Jump to content

Selling Songbird


Recommended Posts

Thinking about selling and withdrawing a portion of my songbird to my bank. How would I go about doing that in the US? I have a Bitrue account, but I'm not sure if they allow US withdraws currently? Hopefully I'm wrong. Any help is greatly appreciated! I was thinking an alternative is going SGB>XRP>uphold(xrp account)> bank.

Thanks!

Link to comment
Share on other sites

13 hours ago, ndon said:

Thinking about selling and withdrawing a portion of my songbird to my bank. How would I go about doing that in the US? I have a Bitrue account, but I'm not sure if they allow US withdraws currently? Hopefully I'm wrong. Any help is greatly appreciated! I was thinking an alternative is going SGB>XRP>uphold(xrp account)> bank.

Thanks!

I'm in California, and have both Binance-US and Bitrue accounts.

I really hate paying fees, so this is how I perform your planned exit action:
(using uphold should work in place of Binance, I cannot attest to that however,
as I don't have an account in that exchange)

  1. Convert my unwanted token on Bitrue to XLM (or in your case with uphold, XRP).
  2. Withdrawal my XLM to my Binance account.
  3. Sell my XLM for USD.
  4. Withdrawal USD via wired transfer to my bank account (I've actually done this).

Be aware, some people have reported delays for any withdrawals over $10k USD, as such transactions will trigger AML rules and such.

Be SURE to account for all your taxable events, to save yourself future misery !!

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.