I bought it in the early days and moved several times due to security reasons. As a result, I’m unable to prove its origin. What would be a viable strategy to cash out?
You could use a site like FixedFloat to slowly convert it to another coin, like Bitcoin. (You just have to use a VPN if you’re in the US)
Then you can use something like Bisq to trade it for cash or card or whatever.
You can also convert it to ETH, and send it to an exchange that doesn’t ask too many questions, like PayPal.
I’ve done this last year with 90k with Bisq and 100k with PayPal and I had zero issues.
Legally speaking, yes. Thankfully, it’s treated as selling property in this case. It’s not too bad to deal with.
Though, if you use something like bisq or another p2p exchange, the only persons who will know about the transaction is the seller and the buyer.
It is true, but if this amount of cash were to suddenly appear on my account, it could raise red flags.
Good to see that someone with a considerable amount succeeded in cashing out without issues. Despite that, the PayPal method sounds scary to me. What can I do if they claim a SoF document while blocking my crypto and I fail to pass the check?
It doesn’t work that way with PayPal. You receive it and it’s in your account. Then it just works like any other transaction. You can buy stuff with the balance, too. So there isn’t a need to cash it out all at once. I kept like 40k in it for a long time till I sold it all and banked it in less than a day.
Just be sure to use the ACH as the fees are the worst part.
@popemichael @moneroworld >You just have to use a VPN if you’re in the US
https://trocador.app/
https://flyp.me/
Sideshift.ai
Morphtoken
SimpleSwap
ChangeNow https://changenow.io/ has fiat
Godex
blob
I can also endorse godex.io and Changenow.io as reputable exchanges
That is an awesome list, ZM. I for sure plan on checking out all of them.
Thanks, for the information! 🤩
Kraken. Just say what youve just said. You bought with cash in early days and now it’s worth a lot.
I’m doing OTC for a long time.
Can help you with your request.
Contact me in SimpleX.
About me -> https://thefuzzstone.github.io/
P.S. For now I lost my nickname TheFuzzStone (on Monero.town), currently using this one.
Dont cash it out. Use monerica and keep it in the circular economy.
Good advice, but unfortunately, I can’t buy a house in circular economy yet.
Plenty of ways to use the Monero to live off of. Then you can save more of your fiat job earnings and buy more Monero!
Going back to fiat you are just empowering dirty bankers.
Places where you can spend Monero and buy anything you need.