How To Sell Decentraland - Comparewise

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How To Sell Decentraland

If you are reading this guide, then it’s likely that you want to learn how to sell Decentraland? If so, then you are in the right place. It may seem complicated at first, but with some guidance, you can start selling Decentraland in no time.

Our in-depth guide details everything you need to know on how to sell Decentraland via an app or wallet, including pros, cons, costs, & more.

The most common way to sell Decentraland is through a cryptocurrency exchange app. You’ll need to create an account on a cryptocurrency app after transferring your Decentraland from where you kept it to the app. When you’ve successfully done so, you can start selling your Decentraland by placing an order or filling one.

The Decentraland space has grown over the last couple of years. It has become increasingly complicated to sell your Decentraland, let alone know where to begin.

Most people who are new to the Decentraland or crypto market will need to start from square one. This entails finding where to sell Decentraland and then how to sell Decentraland. However, one significant advantage of selling Decentraland is various ways to do it.

In this guide, we will show you the ropes on how to sell Decentraland. We’ll cut through all the jargon and walk you step-by-step through how to sell your first bit of Decentraland. In addition, we’ll also break down the pros and cons of selling Decentraland. If Decentraland isn’t your thing, you can use these tips to sell other cryptocurrencies.

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Pros and Cons of Selling Decentraland

Decentraland has the potential to change the virtual estate world and disrupt the cryptocurrency market. But what are the pros and cons of selling Decentraland?

If you’re a bit confused, don’t worry. We’re going to break down the pros and cons of selling Decentraland, so you can decide whether to sell Decentraland or not.

Pros of Selling Decentraland

Knowing the pros of selling Decentraland can help you decide if it’s a good idea to sell it. Here are some pros of selling Decentraland:

1.   Potential for More Profits

It may surprise you, but Decentraland has a high trading price. According to Coindesk, in January 2021, the price for Decentraland was $0.08. By the end of the year, the price had skyrocketed by 4000%, reaching the highest at $5.90 in November 2021. You can also check out our Decentraland price prediction for a comprehensive overview of the future value of Decentraland.

If you want to sell Decentraland, the future growth potential presents an outstanding opportunity to make a profit from selling Decentraland even in a short time. Decentraland could become one of the most valuable cryptocurrencies you’ve ever traded by taking advantage of the unexpected price spikes.

2. Decentraland is Undervalued

When a cryptocurrency is undervalued, the trading value is estimated to be lower than the market value it possesses.

This is the primary benefit of selling Decentraland. You can profit from the gap between the estimated and market values. With Decentraland being undervalued, selling Decentraland short–term or long–term could see you make a profit of between 103.09% to 520.62%.

3.   Fast, Permanent Transactions

Decentraland transactions are generally processed faster than traditional transactions. Also, once you sell your Decentraland, the sale is final. That means you never have to worry about any charge-back fees by dishonest buyers.

Cons of Selling Decentraland

So that’s a lot of glitters, but is selling Decentraland such a great idea? Let’s take a look at some of the cons of selling Decentraland.

1.   The Concept of Decentraland is Still New

Despite the growing popularity of Decentraland, it comes as a surprise that millions of people still do not know about Decentraland. It might be challenging to convince people to buy Decentraland.

2.   More Competition

Even though it is one of the leading cryptocurrencies in the virtual estate world, Decentraland is not alone. Litecoin and Dogecoin have recently competed in the same market.

As a result, these cryptocurrencies may attract more users, which may be detrimental to Decentraland in the big scheme of things. If you wanted to sell Decentraland, you could make a loss because the competition is booming.

3.   Volatility

Decentraland, like other cryptocurrencies, is unpredictable. The prices can change frequently and sometimes by wide margins. If the market crashes, you can make a great deal of money from selling Decentraland.

As Decentraland grows in popularity and more people use it, the volatility will likely remain stable.

4.   Understanding Decentraland Takes Time and Effort

Decentraland can be challenging to grasp. If you are particularly not tech-savvy, the concept of Decentraland can feel confusing. And attempting to sell something you don’t understand is risky in and of itself. The less you know about Decentraland, the more likely you will lose money.

However, you can check out their website to learn the basics about Decentraland. But you will still need to devote some time to understand how it works.

