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Cashing Out Guide - Sell Your DUBI for Money

Updated December 15, 2019

Introduction

If you have played your cards right, you will now have some DUBI on your hands which you would like to turn into some dollar bills.

How would you do so?

DUBI is a cryptocurrency, and if you would like to cash out, you need to have a good overview of the whole process in order to finally cash out your earnings.

Selling DUBI

The first step to cashing out would be to sell your DUBI for ETH (Ether).

You can sell your DUBI in one of two ways:

  1. You can sell your DUBI in-game using the exchange within the Blockchain building
  2. You can sell your DUBI outside of the game using the decentralized exchange DubiEx

Although selling DUBI in-game using the exchange in Blockchain building will usually be the best option, both ways of selling DUBI will be discussed.

In the next couple of sections we will go over both methods of selling your DUBI.

Selling DUBI In-Game

For most people, selling DUBI within the Blockchain building is the best option.

This is true for two main reasons:

  1. Selling DUBI in-game is a much simpler process.
  2. You can get more ETH in exchange for your DUBI, which means you will make more money.

This is because the DUBI price in the Blockchain building will always be significantly higher than on DubiEx.

All trades within the Blockchain building work off of a queue system. The oldest DUBI sell offers in the Blockchain will be fulfilled before the latest.

For example, if you are the very first person to list your DUBI for sale, the next time somebody else tries to buy DUBI, they will be buying from you.

The whole process and reasoning behind this is a bit complicated and simply beyond the scope of this guide.

All you need to understand is that you can place a DUBI sell order in the Blockchain building, and you will eventually receive ETH when the order is fulfilled.

Once you place a DUBI sell order, you should be patient and wait for the order to be fulfilled by somebody else.

After you have received ETH, you need to exchange it for your native currency. Scroll below to find steps on how that’s done.

Selling DUBI on DubiEx

It’s important that we start off this section with a small preface:

This is not the best way to sell your DUBI. You will earn less Ethereum by selling your DUBI on DubiEx than you might by selling it in-game. Therefore, you should only sell your DUBI on DubiEx if you cannot find anybody who is willing to buy your DUBI in-game.

With that out of the way, you can find the decentralized exchange DubiEx by searching for dubiex.com on your browser

It’s important to note that you will need one of the following browsers:

  • Google Chrome
  • Mozilla Firefox
  • Brave
  • Opera

This is because you need to first install the Metamask extension on your browser to use the exchange (download Metamask HERE).

Once you have Metamask installed, you simply want to input the same 12-word passphrase you used in the Blockchain building.

Now that you have your wallet setup, you can easily sell your DUBI for ETH on DubiEx. To sell your DUBI on DubiEx, you can head to dubiex.com/DUBI/ETH.

From here on out, you can simply follow the steps given at the bottom of the screen.

When you go to unlock a wallet, you’ll see several options:

The Trezor and Ledger options are for more advanced users who have hardware wallets. If you happen to be one of those people, you can use your hardware wallet instead of Metamask if you wish.

After unlocking a wallet, you can proceed by clicking the SELL button. At this point you can enter the amount of DUBI you wish to sell, and you will see on the right the total amount of ETH you will receive in exchange for the DUBI.

Additionally, you need to also ensure you have enough Ethereum in your wallet to actually complete the transaction!

In most cases you will have enough Ethereum to pay the transaction fee since you are given a small amount of Ethereum after exporting your first pet/hero to the Blockchain.

However, in case you don’t have enough Ethereum, you can find info on how to purchase Ethereum inside of the Buying PRPS & DUBI Guide.

After you have sent the transaction, wait a few minutes and you will receive the Ethereum into your Metamask/Ledger/Trezor wallet.

From here, you can proceed to the next step: selling your Ethereum.

Selling Ethereum

The second step into cashing out is actually selling your ETH (Ether) for your native currency.

You can do this in two ways:

  1. Sell your Ethereum on a mainstream centralized exchange.
  2. Sell your Ethereum on LocalEthereum.

These are two drastically different methods of selling your Ethereum. Both of them have their own advantages, as well as disadvantages.

In the next couple of sections, we will go over both methods of selling Ethereum and discuss what is the best in your scenario.

Selling Ethereum on an Exchange

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!

Selling Ethereum on LocalEthereum

LocalEthereum is a website which allows you to cash out Ethereum without having an account setup with a centralized exchange.

It works like this:

  1. You find a buyer who has an Ethereum buy offer which you like.
  2. You open a trade with that buyer.
  3. You transfer your Ethereum into an escrow account which holds the Ethereum to verify that you have the Ethereum to sell.
  4. The original buyer will pay you based on what was initially offered (bank transfer, PayPal, etc).
  5. After the seller confirms the payment, the Ethereum is released from the escrow account to the buyer, completing the trade.

For more in-depth info, you can read the full explanation on the website.

So, since everything seems good and simple so far, you might wonder... why would people use fiat exchanges instead of selling Ethereum on LocalEthereum every time?

There are several reasons for this:

  • You are required to trust the buyer/seller
  • The prices for buying/selling Ethereum are worse than on fiat exchanges

Due to the fact that there is a degree of trust involved in the process, you will likely see worse prices than what you would find on fiat exchanges.

However, the good news is that selling Ethereum on LocalEthereum is an option everybody in the world can use!

You are not restricted from buying/selling based on your location since every trade is made directly between two different people.

You can search for Ethereum buy offers in your native currency, select the best offer based on the price and the reputation of the buyer, and then make the trade. It’s quite simple!

The steps needed to make a trade on LocalEthereum boils down to the following:

1. Click "Log In" and choose your wallet type to start your registration.

This will bring you to a screen where you need to select either MetaMask or Ledger as your wallet. If you are coming from an in-game setting, you want to use MetaMask.

After you have MetaMask setup, LocalEthereum will direct you to several MetaMask pop ups which you need to confirm to allow the website to interact with MetaMask. You can then continue with the account creation process normally.

2. After creating your account, browse for offers on the localethereum.com/offers page.

You can then filter for buy offers, your desired payment method, as well as the location. When choosing a buyer, it’s important to browse their profile to see how many trades have been completed as well as whether they have received overall good feedback.

You should avoid anybody with low volume trades as well as poor feedback!

3. Select the buyer, begin the trade, deposit the Ethereum into the escrow account, and communicate with the buyer to receive your money!

Once you have gone through all of these steps, you should have received some money in your native currency in exchange for your Ethereum.

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