Question about withdrawing crypto

davo2015 · May 9, 2021

Hi!

I started crypto mining on my pc for some pocket money but i have a problem. I mine with a program named Nicehash, It's pretty good for newbies like me but I cant withdraw without an ID which is problematic because I'm a minor. I wanted to know if anyone knew some selling cryptocurrency sites which do not require ID verification. Also if I have my bitcoin on my Nicehash wallet, is it possible to transfer it to the site and sell it ? Sorry for these questions I'm pretty new.

Thanks for reading! Any help is appriciated.

Skiiwee29 · May 9, 2021

<-- Moved to Folding@home, Boinc, and Coin Mining -->

Kilrah · May 9, 2021

Pretty much every exchange site will need an ID but you can make your own offline wallet using e.g. Electrum for bitcoin and transfer to that.

tikker · May 9, 2021

3 hours ago, davo2015 said:

I cant withdraw without an ID which is problematic because I'm a minor.

No way around this. They're required by law to verify you.

3 hours ago, davo2015 said:

is it possible to transfer it to the site and sell it ?

Yes, transfer the BTC to what's called an exchange. You can sell it on directly NiceHash. From NiceHash you also have free transfer to Coinbase/Coinbase Pro. This will also require ID verification (not 100% sure about regular Coinbase, but definitely for Coinbase Pro).

You'll have a tough time finding something that'll pay you in fiat without requiring verification. You also may not have enough to justifity or even afford transferring it to somewhere that does (transaction fees). If you want immediate profits convert it to a stablecoin on NiceHash, but in any case I would just hold it until you are no longer a minor and can widthdraw.