A beginner’s guide to cashing out

Key takeaways

• Not all tokens can be sold immediately. Airdropped or obscure tokens may lack liquidity or could be scams, so it’s important to check before attempting to cash out.

• Swapping and bridging may be required. To sell, you might need to convert tokens to ETH or stablecoins and bridge them to the Ethereum mainnet.

• MetaMask integrates fiat off-ramps. You can use the MetaMask Portfolio to sell ETH directly, but be prepared for KYC with third-party providers.

• Non-KYC and P2P options exist. Platforms like Bisq or LocalCoinSwap allow trading without ID, but they carry more risk and require caution.

There are plenty of ways you might end up with a mix of different cryptocurrencies sitting in your MetaMask wallet.

Maybe you work in Web3 — as a developer, copywriter or designer — and your client paid you in their project’s native token.

Or maybe you’re part of a Bitcoin mining pool and occasionally receive rewards straight to your wallet.

You could be farming yield in decentralized finance (DeFi), earning annual percentage yield (APY) on your locked assets. Or, perhaps the most straightforward of all: You completed a few SocialFi tasks and received some community tokens via an airdrop.

Whatever the case, you’ve got crypto in your MetaMask — and now you want to turn it into cash.

In this guide, you’ll learn all the ways you can sell your crypto and withdraw the funds to your bank account or even in cash — whether you’re going through official Know Your Customer (KYC) channels or sticking to more private, non-KYC routes.

Things to know before selling tokens on MetaMask

Before you can turn your tokens into cash, there are a few things you need to get sorted in MetaMask because “not all tokens are created equal.” It’s not always as simple as hitting a “sell” button — especially if you’ve just received tokens via an airdrop or from a lesser-known project.

1. Why some airdropped tokens can’t be sold (yet)

Just because a token shows up in your wallet doesn’t mean it’s ready to be sold. In fact, many airdropped tokens aren’t listed on exchanges at all. That means there’s no market where you can sell them — not yet, anyway. You might see a price attached to the token, but without buyers or liquidity, that value isn’t something you can actually realize right now. So, while it’s great to receive free tokens, they may end up sitting idle in your wallet for a while.

Did you know? If you see a “100% sell fee detected” warning on a token, it’s likely a scam. Scammers airdrop these tokens, hoping you’ll try to sell or interact with them. But when you do, the smart contract takes the full amount — leaving you with nothing. Worse, some link to fake decentralized applications (DApps) that ask you to “claim” or “unlock” the tokens. Connecting your wallet or signing a transaction there can let scammers drain your real assets.

2. Adding missing tokens to your wallet

Sometimes, you’ll receive tokens that don’t even show up in MetaMask at first. That doesn’t mean they’re not there — it just means MetaMask doesn’t recognize them by default. You’ll need to add them manually by grabbing the token’s contract address (usually from the project’s official site or Etherscan) and importing it into your wallet. Once you do that, your balance will show up properly.

Similarly, if you want to receive any asset other than Ether (ETH), the “Import Tokens” option lets you manually add these missing tokens so they show up in the assets list.

3. Getting ready to swap or bridge

Even if your tokens are visible in MetaMask and technically have value, that doesn’t always mean you can sell them for cash right away. Many smaller or newer tokens don’t have direct fiat trading pairs — so you won’t be able to exchange them straight into dollars or euros. 

To get around this, you’ll usually need to swap them for something more liquid, like ETH or a stablecoin such as USDC (USDC), which are more commonly supported by fiat off-ramps.

In some cases, your tokens might also be sitting on a different blockchain — like Arbitrum, BNB Chain or Polygon — while most fiat withdrawal options only support Ethereum mainnet. When that’s the case, you’ll need to bridge your tokens over to Ethereum before you can sell them.

One way to handle both of these steps — swapping and bridging — is by using platforms that combine them into a single flow. For example, with Symbiosis.finance, you can swap a token on one chain and receive a more widely accepted token on Ethereum, all in one transaction. This can save you a few steps and reduce the chance of user error when hopping between tools.

