hey guys crypto dad here and today I'm
gonna show you how to sell your ripple
so let's get going
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okay so I've done several videos that
explain how to purchase cryptocurrency
and then move it into your own wallet
and I've had some of my viewers ask me
how do I sell this cryptocurrency how do
I move it back so I can cash out so I'm
gonna do a video on that today and we're
gonna use ripple as our cryptocurrency
of the day so let me get started here so
the main thing we need to remember about
moving cryptocurrency around is that we
just need to focus on the address the
address is just like your home address
or your business address it's a number
that represents a location okay
my address is with numbers but
cryptocurrency addresses are much longer
and their combinations of numbers and
letters so basically we just need to
find the right address so what I'm gonna
do is I'm gonna sell ripple out of my
ledger nano wallet and I'm gonna move it
over onto bit tricks and the reason I'm
using bit recs is because it supports
ripple now there are other there are
some other cryptocurrency exchanges that
support ripple but in this case I'm
going to use bit tricks I'm comfortable
with bit tricks now I'm not gonna sell
the cryptocurrency on bit tricks I'm
gonna transfer it out I'm gonna transfer
it out 2g Dax because that's a the
easiest way for me to cash out I have my
bank account already linked and it's
gonna be pretty simple
the reason I'm not transferring the
ripple into G Dax is because G Dax does
not support ripple at this moment so
let's let me walk you through the
process the first thing I'm going to do
is I'm going to take my ledger nano s
and I'm gonna connect it now the first
thing the ledger nano s once is me to
enter the pin code which I will do okay
and when I enter the pin code of course
then
it connects to the computer and then I
need to launch my ripple wallet which is
a Windows app I've done videos on how
you get set up for ripple but I'm
assuming if you want to sell your ripple
that you already have this all set up so
we'll just go from here oh I do need to
enter in the I need to enter into the
ripple app pardon me so we just need to
move over here to ripple and hit both
buttons and there we go so now the
wallet comes up and shows our balance
and all is well and good all right so I
want to move this over to bit tricks so
I'm gonna launch my Chrome browser I'm
gonna go to bit tricks enter my password
and it wants my Google Authenticator
code if you don't have Google
Authenticator 2-step verification
enabled on your crypto currency exchange
accounts you need to I'll say that's
about as simple as I can put it I've got
some great videos on enabling 2-step
authentication it needs to be done to
protect your accounts alright so we're
gonna go over here to wallets and mine I
was the last time I was on here I had it
open but generally you're gonna end up
at this page here and then when you go
to the search bar and type in a
particular cryptocurrency that wallet
will show up here and it's empty at this
point so don't worry about this balance
that's in the account I'm just worried
today about our ripple so what we want
to do is make a deposit into this
account so we're gonna hit the plus sign
all right and then it generates this
address for us here ok so we get an
address and a tag and both of these we
need to use both of them
so we go over here to the ledger wallet
ripple and we're gonna click send and
you'll notice here that there is a spot
for the address but nothing for the tag
so we need to go to advanced mode and
that opens up the tag field so now we're
just gonna copy this guy here and we're
gonna copy this guy and put him down
here the tag field alright and the
amount of ripple I'm gonna send today is
200 ok now I'm gonna click send and as
soon as I click send it's going to want
me to confirm on the the nano itself
it's gonna ask me to click a confirm
button so keep that in mind when you do
your transaction it's when it asks for
confirmation it wants you to push the
button on the ledger nano s so we click
send and we're gonna get a confirm I'm
gonna click the little button there and
let's see what happens
okay okay so we had a few hiccups here
and there but it got it got in there
okay so what happened was I tried it the
first time I tried it I wasn't using the
Advanced Mode for my send okay and I
wasn't using the let's let's pull this
guy back up again as you'll notice here
they they have an address and a tag and
so the first couple of times I tried I
was only using the address and then I
finally realized that I need to be in
advanced mode so that I can include the
tag and I had still had a few problems
rebooted you know did all this stuff and
then tried again and then after I
confirmed the transaction and it said it
was broadcasting it did a bunch of stuff
and then I got some red thing that said
there was an error okay and I was trying
to figure out a different way to do it
and then all of a sudden I noticed in
the wallet that the 200 had gone out
okay and I went over here and I checked
the tricks and the amount is available
now this is very interesting compared to
Bitcoin because if you've had any
experience with Bitcoin over the last
month you'll know that transaction times
are just going through the roof
transaction fees are going higher and
transaction times are taking longer but
this ripple transaction was happened
within a couple of minutes okay so here
we go now we've got the ripple in our
bit tracks account but I'm not gonna use
bit tracks to cash out
okay I'm gonna use G Dax to cash out so
what I need to do is convert this into
Bitcoin right so we just hit X RP
and we go over here to sell Ripple okay
so I'm gonna sell the max amount of
ripple that I have I've got 200
available and you'll notice I can only
sell it for Bitcoin all right I'm gonna
click last here and it's gonna give me
that's the price and the Bitcoin and I'm
going to end up with a total of point
