TER General Board

Re: Converting Crypto
pronational 547 reads
posted
1 / 4

In the aftermath of the coming legislation, the websites we've used will continue to go away.  Any advertising options that do emerge will most likely require Bitcoin as payment for services rendered.  Credit card processors won't touch them (they barely did before this).  So learn to use it, ladies.  It's really not that hard.  

LillianWest See my TER Reviews 82 reads
posted
2 / 4

I've written a word doc to help a newbie get started. The transaction fees are very low and the payments are anonymous between the people in the transaction. Many ladies have had their PayPal accounts and merchant accounts pulled because these companies have put 2 and 2 together. Crypto is the answer. I recommend Litecoin. Faster transaction time and lower fees. Write me for more info. [email protected].

justsauce16 4 Reviews 83 reads
posted
3 / 4

Unless you're "washing" your bitcoins through a tumbler or offshore exchanges that bitcoin has a transaction history that can be easily traced back to where you bought it with USD, and from there to your identity.

 
Also, fees are cheap now, but they have been horrendously high. It's better to support something built with privacy in mind like Monero, or at minimum bitcoin cash because they have low fees by design.

 
Additionally, if you're paying a provider in bitcoin, and you're on coinbase (likely), they will shut your coinbase account down if they find out. This means you lose all of your bitcoin, with no recourse. This has 100% happened to people, don't be dumb and let it happen to you.

justsauce16 4 Reviews 58 reads
posted
4 / 4

You're referring to an "atomic swap" where you can programmatically convert one crypto currency to another without a middleman or exchange service.
**This isn't possible with Monero**

 

Solution:
Use an offshore exchange to trade your Monero for Bitcoin, Bitcoin Cash, or whatever crypto you'd like. This might take multiple trades to get what you want, but it's possible just about anywhere to get Bitcoin for Monero.

 
 The officially sanctioned Sauce™ way of doing this is to use Binance [www.binance.com] and trade your Monero for Bitcoin, then transfer your Bitcoin to Coinbase, then Sell your Bitcoin on Coinbase for USD that you deposit into your bank account. You'll owe capital gains tax on this money, so keep that in mind around tax time.

If you get stuck somewhere in this process, feel free to PM me and I can help you out.

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