Would you say that's generally ok from a privacy perspective?
Also how does that work with taxes? I don't know much about stable coins but I assume as long as the "price" of USDC is the same when you send it elsewhere, they shouldn't try to slap capital gains on you right?
Replies (3)
You don't get taxed for buying. You get taxed for selling. Therefore, I do not make sales on Coinbase at all ever. The way I see it, once Fiat goes into Monero, it does not come back out unless it's in the peer-to-peer economy. So I am very fiat poor with just enough to have some pocket money, but no more.
As far as the privacy goes, I send the USDC out of Coinbase to my own personal wallet and then send it immediately to a swap service. So if they trace it, they will see it goes from Coinbase to me, and then directly to one of the known swap services. I suspect they will be able to know how much I got from the swap service in Monero, but then the trail would go cold.
I have to decide if that's acceptable in my threat model but that sounds reasonable enough to me. Thanks for the insight, this is all great info ദ്ദി(˵ •̀ ᴗ - ˵ ) ✧