zero one six five Bitcoin which is I
don't know
close to 200 so we're gonna click sell
ripple and we're gonna confirm okay the
order was placed and filled very quickly
okay so let's go back over here to our
wallets and okay so now we have Bitcoin
and it's available okay so it was a
really quick transaction okay now we
want to transfer this Bitcoin into my GD
X account so that I can cash out I don't
have any bank account connected to bid
treks I try to keep things simple I have
my bank account is connected to my coin
base account I set up a G tax account
and they're the same company and they're
connected together in many ways you can
go on GDX and access your coinbase
account and G Dax has less fees so we're
gonna try that out today we're gonna see
just how much of my total I'm gonna get
alright so I'm gonna go over here and
open up my G Dax account and I do have
two-step enabled on my coinbase account
so it sort of carries over into my G Dex
know it lets me log in without entering
that 2-step authentication but it will
not let me sell or withdraw or do
anything you know major so that's the
protection that's built in so what I
want to do is I want to deposit I'm in
btc-e USD I want to make a deposit
I want to deposit Bitcoin
all right so that's the address that
it's giving me and it's warning me not
to send Bitcoin cash to this address
because this is a Bitcoin address here
so I'm just gonna copy that guy I'm
gonna go over here to bit treks I'm
gonna go to my Bitcoin wallet and I'm
going to go withdrawal
okay I'm withdrawing from this wallet
all right I paste in the address of my
GDX I hit this up arrow to send out all
the Bitcoin that I've got and we're
gonna click withdraw and then it wants
me to confirm and enter my 2-step
authentication code
I just charging me hmm fairly
substantial fee point zero zero one
Bitcoin I'm gonna go ahead and accept it
I'm not gonna cry about it not gonna cry
I tell you I'm not okay six digit
authentication for bid trucks confirm
ma'am
there we go so the withdrawal was
submitted and let's see what's refresh
here I do have a pending withdrawal okay
so I just got an email from coinbase
telling me that I just received some
Bitcoin so my coinbase just alerted me
that I just received some Bitcoin okay
guys so I stepped away from the computer
for a little bit and came back and I got
a alert from coinbase telling me that I
had successfully sent the Bitcoin from
my coin base to my GDX
so the mystery is solved I mean I I sent
the Bitcoin from my Rex account
into my G Dax account but I guess under
the surface it had to go through
coinbase
so here is the withdrawal the last
withdrawal from my Rex account
which was point zero one five five one
and let's look and see how much I got in
my G Dax point zero one five five one
eight six nine so it looks like I got
the the bulk of the Bitcoin and that's
all well and good
so my transfer didn't really cost me
anything so let's go back over here to G
decks and we can see that the Bitcoin
came in here today and between sending
it from bit racks and and actually
getting it on G Dax is about an hour and
a half okay not horrible but you know
that's what it was K so it looks like I
need to sell the Bitcoin yeah I wish
okay there I prefilled okay so there we
go
so I took my Bitcoin and I just clicked
here to pre-fill all of it and in my
amount and it's going to give me two
hundred and twenty two dollars in cash
so I'm gonna hit my place sell and
success okay look the the amount of is
in my US dollar account right now
there's my two hundred and eighty five
two hundred and twenty two dollars and
85 cents now I'm gonna do withdrawal to
my bank account and gonna max okay so
there's the max in US dollars and I just
need to enter my code already and then
hit withdrawal
boom Shakalaka boom Shakalaka there
that's it I withdrew the funds and the
money is now in my bank account I just
got an alert telling me yeah I just got
alert that told me that what straw has
been started on December 28th in the
morning I initiated the withdrawal and
it will arrive in my bank account by
December 31st ok which their estimate
their estimate is what about 3 days at
the very most now I've done one before
from coinbase and actually this turns
out it is coinbase the last time I did a
coin base withdrawal I had the money the
next day in the bank you know ready you
know you know ready to spend so that's
basically the long and short of it I'm
not gonna wait until the money actually
shows up but those that's the process ok
I'll go through it one more time I had
some ripple in my wallet on my ledger
nano s I transferred it into bit recs
which is an online exchange because they
support Ripple
I could have shortened this whole
process by transferring the repple
directly in G Dax but G Dax does not
support rebels so I had to take that
intermediary step of moving it into my
Rex account from bit treks I did
once it was in the ripple I had to sell
the ripple for Bitcoin which I did and
the fee was minimal on that on that that
currency exchange transaction then I
took my Bitcoin reward from that ripple
transaction and transferred it to G Dax
and I did that with little cost to
myself it was it was very negligible
let's say so the Bitcoin went from bit
treks into my G Dax account and then
from there all I had to do was sell it
for cash and withdraw and there you go
it took a little bit of profit not a lot
of profit
but I just wanted to give you the
mechanics of how it all works you might
want to do more and if you do more you
might run into some of their limits that
that are in place I did a fairly small
amount so I didn't have to contend with
any of that sort of thing if you have a
lot of ripple and you want to sell it
all you might have to do it in pieces
over a series of days who knows unless
you make other arrangements so anyway I
hope you enjoyed this video I hope you
got something out of it if you like my
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that's it for today Krypto Dada out