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How Much Does It Cost to Sell Decentraland

Each transaction involves some costs when you sell Decentraland on a cryptocurrency exchange platform. The costs can change quickly, or over a long period, so you must stay updated with all the costs.

Knowing what to expect in terms of costs before you sell Decentraland will give you a better chance of generating a profit. Here is a quick look at the costs involved to Decentraland:

Maker Fee

Most cryptocurrency exchanges run on a maker-taker fee basis. A maker fee is a standard cryptocurrency exchange fee levied on makers who trade on the platform.

The maker fee differs from one cryptocurrency platform to another, and it may vary depending on your trading size.

Spread Fees

Sometimes if a cryptocurrency exchange platform does not charge a maker-taker fee structure, it will have spread fees. A spread fee is a difference between the price of Decentraland and the amount a user has paid to purchase it.

Spread fees differ depending on the cryptocurrency exchange platform, but it typically starts from 0.5%. Bear in mind that some cryptocurrency exchange platforms have both maker, taker, and spread fees. But it is uncommon, so you might find yourself not having to pay both fees.

Deposit Fees

You must pay a deposit fee when transferring funds from your bank account to your cryptocurrency account. Some cryptocurrency exchange platforms provide a variety of methods for depositing funds into your trading account. For example, you can use a credit or debit card, PayPal, and even bank transfers.

But keep in mind that it is often free to deposit funds into your account using a bank transfer. However, you can incur a fee ranging from 2% to 5%, depending on the platform, with a credit or debit card. They can also charge a 2.5% or higher fee if you use PayPal.

Withdrawal Fees

You will need to pay the withdrawal fee to transfer funds from your cryptocurrency account to your bank account. You will need to pay a fee when you withdraw fiat currency from your bank account. Some platforms also charge a fee when you move your Decentraland assets to another platform, your wallet, or someone else wallet.

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How to Sell Decentraland on an App

You don’t have to be an expert to sell Decentraland, but knowing how to Decentraland with an app can help. In this section, we’ll walk you through the entire process of how to sell Decentraland.

But before we jump in, we need to state the obvious. This is not a guide on the best time to sell your Decentraland. Instead, it is a how-to sell Decentraland that outlines where to begin, including the where to sell Decentraland. That’s why it’s so important to analyze the market before selling any Decentraland.

When choosing the best app to sell Decentraland, you should look for one with good features, more users, and low fees. Also, look into what security measures they have to protect your funds.

Whichever app you choose, here are the most common steps on how to sell Decentraland on an app:

  1. Create an account on the app
  2. Transfer your Decentraland assets to your account
  3. Sell your Decentraland against your preferred fiat currency or cryptocurrency
  4. Withdraw your earnings to your bank account
  5. Pay withdrawal fees

Continue reading to learn more about each of these steps. Remember, the process will differ depending on what app you use.

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Bitbuy

Bitbuy is a decentralized cryptocurrency exchange app and one of the largest in Canada. It is one of the best cryptocurrencies for beginners for various reasons. The app offers access to many cryptocurrencies, which is beneficial if you want to sell Decentraland.

The company also has top-notch security features, so you sell Decentraland safely on the app. A big plus is that it is easy to use and has low fees depending on the transaction. You can check out our in-depth Bitbuy review to learn more about fees and excellent features.

Step by Step Instructions:

1.    Create a Bitbuy Account

To be able to sell Decentraland, you will need to ensure that you first create an account on Bitbuy. You will need to your bank account. Plus, you need to provide information such as contact details when you sign up.

2.    Transfer your Decentraland to your Bitbuy Account

This is only necessary if you used a separate source to get or store your Decentraland, such as a crypto wallet. Simply send the amount you want to sell into your Bitbuy account. They will complete your transfer instantaneously.

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3.    Click “Express Trade” on your Account

In your account, click “Express Trade” found at the top of the page. After, click the red “Sell” button.

4.    Sell your Decentraland Against your Preferred Currency

Enter how much Decentraland you want to sell and the CAD value. Click “Sell” to complete the transaction when you’re happy with the amount. The “Transaction summary” page will provide the details of your transaction.

