How to sell or trade your mined coins
The safe path from coins in your wallet to money: picking an exchange, depositing with a test send, trading, withdrawing and keeping records.
How do you sell your mined coins?
Selling takes four steps: get paid to your wallet, deposit to an exchange, trade, then withdraw.
This pool pays non-custodially. That means your mined coins go to a wallet only you control.
So selling is a separate step that you take yourself. You choose when: on every payout, on a schedule, or only when you need to. The steps are the same either way.
Where does your coin trade?
Large mined coins such as Bitcoin trade on the major exchanges. These include Binance, Coinbase, Kraken, OKX, Bybit and others.
Newer and smaller coins list on smaller exchanges first.
For Qubitcoin, this guide names no exchange. Its markets can change, so look them up as shown below.
To find the current markets for any coin, use a market aggregator such as CoinGecko or CoinMarketCap. Open the coin's page and read its live list of exchanges and pairs.
A pair is the two assets a market swaps, such as a coin against USDT. Pick the exchange with real trading volume on your coin's pair.
How do you deposit safely?
The safe way in is a small test send first:
- Create an account on the exchange. Most exchanges require identity verification.
- Open the deposit page for your exact coin, and copy the deposit address it shows.
- Send a small test amount from your wallet first.
- Wait until the test amount is credited. Only then send the rest.
Check that the coin and the network match exactly. A deposit sent as the wrong asset or over the wrong network is usually lost for good.
Never type an address by hand. Some coins on some exchanges also need a memo or tag next to the address.
How do you trade and withdraw?
Once your deposit is credited, sell on your coin's pair. You usually sell into a stablecoin such as USDT, or into Bitcoin.
If the market is thin, with few buyers and sellers, use a limit order. A limit order sets your price, so a single market order does not eat through the order book.
Then move the money out. Withdraw cash to your bank where the exchange supports it, or withdraw the crypto back to your own wallet.
Do not leave a balance on an exchange longer than you need to. An exchange account is custodial, which means the exchange holds your coins.
What records should you keep?
Keep a simple record of dates, amounts and prices. Mining income and sales are taxable in most countries. The rules are yours to check where you live.