Bitcoin Forum

My question is I have XMR on MyMonero.Com

I am wanting to trade it back into BTC. When I initially was planning on doing it I was planing to use ShapeShift, but decided to research this more because I received the following message and it made me second guess myself so I wanted to check with the experts that know the ins and outs of cryptocurrency more so than myself. The last thing I would want is to get completely wiped out and have someone steal all of my monero that I have just from some stupid mistake.

I have looked for several hours and cannot find any threads that bring this specific thing up, if there are and I missed them, I apologize.

I was initially going to use changelly but just want to wait and do this 100% correctly

If someone would be willing to give me step by step instructions I would be willing to give you a `% portion of my current holdings if all goes well. (which would be at the current time is close to $100) for your time and expertise.

Please, if you aren't known on here, don't try to pull a quick scam on me. I have been reading this forum since 2012.

Thanks so much for your time. I look forward to hearing from you. And yes, I am true to my word. I have already lost $500 and that's a whole other story of how complicated I am making things for myself.

Here's the exact message I was getting at shapeshift.

WARNING: If you enter a Monero refund address, DO NOT use an address from an exchange or shared wallet that requires a payment ID. Only use a refund address from a wallet you control, which doesn't require a payment ID.

Take a look here, https://www.reddit.com/r/Monero/comments/6qb5xr/help_please_somebody_help_me/, it states that a refund adress isn't necessarily at all in the first place.

I'm guessing that if you add a refund adress which asks for a payment ID you will somehow crash/interrupt their system.





So, it's indeed mostly exchanges that use these so they can differentiate/identify where the money came from.  ( When there's lots of anon tx's to 1 adress etc.)

I'm guessing that any normal desktop wallet won't have this enabled by default. (?)

any reason not to use exchange in a trade platform? instead of automatic/instant exchange like ShapeShift or Changelly
deposit your XMR, place sell order XMR<>BTC at your rate, and withdraw to whatever BTC wallet you have

You control MyMonero wallet. And it uses integrated address.   You can freely use shapeshift with it.  There are few more similar services, but if you are most familiar with shapeshift use it.

Hi mate
With regards to that message you got around the payment ID, if you go to any exchange that accepts Monero you can just go to deposit Monero then it will generate a payment ID for you. This payment ID stays valid forever.

MAKE SURE YOU DOUBLE CHECK THE ADDRESS AND PAYMENT ID !

You can then just send your monero over to the exchange and sell it for BTC. If you are using a command line wallet:
1. run the CMD and get the blockchain downloaded
2. Open you wallet and wait for it to sync
3. type in "save" on both the cmd and wallet so you dont have to wait long next time
4. type in "transfer" <public address> <Amount> <payment ID>
   
    The syntax i gave on .4 might be the wrong way around but it wont let you transfer to a payment ID so you can type in "help" to confirm the syntax, if it stops you then just switch it around - you can check vids for electroneum wallet CLI transfers too, its a monero fork so the same will work (ofc make sure to use monero wallets and stuff then dont download electroneum wallets and send your monero there)

5. "type in show_transfers" in the wallet CLI to see the transfer and if it has cleared
6. wait about 5-20 minutes and it should be cleared :)

Hope the above helps you. If you have your private keys then you can just download the wallet CLI. Make sure you are getting the correct one - I wont be pasting the link here as I myself dont trust any links people share on bitcointalk :)

cheers

thank you guys so much for all of your helpful responses. i am *thinking* that i know what to do, but again am not 100% certain.

the major question i have is if i use one of these platforms such as shapeshift or changelly is it possible someone (such as a hacker or someone that i'm not authorizing could completely wipe out the entire rest of my wallet? it says the max transfer i can do for 1 transaction is only about 40% of what i have in my entire monero wallet.

TLDR

i guess what i'm asking is if someone has any of my wallet information will that potentially compromise my entire wallet?


thanks again for everyone being so helpful.

I'm using changelly to exchange ethereum to other altcoin i stop using shapeshift due to lots of issue and problem about shapeshift but about hacking or authorization to your account i think they only exchange the amount you wanted to exchange and they are no longer access your wallet because they had no any control of your wallet just make sure to always backup your private keys that you can recover to other wallet..

about the warning message from shapeshift you should use the address which is you fully control or you have the private key save anywhere in your pc or written on the paper. .
You can use the open source wallet from their official website here https://getmonero.org/downloads/
This wallet only is for your refund address..

Why not selling your XMR instead in current price in trusted exchanges like poloniex or bittrex or any exchanges support XMR to bitcoin. .