PlanetWatch token ($PLANETS), the utility token of PlanetWatch, is available on Centralized Exchanges like Bitfinex and MEXC. It is also available for exchange on Algorand-based TinyMan DEX.
You can easily sell your PLANETS tokens by transferring them to these CEXes and swapping them for stablecoins or fiat currency.
If it is available in your Algorand-based wallet, you can sell it off for another currency on the TinyMan DEX. However, you will need ALGO tokens for gas fees on TinyMan.
In this guide, we’ll take a look at PlanetWatch and ways to sell your PLANETS token on various exchange platforms.
What is PlanetWatch?
PlanetWatch is an eco-monitoring and environmental improvement project on Algorand. The project aims at rewarding users with its $PLANETS utility token for submitting data from their eco monitoring devices.
Launched in 2021, the French-based company, PlanetWatch brings together a network that rewards users for collecting environmental data via innovative tech solutions. It also aims to pull data to further improve the quality of air and the state of the environment.
PlanetWatch leverages the high scalability and speed of Algorand to power its ecosystem’s economy, a move to build an eco-friendly initiative on an eco-friendly blockchain.
With this, PlanetWatch provides an incentivized and decentralized air quality monitoring ecosystem. There are also NFT assets assigned as proof of ownership to air quality sensor owners.
Once an owner sends their data, PlanetWatch analyses and validates the data on the Algorand blockchain, then rewards owners with its utility token.
More than 45,000 sensors are monitoring environmental data for PlanetWatch. All data is sent across various databases for personal, cooperative, and governmental use.
Steps to Sell PlanetWatch Token on Tinyman
The fastest way to sell your PlanetWatch token is via the Algorand-based Tinyman DEX. You can also sell the token on CEXes like MEXC and Bitfinex. All you have to do is create an account with them, send tokens to the CEX account and sell them.
Here’s how to sell your PLANET token on TinyMan:
1. Visit Tinyman.org and launch Tinyman app
Go to TinyMan.org on your web browser. On the homepage, tap ‘GO TO TINYMAN V1.1’ on the top right corner. This should take you to the TinyMan swap.
2. Connect your wallet that holds your Planetwatch tokens
In the swap, tap CONNECT TO A WALLET. Choose your preferred wallet. This should redirect you to the wallet. Sign in to your wallet and approve the connection.
3. Enter ‘PLANET’ in the ‘FROM’ field and ‘ALGO’ in the ‘TO’ field
After linking your wallet, go back to the swap. On the swap, tap the double arrow below the token. This should flip the empty field upward so that you can choose PLANETS as the token you’re selling. Tap the empty field labeled ‘Select a token or paste the ID.’ Then search for $PLANETS in the empty field.
4. Enter the amount of Planets you want to sell and click ‘SWAP’
Input the amount of PLANETS tokens you want to sell for ALGO. Finally, swap the tokens and approve the transaction in your wallet.
Steps to Sell PlanetWatch tokens on MEXC
MEXC is a high-performing centralized exchange for crypto trading. PlanetWatch token is available on MEXC as PLANETS/USDT pair. Therefore you can sell your PLANETS tokens for USDT on the exchange.
Here’s how to sell PLANETS tokens with MEXC and other centralized exchanges:
- Log in or Sign up on the MEXC exchange
- Copy PLANET deposit address on MEXC
- Transfer PLANETS tokens to your MEXC account
- Swap MEXC for USDT
1. Log in or Sign up on the MEXC exchange
Before using MEXC or any other exchange where PLANETS token is listed, you must have a verified account.
To open a new account on MEXC, you must supply relevant sign-up details like your email address, password, and KYC details.
Navigate to mexc.com on your web browser and click REGISTER on the top right corner of the homepage.
You can register a new account with your email address or phone number. Enter either of the two in the field provided. Choose a strong password and tap GET CODE to verify your email address or phone number.
Check your email or phone inbox for a verification code from MEXC. Copy and paste the code in the space provided and tap SIGN UP to complete your registration.
2. Copy PLANET deposit address on MEXC
Once your account is set up, go back to the homepage and tap LOG IN in the top right corner. Enter your email address and password. Complete login verifications to access your account.
On the homepage, click WALLET > Overview from the top right part of the navigation bar.
In your wallet, click on DEPOSIT and search for PLANETS on your deposit page.
Choose the PLANETS token from the result and select ALGO as ‘Network.’ A deposit address and a QR code will be displayed. Copy the deposit address and use it to transfer PLANETS tokens from your wallet to MEXC.
3. Transfer PLANETS tokens to your MEXC account
After copying the deposit address, log in to your wallet that holds PLANET tokens to transfer PLANETS tokens from the wallet to MEXC.
When in your wallet, click ‘SEND’. If you can’t find the token, simply click ‘ADD ASSETS’ under the assets menu. You will see your PLANETS tokens and balance afterward.
Ensure you have enough ALGO tokens to cover transaction and gas fees.
On the transfer page, input the transfer amount and paste your MEXC deposit address. Tap ‘CONTINUE’ and approve the transaction in your wallet.
Your planet token should land in MEXC within a few seconds or minutes.
4. Swap PLANETS for USDT
Once you’ve funded your MEXC account with PLANETS tokens, you can now sell it for USDT tokens. You can subsequently trade USDT for fiat currency via various options.
Before selling your PLANETS tokens, ensure it is inside your Spot Trading wallet. You can transfer your assets to Spot trading by navigating to Wallets > Overview.
Log in to your MEXC account and go to MARKETS on the top left part of the navigation bar.
In the market, you can switch to spot trading or search for the PLANETS/USDT trading pair in the search bar.
Click on the result, and you will land in the PLANETS token trading interface.
Tap SELL in the trading interface. Change the order type to MARKET to execute your trade instantly. Input the amount of PLANETS tokens you want to sell and finally tap SELL.
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