Comment by GTP
2 hours ago
Not sure about this, isn't it hard to convert to fiat currency for real-world spending? Since it is often used for illegal activities, Coinbase (and I guess other big exchanges as well) don't trade it.
2 hours ago
Not sure about this, isn't it hard to convert to fiat currency for real-world spending? Since it is often used for illegal activities, Coinbase (and I guess other big exchanges as well) don't trade it.
Just send USDC to Coinbase and convert (sell) to USD for free and withdraw.
You'll still get a 1099 with zero capital gains for it.
> Just send USDC to Coinbase
Sorry, but I'm not much informed about cryptocurrencies. How does one get USDC from Monero? Through some other exchange acceping both?
Yes, there are even semi-decentralized exchanges based on smart contracts, where you can find trade offers posted by others and execute them in a zero-trust way.
Yes, it’s a currency swap. You need to find another person (such as a bank, or in crypto parlance, a “defi”) willing to take what you have and trade you what you want.
You can always atomic swap between bitcoin and monero.