How to Sell Fasttoken (FTN) for Fiat Currency

Sell Fasttoken for Fiat Across Multiple Blockchains

If you have Fasttoken (FTN) on multiple blockchain networks, you can still sell it for fiat on Transak.

Step-by-Step Process

1. Select Your Blockchain Network

Start by choosing the blockchain network from which you wish to sell your Fasttoken. Transak supports multiple networks (based on the cryptocurrency), giving you the flexibility to choose the one that best suits your needs.

2. Enter Amount of FTN You Wish to Sell

In the “You pay” field of the Transak interface, input the amount of Fasttoken (FTN) you wish to sell to fiat. Transak will display the equivalent amount of fiat currency you'll receive based on the current exchange rate and the blockchain network you selected.

3. Complete KYC Verification (if necessary)

Transak employs a multi-level KYC solution. Based on the amount of cryptocurrency you are selling and the region, you may be prompted to complete a quick KYC verification.

Full KYC-verified users do not have to undergo the check again in the future.

4.Choose The Fiat Payout Method

Enter the bank details or card information where you want to receive fiat currency. Ensure the details are accurate as money once transferred cannot be refunded.

5. Confirm Transaction and Transfer Fiat

Review your details and click “Confirm.” Acknowledge the disclaimer and capture the provided wallet address.

Transfer the specified amount of cryptocurrency to the wallet address. Select “I have paid” once the transaction is successful.

Sell Fasttoken for Fiat using Visa

Visa is helping Transak enhance its global off-ramp service by implementing Visa Direct capabilities.

This collaboration allows Transak users in over 162+ countries to seamlessly sell their cryptocurrency holdings into local fiat currencies through real-time card withdrawals.

This partnership is a significant step towards the mainstream adoption of digital currencies, making it easier for users to access and utilize their crypto assets in the real world.

Read more about the Transak-Visa partnership here.

Why Sell Fasttoken for Fiat?

In places where cryptocurrencies are not legal tender, selling Fasttoken (FTN) for fiat currency is how people can get their “money” back and use it to purchase goods and services.

Transak's robust off-ramping infrastructure allows users from all over the world to quickly sell cryptocurrency (sell to their local currency).

Why Sell Fasttoken (FTN)?

Selling Fasttoken (FTN) is a personal decision and we encourage doing your own research. Below are a few reasons why users may choose to sell FTN:

• Realize Profits: If the value of your Fasttoken has increased since you acquired it, selling allows you to lock in those gains and sell them into spendable fiat currency.

• Liquidity Needs: Selling Fasttoken can provide immediate liquidity for other investments, paying bills, or covering unexpected expenses.

• Portfolio Diversification: Selling some of your crypto holdings for fiat can help diversify your investment portfolio, balancing the potential risks and returns.

• Regulatory and Tax Considerations: Depending on your jurisdiction, there might be tax advantages to selling FTN. Talk to a financial advisor for more information.