How to sell Ronin coins

How to Sell Ronin Coins

Ronin Coin (RON) is the native cryptocurrency of the Ronin sidechain for the popular blockchain game Axie Infinity. It is an ERC-20 token built on the Ethereum blockchain and is used for various purposes within the Axie Infinity ecosystem, including purchasing Axies (the game's main characters), paying breeding fees, and buying items in the in-game marketplace.

Is it possible to sell Ronin coin?

Yes, it is indeed possible to sell your Ronin coins. As an ERC-20 token, RON can be sold and traded on various cryptocurrency exchanges and decentralized exchanges (DEXs). Some popular platforms that support RON trading include Binance, KuCoin, and Uniswap.

How to transfer Ronin coins to an exchange

There are two main options for transferring ronin coins to an exchange:

1. Use the Ronin Bridge

   The Ronin Bridge is the official tool by Sky Mavis, the Axie Infinity's developer, to move assets between the Ronin sidechain and the Ethereum mainnet. To use the bridge, you'll connect your Ronin wallet and select the amount of RON you want to transfer over.

2. Use MEXC Bridge

   Another platform that allows you to transfer from Ronin to Ethereum, MEXC Bridge supports both direct transfers of RON and other asset transfers between other networks (e.g. BSC, Polygon, and HECO). Simply connect both wallets, select that you want to transfer from Ronin to Ethereum and you're set to swap directly.

How to sell Ronin coins on an exchange

Once you have transferred your Ronin coins to an exchange, you can proceed with selling them:

1. Create an account on the exchange. If you don't have an account already, you'll need to sign up for one. The registration process typically involves providing your email address, creating a username and password, and completing KYC (Know Your Customer) procedures, which may include submitting a government-issued ID and proof of address.
2. Deposit your Ronin coins into your account. You will need to locate the 'Deposit' option on the exchange's platform and choose the coin that you want to deposit (in this case, RON). The exchange will provide you with a unique wallet address specific to RON. Send your RON tokens from your personal wallet (e.g. MetaMask) to the deposit address given by the exchange.
3. Place a sell order. Once your Ronin coins have been deposited into your exchange account, you can place a sell order. This involves specifying the amount of RON you want to sell and the price at which you want to sell it. The exchange will then attempt to match your order with a buy order from another user.
4. Complete the trade. Once your sell order has been matched with a buy order, the exchange will execute the trade. The Ronin coins will be transferred from your account to the buyer's account, and the proceeds from the sale will be credited to your account.
5. Withdraw your funds. Once the trade has been completed, you can withdraw the proceeds from the sale to your personal wallet. The withdrawal process may vary depending on the exchange you are using. Generally, you will need to provide the withdrawal address for your personal wallet and the amount you want to withdraw.

Conclusion

Selling Ronin coins is a straightforward process that involves transferring your coins to an exchange, placing a sell order, and completing the trade. With the right knowledge and proper steps, you can seamlessly convert your RON assets into other cryptocurrencies or cash.