woke up to 2 chias at 134 plots, so this is truly working will be selling these to buy 2 second hand jbod storage enclosures to ad to my server rack as im out of disk right now and wanted to see if it was possible to win before i got any more storage, just have to find a exchange that work for me in europe that i can trade them for cash in my bank account. then im going to hold the rest of future wins if i dont need to get more storege
Can you tell where you sell it in eu ? i hope to win someday and also invest ^^
i think i will use coinbase when they allow selling, i have checked several sites and coinbase feels best
and it looks like i can sale it and get money straight to my bank
You must be very lucky my friend. Congratulations
The key with crypto is coin swaps. you can coin swap your way into any currency. Godspeed my friend!
I’m curious, having never done a coin swap before, how that works. Can you go into how you use them? (Maybe in a new thread )
This would have to be private. Most exchanges I think convert to fiat and buy? Which triggers a possible tax event.
will look into this how to do it the best way
Basic format is: You go to a site and tell them you want to convert X amount of coin1 to coin2.
They have a form you fill and it will show you how much of coin2 you will get.
In the background they have brokers and APIs connecting to people/companies with coins willing to swap.
You give them your coin2 wallet address and hit submit. They then generate the walled ID you need to send coin1 to. Once you send it takes a few minutes or longer to complete and verify the transaction.
okey thats is somewhat how i have understand it, im just a litle afraid to do it so i dont loose my 2 chias i have it looks like i can send it to gate.io and convert it to bitcoin or etherium and then send i to coinbase to sell it for SEK and transfer to my bank
If you’re worried, do the entire process with a smaller amount, say, 0.1 XCH first. Don’t go too small or you risk going below minimum deposit/withdrawal/trade amounts.
BTC and ETH aren’t the best choice for transactions as they’re suffering from really high transaction fees right now.
I’d suggest DOGE or BCH but those have high volatility right now.
Just find a coin that both of your chosen exchanges support, has low withdrawal fees on the exchange you’re going to sell your XCH on, has reasonably short transaction times and isn’t undergoing massive price swings right now.
I put together a detailed over-view of “coin swaps” here: Wanna buy XCH today — Coin swap 101 hopefully it helps clarify a complex process!
thanks for all the info. will check it out this weekend and test
wow ! lucky !! very nice !!!
Congrats! Same position here, just waiting for some ‘reality’ then will invest a little more. Hopefully i get a proof before i fill up 100TiB!