You just found out your old smartphone has more value than you ever thought possible and now you can’t wait to turn it into cash by selling it or trading it in toward a new phone. But that device isn’t just a phone, it’s a detailed record of your life. So whether you are trading in to help pay for an upgrade or looking to ditch that dinosaur in your sock drawer, take these steps first: 1. Back It Up: You should be backing up your phone regularly anyway, but it is especially crucial if you no longer plan own the device. Apple provides a walkthrough on how to back up your iPhone using iCloud or on your computer using iTunes. For an Android phone, set up your Google account to back up information through the settings menu. Many handset makers provide backup applications on the device. Other options on Android include Titanium, G Cloud Backup, and Helium.