Hello, everyone! In this post you will find out how to exchange 1UP tokens.
I have to say that it might seem difficult at first, but once you have done it a few times it becomes pretty straight forward.
So, just be careful with this when you are doing it for the first time, because you can easily click on the wrong button and do something that you don’t want to do.
How to exchange 1UP?
Let’s say you have earned some tokens on Uptrennd, and you want to exchange them for another crypto or for cash…
The first thing you should do is to withdraw your tokens to a wallet that you have full control of.
If you don’t know how to do that, see this post before anything else:
Once your tokens are in your wallet, you have to send them to an exchange.
Currently, 1UP is traded on three exchanges:
- p2pb2b – https://p2pb2b.io/
- IDEX– https://idex.market/eth/idex
- Altilly – https://www.altilly.com/?a=fe98a (referral link)
I’m using Altilly, so I’ll work with it as an example for this post.
Also, I recommend using the web version, on PC, and not the mobile app, except in some extreme cases, when you don’t have any other options. This is for security reasons.
The first step is to create an account
- Always use valid email address, because you will regularly need it
- Always set up a strong password, full of symbols, numbers, and different letters
- Always set up two factor authentication, because that immensely increases your security
- Never use the exchange to store your tokens, only trade them there
Once you have an account, go to Balances.
You will see all the cryptocurrencies that the exchange supports, so you have to search for 1UP.
Then click on the blue button and select Deposit.
On the next step you will see the deposit address and a QR code.
Send the tokens by copy–pasting the address, or by scanning the code.
You can see how to do it in the link from above, for depositing on Uptrennd, because the process is basically the same.
Next, you go to the Markets menu
Now you have to look for the token you want to exchange, in our case it's 1UP.
You will see a few different options for exchanging.
ETH, BTC, or XQR (Don’t ask, I don’t have any idea what QXR is).
Click on whichever pair you want to, and you are now in the exchange.
We will go through the basics only, because otherwise it could get overwhelming.
With time and experience, you will learn every aspect of exchanges.
So, on the left side, you will see all of the orders.
These are all the people that are selling or buying 1UP.
Red color is for sell orders, green color is for buy orders.
The lowest selling price will be the one that gets executed first.
And the highest buying price will be the one that gets executed first.
Above the graph you can see a few statistics from the last 24 hours.
Under the graph is where the actual trading happens.
There are a few things to do here… The first one is to figure out the prices.
In case you want to know the value of BTC or ETH in a given currency, here is a great converter from CoinMarketCap: https://coinmarketcap.com/converter/
All you have to do is to take the price from the left panels, enter it in the converter, and choose the preferred currency.
Now, if you want to sell immediately, you have to toggle the little blue button, and you will see that it goes to Market, and that your options below have changed.
Just enter the amount you want to sell, and hit sell, that’s it.
Remember that this is the most expensive way to sell your tokens, and the exchange will simply calculate an average price from all the buy orders, in order to sell you the tokens. Their fee in that case is the highest possible.
A better option to sell is to choose Limit.
It’s done from the very same button, you just have to make sure it’s set correctly.
You will now be able to not only set the desired amount, but you can determine the price as well.
In our example, the lowest selling price is 0.0000178 ETH per 1 1UP.
So, if you want, you can type a lower price than that one, and if your offer is the lowest one, your tokens will be sold first.
However, you might want to get a bit more for your 1UP, so you can type that you want to receive 0.0000200 ETH per 1UP.
In that case, you will have to wait until somebody buys your offer, and it might take a few days, but you will get more value for your tokens.
This is the cheapest way to sell, in terms of fees, and most people prefer using it than the market sell option.
From there, you can send your ETH or BTC to a platform that allows you to sell them for cash, or to another exchange that might have listed other cryptocurrencies that you want.
Here is a post that might help you with that process: https://www.uptrennd.com/post-detail/how-to-exchange-your-crypto-for-cash-in-a-few-easy-steps~MjQ1OTM0
Yes, it’s a bit much for a first timer to do it, but I guarantee you that you will get used to it pretty quickly.
The most important thing is to always look for information, and to learn how to do things, before you take any action.
After all, we have the internet, and it only takes a bit of effort to learn everything you need.
And, yeah, nobody else will do it for you.
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