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How to Sell Cardano

If you recently bought Cardano but are unsure how to sell Cardano, you’ve come to the right place. Selling Cardano is similar to buying Cardano but in a slightly reversed order.

Want to know how to sell Cardano? Read our step-by-step guide on how to sell Cardano, including the pros, cons, fees, apps, wallets, & more.

There are different ways you can go about selling Cardano. You can opt to sell directly on a cryptocurrency app or with a wallet. It all comes down to your personal preference. However, the best way to sell Cardano is through a cryptocurrency exchange app. You’ll need to set up an account on the app of your choice and connect your bank account to cash out your funds.

Before we dive into how to sell Cardano, it’s essential to understand what Cardano is. What distinguishes Cardano from other cryptocurrencies is tough to summarize in a few sentences.

Cardano is a decentralized platform that allows users to create a wide range of applications that solve various problems. They’ve got covered, from building apps that boost smart contract deployment to streamlining transactions. Cardano’s proof-to-stake algorithm can handle it all. It is also capable of accomplishing this while consuming less energy.

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What’s more, it is the market’s first open-source and peer-reviewed cryptocurrency. Its primary goal is to give you innovative features based on rigorous scientific and research approaches.

It’s no surprise that it draws in so many people. Despite the unpredictability of Cardano, its rapid price surge has many people interested in selling it. But what if you are new to the market and have no idea how to sell Cardano?

In this guide, we’ll walk you through the ins and outs of how to sell Cardano, so you know what to do. We’ll also highlight the key pros and cons of selling Cardano.

Pros and Cons of Selling Cardano

Are you wondering if you should sell Cardano? Perhaps you are not sure if it is a good idea to sell it? Knowing the pros and cons of selling Cardano is vital to help you decide if Cardano will be profitable.

Here is a quick rundown of the pros and cons of selling Cardano:

Pros of Selling Cardano

Even if there are more pros than cons, you should not weigh them quantitatively. Some cons outweigh several pros.

That being said, here’s a look at the pros of selling Cardano:

1.   Scalable

Experts predict that Cardano will outperform Ethereum, a major competitor. Cardano is also more scalable because of its proof-of-stake algorithm, which creates more opportunities for growth and high profit.

2.   Reliable

Cardano is third generation Blockchain. Therefore, it is considered more reliable than most cryptocurrencies on the market. So there is less risk involved when selling Cardano.

3.   Liquidity 

Cardano has been named one of the significant cryptocurrencies with high liquidity and trading volume. Therefore you can expect to make more profit when you sell Cardano.

4.   Companies are ‘flocking’ to Cardano

Several companies are investing in Cardano. Therefore its price is predicted to skyrocket. This means in a few years, Cardano could be worth more.

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5.   Potential for More Profits

Cardano had a stellar year in 2021. By the end of 2021, it had a market valuation of $45 billion, with a 1 Cardano (ADA) being worth $0.46, according to CoinMarketCap. In September, it reached an all-time high of $3.03 and a market valuation of $97.52 billion. All of this has demonstrated the tremendous profit potential Cardano holds. 

6.   Fast Selling Process

Cardano is often easier and faster to sell because of its growing popularity. However, this varies depending on the app, available payment methods, and the trading volume.

Cons of Selling Cardano

Before proceeding with how to sell Cardano, you must first understand the potential risks involved. In section, we’ll highlight some of the cons of selling Cardano:

1.   Slow Adoption of Cardano

Even though it boasts many incredible features and has more technology evolved than other cryptocurrencies, it is still new to most people. It can be challenging to sell Cardano if people still get how it works.

2.   Stiff Competition

New cryptocurrencies are being introduced into the market. As a result, these cryptocurrencies may gain greater attention, affecting the value of Cardano. If you decide to sell Cardano, you may incur a loss because of the fierce competition.

3.   Volatile

The price of cryptocurrency is about as volatile as it gets. They can drop any seconds on nothing but user preference.

Cardano’s historical price analysis shows that it has fluctuated over several years, indicating that the price is volatile. That means that if the price falls, you may not make a profit by selling Cardano.

4.   Cardano is Highly Speculative and Risky

The lack of fundamental value, unlike stocks, makes Cardano highly risky. In addition, the price is driven by external factors alone, over which you have no control.

As such, it may carry significantly more risk than what buyers are willing to take. As a result, it may be hard to persuade buyers to take the risk.

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How Much Does It Cost to Sell Cardano

Cryptocurrency exchange costs can add up quickly. Sometimes, it may seem like you’re only paying a few dollars. But the next thing you know, you are paying hundreds of dollars that can eat into your profits.

