How to Cash Out Your Moons (Selling MOONs Simply Explained for N00bs)

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How to Cash Out Your Moons (Selling MOONs Simply Explained for N00bs)

Recently I made a few long format posts and people kept asking me to write about cashing out Moons.

First thing first: I don't recommend selling Moons!

However, if you consider shitposting your source of income, let me drop some knowledge.

1. Get your seed phrase from your vault

Get your 12 words seed phrase from your vault:

Vault -> Settings -> Recovery Phrase

Never share this with anyone, ever! If a scammer has it, they'll steal your Moons.

2. Install MetaMask

Install MetaMask from https://metamask.io/download/.

Click "Import Wallet" (not "create new wallet") and paste your seed phrase from step 1 there.

Now you control your Reddit vault address through a MetaMask wallet.

3. Get ETH gas for free

Go to r/CryptoCurrencyMoons and comment "!gas nova" on any post.

This will give you a small amount of Ethereum – sufficient to pay for transaction fees for what we're about to do.

4. Swap Moons to Ether on SushiSwap

Go to https://www.sushi.com/swap and select the network Arbitrum Nova in the top right corner.

Select MOON and ETH and enter the number of Moons you want to sell.

Click swap, and you'll get that much ETH in your wallet.

Pro Tip: There is currently a rule that you must keep 75% of your earned Moons to avoid earning less on the next Moon distributions. So if you have 2000 Moons, don't sell more than 500 unless you're fine with smaller distributions in the future.

5. Bridge your ETH to Arbitrum One

Most exchanges only allow deposits from Arbitrum One and not Arbitrum Nova (where the Moons are).

So in this step, you'll bridge your ETH from Arbitrum Nova to Arbitrum One.

Go to https://www.orbiter.finance/ and do the following:

  1. Select Arbitrum Nova as the network you're bridging from
  2. Select Arbitrum One for the network you're bridging to.

At the end of this step, you will have ETH on Arbitrum One, ready to be sent to your exchange.

6. Send the ETH to your CEX (centralized exchange)

You're probably using one of Kraken, Binance, Coinbase, etc. The process is the same for all.

Click deposit and select ETH. Make sure that the network is Arbitrum One and not Ethereum.

Copy the address (format "0x…") and open MetaMask.

In MetaMask, just click Send, paste the address and select "max" to send all the ETH.

Confirm the transaction and you're done.

7. Sell the ETH for cash

This step needs no explanation.

Just go to your exchange and sell the ETH for the FIAT currency of your choice. Then, withdraw it to your bank account.

Congrats! You made money by shitposting! 🥂

submitted by /u/BusinessBreakfast3
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