I bought several ordinals for which there isn't much of a market now. Does anyone know of a website that will buy them for tax purposes, so I lock in losses?
If the only intention is to accept the loss, then there is none really a “buyer of last resort” for ordinals.
Most people do this by putting them in active ordinal marketplaces at a very low price and letting the market clear (or not). If there is no liquidity, that itself is somewhat the point — it shows the loss. There are no sites that will just buy them from you for convenience.
Some users also utilize OTC sales; transferring to another wallet they control only if their tax jurisdiction permits it (many don’t, wash sale rules may apply even in crypto). The usual best move is a legitimate marketplace listing + transaction record, then treatment confirmation with a tax professional.
In short: list them for a low price on a real marketplace, trace everything, don’t depend on “buyback” sites — they are mostly non-existing for ordinals.
Sell it to a friend.
Unfortunately there isn’t a site like harvest.art for Ordinals which buys them at a low price.
Luckily, since the ordinal is inscribed on a Satoshi, you can sell the Bitcoin that the ordinal is inscribed on.
This is what I'd do also. Helps harvest pretty well.
How does one do that?
I actually posted about this on X and a dev has created a tool to buy your inscriptions for 1 sat.
DYOR as I have not done any further diligence after it was recommended.
https://x.com/cryptotaxsucks/status/2001880915300237727
If the only intention is to accept the loss, then there is none really a “buyer of last resort” for ordinals.
Most people do this by putting them in active ordinal marketplaces at a very low price and letting the market clear (or not). If there is no liquidity, that itself is somewhat the point — it shows the loss. There are no sites that will just buy them from you for convenience.
Some users also utilize OTC sales; transferring to another wallet they control only if their tax jurisdiction permits it (many don’t, wash sale rules may apply even in crypto). The usual best move is a legitimate marketplace listing + transaction record, then treatment confirmation with a tax professional.
In short: list them for a low price on a real marketplace, trace everything, don’t depend on “buyback” sites — they are mostly non-existing for ordinals.
You can list them on MagicEden.io
If they are from an active collection there are probably at least a few low offers available you can accept for a quick sale.