It might also be a good way to find yourself becoming a victim of a $5 wrench attack. If it was just for a few hundred bucks, then okay that may be a cool way to trade bitcoin, but I wouldn't take this risk for anything over a couple grand. YMMV.
I guess I'm kinda skeptical about informing complete strangest that I own bitcoin. Other than my immediate family and few very close friends, the only people who know I'm into bitcoin are you lot.
There are a number of methods you can use to trade bitcoin in person for cash while still maintaining your privacy and security. I've done a number of trades with complete strangers which have gone smoothly.
- Only trade with someone in person who has a history of numerous trades and plenty of positive feedback.
- There is no requirement to share any personal details with them whatsoever. Simply pick a time and place to meet, and some sort of physically identifying information (I'll be wearing a blue Yankees cap, for example).
- Meet in a public place with plenty of other people around. You can also go for somewhere with lots of CCTV if you like such as a big shopping mall or a major travel hub (such as an airport). You can also meet directly outside a bank which either the BTC buyer can withdraw cash from immediately prior to the trade, or the BTC seller can deposit cash to immediately after the trade. Doing this eliminates the risk of counterfeit bills.
- Bring a friend with you. If legal in your jurisdiction, bring something for self defense.
- Only take with you the exact amount needed to complete the trade, be it in fiat or BTC.
Trading in an airport, past security would help with protection from theft from your trading partner, but might risk theft from the government (via asset forfeiture) if you are dealing with large amounts.
Other than trading in an airport (past security), there will always be the risk that the other party claims to have a gun in his pocket that is being pointed at you if you don't comply. To any bystander, or any CCTV camera, the interaction will be nothing more than two people talking. In this case, even a weapon of your own will not do much to protect you if you don't want to risk getting shot in the process.
My suggestion to the OP is to wire money to coinbase as opposed to sending it via ACH. This will speed up the time the funds will be available for withdrawal. Other than my suggestion, there is really not much that can be done to speed up funds availability without sacrificing cost, an ATM for example will take a (usually large) spread or fee.
