How to sell Mantra coin

To sell Mantra Coin, choose a reputable cryptocurrency exchange, deposit your tokens, place a sell order, confirm the transaction, and withdraw the proceeds, considering market liquidity, fees, tax implications, and security.

Nov 08, 2024 at 10:12 pm

How to Sell Mantra Coin: A Comprehensive Guide

Step 1: Choose a Reputable Cryptocurrency Exchange

• Research and compare different exchanges based on factors such as supported coins, trading volume, fees, security, and reputation.
• Consider exchanges that offer support for MATIC tokens.
• Some popular exchanges for selling Mantra coin include Binance, Coinbase, and KuCoin.

Step 2: Create an Account on the Chosen Exchange

• Visit the official website of the selected exchange and click on the "Sign Up" button.
• Provide personal information such as your name, email address, and phone number.
• Complete the Know-Your-Customer (KYC) process by verifying your identity with valid documents (e.g., passport, driver's license).

Step 3: Deposit Mantra Coins to Your Exchange Wallet

• Navigate to the "Deposits" section of your exchange account.
• Find the blockchain address for MATIC tokens.
• Transfer your Mantra coins from your personal wallet (e.g., Metamask) to this address.
• Wait for the deposit to be processed, which can take a few minutes or up to several hours.

Step 4: Place a Sell Order on the Exchange

• Go to the trading section of the exchange and select the MATIC/USDT or MATIC/BTC trading pair, depending on your preferred settlement currency.
• Choose the "Sell" option and enter the number of Mantra coins you wish to sell.
• Select the market order type for instant execution at the current market price. Alternatively, you can set a limit order to sell at a specific price.

Step 5: Confirm and Review the Transaction

• Carefully review the order details, including the amount of MATIC to be sold, the price, and the estimated settlement value.
• Click the "Sell now" or "Confirm sell order" button to finalize the transaction.
• Monitor the order book to track the execution of your order.

Step 6: Withdraw the Proceeds

• Once the order is executed, the proceeds from the sale will be credited to your exchange wallet.
• Navigate to the "Withdrawals" section of your account.
• Choose the preferred currency and withdrawal method (e.g., bank transfer, crypto withdrawal).
• Submit the withdrawal request and follow the platform's instructions.

Additional Considerations for Selling Mantra Coins

• Market Liquidity: Ensure that the chosen exchange has sufficient trading volume for MATIC tokens to avoid slippage or significant delays in order execution.
• Fees: Take into account the trading fees and withdrawal fees associated with the exchange. These fees can vary depending on the exchange and withdrawal method.
• Tax Implications: Selling Mantra coins may have tax implications, depending on your jurisdiction. Consider consulting with a tax professional for guidance.
• Security: Always prioritize security measures such as using strong passwords, enabling two-factor authentication, and storing funds in secure personal wallets.