How to trade NEAR coins to others? Graphic tutorial on selling NEAR coins

By setting up a NEAR wallet, purchasing coins, and connecting with a counterparty, you can easily trade NEAR coins and finalize transactions within minutes.

Oct 20, 2024 at 02:12 am

How to Trade NEAR Coins to Others: A Step-by-Step Guide

Step 1: Create a NEAR Wallet

• Download and install a NEAR wallet, such as the NEAR Wallet or XDEFI Wallet.
• Create a new account and secure your wallet with a strong password.

Step 2: Fund Your Wallet with NEAR Coins

• Purchase NEAR coins on a cryptocurrency exchange (e.g., Binance, Coinbase).
• Withdraw your coins to your NEAR wallet address.

Step 3: Find a Counterparty

• Identify the person or entity you want to trade with.
• Exchange contact information to facilitate the transaction.

Step 4: Set Up a Trade

• Discuss the terms of the trade, including the exchange rate and the amount of NEAR coins involved.
• Agree on a method of payment (e.g., fiat currency, another cryptocurrency).

Step 5: Initiate the Transfer

• Access your NEAR wallet and navigate to the send page.
• Specify the NEAR wallet address of the recipient.
• Enter the amount of NEAR coins you want to transfer.

Step 6: Review and Confirm

• Double-check the recipient's address and the transfer amount.
• Pay any applicable transaction fees (e.g., gas fees).
• Click "Confirm" to initiate the transfer.

Step 7: Wait for Confirmation

• The NEAR blockchain will process your transaction and confirm it within a few minutes.

Step 8: Finalize the Trade

• Once the transaction is complete, notify the other party.
• Exchange the agreed-upon payment method (e.g., fiat currency, another cryptocurrency).

Additional Tips:

• Use a reputable NEAR wallet that has strong security features.
• Verify the recipient's wallet address before initiating the transfer.
• Keep a record of all transactions for accounting purposes.
• Consider using a third-party escrow service for added security in large or complex trades.