2. Your tokens will start vesting at a date mentioned in the contract. Each vesting date represents the point at which point a fraction of the grant tokens are yours in a contractual sense. You do not control them yet, but in some sense you are owed them by the company. (Vesting date)
3. Shortly after the vesting date these tokens will be moved to your PBC account. At this point you fully own and control them. (Control time)
4. You sell the tokens, hopefully for bazillions. (Sell time)
5. You pay roughly half of your bazillions to Skat.
Obviously **nothing in this document is financial advice**. This is meant **to give
an overview of what and how** is needed to cash out. Most of this will also be
relevant if you want to keep an investment in MPC tokens, but I will not be
covering that scenario in-depth. It assumes that you are paying danish taxes.
2 happens directly on Partisia Blockchain, which requires [BYOC
(Bring-Your-Own-Coin)](https://partisiablockchain.gitlab.io/documentation/pbc-fundamentals/byoc/introduction-to-byoc.html) for transferring MPC tokens. There exists several BYOC,
1. Buy [BYOC](https://partisiablockchain.gitlab.io/documentation/pbc-fundamentals/byoc/introduction-to-byoc.html) through exchange or payments processor. Around 40-50 USD worth
2. Transfer to [MetaMask](https://metamask.io/)-accessible account. This can
be either a Ledger Hardware Wallet account visible to [MetaMask](https://metamask.io/), or a [MetaMask](https://metamask.io/)-native account (though I do not recommend the last option, see next section.)
3. Deposit into your MPC account using the [Browser's built-in BYOC bridging
You are now ready for using your Ledger Hardware Wallet for acquiring [BYOC](https://partisiablockchain.gitlab.io/documentation/pbc-fundamentals/byoc/introduction-to-byoc.html) and for transferring MPC Tokens.
Ideally you would be exchanging to fiat currency and withdrawing to bank account at
the same exchange, but not all exchanges allows for fiat withdrawing, and not
all exchanges list MPC pairs, so you might need to do a multi-exchange setup.
In an multi-exchange setup you would exchange MPC for a well established token
(USDC, USDT, EURC, BTC, ETH) at one of the above-mentioned exchanges, and transfer
these to a more reputable exchange like Coinbase or Kraken. A stablecoin might
be preferable as inter-exchange currency, as these (partially) reduce your
exposure to crypto-related volatility, and can possibly ease your tax
documentation burdens.
### Exchange Overview
Includes exchanges where MPC is listed, and top 10 on both [CoinGecko](https://www.coingecko.com/en/exchanges) and [CoinMarketCap](https://coinmarketcap.com/rankings/exchanges/). Information may be outdated, DYOR.
| [Kraken](https://www.kraken.com/) | 🇺🇸 | | [Yes](https://support.kraken.com/hc/en-us/articles/360048656092-How-to-withdraw-funds-from-your-Kraken-account) | Well-regarded and personal favorite. [Low risk of collapse](https://manifold.markets/Base/the-next-crypto-exchange-to-file-fo). |
| [Binance](https://www.binance.com) | prev 🇨🇳 | | [Yes](https://www.binance.com/en/support/faq/how-to-withdraw-eur-from-binance-via-sepa-bank-transfer-fda6235094964faf8084902c8da94687) | Largest crypto exchange after the fall of FTX. [Some risk of collapse](https://manifold.markets/MarcusAbramovitch/will-binance-collapse-before-the-en) |
| [Coinbase](https://www.coinbase.com/) | 🇺🇸 | | [Yes](https://help.coinbase.com/en/coinbase/trading-and-funding/buying-selling-or-converting-crypto/how-do-i-sell-or-cash-out-my-digital-currency) | Second largest exchange, based in San Francisco. Runs USDC and EURC stable coins. [Some risk of collapse](https://manifold.markets/SpencerGreenberg/what-is-the-chance-that-coinbase-go). |
- [Skat på krypto: Kend reglerne, så du undgår et skattesmæk](https://skat.dk/borger/aktier-og-andre-vaerdipapirer/skat-paa-krypto-kend-reglerne-saa-du-undgaar-et-skattesmaek). The official guidelines from Skat for personal taxation.
- [EY: Hvordan beskattes investeringer i kryptovaluta?](https://www.ey.com/da_dk/tax/hvordan-beskattes-investeringer-i-kryptovaluta)
Contrast with a theoretic value of `10000 MPC * (0.4 USDT/MPC) * (0.91 USDT/€) = €3640`, resulting in `€22.535968` lost to fees, and `€3640 * 52% = €1892.8` in taxes, giving you `€3640 - €1892.8 - €22.535968 = €1724.664032`, giving you `0.473809%`.
This section assumes the second tax interpretation above, and makes the case that you should prioritize your personal financial situation over HODLing.