The cost of selling Cardano varies according to the cryptocurrency exchange app or method you choose. Some apps charge a varying fee depending on how much Cardano you want to sell. Other apps charge trading fees and fees based on an asset’s volatility in the Canadian cryptocurrency market.

The following are the costs associated with selling Cardano:

Maker Fee

You need to pay a maker fee if a buyer doesn’t match your order in the order book, which brings liquidity to the platform. If you choose the post limit order option, they will not charge a maker fee.

A maker fee typically ranges from 0.16% to 0.20%. But some cryptocurrency apps or platforms do not charge maker fees.

Spread Fees

When you sell Cardano, the spread is the difference between the current market price of Cardano and the price you plan to sell it for. Most cryptocurrency exchange apps or platforms include a spread fee when you sell Cardano. This allows them to temporarily hold the price for a sell execution. At the same time, you review your transaction details before confirming your sell order. For example, if you were to sell Cardano (ADA) for $9.95 and the buyer price is $10. The spread is 5 cents. Therefore the spread fee, in this case, is 0.50%.

Deposit Fees

You will need to pay a deposit fee when transferring funds from your bank account to your cryptocurrency account. For example, if you use a credit or debit card to deposit funds into your account, you may be charged a fee of up to 5%.

Bank transfer deposits typically have the lowest fees than credit or debit cards. This is because cryptocurrency exchange platforms have to pay credit card companies or banks processing fees. The deposit fees also vary based on the size of the deposit.

Withdrawal Fees

Suppose you sold your Cardano assets on a cryptocurrency exchange app or platform, and you want to withdraw your profits. You have to pay a certain withdrawal fee to transfer your funds or assets to your bank account or wallet.

Withdrawal fees are ordinarily constant, regardless of the amount you wish to withdraw. So if you withdraw 1000 CAD, it’s the same fee for withdrawing 20,000 CAD into your account.

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How to Sell Cardano on an App

Now that you know the pros and cons and how it costs to sell Cardano, let’s look at how to sell Cardano on an app. Despite cryptocurrencies exchange apps having a few disadvantages, they are the easiest way to sell Cardano.

Cryptocurrency exchange apps serve as marketplaces for buying and selling cryptocurrencies like Cardano. They provide a variety of features such as up-to-date price charts, rigorous security, a user-friendly interface, and lower fees that make selling Cardano a breeze. The challenge is finding the best cryptocurrency exchange app for selling Cardano.

A few things to consider are the security features and withdrawal fees. Whichever app you opt for, here are the most common steps on how to sell Cardano on an app:

  1. Sign-up on the app
  2. Transfer your Cardano assets to your cryptocurrency exchange account
  3. Place a sell order for Cardano
  4. Cash out your funds or assets  
  5. Pay withdrawal fees

Read on for a detailed description of how to sell Cardano on an app. Keep in mind that the process differs based on whatever app you choose to sell. We’ve included the withdrawal fees for each app so that you can get a better sense of the costs involved.

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Bitbuy

Bitbuy allows you to sell Cardano instantly. This decentralized cryptocurrency exchange app is available for users from 100 countries and has relatively low fees.

The company has been around since 2016. It has garnered an outstanding reputation because of its top-tier features and easy-to-navigate platform. So you can quickly sell Cardano on the app without the complicated jargon. You can read our comprehensive Bitbuy review to get a closer look at its features.

Step by Step on How to Sell Cardano on Bitbuy

1.    Create a Bitbuy Account

If you are new to Bitbuy, you must first sign up before you can sell Cardano. Click the “Get started” button. This will redirect you to a page to create an account. Enter your information and link your bank account or wallet.

2.    Transfer your Cardano Assets to your Cryptocurrency Exchange Account

Once they verify your account, you will need to store some Cardano in it before you start selling. You can transfer your Cardano assets by simply entering the amount you wish to sell. Your assets should reflect in your account within a few minutes.

3.    Tap the “Express Trade” on your Account

In your account, click the “Express Trade “tab. After, click the “Sell” button.

4.    Place a Sell Order

Once you’ve zeroed in on the amount you want to sell, you need to place a sell order. Go to the “Pro Trade” menu and click “New Order” on the Pro Trade page. Select “Limit Order” or “Market Order.”

Enter the price for the Cardano you want to sell or choose one from the order book. Click the “Sell” button to complete the sell order. You can check your order summary in the “My Order” menu.

Bitbuy App Interface-Comparewise

Keep in mind that you will need to decide how long you want your sell order to be valid. Sell orders are generally valid for one trading day, which means they will remain available for 60-90 days or until filled.

5.    Cash Out your Funds

Once the order is filled and the transaction is complete, your funds will be available in your Bitbuy account. You can withdraw the funds from your Bitbuy account to your bank account.

