC. It provides high liquidity and robust security measures.
• Huobi Global: Huobi Global is another major cryptocurrency exchange with a strong track record. It supports RUNE/USDT and RUNE/BTC pairs, as well as RUNE staking.
• KuCoin: KuCoin is a popular cryptocurrency exchange for emerging coins and tokens. It offers RUNE/USDT and RUNE/BTC trading pairs with competitive fees.

Step 2: Create an Account and Verify Your Identity

• Visit the exchange's website and click on the "Register" or "Sign Up" button.
• Enter your email address, create a password, and agree to the terms of service.
• Verify your email address by clicking the link sent to you via email.
• Complete the KYC (Know-Your-Customer) process by providing personal information and uploading supporting documents, such as your passport or driver's license.

Step 3: Deposit RUNE Coins to Your Exchange Wallet

• Once your account is verified, navigate to the "Deposit" section of the exchange.
• Select the RUNE token and generate a deposit address.
• Transfer your RUNE coins from your external wallet or another exchange to this deposit address.

Step 4: Place a Sell Order

• Go to the "Trade" or "Exchange" section of the platform.
• Select the RUNE/USDT or RUNE/BTC trading pair.
• Choose the "Sell" option.
• Enter the amount of RUNE coins you wish to sell or choose the "Max" option to sell all of your RUNE holdings.
• Select the order type (e.g., market order or limit order) and click "Sell RUNE."

Step 5: Withdraw Fiat or Cryptocurrency

• After your sell order is completed, you can withdraw the proceeds in fiat currency or cryptocurrency.
• Navigate to the "Withdraw" section of the exchange.
• Select the currency you wish to withdraw, enter the amount, and provide the recipient address.
• Process the withdrawal request and wait for the funds to arrive in your external wallet or bank account.

Additional Tips for Selling RUNE Coins Safely

• Use two-factor authentication (2FA): Enable 2FA on your exchange account to enhance security and prevent unauthorized access.
• Set up withdrawal confirmation: Configure your exchange to require confirmation via email or mobile phone before processing withdrawals.
• Store RUNE in a hardware wallet: For long-term storage, consider moving your RUNE coins to a hardware wallet for offline protection.
• Research and choose reliable buyers: If you are selling RUNE coins through a peer-to-peer marketplace or over-the-counter (OTC) transaction, conduct thorough research and only deal with reputable buyers.
• Be aware of scams: Beware of phishing scams and fake websites impersonating legitimate exchanges. Always double-check the URL and sender's email address before providing personal or financial information.