How to sell $300k+ Monero without origin of funds? (monero.town)

submitted 10 months ago by moneroworld@monero.town to c/monero@monero.town

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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

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.

[-] OsrsNeedsF2P@lemmy.ml 2 points 10 months ago

You still have to declare taxes if you do this method.

[-] moneroworld@monero.town 1 points 10 months ago

It's not a problem. My only concern is a failed source of funds check, which could lead to a block on my cryptocurrency.

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this post was submitted on 29 Oct 2023

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