After you have earned some returns from the UST you’ve deposited into Anchor Protocol, you may be looking for a way to cash it out.
There are a few ways that you can do so, and here’s what you need to know.
How to sell UST tokens
Here are 5 ways that you can sell UST to another cryptocurrency:
- Terra Station
This is a summary of all the platforms,
|Terra Station||High spread|
|Binance||Up to 0.1%|
|KuCoin||Up to 0.1%|
|Bitifinex||Up to 0.2%|
|Huobi||Up to 0.2%|
and here is each one explained further:
After you have withdrawn UST from the Anchor Protocol, you will receive it back in your Terra Station wallet.
You may notice that the aUST in your Terra Station wallet is converted to UST, and you can find out the differences between these 2 currencies here.
After that, you can go to ‘Swap‘,
and then select a cryptocurrency that you’ll wish to swap from UST.
You can select the amount of UST that you wish to swap, and view the corresponding fee.
Although the transaction fee is rather low, the spread for trading UST to another cryptocurrency is quite bad on Terra Station.
This means that you may not exchange your UST at a favourable rate!
As such, it may be better to use an exchange where you can trade at close to the market rate.
Binance is another platform where you can sell UST to another cryptocurrency.
First, you will need to deposit UST from Terra Station to your Binance account.
You will need to go to ‘Wallet‘, and then ‘Fiat/Spot‘.
And then select ‘Deposit’ for UST.
You will need to withdraw UST from your Terra Station wallet to your Binance account using the Terra network deposit address.
If you send UST to another deposit address on Binance that does not start with ‘terra‘, your funds may be lost forever! Moreover, don’t forget to include the memo when you are sending UST to Binance.
Once you have UST credited to your Binance account, you can trade it for these 5 cryptocurrencies:
This allows you to sell your UST for another cryptocurrency.
Binance charges up to 0.1% for each trade that you make, which is rather reasonable!
Another platform that you can sell UST on is KuCoin.
You’ll need to deposit UST into KuCoin by going to ‘Deposit‘.
You can use the dropdown menu to select UST.
From there, you will be given a deposit address to send your crypto to.
You are able to send UST to KuCoin using either the Terra network or ERC20.
If you are using the Terra network, don’t forget to include the memo!
When you deposit your UST into your KuCoin account, it will be transferred to your Main Account.
If you wish to sell UST, you will need to transfer it to your Trading Account.
After you’ve transferred your crypto to your Trading Account, you can go to KuCoin’s Spot Exchange.
This will bring you to KuCoin’s trading platform.
There are a few cryptocurrencies that you can sell UST for, including:
KuCoin allows you to make 4 different orders:
- Stop Limit
- Stop Market
KuCoin charges up to 0.1% if you trade on their platform, which is similar to Binance.
Bitfinex is another platform that allows you to sell UST for another cryptocurrency.
First, you’ll need to deposit UST by going ‘Wallet → Deposit‘,
and then search for UST (TerraUSD).
This will show you the deposit address that you’ll need to send UST to.
Bitfinex only accepts UST deposits via the Terra network, and not the ERC20 network.
Once you have deposited UST, you will need to go to the trading platform to sell UST for another cryptocurrency or USD.
Bitfinex charges up to 0.2% for each trade, which is more expensive than Binance or KuCoin. However, it allows you to trade UST directly to UST.
The last platform that you can sell UST on is Huobi.
Similar to other platforms, you will need to deposit UST to Huobi by going to the ‘Exchange Account‘.
After searching for UST,
you can click on the deposit button, which will give you a Terra network deposit address.
This means that you can’t send the ERC20 version of UST to Huobi.
Once UST has been deposited, you can go to the Trading platform (Exchange),
and search for a UST trading pair.
You can trade UST for other cryptocurrencies, such as:
However, you will need to search for ‘LUNA’ or ‘MIR’ to obtain that trading pair.
Similar to Bitfinex, Huobi charges up to 0.2% for each trade.
There are not many platforms where you can sell UST to another cryptocurrency or fiat currency.
If you wish to sell UST directly to fiat, the best way would be to send it to Bitfinex and trade it directly to USD.
However, you will incur a 60 USD withdrawal fee, which is quite high!
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