Chia Sell/Trade Dance

[DrGuns4Hands]

Where I’m at. I have 2 Chia. It’s right around the $2k I was planning on dropping into Binance.us and using to fund trading bots. The problem. You can’t get from here to there yet.

So what’s the most cost effective way to get from 2 XCH in my wallet to $2k USD on Binance.us I could go through BNB or USDT as middle coins, but how. Uniswap? pancakeswap? OKEX? other exchanges? Keep in mind I am US based.

P.S. Are there any minimum XCH requirements for the pooling mechanisms. I’ll want to make sure to keep enough to cover that. Would hate to try and figure out how to do the whole song and dance again in reverse.

[codinghorror]

Well, there is this topic:

Guide: Selling XCH / Chia for Fiat

Actually turning your hard farmed XCH into cash in your bank can be a confusing and daunting task, and a few people have been asking about it lately. I’ve recently sold XCH, so I’ve gone through this process and sorted it out, so I figured it could be useful for others. Glossary Chia Exchange: An online exchange that allows you to buy and sell XCH Target Fiat: The currency you’re attempting to withdraw Target Coin: The cryptocurrency type that you will use as an intermediary between XCH and y…

Double-check that everything works for US people though.

[DrGuns4Hands]

That had a good rough overview, but what I was looking for were the specifics on avoiding fees. Here’s what I learned from the process and would do better next time.

There are 2 things that will determine how much you get to keep.

1. The Exchange Fee for Turning the XCH into a different coin. (The Maker/Taker fees for the exchange).
2. The method by which you will transfer those exchanged coins to your local exchange for withdrawal into hard currency.(ERC20)(BP20)(BP2)(OMNI) and many other protocols available.
   Obviously these days the fees on ERC-20 are rather high sometimes in the 20-30 USD per transaction. If the exchanges you are transferring between both support an alternative transfer standard you can see fees under a 1 for the transfer.

So find out which exchange has good internal fees for exchanging coins as well as which one has the cheapest transfer mechanism compatible with your final destination exchange. I used MXC, although it did have a problem for me, unfortunately in the end it didn’t support a cheaper mechanism for me to do the transfer since both exchanges had different alternate protocols. So I’d do a better job next time of doing my research up front. MXC doesn’t support US customers technically, but since I didn’t use them for pulling out USD and only used them to turn the XCH to USDT then send over to my binance.us I didn’t have a problem. No ID or anything required when only swapping crypto’s around on that exchange.