eth tokens

[fulhamfan66]

Hi

I have received quite a few erc20 tokens into my eth wallet from airdrops. I know it's probably easy, but can you good people explain to me how I use the tokens please. For example can I just exchange them directly into eth in my erc20 wallet or do I have to send them somewhere first?
Thank you in advance.

[clonely]

If your Ethereum wallet is not connected to a stock exchange, ie over the MEW or MetaMask, you can not trade directly from here. First of all, you need to know where the token you want to trade is listed. If no specific stock market is listed, you can look at Ethereum token markets such as Etherdelta or IDEX. Usually the tokens from the airdrops do not make much money in the first stage. It is necessary to send the buyer you want to trade either to the stock market it trades with or to one of these markets. If the money you receive in this transfer is more than the value of token, there is no need to send it in vain.

[Svafnir74]

Hi

I have received quite a few erc20 tokens into my eth wallet from airdrops. I know it's probably easy, but can you good people explain to me how I use the tokens please. For example can I just exchange them directly into eth in my erc20 wallet or do I have to send them somewhere first?
Thank you in advance.

You need to send tokens from the wallet to the exchange. On the stock exchange you can sell them and buy other coins. Carefully choose the exchange. You need the exchange on which the token is traded.

[BlockEye]

If your Ethereum wallet is not connected to a stock exchange, ie over the MEW or MetaMask, you can not trade directly from here. First of all, you need to know where the token you want to trade is listed. If no specific stock market is listed, you can look at Ethereum token markets such as Etherdelta or IDEX. Usually the tokens from the airdrops do not make much money in the first stage. It is necessary to send the buyer you want to trade either to the stock market it trades with or to one of these markets. If the money you receive in this transfer is more than the value of token, there is no need to send it in vain.

This is the most accurate way to exchange your token into ETH. Decentralized Exchange is the most common home of the Airdrops token and most of the ERC20 tokens are listed there since it was decentralized, unlike centralized exchange that cost a lot of money for a listing fee. The best way to check balance is view ETH address in etherscan.io first so that you will have any idea on what tokens you have on your wallet before you go to IDEX since DEX is very slow to load balance and if you are impatient like me. You will never view your balance except if you know that there is a balance there.

[Moiyah]

If your Ethereum wallet is not connected to a stock exchange, ie over the MEW or MetaMask, you can not trade directly from here. First of all, you need to know where the token you want to trade is listed. If no specific stock market is listed, you can look at Ethereum token markets such as Etherdelta or IDEX. Usually the tokens from the airdrops do not make much money in the first stage. It is necessary to send the buyer you want to trade either to the stock market it trades with or to one of these markets. If the money you receive in this transfer is more than the value of token, there is no need to send it in vain.

In addition with that,
- after downloading some exchange like binance or bittrex (search for the erc20 tokens if it is listed on an exchange, if not follow what clonely's advice)
-it it is listed in any exchange, you have to send some eth for MyEtherWallet for you to be able to pay the gas/miners fee
-go to exchange (like binance search for erc token you have and copy address )
-go to MEW, click send eth&other tokens. Input to: (copied address from binance)
-input the amount
-generate transaction
-send transaction then wait for tx status
-after transaction status was confirmed, check your exchange (binance), check your funds if your token was already sent to your exchange.
-start trading by simple sell your tokens and buy another coins.

Hope it somehow helps you.

Goodluck!

[Crypto26]

you need to transfer/deposit the tokens to specified exchanger, also make sure that you have enough eth balance before sending it or else it won,t transfer. Then, from the exchange you can do the trading buy and sell.

[fulhamfan66]

Wow thank you so much guys. I did not expect such responses. From anyone's past experience, is it better to hold for a while then?

[Vivif]

It seems that here you are a newbie, try to find the information on google, if there is less understood, you can ask here.

[kateycoin]

Hi

I have received quite a few erc20 tokens into my eth wallet from airdrops. I know it's probably easy, but can you good people explain to me how I use the tokens please. For example can I just exchange them directly into eth in my erc20 wallet or do I have to send them somewhere first?
Thank you in advance.

You need to know where that erc20 token to be list before you convert it to Eth because some airdrop are shitcoin and don't have value you need to exchange it to exchanges so you can convert it ethereum.

[lizardbtc]

In addition with that,
- after downloading some exchange like binance or bittrex (search for the erc20 tokens if it is listed on an exchange, if not follow what clonely's advice)
-it it is listed in any exchange, you have to send some eth for MyEtherWallet for you to be able to pay the gas/miners fee
-go to exchange (like binance search for erc token you have and copy address )
-go to MEW, click send eth&other tokens. Input to: (copied address from binance)
-input the amount
-generate transaction
-send transaction then wait for tx status
-after transaction status was confirmed, check your exchange (binance), check your funds if your token was already sent to your exchange.
-start trading by simple sell your tokens and buy another coins.

Hope it somehow helps you.

Goodluck!

Taking into consideration that he/she got the tokens via airdrops, I can only assume that these airdrops are not some old ones which means that there is low chance of tokens being listed on big centralized exchanges such as binance and others. I'd still go for etherdelta or IDEX as they are decentralized and honestly they might seem scary at first only until you do few trades. It is not something ultra-hard to trade there.


OP:  Of course for sending your tokens you will need to have a bit of ETH to pay the fee for transfer. If you also happen to have tokens that kyber network support you could use it to trade directly inside the MEW wallet it's pretty easy to do so.

[fulhamfan66]

Thank you everybody. I semi understand what's needed. I will give it a try. I have to admit that I thought it would be easier to do, but no doubt it will be easy eventually.

[MISS_nSTASSY]

Hi

I have received quite a few erc20 tokens into my eth wallet from airdrops. I know it's probably easy, but can you good people explain to me how I use the tokens please. For example can I just exchange them directly into eth in my erc20 wallet or do I have to send them somewhere first?
Thank you in advance.

First of all you should understand what you want to do with your free tokens. If you decided to hold - there is no need to do something else just forget about them for couple of years
If you want to sell them - you need to send them to exchanges. But for making transactions you need to have some ethereum on your wallet(because you need to pay fees).
So first send eth to your wallet, then you can send your tokens to your exchange wallet to sell.