Selling Songbird

[ndon]

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!

[JASCoder]

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 !!

[ndon]

Really appreciate your response sir, thank you!