How to sell crypto with MetaMask

The simplest way to sell crypto that you hold on MetaMask is by using the application itself. Here’s what to do:

1. Open MetaMask portfolio: In your MetaMask extension or app, click the “Buy & Sell” button. This will take you to the MetaMask Portfolio site, where you can manage all your assets and begin the selling process.

2. Start the sale process: Click on “Move crypto” at the top of the page and select “Sell” from the dropdown options.

3. Choose your region and currency: MetaMask will ask for your country of residence and preferred fiat currency. This step ensures you’re shown accurate provider options and payout methods available in your area.

4. Enter sale amount: Select Ether and enter how much you’d like to convert.

5. Pick a payout option: Next, choose where you want the fiat to go. Depending on your region and provider availability, you might be able to send it to a bank account, PayPal or another method.

6. Compare offers: MetaMask aggregates offers from several third-party providers (like MoonPay, Transak, Sardine, etc.), showing you real-time exchange rates, fees and estimated payout times. Take a moment to compare and pick the best option for you.

7. Complete the sale: Once you’ve chosen a provider, MetaMask will guide you through sending the crypto. You’ll confirm the transaction in your wallet, and the funds will be transferred to the provider, who handles the fiat payout.

There are two things to keep in mind when using the MetaMask application:

• Firstly, while the application itself might not ask you for KYC, the third-party providers will. So, expect to get your documents ready for this one.

• Secondly, MetaMask’s sell feature only supports ETH on the Ethereum mainnet. This is where the bridging will come in as was explained earlier.

Withdrawing crypto via centralized exchanges

If you’d rather cash out your crypto through a centralized exchange, Coinbase is a popular option. It’s beginner-friendly, offers fiat withdrawals, and supports a wide range of assets. Just note: You’ll need to complete KYC verification before withdrawing any fiat.

Here’s how to do it, step by step:

1. Send crypto from MetaMask to Coinbase 

First things first: You’ll need to move your funds from MetaMask to Coinbase.

• Log in to your Coinbase account and hit “Send & Receive” at the top.

• Switch to the “Receive” tab, pick the crypto you’re sending (like ETH or USDC), and copy the wallet address Coinbase gives you.

• Make sure the network matches — for example, if you’re sending ETH, it should be on the Ethereum (ERC-20) network.

Now open MetaMask:

• Click “Send,” paste in that Coinbase address, and enter how much you want to transfer.

• Double-check the network — if you send it to the wrong one, your funds could disappear.

• Hit “Confirm,” and your crypto should show up in Coinbase after a few minutes.

2. Sell crypto for fiat on Coinbase

Once your funds land in Coinbase, it’s time to cash out.

• Head to “Buy & Sell” at the top and switch to the “Sell” tab.

• Choose the crypto you just received and decide how much you want to sell.

• Pick where you want the money to go — like your linked bank account, PayPal or your Coinbase balance.

• Review the details (including any fees), then hit “Sell.”

Did you know? When withdrawing via centralized exchanges, be cautious of minimum withdrawal amounts and any associated fees. Check these details in advance to make sure the limits and costs are acceptable to you before committing to this route.

Peer-to-peer with KYC

With peer-to-peer (P2P), you’re not selling your crypto to the exchange. Instead, you’re selling it to another user. You choose a buyer based on their offer and preferred payment method (like bank transfer, Revolut, Wise, etc.). Once they send the money to your account, you release the crypto to them. The platform holds your crypto in escrow during the process, so no one can just disappear with your funds.

With centralized exchanges, you’ll have to complete KYC before you’re able to trade in this manner. 

Selling via P2P on Binance

Go to Trade > P2P.

• Choose the coin you want to sell and browse the list of available buyers.

• Select a deal, confirm the order, and wait for the buyer to make the payment.

• Once the payment has arrived in your account, confirm it and release the crypto from escrow.

Did you know? Some peer-to-peer (P2P) cryptocurrency exchanges offer a “cash by mail” option, allowing users to send physical cash through postal services or couriers to settle transactions.

