0

As I see it, the anonymity of Monero is all but wiped out when you attempt to convert to fiat. You can accept XMR through Woocommerce direct to your wallet. But converting to spendable fiat is a problem without compromising privacy. I guess this is the reason crypto is never going to be a popular choice for merchants. If you are going to lose your privacy when converting it defeats the purpose of taking them as a merchant.

How does one convert XMR to GBP without KYC? I heard of UQUid, a monero to fiat card, is it good?

I have tried to find a debit card that you can top up with Monero and withdraw cash from an ATM in GBP. Does anyone know one preferably one that doesn't require KYC?

Thanks in advance for help and tips.

1 Answer 1

2

As I see it, the anonymity of Monero is all but wiped out when you attempt to convert to fiat. ... But converting to spendable fiat is a problem without compromising privacy.

You see it wrongly then. All that is being divulged when converting with a KYC partner is the fact that you own some Monero. The KYC partner has no knowledge of how you obtained the Monero or from whom.

How does one convert XMR to GBP without KYC?

There are several direct ways (e.g. Bisq, LocalMonero) and even more indirect ways, where you first do an instant exchange to another cryptocurrency using any number of the instant non-KYC exchange sites (e.g. xmr.to, MorphToken), then convert to fiat on one of the big KYC exchanges.

I have tried to find a debit card...

No.

I suggest you start by reviewing the exchanges listed on the main website: https://web.getmonero.org/community/merchants/#exchanges

2
  • Thank you jtgrassie, I apologise I didn't make clear that what I meant by KYC is that they (organisations which convert xmr to fiat) need to know who you are via ID documents. It is not the 'how' you made the Monero that was the concern as I was already aware of that. I guess the point I was making was whether XMR can be converted to GBP without divulging your ID to ANYONE. I have checked the web link you suggest and the solutions offered, but they convertors there require KYC and if they don't it is because they don't do monero to fiat. Thank you for your help.
    – Kesta
    Commented May 24, 2020 at 7:45
  • XMR->BTC is very easy without KYC then BTC->GBP, several options w/without KYC. XMR->USD w/out KYC fairly easy then USD->GBP w/out KYC very easy. Is there an easy option for XMR (or anything) to cash GBP, no, but as outlined, the steps are not exactly difficult or prohibitive.
    – jtgrassie
    Commented May 24, 2020 at 17:22

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service and acknowledge you have read our privacy policy.

Not the answer you're looking for? Browse other questions tagged or ask your own question.