!!! warning
    This is not a complete recipe - it's a component of the [cryptominer](/recipies/cryptominer/) "_uber-recipe_", but has been split into its own page to reduce complexity.

# Exchange

You may be mining a particular coin, and want to hold onto it, in the hopes of long-term growth. In that case, stick it in a [wallet](/recipies/cryptominer/wallet/) and be done with it.

You may also not care too much about the coin (you're mining for money, right?), in which case you want to "cash out" your coins into something you can spend.

In this case, you'll want to configure your mining pool to send your coin-of-choice to an **exchange**, so that you can turn it into a **different** coin, or extract it into FIAT (_oldschool, cave-man currency_).

## Preparation

### Get verified at exchanges

Most exchanges (Binance is currently a notable exception) require some sort of verification of your ID before they'll let you trade, or withdraw coins as FIAT.
So, you may as well get yourself verified in anticipation (_it can take a while during periods of increased crypto-hype_).

Here are (_referral_) links to exchanges I've used personally:

* [Cryptopia](https://www.cryptopia.co.nz/Register?referrer=funkypenguin) : Trades obscure altcoins that other exchanges don't, and can withdraw to USD and NZD
* [Binance](https://www.binance.com/?ref=15312815) : Doesn't require verification for small-time traders/miners
* [Coinbase](https://www.coinbase.com/join/5a4d1ed0ee3de40195a695c8) : Beginner's exchange. Coins mined in Nicehash can be sent to coinbase with zero fees.

### Send coins to Exchanges

Now simply configure your mining pool (or your miner) to send your coins to your wallet's deposit address for each coin. Note that every coin has a unique wallet address.

!!! warning
    Don't try to send one coin (i.e., LTC) to a different coin's (i.e. BTC) wallet. You will **loose** your money and be **sad** 😞

## Withdraw coins to FIAT (cash)

Once you have enough coins in your exchange wallet, you can "trade" them into the real-world currency of your choice. For example, if you mined 100 Ella to [Cryptopia](https://www.cryptopia.co.nz/Register?referrer=funkypenguin), you could trade it for NZDT or USDT, and withdraw it to your bank account.

## Continue your adventure

Now, continue to the next stage of your grand mining adventure:

1. Build your [mining rig](/recipies/cryptominer/mining-rig/) 💻
2. Setup your [AMD](/recipies/cryptominer/amd-gpu/) or [Nvidia](/recipies/cryptominer/nvidia-gpu/) GPUs 🎨
3. Sign up for [mining pools](/recipies/cryptominer/mining-pool/) :swimmer:
4. Setup your miners with [Miner Hotel](/recipies/cryptominer/minerhotel/) 🏨
5. Send your coins to exchanges (_This page_) or [wallets](/recipies/cryptominer/wallet/) 💹
6. [Monitor](/recipies/cryptominer/monitor/) your empire :heartbeat:
7. [Profit](/recipies/cryptominer/profit/)! 💰


## Chef's Notes

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Did you receive excellent service? Want to make your waiter happy? (_..and support development of current and future recipes!_) See the [support](/support/) page for (_free or paid)_ ways to say thank you! 👏

### Your comments? 💬
