/biz/ - Business & Finance

>>24940985
based

200 cash

an unknown amount in monero

>>6387604

Ausfag here,

I have an XMR wallet with a balance of 2578 (no I won't give you any). I'm planning to buy a house here in Adelaide soon so I need a way to convert this to AUD.

Presumably I need to convert to BTC first and then send that to an exchange but I'm not sure how to go about this. I planned to deposit the XMR directly into coinspot but they don't support this.

What should I do?

>>5596802
Divesting outside of BTC.

First, other cryptocurrencies are pegged against the price of bitcoin. Much like how stocks are pegged to the price of USD or other fiat. There are only a handful of other coins that get a USD to coin price ticker, the ones purchase able on gateway sites like Coinbase. For other coins you need to use what's known as an exchange. You can think of this exactly like the stock exchange, but the difference is you do not need a minimum account balance to day trade. Jews on Wall Street require 25k for stock day trading. This is a big deal as it allows us goyimknow to speculate and make wealth using Jewish magic.

So, once you have your crypto on your gateway site like Coinbase, you want to transfer that to an exchange. Popular ones are Bittrex.com and Binance.com binance is a chink site, for those curious.
1. Find your exchange of choice and sign up
2. Send your crypto to your exchange wallet. Instructions here depend on the website. NOTE: BTC transaction times are really slow so its generally a good idea to use LTC or ETH as a means of quickly getting funds onto an exchange
(2.5. Optional. If you used LTC or ETH to move to the exchange, use the exchange to sell that coin back to BTC on the exchange, as that's what the exchange pegs other coins against)
3. From here you can buy coins and sell them. You want to invest in good coins and divest properly.

I advise holding, in addition to BTC, one each of: smart contract token, privacy coin. ETH is a smart contract coin and the first one to propose it. However it's technologically doomed, as they allow newer, smaller coins to be created on top of ETH (known as ERC20 tokens) and each coin created on top that is used is essentially contributing to their blockchain size increasing exponentially. There is no sustainable way forward for ETH. Consider NEO, ARK, Cardano, and QTUM.
For privacy, Monero is king. Verge is a McAfee shill privacy coin and could be worth a lot in the future.

THE KING IS MOONING AGAIN!!!