A Step-by-Step Guide to Selling Tokens and Withdrawing in INR

Introduction

On September 26, Binance officially listed Hamster Kombat (HMSTR), enabling users to engage in various trading, margin, and investment activities for the token. Despite an initial surge that pushed its market capitalization over $600 million, HMSTR’s price has experienced a notable decline of over 44% from its peak of nearly $0.01. Nevertheless, the token remains in an exciting phase with the potential for significant future gains.

Understanding Market Dynamics

Investors should be prepared for possible sell-offs as early adopters and airdrop recipients may look to secure their profits after the initial surge in trading activity. In this period of uncertainty, having a clear strategy for selling your tokens and converting them into INR can be crucial.

Selling Tokens on Binance

Follow these steps to sell your HMSTR tokens on Binance:

1. Open the Binance app or website and log in to your account.
2. Navigate to the Market section and search for “Hamster.”
3. Select the trading pair “HMSTR/USDT.”
4. Click on Sell, choose the quantity of tokens you wish to sell, and place your sell order.
5. Once sold, the tokens will convert to USDT in your Binance account.

Withdrawing USDT to CoinDCX

If you wish to convert your USDT into INR, you will need to transfer the USDT to an Indian exchange like CoinDCX. Here’s how:

1. Log in to your CoinDCX account. If you don’t have one, sign up and complete the KYC process.
2. Go to your Portfolio, click on Deposit, and choose BEP20 as the network.
3. Copy the deposit address provided by CoinDCX.
4. Return to Binance, click on Withdraw, paste the copied address, select BEP20, and enter the amount of USDT you wish to transfer.
5. Confirm the withdrawal. Once processed, your USDT will appear in your CoinDCX account.

Converting USDT to INR

After your USDT appears in your CoinDCX account, follow these steps to convert it into INR:

1. Sell the USDT for INR on the CoinDCX platform.
2. Navigate to the Funds section and click on Withdraw INR.
3. Enter the amount you wish to withdraw and link your bank account if not already linked.
4. Complete the withdrawal process, and the INR will be deposited into your bank account within minutes.

Conclusion

While the cryptocurrency market can be volatile, having a clear plan to sell your tokens and convert them into your local currency can help you navigate through uncertain times. By following the steps outlined above, you can efficiently convert your Hamster Kombat (HMSTR) tokens into INR.

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