Kraken

How to Sell GNO (Gnosis)

No longer actively using the Gnosis prediction market platform? If so, you may want to consider selling GNO for cash or another cryptocurrency.


The cryptocurrency that powers Gnosis, GNO is necessary for paying fees to create prediction markets and for placing wagers on the platform. But if you’ve already settled your market, winning any cryptocurrency you wagered, it may be a good idea to sell any unused GNO. 

Selling GNO can help you increase your total gains, or in the event of a loss, help you recoup funds invested in your wager on the Gnosis prediction market

Note, if you’ve been staking GNO to earn cryptocurrency on the platform, you may not be able to sell GNO on a global exchange like Kraken right away. (Based on the wallet and contract you’re using, you may need to wait hours or days to unlock and sell your GNO). 

Additionally, if you’ve been storing your GNO in a wallet you control, you may also need to buy ether. As GNO runs on Ethereum, sending GNO to an exchange requires costs be paid to its network. (For more on how this works, visit or ‘What is Ethereum?’ guide). 

Still not sure about selling GNO? You can learn about more ways to use your GNO in our ‘What is Gnosis?’ guide. If you’re sure you want to sell GNO, follow the steps outlined below. 

how to sell GNO (Gnosis)


Ready to start?

If you’re more advanced and looking to get right in and start trading, go ahead and sell some GNO!

Sell GNO


New to crypto?

For more details on how GNO derives its value, read our official “What is Gnosis?” guide.

Learn More

 

Why sell GNO?

There may be reasons you want to sell GNO for cash or other cryptocurrencies, even if you’re an avid user of Gnosis prediction markets.

For example, you may want to sell GNO if you’re seeking to:

  • Adjust your long-term crypto portfolio strategy
  • Avoid losses in times of sudden price movements
  • Capture gains from past GNO purchases 
  • Exchange GNO for another cryptocurrency or fiat currency

How much GNO can I sell?


Don’t have much GNO to sell? That’s OK. Kraken offers minimum order sizes that make it attractive for trades of any size to sell GNO.

Like most cryptocurrencies, GNO is divisible, this means you can easily sell fractions of 1 GNO on Kraken’s exchange. (In fact, our minimum sell order is just 0.02 GNO).

Larger sell orders, of course, are also possible, too. It wouldn’t be out of the ordinary for larger traders to sell 5,000 GNO or more on Kraken. 

How to sell GNO on Kraken


If you’re ready to sell GNO, follow these simple steps below:

  1. Sign up for a Kraken account.
    You just need to create an email address, username and a strong password.

  2. Verify your Kraken account.
    Provide your name, birth date, country of residence and phone number.

  3. Send GNO to Your Kraken Address
    If you want to sell GNO for another cryptocurrency (like BTC or DASH), first you’ll need a deposit address in your Kraken account. Depositing GNO on Kraken is as easy as transferring it to any cryptocurrency address.

    If instead you want to sell GNO 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.

  4. Sell GNO
    Once your account has received your GNO, you can begin selling GNO and other cryptocurrencies on Kraken. (Note: Because Gnosis runs on Ethereum, it may take some time for funds to be sent on its blockchain. This process is due to the decentralized nature of Ethereum and is outside of Kraken’s control.)

    Simply open the New Order page, fill out the order form and click SELL GNO. Next, check our charts to time the market for the best possible trading times.

Start selling GNO


Still having trouble selling GNO? You can always let our support specialists assist you.

If you run into any trouble selling GNO, let us know. Our support staff is online 24/7 ready to help. You can reach us on LiveChat or by email anytime.

 

how to sell GNO on Kraken