i was lucky to get 2 chia last night at 134 plots and im allmost out of storage, so im planing on selling this 2 chias to buy more storage but i havent sold any crypto before, is there a recomended exchange that works good for people in europe where i can sell thise 2 and get cash to my bank account so i can buy the hardware ? when i get that plotted i will be holding the chias but i need some cash now to get some enterprise jbod enclosures i have a good deal on so i will have alot of storage for i time
These are the one know about so far…
I will do a follow up article with a price/user comparison in due course.
great. will check them out
dont look like there is an option to just sell it and get SEK to my bank account, all i can find is to trade for other cryptos, i just want to sell it and get swedish money to my bank account, i have never sold crypto so im lost in how it works
Don’t think many people have sold for “real” money yet, but if you’re able to exchange your XCH to a more common crypto currency like ETH or BTC then you should easily be able to sell those for traditional currency.
Be aware (!!) selling crypto in Denmark (and Sweden) is considered as you realizing an investment, you HAVE to report the transaction to the tax authorities and they take quite a cut (at least in Denmark, not too familiar with Swedish tax laws). I have not yet realized any of my crypto but I understand this could be up to 40-50% taxed. So reserve that money, you don’t want to get fined years later for not reporting investment income.
If you find a good option to sell and get it in SEK I´m intressted to know how
I think its 30% here in Sweden and one have to report it when we do our tax declaration or whats it called in english, but we are allowed to earn 17000:- a year as a hobby without tax but 2 chia more and im over that ammont so, but if i get more drives and I see that the netspace get stabile i might register for a personal company so it Will be easyer with taxes, The value of chia right now in swedish valuta is pretty good so like 4 chia is a month pay from my curent work and im have a pretty god salery working in it so
Coinbase looks like its the best option when they start so one can Sell
I think the easiest is to just open an account with a local exchange platform and create a BTC/USTD or whatever wallet that you can use there to convert to cash.
Then you can sell your XCH for BTC/USTD on the international exchanges that have XCH listed and then transfer that to your own wallet you created in sweden.
Little bit cumbersome maybe but not really difficult either. I will be doing the same here in Holland
will try that, looks like i will test to send it to gate.io and convert it to bitcoin or etherium and then send it to coinbase to sell for sek
Dude!!! Gotta get comfortable with “coin swaps” here’s a high level over-view just gotta figure out what “pairs” get you the currency you desire: Wanna buy XCH today — Coin swap 101 in your case your final swap will probably be BTC → EUR
Did you manage to sell?
I need to sell also few XCH in Europe for € to reinvest.
havent sold anything yet. planing on testing this weekend to see how it go
it was good move to wait, over 50% up today
So I tested OKex today and sold 0.1 there - all went smoothly. Then moved funds to binance - also all ok.
yes i see that i have moved 0.1 to gate.io so i will try to do the rest tonight, i have to upload the driving licens to convert i think as i tryed but it got canceled, so i will try later and i noticed that binance have a visa card i can load from that account so thats nice
Did it work to sell?
Yes it did, tranfered to gate.io and converted to usdt and then to binance and converted to euro and then withdraw to bank, i think i manage to get pretty low fees so and it was pretty easy to do,
what fee did you set during transfer chia from your wallet to gate.io ?
I did set 0 as fee and it worked fine
Using OKEX as an exchange, what is the best approach to withdraw Chia and prevent high fees on BTC?
Would Litecoin be a solution?