I've been picking up Crypto.com coin (Cronos) for a couple of years now. My average buy price was around $0.08, and I just sold my first 10% on the exchange for about $0.36.
This is my first time selling anything there, and after the transaction fees, sending USDC back to the app, and then cashing out to my bank, I ended up paying 2.5%. Is this the usual rate, or is there a smarter way to sell that might help me dodge some fees next time?
On many centralized exchanges like Crypto.com, there is P2P and most are zero fee transactions.
Is Binance, Bybit, OKX, MEXC, Gate and some other exchanges not allowed in your country? Or if their P2P is not allowed in your country?
Bitget also has P2P but it requires little fee.
I am not sure , I will look more into it. I am from UK and up till now I had mainly just been buying spot positions but want to start selling soon as the price goes up next few months so just want to know for sure best way of selling and withdrawing with least fees possible.
Since you already have you coins on the exchange and it offers p2p services why not just make use of the sell option or if that exchange doesn't support your native local currency, why not send the coin to any of the exchange around your place to make use of their p2p transactions to fet those Coin sold into your local currency, binance may be unavailable region since alot of countries have stops the exchange from p2p market.
2.5% for the withdrawal as fee seems quite much. Get to know more with the exchange you use, so for crypto.com there could be some other ways that's way cheaper. Just as said, check out their P2P markets because it's usually cheaper than the spot market where you'll trade it. Read also how much takers/makers fee that they charge per trade.