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If I try withdrawing my Monero, I need to convert it to usd, and then withdraw. Can't that process be tracked to me?
by chistev 1y ago
If I try withdrawing my Monero, I need to convert it to usd, and then withdraw. Can't that process be tracked to me?
- OutOfHere 1y agoWithdrawing it is silly because one can swap and spend it directly on sites that accept cryptocurrencies, as an increasing number of them do accept. Also, even if the withdrawal itself is trackable and taxable, withdrawing it will not reveal your prior transactions which is the point. Pro tip: Do not buy Monero for any amount that you want back as cash.
- Sayrus 1y agoTrade it directly for USD in cash. I'm not sure what the laws are in the US but I don't remember seeing that owning or selling was illegal in any way.
- 2OEH8eoCRo0 1y agoYes. A friend of mine worked cybercrime and said that was often a weak link- criminals tend to want to enjoy the money which means converting and withdrawing or buying physical things.