5.    Withdraw your Earnings to your Bank Account

Once the sale is complete, the funds will be in your cryptocurrency account. You can then choose to withdraw the funds from your Bitbuy account into your bank account. It can take a few days to complete the process, depending on the type of bank.

6.    Pay the Withdrawing Fees

When you are withdrawing a fiat currency, you will need to pay a withdrawal fee. For Bitbuy, the withdrawal fee is 1.50% if you are using Interac e-Transfer and for bank wire is 0.50%. Keep in mind that 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.

CoinSmart

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CoinSmart

CoinSmart is also a decentralized cryptocurrency exchange app that runs on a Blockchain. This Canadian app hosts trading for more than 100 cryptocurrencies.

However, it’s best suited for professional and more experienced users than beginners who want to sell Decentraland. The company is registered under the FINTRAC Money Service Business, which means it follows Canadian regulations.

Step by Step Instructions:

1.    Create a Coinsmart Account

To be able to sell Decentraland, you will need to sign up for Coinsmart. If you already have a Coinsmart account, you can skip this step.

2.    Transfer your Decentraland to your Coinsmart Account

This is only necessary if you used a separate source to get Decentraland or store your Decentraland, for example, a wallet. Send the amount you want to sell into your cryptocurrency account. The transfer will be complete instantaneously.

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3.    Click “Buy/Sell/Trade in your Account

Click the “Buy/Sell/Trade” menu in your account. Afterward, click the “Sell” button. Select Decentraland from the list of cryptocurrencies on the page

4.    Sell your Decentraland Against your Preferred Currency

Enter the quantity of Decentraland you want to sell. Before confirming, always double-check the amount you’re entering and the current exchange rate. After double-checking that everything is in order, click the “Sell Now” button.

5.    Withdraw your money to your Bank Account

Once you’ve sold your Decentraland, you can withdraw your Canadian Dollars from your account. You can use Electronic Funds Transfer or Bank wire.

Keep in mind that you’ll need to pay withdrawal fees when withdrawing your funds from your account. For example, using Electronic Funds Transfer, you will be charged a 1% or $15 for withdrawals between $50 to $15,000.

Using Bank wire, they will charge you a 1% or $15 for withdrawals from $10,000 to $5,000,000. It usually takes them 1 to 5 days to process your request.

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Coinberry

Coinberry is a popular Canadian cryptocurrency exchange app, though it’s not the best. One of its top-selling points is its dollar-cost averaging feature.

It is also great for people new to trading cryptocurrency by offering beginner-friendly features. However, Coinberry has steep fees and missing features that professional traders appreciate.

Step by Step Instructions:

1.    Create a Coinberry Account

To be able to sell Decentraland, you will first need to sign up on the Coinberry website or the app. After your complete the sign-up process, Coinberry will verify your account. You will have to answer some verification questions for them to approve your account.

2.    Transfer your Decentraland to your Coinberry Account

This is only necessary if you used a separate source to get Decentraland or store your Decentraland. If you haven’t, you can move on to step 3.

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3.    Click Trading View

Select Decentraland from the list of cryptocurrencies. The trading view will show you the order book and price chart of Decentraland, then click the “Sell” box.

4.    Sell your Decentraland Against your Preferred Currency

Enter the amount of Decentraland you want to sell and click the “Sell Now” button.

5.    Withdraw your money to your Bank Account

Once you’ve sold your Decentraland, you can withdraw your Canadian Dollars from your account. You can use Interac e-Transfer or Wire Transfer. Coinberry has zero withdrawal fees, so you don’t have to worry about paying fees.

If you select Interac e-Transfer, the order processing time is instant, but it can take 15 minutes. However, if you use a Wire Transfer, it can take 2-3 Business days.

Newton

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Newton

Compared to Bitbuy, Coinberry, and Coinsmart, Newton is a centralized cryptocurrency exchange platform founded in 2019.

It has garnered an excellent reputation because of its outstanding features, including high liquidity and instant verification. You can check out our Newton review for a full breakdown of the features.

Step by Step Instructions:

1.    Create a Newton Account

To be able to sell Decentraland on Newton, you will first create an account. Creating an account on Newton typically only involves a few steps.

