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I am just a newbie when it comes to joining ICO campaigns and we all know that we earn tokens by joining such. I have read a few discussions about converting tokens to ethereum and a lot says that we need to exchange it but before that, ethereum balance is required.

My question is what are good sites that will provide me smooth exchanging? How much eth balance is required? How long will it take to convert my tokens to eth? And if you are kind enough, I appreciate detailed steps on how to convert tokens to eth. Thank you!

Not all exchanges are using tokens it's up to you to follow the development of the ICO and to see where it is listed (which exchange to use to trade it). You can use coinmarketcap to save some time but again it's up to you to follow the project that you are taking interest in, and not just grab the free money.

There isn't much minimum to trade but of course, don't waste your time if it worth $0.000001. Regarding how long will it take to convert tokens to ETH it depends on the demand and the volume traded in the exchange.
There is no need for a detailed step by step. Just send your tokens to the exchange then trade it to BTC, ETH or whatever and that's it.

Sending ethereum will require you to have the balance equivalent to 21000 gas and if measured in eth, it should be exactly 0.001 eth in your account to initiate a transaction.
The gas in ethereum network works as network fee just like we pay in bitcoin. Gas is the infernal currency of ethereum network and is converted internally to eth.
You should maintain atleast 0.001 eth in your account for single transaction. More balance woulf be needed to process more transactions.

The developer actually gave us a link. The token is in etherdelta. The token is still quite new and is still infamous. I got the token from an airdrop and I am currently joining an different ICO campaign. I asked this to know what to do with the tokens I am about to earn at the end of the ICO. Still learning things about trading and exchanging. If the token is still low in demand, does that mean it will take long before i can convert it?

What exactly should I do with my tokens? Should I sell it? I am so sorry for asking such a noob question. I'm just new to this kind of thing and is still learning. Thanks for answering!

Most airdrop tokens usually gets dumped once it is listed on exchange and not just airdrop tokens but most of them. If it is a project you believe in, you can hold. Pretty much, you can just convert to ETH quickly when the value is still high and buy some back when it has been fully dumped enough to hold for long and also make some profit at the same time (that is if you believe in the project's success in the long run).

Since you said, the token was listed on etherdelta, I will advise you go through this thread and quickly read through all you need to know about Etherdelta. https://bitcointalk.org/index.php?topic=2018051.0 There are some tutorials listed there which can get you going pretty fast. You should also note that it is a decentralized exchange and you will need to make use of your private key in logging in, so I will always be very careful I am entering directly on EtherDelta and not a phishing website cloned as EtherDelta.

Mostly ICO project  used Hitsbtc exchanger to convert token to ethereum or mostly if we joined of some airdrop we must used etherdelta to convert our tokens to coins,this two platforms sites mostly used the bitcoiner in our country in terms of trading and mining operation.

Its better off to look for lower tier exchanges like Etherdelta, Mercatox, Cryptopia etc. when it comes to exchanging ERC-20 or any other Ethereum based tokens. These exchanges usually have low fees and a pretty decent trade volume on each token so trading for profit would be feasible. Keep in mind not to get swayed away by pump and dump coins which would be the worst case scenario as a beginner heading out to the trading world.

Come to think off that most bounty campaigns now are using or making erc20 based tokens which means it would commonly go to those exchangers who do have the most erc20 tokens been trade off or the common place on where it do being listed easily which is on Etherdelta and regarding on the ETH balance you would really need that come to think off that every transaction do really need a gas to push such transfer.

The best selection to what you looking for is EtherDelta. All you need to have is some ETH on your Ethereum address with tokens, possibly 0.05-0.1 to cover GAS fees. Next is to create address on Etherdelta. Unlike other centralized exchanges, ED gives you private key of your created address which means it's 100% safe. You need to send tokens from MEW address to ED address, that's it. Now you can easily sell token on ED for Ethereum and withdraw ETH back to anywhere you like.

Interesting piece, Ive Been Waiting  to See Where This heads to

before you convert token to eth first you need to know which exchanger the token you are holding is listed. many ico token are first listed on exchange platform like etherdelta. if you are to use etherdelta then you need to import you MEW into etherdelta you are require to have at least 0.002eth on your wallet. this will be use to pay for gas price when making transaction on etherdelta. ones you import your wallet you can select your token from the token menu then enter amount of token you want to deposit on etherdelta. then click on any sell order, proceed by inputing the amount of token you want to sell and click ok

If you want to search a best exchanger to convert your tokens we suggest you use etherdelta because most of the token at first came in to etherdelta platform so must check out with etherdelta or you can you coinexchenger it is one of the best one to convert eth.

ether delta is decentralized I think, it is convenient also, with very small fees

The fact is that at OVIR Delta recently there are some problems and certain regions on this exchanger access is closed. Basically, the ether of Delta is good in that almost all the markers of coins on the etherium platform are present on it. I think that the price category is comparable with other outstanding trade exchanges.

etherdelta is the best exchange in where you can exchange some of those tokens, but keep in mind that it is going to be a little bit difficult because most of those exchanges are not accepting tokens from bounties, ico's, and all of that garbage.
So be careful, it might be difficult to find one of those exchanges that were accepting all of those crap coins.
I remember those days in where Novaexchange was accepting all those coins, what a wonderful time, it was incredible because all those tokens could be dropped in there just in a few minutes.

Your first question have now being answered so hopefully understand. Moving forward....


It's all depend on you. Sometimes there are tokens that are piece of shit but some can give you a decent profit especially it was hyped.

When it will be hyped? That's the thing you need to watch out as no one knows. Now to minimize those difficulties at least, try to spend time checking updates at their ANN thread where you got your tokens or try to watch their price movement directly in the exchange. In most of the cases, their hype only happened for few times and after that some tokens became dead.

