**Sorry mods!! noob mistake, please forgive me. I Edited my post to remove references to any other coin. Mods please delete if this
still not ok.
Why would someone swap their BTC to an intermediary coin before cashing out to U.S. dollars?
It seems counterproductive and will introduce another taxable transaction as well as potentially reveal both the starting address and the ending address, there for making a more solid connection between the user and therefore reducing privacy.
Direct BTC sale
BTC → USD
One taxable disposition
BTC through an intermediary
BTC → (intermediate coin) → USD
Two taxable dispositions
But back to my original question, why swap at all if the exchange can accept both BTC & the other crypto currency i want to swap?
Positives and negatives are most welcome.
I am really trying to learn about the cryptospace.
Thank you kindly.
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