Best Way to Reinvest XCH

I just won some XCH - I’m trying to sell it and reinvest it into more storage. I’m not sure the best way to do that - I assume I’d need to go from XCH to BTC/ETH then sell that? And is there an exchange that does it all in one? Any recommendations or ideas?

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That’s great to hear that you won some XCH! If you want to reinvest, you should sell it on some exchanges as listed at Exchanges - ChiaLinks - Chia Cryptocurrency Resources (the ones with green checkmarks are recommended), trading XCH to BTC/ETH and then to fiat. You can then use that money for more drives or improving your plotting rig. Depending on how much of the netspace you have and how fast you can plot, you should decide whether to plot for solo farming or wait until the pool protocol is released (that way you don’t need to replot after you just finished plotting).

However, having said all that, I would kindly ask that you consider re-investing just a small portion of your win back into the community. I run a community faucet at https://xchfaucet.togatech.org/ (donation address listed towards the top) where we give people free Chia from claiming daily or playing fun, arcade-style games. We do this to bring hope to the community and allow anyone to get access to Chia (no matter their netspace size) while waiting for their plotting to finish or their farming to reap rewards. Any donation you make will go directly into the hands of the community, and we hope that you will consider making a donation to keep this project running. Thanks so much!

Well, current Chia price is actually not rly good to reinvest. I am waiting for the better price and try to reinvest the money from the different source and that’s what i am suggesting :stuck_out_tongue:

I would exchange half for USDT or USDC and use it to do high risk trading on Ethereum and BTC - They are making wild swings so when in high green sell then short sell - when in red really red then buy, then leverage… Make money in the Zigzag, there is no investing in this market…if somehow you can convert it into gold then get gold, that is the only investment left now…Or if you cant get it into gold keep half in form of USDC, wait for market to become flat then buy back a little bit of XCH, BTC, & ETH…waiting about a year or so to be able to do that…

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Here’s a list of exchanges that support Chia:

If you want to do a private sale, I’d buy your Chia at the market rate. If so, feel free to DM me.

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I believe Paxos offers tokenized gold at PAX Gold | Paxos so you can trade to gold.

Of course you could sell/trade 1.75 to 1.9 XCH and use the remaining 0.25 to 0.1 XCH as a donation to community projects such as XCH Faucet. I think that you could use PAX Gold as a gold investment or trade the swings in the market to make better returns than using the money to buy more drives or plotting rigs.

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FWIW, I did this with BTC back in the day when it was worth a small fraction of what it is now, and looking back the best investment I could’ve made would have been to throw it in a cold wallet and just forget about it. Lost most of it day trading and investing in mining companies. I was young, dumb, and didn’t fully realize its potential. Maybe you’re smarter about it than I was back then, just my 2 cents.

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So, i find this very weird - maybe i am just overthinking this. Let me know if this is a good plan/idea?
I’ve decided to use XCH for both funding of my current chia rig and also investing back into other forms of crypto - So, im thinking a 1/1 split. Reinvest 1 coin and Trade with the other.

I have XCH, and i’d like to get it onto a platform such as Coinbase, Gemini, Etc. I’d like this in the form of ETH or BTC. I was thinking of doing the following.

  1. Sent from my chia wallet to gate.io or okex.com
  2. Take said chia (1) coin and convert/trade that into BTC/ETH (pref ETH).
  3. Take the balance of that BTC/ETH and send it to my Coinbase or Gemini wallet.
  4. Hold it on Coinbase/Gemini and trade as i see fit; Ready to withdraw at any point in time in the event i need to liquidate or reinvest or even fund another project.

I have a few concerns.

  1. Is the plan i laid out even possible? I’m unsure of whether i can transfer from gate.io or okex.com to coinbase or gemini.
  2. Are there any transaction fees that will just eat away at my overall funds by the time it gets to the final wallet?
  3. Is there a better way to do this?
  4. Should i just forget about it and wait until XCH is officially listed on coinbase (Which i hope will happen, do we know if it will?) or just wait until something occurs to make this easier? Idk.

Anyone? No input? XD

No one else can say if its a good plan / idea, it’s your investment, do as you wish with it, no one can predict the future to see what’s the best course if action to maximise profits.

I’ve used neither exchange, but if you sell xch to btc or usdt you can move it to another exchange that accepts usdt or btc to sell to fiat, yes.

No xch fee, but btc has fees, I’d imagine usdt has fees, iirc coinbase Pro has no transaction fees, but I’ve not used it and just read that.
You will have exchange fees on the buys / sells also.

Depends on end goals, research fees etc and choose your best option.

Up to you, your investment, you must decide.

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Yes, can confirm this is possible - to withdraw XCH I first transferred it to gate.io, exchanged it for USDT, then transferred the USDT to binance and withdrew it to my bank account. If I’d wanted to I could have transferred it to other cryptos instead at either gate or binance (and see no reason why I couldn’t have transferred to any one of those other exchanges you mentioned instead).

No fee to get XCH into gate, there may have been a small fee to transfer to USDT and send it to my binance wallet, but the only meaningful fee was the withdrawal fee to my bank account.

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Tether fees

https://withdrawalfees.com/coins/tether

Btc fees

https://withdrawalfees.com/coins/bitcoin

Usdt is certainly cheaper to move.

Just be aware tether is not backed 1:1 with fiat, so personally I wouldn’t hold it for to long.

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Send it to crypto.com, and spend it through their Visa Debit card. That will be the easiest way to turn some XCH into more storage.