How to Purchase Chinese Renminbi (CNY) Using Sponge (OLD) ($SPONGE)
To purchase Chinese Renminbi using Sponge (OLD), start by finding a cryptocurrency exchange that offers the CNY/$SPONGE trading pair. Create an account, verify your identity, and deposit your $SPONGE into your exchange wallet. Then, locate the CNY/$SPONGE pair on the platform and place an order to trade your Sponge (OLD) for Chinese Renminbi. If the pair is unavailable, you can first exchange Sponge (OLD) for a stablecoin like Tether (USDT) or a fiat currency, then trade that for Chinese Renminbi. Be aware of potential exchange fees, which can vary by platform and impact the total cost of your transaction.
How to Exchange Chinese Renminbi (CNY) for Sponge (OLD) ($SPONGE)
To sell Chinese Renminbi for Sponge (OLD), first, find a cryptocurrency exchange that supports the CNY/$SPONGE trading pair. Create an account, verify your identity, and deposit your CNY into your exchange wallet. Locate the CNY/$SPONGE pair on the trading platform and place a sell order to exchange your Chinese Renminbi for Sponge (OLD). If the CNY/$SPONGE pair is unavailable, you can first sell Chinese Renminbi for a stablecoin like Tether (USDT) or a fiat currency, then trade that for Sponge (OLD). Be mindful of potential exchange fees, which vary by platform and can affect the total amount you receive.
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