I think sending ethereum will require you to send some gas. If you want sine smooth exchanging hitbtc is the beat for me. Those questions that you have all of them has fees.

Its not depends on the exchange you use. But a demand of its tokens that could make it be able to be converted in any altcoin you want, so please becareful while choosing the tokens you want to invest.

I agree mostly with Etherdelta, because etherdelat  its a decentralized exchange that paired only to ethereum and no other else like bitcoin and some others. Though it is very technical and expensive too, since every transaction pass thought  the ethchain, and you need gas, but its the most fastest way to convert your token to ETH.

What do you mean by ethereum balance?
I only trading my tokens in ED because most of finished ICO is first list at ED but the interface of it is very slow. If you want to dump your earned tokens after ICO finished it requires less amount so you can place an order in ED. Converting it depends in the volume of buy and sell if the tokens has huge buyers and sellers like in bitcoin it can be easily done in seconds.

Wow! Thanks for all the replies. I am enlightened now. I have checked etherdelta and saw that the tokens I have earned from the airdrop is still low in price. The dev that launched that airdrop is planning to start an ICO so maybe I'll just wait til it starts. That might increase their token's demand.

Sir patrickj, they say I need gas before making transactions in etherdelta. Why? Is it possible to make transactions without ethereum balance?

Nowadays Etherum exchange is reasonable because bitcoin is severely congested. I have tried bitcoin trading and are delayed for 2 days yet have not traded yet. You may consider trading with ETH much faster. .

You don’t really need much of the balance to convert your tokens and stuff like that. Even on my ether wallet 0.001 Ethereum is sufficient for each transaction which is I guess 0.30 cents with the current rate and could be lower than that if you put up more gas limits. Please confirm the gas limits of each tokens given in the description report of each token or even on the website of each token you can seek for the gas limit. Sometimes you need less than 0,001 Ethereum for converting huge amounts of tokens. So try to get exact estimates depending upon these calculations. And yeah as I was speaking MyEtherWallet is the best wallet for your use.

you need to have an etherium balance which acts like a gas or transaction fees in the case of bitcoin in order for your transactions to be processed. yet i wont recomend you to use etherdelta because it is buggy and super slow and sometimes it eats your gas unexpectedly if you dont know what your doing. therefore i suggest wait for some time for the  tokens/coins to be listed on some better exchanges like hitbtc.

Once the token is listed, the first thing you need to do is to use coinmarketcap to find out the exchanges the token has been listed and then send them there. There is nothing like best exchanger so far in the token market, you just have to find the best option available to do your trade on.

Usually, most of them normally make use of EtherDelta, but I will advise you to find out how it works first so that you can know all you need to do before trying to do anything.

I think the best exchange to convert token or altcoin to ethereum is a ethetdelta, is very simple and easy to use, but you can also use Bitrex or HitBtc and this is the best exchange.

I would go for Etherdelta since most erc20 tokens do go or being listed directly on there after launch which I do really observe that the first exchange for it to be listed is ED for sure and theres no doubt on that but the thing here is that if you are a newbie you would really have a confusing experience on the exchange for the first time that's why its really advisable for you to read up instructions because you would possible mess up your coins.

You just need a little amount of ethereum, as for the new coin and it seems etherdelta is very good choice, but remember that was decentralized exchange site and it is differen with bittrex or another centralized site.
The buy and order was random. If you are dumping your coin and that takes some seconds.

Most frequently used exchange usually after the campaign was Hitbtc and Etherdelta, and sometimes Livecoin, coinexchange, then of course it is commonly used wallet also was MEw or know as myetherwallet which is needed 21000 gas gwei for us to do some transactions in terms of transferring the coins going to exchange platform.

etherdelta, bitrex and polenix to exchange the tokens you have with the token supported wallet means you can easily with those sites.
Still if you check the coin in coinmarketcap you will be able to find the site which is available to trade it out.
Don't worry about the gas price buddy still myether consumes very few amount cost in bitcoins.

Well given you're talking about ICOs then not all will be listed on any one exchange, all can be unofficially listed on decentralised exchanges such as etherdelta but you may find that you're often selling at a very low price if you sell here. Generally you will just need a little eth, 0.001 or something to cover the gas to send your coins to the exchange of your choice

If what you want is to get out of the tokens quickly, a good site would be etherdelta, but if you accumulate a time you could wait for them to be listed in a good exchange and so you would see a little gain if it increases its value

To do anything on the Ethereum platform, you need to pay for gas so it's a must that you have at least balance on your MEW because your gas (fees) will came from here. In Etherdelta Dex, you don't need to fund your ETH wallet there and just stay your ETH balance right directly at your MEW unless you will buy a tokens there. On the other hand, tokens must be deposit at Etherdelta (needs gas) so that you can able to sold them.

https://ethgasstation.info/

I usually use Etherdelta exchange. I think it is really good. Have you ever used it yet? If not, Let try.

EtherDelta actually sounds interesting, it being decentralized and giving you the private keys to your own address and all...

If i understood correctly though, their "exchange engine" is actually their smart contract? So each time you submit a trade you would have to pay gas for processing the transaction (the same goes for cancelling and replacing any orders)?



 

I have read that etherdelta require your private key. Surely this is not your Mew private key?

etherdelta is costly but it is my goto for exchanging of tokens for ether. you can visit https://bharatafinance.com/how-to-use-etherdelta-to-buy-any-erc-coins/ for help

Huuhm… I’m also a novice in that… though it’s not really matter of being novice or knowing how to convert tokens to ETH, the thing there is whether there are such exchangers accepting tokens for ETH. I don’t even think there are such, cause I never heard of them, the only thing I know is that you can convert your bitcoin to an altcoins and also do the same to altcoins, converting them to bitcoin.