Cashing out of your MetaMask wallet without KYC

For those looking to convert cryptocurrency from their MetaMask wallet to fiat currency without undergoing Know Your Customer (KYC) verification, there are still a few viable paths.

Decentralized P2P platforms let you trade directly with other users, much like their centralized counterparts, though often with minimal or no KYC requirements. 

• LocalCoinSwap: A non-custodial P2P marketplace that supports a wide range of cryptocurrencies and payment methods, including cash. It offers escrow protection and emphasizes privacy.

• Bisq: A fully decentralized exchange that supports a variety of cryptocurrencies, including Bitcoin and Monero (XMR). It runs on a peer-to-peer protocol and doesn’t require user accounts or KYC.

However, without KYC, you’re responsible for vetting the person you’re trading with. Check their reputation, review any available trade history, and always follow platform safety guidelines.

Using cryptocurrency ATMs to withdraw crypto from MetaMask

Withdrawing funds from your MetaMask wallet using cryptocurrency ATMs — often referred to as Bitcoin ATMs — is an option that allows you to convert your digital assets into cash. Here’s how you can approach this method:

1. Locate a cryptocurrency ATM: Begin by finding a cryptocurrency ATM in your vicinity. Websites like CoinATMRadar provide directories of Bitcoin ATM locations worldwide, detailing the services they offer and the cryptocurrencies they support.

2. Prepare your MetaMask wallet: Ensure that the cryptocurrency you intend to withdraw is supported by the ATM. Bitcoin ATMs predominantly support Bitcoin (BTC), so you may need to use a decentralized exchange (DEX) to swap your current tokens for BTC within your MetaMask wallet. Be mindful of transaction fees and exchange rates during this process.

3. Initiate the withdrawal process: At the ATM, select the option to withdraw cash. The machine will prompt you to specify the amount you wish to withdraw and provide a QR code representing the ATM’s wallet address.

4. Transfer funds from MetaMask: Using your MetaMask wallet, scan the QR code provided by the ATM to input the recipient address accurately. Enter the exact amount of cryptocurrency required and confirm the transaction. Be aware that network congestion can affect transaction times.

5. Collect your cash: Once the blockchain confirms the transaction, the ATM will dispense the equivalent amount in cash, minus any applicable fees. This process can take anywhere from a few minutes to longer, depending on network conditions.

When using crypto ATMs, you should expect very high fees, and while small transactions don’t usually require KYC, larger ones still might.

Are MetaMask crypto transactions taxable?

Taxes aren’t the most exciting topic, but they matter when converting crypto from a MetaMask wallet into fiat. Selling crypto, whether through MetaMask, an exchange or a P2P deal, may trigger a taxable event, and understanding the applicable rules is essential.

Selling crypto = possibly taxable

In most countries, including the US, selling crypto for fiat (like US dollars, euros, etc.) is treated like selling property. That means if you bought ETH at $1,000 and sold it later for $1,500, you’ve made a $500 capital gain — and that’s usually taxable.

Even swapping one crypto for another (say, ETH for USDC) can trigger the same kind of tax obligation, even if no fiat is involved. So, yeah, it’s not just cashing out that counts — any trade can be reportable.

To stay on top of it, keep a record of:

• When you bought and sold each asset

• How much you bought and/or sold

• What it was worth in fiat at the time

• Any fees paid along the way.

These details make life way easier when tax season rolls around — or if your accountant gives you that look.

Know your local rules

Crypto laws aren’t one-size-fits-all. Every country has its own stance, and even within the same country, rules can vary depending on how you’re using crypto.

In the US, for example, selling crypto could fall under capital gains tax rules or even money transmission laws, depending on how you’re moving the funds. Other countries might have more lenient — or much stricter — regulations.

So, here’s what to do:

• Look up your local crypto tax laws (even if they seem vague or outdated).

• Stay current — regulations are evolving fast.

• Talk to a pro if you’re unsure. A crypto-savvy accountant or legal adviser can help you avoid nasty surprises.

Even if you’re using non-KYC methods or decentralized tools, tax authorities may still expect a full report. Being proactive about it will save you headaches later — and might even save you money.

Happy cashing out!