Cashing out Lumens or another crypto currency

kg1972

if i am merchant who accepts Lumens as payments, how do i cash out? i.e. get cash in my hand end of day.

bkolobara

kg1972 You would need to exchange the Lumens for USD, EUR, .... and send it to your bank account (or pick up as cash if you are located in Paris and decide to use tempo as your anchor). You can do the exchange directly on the stellar network.

Here you can find a list of all anchors:
https://galactictalk.org/d/14-projects-built-on-stellar

But why would you like to accept Lumens for payment? The stellar network makes it easy to accept any fiat currency directly and there are some anchors with support for CNY, USD, EUR, NGN, ...

Depending on where you are located maybe some of them would work for you.

Nica521

bkolobara How do you use Stellar to transfer to other currencies? I have to make regular payments to my supplier in USD and would be nice to be able to use Stellar.

kg1972

hey thanks for the reply.

bkolobara

Nica521 I assume that your supplier lives in the USA. There is no USD anchor in the USA right now. It would be really great if someone could start one.