makemeraf Posted September 20, 2018 Share Posted September 20, 2018 (edited) I really would like to know since I still don't have a solid exit plan. What are the best exchanges that offers international wire transfer service with SWIFT(Ironic, right?). Is Bitstamp and Wirex good? Those are the only ones that I found that are somewhat legit. What do you think? Would like to hear your plans and recommendations. Thank you. Edited September 20, 2018 by makemeraf DavyJones 1 Link to comment Share on other sites More sharing options...
Picard Posted September 20, 2018 Share Posted September 20, 2018 Bitstamp is a great and reliable exchange. Hopefully also when I want to cash out but the references are good. Quintree 1 Link to comment Share on other sites More sharing options...
xrpwizard Posted September 20, 2018 Share Posted September 20, 2018 Oh man I'm glad to see a sentiment change in that people are planning for how to cash out ? To answer your question it depends on your country of residence and appropriate tax requirements, google should be able to provide several options for consideration. WillGetThere 1 Link to comment Share on other sites More sharing options...
DarthTrader Posted September 20, 2018 Share Posted September 20, 2018 (edited) btw i love how the forum contend is changing by pumps. Let the positive energy floating Edited September 20, 2018 by DarthTrader WillGetThere 1 Link to comment Share on other sites More sharing options...
HazzaHat Posted September 20, 2018 Share Posted September 20, 2018 (edited) I think you have to weight up all pros and cons such as finding the best rates and customer services along with the safest to send your identification to, after all your personal ID is very valuable and should only be sent to the safest and secure organisations. I have not decided yet but my exit strategy might involve converting the XRP to Bitcoin and then using an exchange with an excellent reputation such as Coinbase to withdraw cash to my bank account but as the previous poster stated it depends on the country of residence. Edited September 20, 2018 by HazzaHat enrique11 and Cesar1810 2 Link to comment Share on other sites More sharing options...
scoobysi Posted September 20, 2018 Share Posted September 20, 2018 my easy first exit for a small %age of my zerps to cover my in will probably be by converting XRP to GBP on wirex. Not sure what it's like to transfer the £ off it so I'll probably just use it as direct source for paying off some debts or part of mortgage etc. More notable future withdraws I am less worried about planning for now as I believe there will be more fiat pairs with binance etc long before I need that..... xrplease 1 Link to comment Share on other sites More sharing options...
tulo Posted September 20, 2018 Share Posted September 20, 2018 Bitstamp is very good. Just expect lots of KYC questions when you withdrawal 20k USD or more. MegaNerd 1 Link to comment Share on other sites More sharing options...
Guest Posted September 20, 2018 Share Posted September 20, 2018 With PNC bank now on board, my hopes are that our domestic banks will offer some sort of custodial services for certain assets, XRP being one of them. With this scenario, you'd be able to exchange USD for XRP as easy as transferring money online within your bank. Link to comment Share on other sites More sharing options...
DavyJones Posted September 20, 2018 Share Posted September 20, 2018 (edited) I just set some random exit points where I will cash out small amounts over time. There is no point in trying to time the highs or hope for an even higher price. Will I miss some gains? Sure, but I will also prevent some losses, because I don't think that the price goes straight to $10 or higher. If it ever hits such crazy prices I will decide what to do with the rest of my stack. Additionally I will most likely buy more if there is another 70-80% correction again after the next bull market. Bitstamp is solid, never had any problems here, but they will ask many questions when you want to cash out larger sums of fiat. Edited September 20, 2018 by DavyJones XRPto50dollars 1 Link to comment Share on other sites More sharing options...
TokenBaby Posted September 20, 2018 Share Posted September 20, 2018 Don't sell for fiat. Use it as collateral for a crypto-backed fiat loan instead. Use nexo.io and save on taxes, plus keep your $XRP and the upside. enrique11 1 Link to comment Share on other sites More sharing options...
AwesomeCopper Posted September 20, 2018 Share Posted September 20, 2018 46 minutes ago, TokenBaby said: Don't sell for fiat. Use it as collateral for a crypto-backed fiat loan instead. Use nexo.io and save on taxes, plus keep your $XRP and the upside. Too bad they don’t take xrp yet. Seems like an interesting concept. Although it doesn’t state the actual dividend payouts I wonder if it’s better to use this strategy or cash out with long term gain taxes. All cryptos besides their own coin have a 16% apy interest. Capital gains are 15% in my state. I’d do it if the dividens were higher than say 4-5% Link to comment Share on other sites More sharing options...
MegaNerd Posted September 20, 2018 Share Posted September 20, 2018 4 hours ago, HazzaHat said: I think you have to weight up all pros and cons such as finding the best rates and customer services along with the safest to send your identification to, after all your personal ID is very valuable and should only be sent to the safest and secure organisations. I have not decided yet but my exit strategy might involve converting the XRP to Bitcoin and then using an exchange with an excellent reputation such as Coinbase to withdraw cash to my bank account but as the previous poster stated it depends on the country of residence. 3 hours ago, scoobysi said: my easy first exit for a small %age of my zerps to cover my in will probably be by converting XRP to GBP on wirex. Not sure what it's like to transfer the £ off it so I'll probably just use it as direct source for paying off some debts or part of mortgage etc. More notable future withdraws I am less worried about planning for now as I believe there will be more fiat pairs with binance etc long before I need that..... if you sell XRP for something else.. and then convert to cash.... aren't you having to pay taxes twice (in the USA at least)? you buy XRP... taxed you sell for BTC..taxed you transfer to cash... taxed 56 minutes ago, TokenBaby said: Don't sell for fiat. Use it as collateral for a crypto-backed fiat loan instead. Use nexo.io and save on taxes, plus keep your $XRP and the upside. can you explain? i don't get it. Link to comment Share on other sites More sharing options...
TokenBaby Posted September 20, 2018 Share Posted September 20, 2018 27 minutes ago, AwesomeCopper said: Too bad they don’t take xrp yet. Seems like an interesting concept. Although it doesn’t state the actual dividend payouts I wonder if it’s better to use this strategy or cash out with long term gain taxes. All cryptos besides their own coin have a 16% apy interest. Capital gains are 15% in my state. I’d do it if the dividens were higher than say 4-5% XRP is coming this year. Arrington XRP Captial is an investor. First dividend payout is also coming this year (this of course depends on how many NEXO tokens you hold). Point is, we will be able to leverage XRP without selling it. AwesomeCopper 1 Link to comment Share on other sites More sharing options...
TokenBaby Posted September 20, 2018 Share Posted September 20, 2018 21 minutes ago, MegaNerd said: can you explain? i don't get it. Research Nexo.io Read this about tax... https://medium.com/nexo/heres-how-nexo-might-help-you-with-your-tax-situation-9614d5323f88 Know that Arrington XRP Captial is an investor. Know that XRP will be added to the platform this year. Point is, we will be able to leverage XRP without selling it. AwesomeCopper and MegaNerd 2 Link to comment Share on other sites More sharing options...
MegaNerd Posted September 20, 2018 Share Posted September 20, 2018 Just now, TokenBaby said: Research Nexo.io Read this about tax... https://medium.com/nexo/heres-how-nexo-might-help-you-with-your-tax-situation-9614d5323f88 Know that Arrington XRP Captial is an investor. Know that XRP will be added to the platform this year. Point is, we will be able to leverage XRP without selling it. STILL DONT GET IT BUT ILL RESEARCH. THANKSSSSSSS Link to comment Share on other sites More sharing options...
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