There isn’t much interesting discussion on this forum, so I’m going to create one:
assume you have $100,000 in cash — how would you convert all of it into Monero (XMR) without any KYC? Discuss your plan in terms of time, fees, and feasibility.
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Assume you have 100K USD. How would you convert it entirely into XMR?
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I'll start with a standard answer: I might buy large amounts of prepaid credit/top-up cards and convert them to XMR. I'd post many listings on forums and bazaars; when a buyer appears I'd purchase the corresponding number of cards. It might take about a year. Fees are typically 5%–15%, depending on your business strategy. Feasibility is fairly high.
10K or 100K? Well, no one can give you any tax, legal or financial advice.
What you could do is buy gold and silver from store IRL and then sell it to a company like Veldt Gold. It shouldn't be a problem to do 10K in a year in a safe way because they are a company and allow no KYC up to some amount like that. That's basically like 2 gold coins, so not sure how that is a problem but you'd have to ask them.
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@monerica Sorry my title was wrong, it's 100K. By "convert" I don't just mean a simple "exchange" solution. For example, another idea I have is to use the $100K to buy a large number of Bitcoin miners plus solar power equipment, then convert the proceeds into Monero (XMR). By "convert" I mean any plan that can utilize and transform it.
You could buy some other coin that has staking and use the staking rewards to buy Monero.
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Become comfortable (using smaller amounts first) with a cash by mail XMR seller or two on retoswap and then gradually send $10-15000 cash at at a time.
the 'buy another coin then swap' answer skips over the 'no kyc' requirement tho
plus the question says USD, so I'm assuming the answer should be 'from the perspective of someone based in the USA and abiding by the limits imposed by US laws'
regular cash by mail and face to face transactions would be one facet.
flipping prepaid cards is tough when you're starting and have no rep, imo, but you could build that up slowly.
I like the idea of investing in solar power and setting up a mining rig.
you could probably set up your own hardware to the point of having your own website, blog, or smthn else to participate in the circular economy, in which you could explore other avenues to earn monero.
but the key is to explore many routes slowly and steadily, building up your connections until you can gradually deal in larger denominations, and then one day that 100k will be all xmr xD
I'm curious about buying gold or other goods and exchanging that for xmr somehow. is gold safe to mail I wonder ?
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@avarice regarding the gold, a user on X said they have sold metal to Veldt Gold for Monero. Ideally you have some insurance on it and the shipping label doesn't say something like "gold store". Most places you buy gold from online will use some other kind of shipping address/ name. Just ask them on the details.
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- Use it for everyday stuff like groceries and gas. Buy physical gift card for things you need, or resell online.
- P2P cash by mail to Monero.
- Buy gold/silver and keep it, or resell online P2P by mail to Monero.
- Buy a generator and a lot of gas, and use the generated electricity to mine Monero.
- Burn it to help reduce inflation.