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?

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[–] popemichael@lemmy.sdf.org 1 points 10 months ago (9 children)

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.

[–] moneroworld@monero.town 1 points 10 months ago (1 children)

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?

[–] popemichael@lemmy.sdf.org 1 points 10 months ago

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.

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