3

Let's say I have my Monero wallet and there are some coins in it. How would I go about getting USD for those coins? I read about exchanges where one can buy and sell Monero on this thread -- What options are available for directly buying Monero with fiat currency? , however after opening an account on the Livecoin exchange, it seems like the only way I can sell Monero is by first putting USD into the exchange, buying Monero, and then selling it at a later time. How would I go about taking my existing Monero wallet and then exchanging that into USD?

2

You can also use a service like LocalMonero to sell the Monero directly to someone for cash if that is your preference.

1

The exchange will provide a Monero address where you can send funds from your wallet. This address will appear if you click Balance and then scroll down to the Monero line of the "Crypto Balance" section. See this video for a demonstration: https://www.youtube.com/watch?v=__se5VGrgBM

The exchange will report that it is successfully holding an XMR balance for you. You can then instruct the exchange to sell those XMR for USD.

Lastly, you would withdraw the USD from the exchange to your USD bank account.

  • The exchange may also provide a payment ID, which is required to match the incoming XMR to the customer (unless the address is an integrated address or a customer-specific subaddress). – user1425 Jul 7 '18 at 22:15

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

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