Selling

[Ace0312]

So I am new to the whole crypto game. Only have one question. If let's say xrp explodes and my position in it totals to a significant amount of money how the hell do I sell such a big amount in an xchange lets say like kraken? With all the limits and all.. please can someone help clarify this? Thanx ahead of time and pardon my ignorance 

[Tonnie]

Just a newbie here. But I think this is all very basic economics...

Like Kraken, all exchanges are markets to buy and sell (in this instance) XRP. The exchanges attach a buyer to a seller when the prices match. When the prices 'explode' it will be because demand is higher than supply. There will be a high demand for XRP. And so there will be buyers. When the demand decreases, the price will steady and then drop.

[Ace0312]

I meant to take out actual usd

 

[Let_her_Ripple]

Hi @Ace0312, 

Most questions have answers buried somewhere here in the forums. Here's one from a few months back:

You should find some clues there. In short, exchanges will typically allow you to transfer out in fiat. Have a look through their sites and you should find what you need.

For example:
https://support.kraken.com/hc/en-us/articles/204359203-How-do-I-withdraw-fiat-currencies-from-my-account-

After a couple more runs like the last 48 hours this question will be very important. That, and finding a decent accountant for tax minimisation. 

Edited December 15, 2017 by Let_her_Ripple
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[Ace0312]

Thanx a million