how to sell shiba inu coin on trust wallet

Selling Shiba Inu (SHIB) on Trust Wallet involves connecting to a decentralized exchange, selecting a receiving currency, and placing a sell order for the desired price.

Nov 10, 2024 at 09:30 am

How to Sell Shiba Inu Coin on Trust Wallet

As the popularity of Shiba Inu (SHIB) continues to soar, many investors are looking to cash in on their holdings. Trust Wallet, a popular mobile cryptocurrency wallet, offers a convenient and secure platform to sell SHIB and other cryptocurrencies. In this comprehensive guide, we will walk you through the step-by-step process of selling SHIB on Trust Wallet, answering all the potential questions that may arise along the way.

Step 1: Set up Your Trust Wallet Account

If you haven't already done so, you will need to create a Trust Wallet account. This is a straightforward process that can be completed in a matter of minutes. Simply download the Trust Wallet app from the Apple App Store or Google Play Store, create a new wallet, and set up a strong password.

Step 2: Purchase Shiba Inu (SHIB)

Once your Trust Wallet account is set up, you will need to purchase SHIB if you haven't already done so. You can do this by using the built-in exchange feature in Trust Wallet or by sending SHIB from another wallet or exchange. To purchase SHIB using the Trust Wallet exchange, tap on the "Buy" button and select "Shiba Inu (SHIB)." Enter the amount of SHIB you wish to purchase and confirm the transaction.

Step 3: Back Up Your Seed Phrase

Before proceeding, it is crucial to back up your Trust Wallet seed phrase. This 12 or 24-word phrase is used to recover your wallet in case you lose your device or forget your password. Write down the seed phrase on a piece of paper and store it in a safe place.

Step 4: Add Shiba Inu (SHIB) to Your Wallet

If you have not already added SHIB to your Trust Wallet, you will need to do so before you can sell it. To add SHIB, tap on the "Add Token" button and search for "Shiba Inu." Toggle the switch next to SHIB to add it to your wallet.

Step 5: Select a DEx (Decentralized Exchange)

Once you have SHIB in your Trust Wallet, you will need to select a decentralized exchange (DEx) to sell it. Trust Wallet integrates with multiple DExes, including PancakeSwap and Uniswap. Choose a DEx that supports SHIB and offers favorable exchange rates.

Step 6: Connect Trust Wallet to the DEx

Open the DEx website or app and connect your Trust Wallet by following the instructions provided. Typically, you will need to scan a QR code or enter a wallet address. Once your Trust Wallet is connected, you will be able to access your SHIB balance and trade it on the DEx.

Step 7: Place a Sell Order

On the DEx, navigate to the trading page for SHIB. Select the amount of SHIB you wish to sell and enter the desired price. You can also choose to set a limit order, which will execute only when the market price reaches a specified level. Preview the transaction details and confirm the order.

Step 8: Wait for the Transaction to Process

Once your order is placed, it will be added to the order book and wait to be matched with a buyer. The transaction processing time may vary depending on the DEx and the current network conditions. You can monitor the status of your order on the DEx website or app.

Step 9: Receive Your Funds

Once your order is matched and the transaction is processed, you will receive the corresponding amount of the chosen receiving currency in your Trust Wallet. You can check your wallet balance to confirm that the funds have been received.