How To Cash Out UST From Anchor to Bank Account (Fiat Off Ramp)

In this video, I show how I'm converting my UST from Anchor to cash in my bank account. This is the cheapest way I've found and is geared towards U.S. based users. Let me know what you think in the comments!

***Stuff I use***

0:00 Intro
0:23 Summary of UST to USD process
1:10 Step 1: Transfer UST to Kucoin
3:04 Step 2: Swap UST to USDT
4:17 Step 3: Swap USDT to XLM
6:02 Step 4: Transfer XLM to Coinbase
7:42 Step 5: Sell XLM for USD
8:43 Outro

#TerraUSD #UST #Anchor

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[joepiloto]

Been doing the opposite for on-ramping. Great video. Have not off-ramped yet but this looks simple once you understand the steps. XLM is essentially feeless except for how the market moves during the transfer. Other ERC modes charge - which I just want to avoid. XLM uses a “memo” which essentially is like having a second set of keys for the transaction. If you don’t put it in the transfer could get lost to you.

[jman]

good video.. USA user focused. why XLM involved ( just because of trade fee) ..well done

[penguinman]

Hello. I would like to ask if i can still transfer UST from bitstamp to kucoin, and convert like you did. Thanks

[ADAMREES-GRITGYM]

Thanks for doing this. How has it worked for you going from CB->Bank? And have you tried FTX instead of CB?

[LuisGuerreroGera]

Hi. In Coinbase ( desktop ) when I want to send the XLM from Kucoin to Coinbase it tells me I need the address and memo. But no where do I see where to put the memo to receive XLM? Im stuck

[mustafakemalozkan]

can we do the opposite the same way? transferring ust to terra station? And do you think the fees would be very cheap with larger amounts (above 10k) as well? Thanks by the way this is really helpful. Last question, i could not find USA in the countries section when I tried to open an account in kucoin. Is that ok to select "other countries"?