Click the “Holdings” button in your account found at the top of the page. Select the cryptocurrency or fiat currency you want to withdraw and click the red “ Withdraw’’ button located across the currency you selected. Input the amount you want to withdraw and select your preferred destination.

6.    Pay the Withdrawing Fees

When you withdraw a currency, you will need to pay a withdrawal fee. Click “Calculate fees” to display the total withdrawal fees you need to pay.

For Bitbuy, the withdrawal fee is 1.50% if you are using Interac e-Transfer. The cost for a bank wire transfer is 0.50%. You can only make a withdrawal using Interact e-Transfer, ranging from $50,000 to $10,000.00 per 24 hours. Using a bank transfer, you can make withdrawals ranging from $10,000.00 to $500,000.00 within 24 Hrs.

Once you’ve paid the withdrawal fees, review your withdrawal. Go ahead and enter your two-authentication to complete the withdrawal process. Bitbuy withdrawal can take up to three days for security reasons.

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CoinSmart

CoinSmart is a specialized cryptocurrency exchange app with advanced trading features for experts, such as the SmartTrade tool. It has a solid customer service reputation with customer support available 24/7.

On top of that, it has instant verification, so you never have to wait a long time for your account to be approved. They also registered the company under the FINTRAC Money Service Business, which is well regulated.

Step by Step on How to Sell Cardano on CoinSmart

1.    Create a Coinsmart Account

While opening a CoinSmart account may seem complicated, it is easy. Click “Get Started” and enter your details. The instant verification ensures that your account will be approved within 24 hours.

2.    Transfer your Cardano Assets to your Cryptocurrency Exchange Account

The entire process is relatively straightforward. Enter the address where you will hold your Cardano.

3.    Place a Sell Order

Click the “Buy/Sell/Trade” menu in your account. Afterward, click the “Sell” button. Choose Cardano from the list of cryptocurrencies listed in your account.

Coinsmart-Dashboard-Comparewise

Input the amount of Cardano you want to sell. Before you confirm the sale, check the amount you entered and the exchange rate again. Click “Sell Now” to complete the sell order.

4.    Cash Out your Funds

Cashing out your funds is the final part of the process. Tap the “Wallet” icon in your account and select the currency you want to withdraw. It will redirect you to a balance page.

Click the “Transfer’’ button, and then click “Withdrawal.” Here you will be prompted to enter the destination you would like to transfer the fund to and the amount you want to withdraw.

5.    Pay the Withdrawing Fees

Once you’ve entered the required information, click “Continue”. A confirmation window will allow you to review your withdrawal details. It will display your withdrawal amount and the fee.

Generally, Coinsmart charges a 1% withdrawal fee using Electronic transfers and Bank wire transfers. You can withdraw funds from $50 to $15,000 using an Electronic Transfer and $10,000 to $5,000,000 using a bank wire transfer.

6.    Confirm the Withdrawal

After you’ve double-checked all the withdrawal details, press “Accept”. Coinsmart will send you a confirmation email with the link to continue your withdrawal process.

Once you click the link, it will redirect you to a new page where you will be required to enter your two-factor authentication code. You can use your Google Authenticator App.

Recheck your inbox for a final email to complete the withdrawal process. Click the link in the email, and it will redirect to another page that will have a pop window showing “Accepted”. This means you have successfully completed the withdrawal process.

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Coinberry

You may know Coinberry for its AutoPilot and Coinberry Pay features. But it’s also known for its wide selection of cryptocurrencies, including Cardano. Plus, it brings its no withdrawal fee policy to the cryptocurrency exchange app market.

Additionally, it has other cutting-edge features that are great for beginners and experts interested in selling Cardano. Not to mention, it is also registered under the FINTRAC Money Service Business with top-of-the-range safety procedures to protect your account.

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Step by Step on How to Sell Cardano on Coinsmart

1.    Create a Coinberry Account

Creating an account on Coinberry is a straightforward process. You’ll need to enter your information and link your bank account or wallet.

2.    Transfer your Cardano Assets to your Cryptocurrency Exchange Account

Once you’ve completed the account creation process, it’s time to transfer your Cardano assets to your Coinberry account. You’ll need to decide how much you want to sell beforehand.

3.    Place a Sell Order

It’s finally time to place your trade. Using the “Trading View” menu, select Cardano and enter the amount you want to sell. Click “‘Confirm” to execute the sell order.

4.    Cash Out your Funds

Cashing out your funds is a simple process that involves transferring your earnings to your bank account or wallet. Click the “Withdrawals” button in your account. Select either your wallet or withdrawal method. You can choose either EFT or Interac e-Transfer. Input the amount you want to withdraw. Make sure you select CAD as the currency.

