5 Steps To Convert Aeon To USD

So you have been mining Aeon and you want to now turn that into profits? It will require a few steps but nothing that will take more than 1 hour of setup time. Once it is setup then it will take very few steps in the future to turn Aeon into USD while avoiding high fees.

Step 1: Create a Bittrex Account

I have been using Bittrex for quite awhile now and it works fairly well for your average trader, which is what I assume you will be if you are reading this article. Creating an account is straight forward. You may be asked to verify personal information in order to be able to withdrawal. You can read more about their verification process here: https://support.bittrex.com/hc/en-us/articles/215282838

Step 2: Transfer Your Aeon To Bittrex

Now that you have your new account created on Bittrex lets move your Aeon to your Bittrex wallet. When logged into Bittrex simply hit the Wallet tab in the top right of the navigation. Search for Aeon and then hit the + button next Aeon like in the example below:

Once you have your base address and your payment id, you will simply plug them in to your Aeon simplewallet using the following command:

transfer 1 <base address> <amount> <payment id>

Then simply hit enter. Bittrex currently requires 48 confirmations before moving from Pending.

Step 3: Trade AEON To BTC And Then LTC

Once your Aeon transfer has cleared you can now begin trading. Go to the following link: https://bittrex.com/Market/Index?MarketName=BTC-AEON and you will see a section to buy and sell Aeon. Since we are selling, under the Sell section do the following:

Hit Max, then hit the Price button and select Bid. This will autofill all the information that you need so the next step is to simply hit the big Sell Aeon button.

Your order should be submitted and because we are buying at the current bid price your order should automatically fill. Now you have made it to the point where you have converted your AEON into BTC but we are not done with Bittrex trading yet.

BTC has very high fees and currently right now Bittrex charges 0.00100000 BTC to withdrawl your coins to your wallet. As of writing this that is an 8 dollar transaction fee.

To get around this we are going to now use the BTC in our account to purchase LTC. LTC has a withdrawal fee of only 0.01000000 which as of this writing is only .70 cents. Big difference!

So now we are going to head to the following link: https://bittrex.com/Market/Index?MarketName=BTC-LTC and go to the Buy section.

To buy LTC with our BTC hit the Max button then hit the Price button and select Ask. Now we will hit the Buy Litecoin button and our order will be placed and filled at the asking price.

We have now gotten to where we need to be. We have LTC, which is low transaction fees. In total we have paid only .50% fees to Bittrex for two trades. Lets move our money out of Bittrex and into Coinbase now for the final stretch.

Step 4: Withdraw LTC to Coinbase Wallet

Go to your Wallet tab again and click the – button next to LTC. You will get a window like below:

Now open up your Coinbase account, click the Accounts navigation link and then go to LTC wallet and hit the Receive button. You will be given your Litecoin address which you will fill into the Bittrex withdrawal popup picture above.

Once you fill out the required information simply click with Withdrawal button and the process of withdrawing your funds will begin.

Step 5: Withdraw from Coinbase To Paypal or Bank Account

Once your Litecoin is in your Coinbase account you can simply hit the Buy/Sell navigation link then you will be given the choice to sell your Litecoin by either sending it to your Bank Account or using Paypal. Paypal will have higher fees but will be the fastest. The method you withdraw to is totally up to you at this point. Paypal is usually instant and Bank Account transfer can take a few business days.

 

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Topic tags:

• Aeon
• Bitcoin
• bittrex
• coinbase
• litecoin