Advice time
Say that I want to cashout a (minor) amount of my Dash coming from my nodes into
Right now, this process is extremely long and costs a lot. The best option looks like:
- I move my Dash from my wallet to an exchange, i.e. Polo
- I buy BTCs
- I move these BTCs to an exchange that operates in , i.e. 247exchange (best option IMHO right now for )
- I buy
- I Cashout
All the above passages cost some money, in some cases actually a huge % that makes absolutely suboptimal to change less than 1K (and even there it's bad).
Am I missing something? Is there a better way?
Also, what about FIAT gateways project?
Thanks in advance
You can take the step of the exchange out. There are wallets with shapeshift integration that can convert Dash to BTC easily. Personally, I like a mobile wallet like Coinomi (android) so I can trade when prices change. Plus you can scan a QR code when sending to a btc to fiat processor instead of copying and pasting. The Exodus wallet is available for your desktop and is really easy to use. Jaxx also has the exchange option. It will be adding dash soon and could be the first iphone dash wallet on the app store.
You can also use bitsquare which is a decentralized exchange. You can exchange dash to btc and to fiat in small amounts. The exchange rates don't look very good, but it is an option.
Hey Solarminer, maybe you can answer this; I installed the Exodus wallet the other day on my desktop. But it doesn't appear to have any security settings other than when backing up a wallet? I thought there would be an option to set a password and encrypt the private key, but I couldn't find such an option. Have you used the Ecodus wallet? Do you know if such a feature exists? I only have a few mbit in the wallet but it seems insecure if the funds are just sitting there, without any passwords. I have yet to send anything with the Exodus wallet so maybe I am missing something obvious.