Cashing out your tokens
The price of Minds token is going to the moon, so let me share with you my recent cashing-out experience, in case you also want to cash in your stack. TL.DR.: mildly complicated and expensive. Mildly complicated You need to be a basic crypto user. By this I mean you need to have an account on an exchange of your choice where you can buy ETH to cover all of the Ethereum transactions, and where you can later cash in your profits. You also need to have a Metamask wallet and understand how to perform basic Ethereum transactions. 1. Load up your wallet with ETH to cover transaction fees. 2. Here's a step-by-step guide on how to withdraw tokens from Minds to your metamask wallet: https://www.minds.com/minds/blog/how-to-transfer-minds-on-chain-1218449386552053760 3. Once you have tokens in your wallet you need to swap them to ETH on Uniswap: https://www.minds.com/minds/blog/minds-is-now-listed-on-uniswap-here-s-what-it-means-1221912862054379520 4. Deposit the ETH you get back into your exchange account and hodl or exchange it for the currency of your choice. Expensive You need money to afford Minds+ (5$ per month) and all of the necessary Ethereum transaction fees. Personally, I spent ~114$ (~0.036 ETH): 11.5$ - to top off my metamask with eth for transactions. Better to send in at least 150$ worth of ETH so you didn't have to do it again if something goes wrong. 74.79$ - to cash out my tokens from Minds to my wallet. 7,08$ to give uniswap the permission to interact with my Minds tokens(1 time only) 17.5$ - to swap my Minds tokens for ETH. 3.2$ - to deposit my new ETH into my exchange where I can cash it out. It might cost you a bit less, or a bit more, but probably not by much. Make sure you have enough tokens to be worth spending all of these fees. You can also pool with someone you trust and cash out together to split the fee, but this is very risky, as you won't be able to get your tokens or crypto back if someone tricks you. As tempting as cashing out tokens might seem, at the moment it's too costly for a regular user and isn't worth it, unless you collected a big stack or regularly earning a lot of them. Alternatively, you can simply hodl your tokens. Who knows, they might eventually cost even more, while the fees might actually go down. You can also just use them by tipping people you like or who were useful to you ;) Some people even accept them as payment for art commissions or something that they've created. For example, you can buy a digital copy of my Lovecraftian anthology of illustrated creepy short stories Welcome to Shipsgrave for 10 tokens https://www.minds.com/newsfeed/1270368571532251147?referrer=hollowowlcomics Just simply wire them to me, and I'll send you the file through Chat. Yes, this was a well-placed ad :) Thank you for reading, and I hope this was useful to you.