how to sell shiba inu coin on wazirx

To sell Shiba Inu (SHIB) coin on WazirX, create an account, deposit SHIB coins, place a sale order selecting the preferred order type, track the order's progress, and withdraw the INR proceeds to your bank account.

Oct 19, 2024 at 05:18 am

How to Sell Shiba Inu (SHIB) Coin on WazirX

Step 1: Create an Account on WazirX

• Go to the WazirX website or app.
• Click on "Sign Up" and follow the instructions to create an account.
• Verify your email address and phone number.

Step 2: Deposit Shiba Inu (SHIB) Coins

• Click on "Deposits" from the menu bar.
• Select "INR" from the "Currency" drop-down list.
• Click on "Shiba Inu (SHIB)" and copy the deposit address.
• Transfer your SHIB coins from your external wallet to the WazirX deposit address.

Step 3: Place a Sale Order

• Click on "Exchange" from the menu bar.
• Select "SHIB/INR" from the "Market" drop-down list.
• Enter the amount of SHIB you want to sell in the "Sell SHIB" field.

• Choose the order type:

  • Limit Order: Set a specific price at which you want to sell your SHIB coins.
  • Market Order: Sell your SHIB coins at the current market price.
• Click on "Sell SHIB."

Step 4: Track Your Order

• Your sale order will be placed in the order book.
• Click on "Open Orders" from the menu bar to track the status of your order.
• Once the order is filled, the SHIB coins will be sold, and the INR proceeds will be credited to your WazirX wallet.

Step 5: Withdraw the INR Proceeds

• Click on "Withdrawals" from the menu bar.
• Select "INR" from the "Currency" drop-down list.
• Enter the amount of INR you want to withdraw and the bank account details where you want to receive the funds.
• Click on "Withdraw."

Additional Notes:

• Ensure you have sufficient SHIB coins in your WazirX wallet before placing a sale order.
• Set a competitive price if you are using a limit order to increase the likelihood of your order being filled.
• Monitor the market closely before selling to optimize your profit.
• The withdrawal process may take up to 24 hours.