How to sell crypto via MetaMask: A beginner’s guide to cashing out
MetaMask users can accumulate various cryptocurrencies through work, mining, yield farming, or airdrops. To convert these tokens into cash, users must ensure the tokens are sellable, as many airdropped tokens lack market liquidity. Tokens may require manual addition to MetaMask using their contract addresses. Selling often involves swapping tokens for more liquid options like ETH or stablecoins, especially if they are on different blockchains. Selling methods include centralized exchanges like Coinbase, which require KYC verification, and peer-to-peer platforms that may have minimal KYC. Cryptocurrency ATMs provide another cash-out option but can incur high fees. Tax implications arise from selling crypto, treated as property sales in many jurisdictions, necessitating careful record-keeping for capital gains reporting. Crypto regulations vary by country, and users should remain informed about their local laws.
