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I recently bought a Ledger Nano S wallet and moved my ETH from Coinbase to the wallet's address.

I have no plans to move any of the ETH to cash anytime soon, but I realized that I'm not sure how to go about doing so.

I understand how to move ETH from the Ledger wallet to another wallet address, such as one created on MyEtherWallet, but it also is advised that one should never send ETH to an address that they "own" in an exchange such as Coinbase, since it's not an individual address that you have access to.

So, how does one convert ETH from a private wallet into cash? Or, more simply, how do I get ETH from my wallet to my bank account?

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Pretty much the reverse process of how you bought the Ether using Coinbase.

it also is advised that one should never send ETH to an address that they "own" in an exchange such as Coinbase, since it's not an individual address that you have access to.

It's not that you should never send Ether to an exchange address but more that you shouldn't leave it there indefinitely. You will have to send it to an exchange address to sell your Ether as that is currently the only real way of converting ETH to fiat.

  • So sending ETH to my Coinbase ETH Wallet address and selling to PayPal or my bank account will work? For some reason I was under the impression that sending to a Coinbase address would basically be sending ETH into the void. Thanks! – Nannooskeeska May 22 '17 at 12:54
  • No don't worry they won't disappear into the void :P I haven't personally used Coinbase as I don't live in the US but I believe it works just as any other exchange does in that if you go onto your account they should give you a deposit address to send your ether to then you can withdraw what money you sell them for to your bank account or Paypal as you mentioned. – natodemon May 22 '17 at 17:47

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