How to Sell Monero (XMR)
No longer seeking added privacy in your online transactions? Looking to free up funds to make a big bet on a competing cryptocurrency?
Either way, it sounds like you may be looking to sell XMR. First things first, depending on when you made your first purchase, you may be selling XMR at a profit (or loss). So, make sure you take steps to understand the impact it could have on your finances before continuing.
Like any cryptocurrency, XMR trades on an open market. This means that depending on when you decide to sell XMR, buyers may offer different prices. That’s because XMR’s value rises and falls against other crypto assets (like BTC and TRX) as well as more traditional currencies.
An exchange with a robust global market (like Kraken) will provide you with a real-time order book offering updates on what buyers and sellers believe is the right price to buy XMR.
If you’re sure you want to sell XMR now follow the easy steps outlined below.
Ready to start?
If you’re more advanced and looking to get right in and start trading, go ahead and sell some monero!
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Why Sell XMR?
Just because you started buying XMR, doesn’t mean you need to hold it forever. Depending on other available market opportunities (or your changing financial needs), you may need to update your portfolio allocations every so often.
For example, you may want to sell XMR if you’re seeking to:
- Trade XMR for another cryptocurrency or fiat currency
- Avoid losses in times of sudden price movements
- Lock in gains from past XMR purchases
- Make changes or adjustments to your cryptocurrency portfolio
How to sell XMR on Kraken
Follow these simple steps below to place your trade.
Sign up for a Kraken account
You just need an email address, username and a strong password.
Verify your Kraken account
All you need is your name, birth date, country of residence and phone number.
Send XMR to Your Kraken Address
If you want to sell XMR for another crypto asset, you’ll first need a deposit address for your Kraken account. Depositing XMR on Kraken is as easy as transferring it to any cryptocurrency address. (Note: We use Monero’s subaddress format, which has fast become favored for its privacy advantages.)
If instead you want to sell XMR for a fiat currency (like USD or EUR), you’ll need to send us additional identification and proof-of-residence documents. Learn more about our different verification levels here.
Once we’ve confirmed that your account has received funding, you can begin selling XMR and other cryptocurrencies on Kraken.
Having trouble selling XMR? Our experts are our standby.
You can reach us on LiveChat or by email anytime you need assistance. We’re serious!
If you’re having second thoughts, there’s still time to buy XMR on Kraken using our handy ‘How to Buy Monero’ guide. Otherwise, click the button below to begin.