how to sell shiba inu coin from coinbase wallet

How to Sell Shiba Inu Coin from Coinbase Wallet

Shiba Inu (SHIB) is a popular cryptocurrency that has gained significant traction in recent years. If you're holding SHIB in your Coinbase Wallet, you may be wondering how to sell it and convert it into cash or other cryptocurrencies. This comprehensive guide will provide you with step-by-step instructions on how to sell SHIB from your Coinbase Wallet.

Step 1: Open the Coinbase App

Begin by opening the Coinbase app on your mobile device or accessing the Coinbase website on your computer. Ensure that you're signed in to your account.

Step 2: Navigate to the Wallet Tab

Once you're logged in, navigate to the "Wallet" tab located at the bottom of the screen on the mobile app or on the left-hand side of the screen on the website.

Step 3: Select Shiba Inu

From the list of cryptocurrencies in your wallet, locate Shiba Inu (SHIB). Tap or click on the SHIB asset to view the details.

Step 4: Tap the "Sell" Button

In the SHIB asset page, you will see a button labeled "Sell". Tap or click on this button to initiate the selling process.

Step 5: Choose the Amount

Enter the amount of SHIB you want to sell or select a percentage of your total SHIB balance. You can also choose to sell all of your SHIB at once by tapping or clicking on the "Max" button.

Step 6: Choose the Destination

Next, select the destination for the proceeds of your sale. You can choose to send the funds to your Coinbase USD Wallet, your Coinbase EUR Wallet, or to an external cryptocurrency wallet.

Step 7: Review and Confirm

Before completing the transaction, carefully review the details, including the amount, destination, and any fees associated with the sale. Once you're satisfied with the information, tap or click on the "Sell SHIB" button to confirm the transaction.

Step 8: Wait for Confirmation

After confirming the sale, you will need to wait for the transaction to be processed and confirmed on the blockchain network. The time this takes can vary depending on network conditions.

Step 9: Track Your Sale

Once the transaction is complete, you can track the status of your sale in the "History" section of your Coinbase account.

Additional Considerations:

• Fees: Coinbase charges a fee for selling cryptocurrency. The fee will vary depending on the amount you're selling and the payment method used.
• Market Price Fluctuations: The price of SHIB can fluctuate rapidly, so it's important to monitor the market and sell at a time when the price is favorable.
• Taxes: Cryptocurrency transactions may be subject to capital gains taxes, depending on your jurisdiction.