Tap “Preview” to check the details of your withdrawal. If you are happy with the amount, click “Confirm .”A pop window will appear, displaying a confirmation of your withdrawal. They will process your withdrawal after 2 to 3 business days.

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Newton

Although Newton does not have a wide array of features, Newton is the perfect place for beginners who wish to sell Cardano. You can get instant verification and zero withdrawal fees. You can read our complete Newton review to learn more.

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Step by Step on How to Sell Cardano on Newton

1.    Create a Newton Account

You will need to sign up for Newton by clicking the “Get Started Now” button. Enter the information required, including your name and contact details. Newton offers a quick authentication process to set up your account within minutes.

2.    Transfer your Cardano Assets to your Cryptocurrency Exchange Account

Once they have verified your details and your account is up and running, you’ll need to transfer your Cardano assets to your Newton account.

3.    Place a Sell Order

Click the ‘’Trading View” in your account. Select Cardano from the list of cryptocurrencies. You will need to specify the amount of Cardano you would like to sell. After you’ve entered the amount, click “Sell Now .”After you sell your sell executed, all you will need to do is wait for it to be filled by a buyer.

4.    Cash Out your Funds

Cashing out your funds from Newton is a quick and easy process. Click the “Trading view” and enter your account login details. Tap the ”Crypto to wallet” tab.

Select the currency you want to withdraw and enter the amount. Choose the address or destination for your funds by typing it into the required field or copying and pasting.

Click ‘’Review Withdrawal”, followed by “Confirm’’ to complete the process. Newton typically processes withdrawals within 48 hours. However, this varies depending on the amount entered.

How to Sell Cardano with a Wallet

As the name suggests, selling with a wallet involves selling cryptocurrency from your wallet. Most wallets allow you to sell multiple cryptocurrencies, including Cardano.

So you want to learn how to sell Cardano with a wallet? Here is a five-step checklist to get started.

  1. Choose Cardano in your wallet.
  2. Tap the “Sell” button in your account.
  3. Decide how much you want to sell and enter the amount.
  4. Select a fiat currency or another cryptocurrency as a trading pair.
  5. Confirm the sell order.

If you’re looking for one-stop-shop wallets, the Ledger Nano S, Trezor Model T, and Coinbase wallet can get the job done. Other popular wallets include Binance (Trust Wallet), Zengo, and Keepkey. These wallets support over 1,000 cryptocurrencies, and they have several features that make selling Cardano a walk in the park.

How to Sell Cardano The Bottom Line

With a high trading volume and significant market share, Cardano is a very popular cryptocurrency. All of this, combined with its technical analysis, market trends, and expert opinion, indicate that Cardano will make you a reasonable profit.

Plus, the process of how to sell Cardano is simple. You’ll need to create an account on the cryptocurrency exchange app. The apps we’ve mentioned above include some of the best features for selling Cardano. We’ve also broken them down based on fees, so you get a sense of what you are signing up for. Whichever app you choose, pick one that best works for you. It’s vital to know the risks, including the potential loss of profit. Plus, given the unpredictability of Cardano, you should take a careful approach to selling Cardano.

You might also like…

  1. How to Sell Litecoin
  2. How to Sell Bitcoin
  3. How to Sell Solana

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FAQs about How to Sell Cardano

What is the Best Way to Sell Cardano?

The best option to sell Cardano is through a cryptocurrency exchange for convenience and affordability. However, it is a matter of personal preference. If you opt to sell through a cryptocurrency exchange app, make sure you do plenty of research on the fees involved.

What Can You Sell Cardano For?

Firstly, if you are unaware, Cardano is not a fiat currency. As a result, it is considered a commodity. You can sell it for a fiat currency, such as Canadian dollars. Alternatively, you can sell Cardano for another cryptocurrency.

When is the Best Time to Sell Cardano?

Because Cardano prices have been volatile, predicting the best timing to sell Cardano can be tricky. To make a profit, you should choose the best time through in-depth research on the current market trends. Our Cardano price prediction guide can also give you an idea of the best time to sell Cardano.

What Factors Should I Consider Before I Sell Cardano?

There are various factors to consider if you intend to sell Cardano. First and foremost, there is the cost. The most important aspect determining how much profit you may make from selling Cardano is cost. If you sell Cardano via an exchange platform, the costs will lower your earnings. Second, take security into account.

Understandably, we often downplay the importance of security when selling cryptocurrencies. However, before you begin selling Cardano, you should research the security aspects of a platform or app.

How Quickly Can you Sell Cardano?

Typically, it is determined by the type of sell order placed. If you use a market order, you would be able to sell your Cardano immediately at the best price possible. However, your sell order will only be filled after several days if you use a limit order.

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