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#1 2023-06-20 16:40
- Remphan
- Member
- Registered: 2023-01-12
- Posts: 20
Converting BTC to XMR with cake wallet and fees
So recently the people I buy XMR from are stopping me buying it because they are suspect of my purchasing patterns with "privacy coins"
So I can still buy BTC and I see that cake wallet let's me exchange BTC to XMR. Is this efficient and are there any major fees?
Also when I purchase something I assume I need to get the cost of the product in BTC but finish the purchase with the XMR option and hope that the BTC I buy converts to enough XMR to have enough to finalize the purchase?
I do t really wanna pay the 7.5% BTC tax on incog but this whole converting currency thing feels very convoluted and risky.
Any help or providers in NZ that let me buy XMR that isn't easy crypto would be fantastic.
Cheers lads
#2 2023-06-21 10:00
- Remphan
- Member
- Registered: 2023-01-12
- Posts: 20
Re: Converting BTC to XMR with cake wallet and fees
Yeh but should I overbuy BTC just to make sure I end up with enough XMR after converting them to account for fees and costs and shit?
#3 2023-06-21 12:00
- Remphan
- Member
- Registered: 2023-01-12
- Posts: 20
Re: Converting BTC to XMR with cake wallet and fees
Depends on which exchange you use, but as a rule of thumb yes expect to lose a dollar or two.
I was going to use cake wallet which uses changenow I believe.
Is the exchange process instabt or does it take a few hours or a day?