2.    Transfer your Decentraland to your Newton Account

As we mentioned earlier, this is only necessary if you used a separate source to get Decentraland or store your Decentraland, for example, a crypto wallet. Deposit your Decentraland onto Newton. The transfer should reflect immediately.

Newton-Crypto-Review-Features-Comparewise

3.    Select Decentraland as Cryptocurrency

Select Decentraland from the list of cryptocurrencies assets and click the “Sell” button. Make sure the currency you selected is Decentraland.

Enter how much Decentraland you want to sell. Before you confirm, make sure you’ve entered the correct amount. After checking again to ensure everything is right, click the “Sell Now” button.

4.    Withdraw your money to your Bank Account

Once you’ve completed your transaction, you can withdraw your funds from your account. You can use Electronic Funds Transfer or Bank wire. Similar to Coinberry, Newton also has no withdrawal fees.

How to Sell Decentraland with a Wallet

Selling Decentraland via an app is the most common way. But you can also sell Decentraland with a wallet. Both options provide pros and cons.

Look into the best wallet for yourself. Several options include Binance Trust wallet, Trezor, Ledger Nano S, etc. These wallets typically have various features that make selling Decentraland easier. Here are the main steps involved in how to sell Decentraland with a wallet:

  1. Select Decentraland in your wallet.
  2. Click the “Sell” button on the page.
  3. Enter the Decentraland amount you would like to sell.
  4. Select the trading pair. For example, you can sell Decentraland for fiat currency or most other cryptocurrencies.
  5. Double-check the conversion rates before you confirm the transaction.
  6. Confirm the transaction.

Keep in mind that each wallet has its own set of selling regulations. Selling Decentraland with a wallet is a convenient choice if you’re in a pinch and need to sell Decentraland immediately.

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How to Sell Decentraland Key Takeaways

As we mentioned earlier, this is not a when to sell your Decentraland assets, but a simple guide on how to sell Decentraland in various ways.

The selling process can seem complicated because there are several factors to consider. You can sell your Decentraland through an app or with a wallet. Regulations and fees on some apps can reduce the profits you can make. This is why it’s essential to choose the best apps to sell Decentraland.

The cryptocurrency market is unpredictable, and you should do your homework before you start selling. Now that you know how to sell Decentraland, it’s up to you which option to use. Will you use an app or cryptocurrency exchange platform? Will you sell Decentraland with a wallet? Of course, the choice is yours.

If you are hoping to start selling on an app, check out the options we listed above of some of the best apps currently on the market. You can sell your Decentraland in minutes by following a few simple steps. Thanks for checking out how to sell Decentraland.

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 Decentraland

What is the Best Way to Sell Decentraland?

There is no single best way to sell Decentraland. It all depends on individual preferences. Using a cryptocurrency exchange platform or app is best if you are starting. You’ll have to pay some nominal transaction fees, but it will be well worth it.

Is It Easy to Sell Decentraland?

Yes, you can sell Decentraland in a few simple steps. If you are selling using a cryptocurrency app, you just need to create an account, get verified, and you can start selling. There are always people to purchase Decentraland, so you never have to worry about finding customers.

How Can I Lower the Cost of Selling Decentraland?

You can sell Decentraland on a cryptocurrency exchange platform with lower or no trading fees. For example, it offers zero trading fees when selling or buying Decentraland. Additionally, you might also look into transaction rates and be mindful of the types of transactions you do. For example, if you wish to convert cryptocurrencies to fiat currency, you might have to pay a fee.

What Factors Should I Consider Before I Start Selling Decentraland?

There are several factors you must consider before you start selling Decentraland. First, you’ll need to decide whether you want to sell it for another cryptocurrency or the Canadian Dollar. How to consider how quickly you would like to sell your Decentraland. Take the market rate and whether you are willing to accept a price below the market value.

When Should I Sell Decentraland?

Determining exactly when to sell Decentraland is complicated. However, you should decide if you want short-term earnings or long-term wealth security. You can also check out our Decentraland price prediction to see when and if you should sell Decentraland.

How Quickly Can you Sell Decentraland?

The time it takes to sell Decentraland depends on whether the Decentraland is on the app where you intend to sell it. If it is, you can sell Decentraland within a matter of seconds. Otherwise, you would need to send it somewhere to sell it, which may take up to 10 minutes.

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