The first method of cashing out Ethereum is through a fiat exchange. These exchanges allow you to buy/sell Ethereum for your native currency.
There are many reputable fiat exchanges currently in operation:
These are some examples of reputable cryptocurrency exchanges which allow you to cash out your Ethereum.
There is one caveat: while you can sell Ethereum for your native currency (i.e. USD) on these exchanges, not everybody can cash out to their bank account.
For example, we can look at one scenario with Coinbase: while Coinbase supports both buying and selling in the United States, they only support buying in Canada.
These restrictions are largely unique based on the exchange you use and the country you live in.
For the list of supported countries on Coinbase, take a look at the Coinbase Supported Countries page.
It’s important that you do research on each exchange to determine which exchange you can actually cash out with.
Since exchange restrictions can be extremely specific, we cannot give you distinct guidelines beyond this point. It is up to you to figure out which exchange supports cashing out in your region.
Once you have found an exchange which works for you and once you have registered on the exchange, you can simply transfer your Ethereum from your in-game Ethereum wallet to the exchange, sell the Ethereum, and then cash out.
Each exchange will have its own different methods of selling Ethereum as well as how to actually cash out to your bank account. So, once again - do your research!
Additionally, you should NEVER, under any circumstances send your PRPS or DUBI to one of these exchanges! This will result in you losing access to your PRPS or DUBI indefinitely.
Which fiat exchange is the best?
It’s hard to say exactly which exchange is the best, as they are all good for different reasons.
For example, while Coinbase has the simplest and quickest process, the fees are much higher (when buying with credit card) than on other exchanges like Gemini, Kraken, and Bitstamp. However, if you have the ability to use Coinbase Pro (supported in your region) and have bank transfer options available, the fees are quite low.
On the other hand, Gemini, Kraken and Bitstamp have a longer and more difficult verification process, and everything is not streamlined and made as simple as it is on Coinbase.
If a recommendation has to be made, it’s this: if Coinbase is an available option for you to cash out with, then you should definitely use it.
Coinbase is probably the simplest and most user-friendly exchange out there. It is designed to be simple and pain free for any new investors getting into the cryptocurrency space. If you happen to be new to this scene, this is a huge help in making your life way easier and less stressful.
If you do choose Coinbase and are a new register, you might want to use our referral code when signing up. If you ever buy or sell $100 worth of a cryptocurrency, you will get an extra $10 worth for free.
This is equal to about 3.6M Gems and 900 Crypton from the Gaming for Good shop (three small Gem packages). Using our referral code also helps us keep this website running, so we really appreciate it!
Of course, if you don’t need the process simplified for you or if you aren’t in a rush to cash out or buy any cryptocurrencies, take a look at the other exchange options as well because they are still excellent. A lot of this will be based on your own preferences and your own research, so don’t take our advice as any word of law!
Many people prefer to use other exchanges to save money on fees, as well as for better region support. The key take-away is that you should do your own research and determine what works the best in your case.
What happens if you can’t find a fiat exchange which supports your region?
In cases like these, we look towards LocalEthereum to cash out!