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Frequently asked questions

Monero is like every other cryptocurrency, in the sense that its value is a market price, determined by supply and demand on exchanges. Monero's price is also closely tied to the broader crypto market. If the market swells up, then Monero will be buoyed by it, if the market recedes, then the opposite will happen.

You can sell Monero and other cryptocurrencies on a so-called crypto exchange.

A crypto exchange (or cryptocurrency exchange) is a marketplace where buyers and sellers trade cryptocurrencies. Just like regular stock exchanges, a cryptocurrency exchange serves as a middleman who sets the market price at which an equal number of buyers and sellers can be found.

It’s difficult to say with certainty what the future of a given cryptocurrency will be, and Monero is no exception. Those looking to sell Monero should aim to do so when the price is peaking — it is incumbent on the seller to research properly and accept the risk.

Don't miss out on a good selling point and set a yourself price alert.

When selling Monero, you should consider any extra fees that might eat into the amount that you ultimately earn. Exchanges might take away a percentage of each transaction, and you’ll also be liable for tax on the profits you earn. If you have to exchange dollars into your local currency after the sale, this might also incur additional costs, too.

Your exchange will pay you either via a direct bank transfer, or through services like Paypal. You can compare the exchanges and the various payment options through Cryptoradar. Use the filters to narrow the field according to your requirements.

In most territories, cryptocurrencies like Monero are considered digital commodities. You’ll therefore be liable for capital gains tax when you invest in Monero and later come to sell it. Note that just because the coin is untraceable doesn’t mean that you aren’t legally obliged to pay tax on the sale. Moreover, if you have signed up for an exchange, then the tax authorities may well have enough information to identify and charge you. Crypto tax software can help you calculate the tax you owe.

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