Avoid losing money with bitcoins - page 2.

lyks15

full member

Activity: 546

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It depend on what country where you are. Here in Ph your problem is not a problem. Using coins.ph your problem is not a problem. It is easy to encash your bitcoin. Find some application or site to convert your coin to dollar. But on your age the best thing to do is to divide your cash out transactions diviible by small amount to avoid some transaction hassle.

Oceat

sr. member

Activity: 2506

Merit: 368

Quote from: Dayan1 on April 05, 2019, 11:27:16 PM

Then go on binance, you can save your btc in an exchange and binance is one of the best exchange for volume and market cap. You can do trade whenever you want it could be other coin or btc to usd the usd to btc. By this way you can catch profit through buy and sell

You don't get what OP wants, do you? It's not just OP wants to find a good exchange but he wants to trade his fiat currency to BTC then trade to fiat currency again without affecting the outcome since Bitcoin has volatility. A proper way to trade it is to use USDT to avoid losing some money of it due to the volatility.

Dingdongjl

member

Activity: 196

Merit: 10

I think the question on exchange is cleared on you now.

It doesnt matter if you are under 18 years old as long as you understand how to do it well there are lots of exchange that dont required KYC so there is no need for you to send a selfie and etc. you just need to find one that suites in your country.

PlusOne88

member

Activity: 420

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“Tackling Climate Change Using Blockchain”

I think it is not that simple. We know that each transactions of converting bitcoin to our physical money needs to use the services of an exchange. During any transfer even how simple the miners would use electricity and therefore it is impossible to do it without any expenses. We also know for a fact that when you want something in exchange for another thing is what makes business live. So there is no shortcut to this idea. You have to pay for the service rendered and that is business.

veleten

legendary

Activity: 2016

Merit: 1107

Quote from: dirkdekeizer on March 19, 2019, 01:12:27 PM

Hi

I am wondering if there is some sort of site where you can exchange your bitcoins easily to real money or idk what and transfer back so you can avoid if btc drops.

Thanks

EDIT:

Thanks for all the info.

I am more looking for something like Skrill. You can transfer your normal money in bitcoins and transfer back in normal money.
Sadly you can't withdraw bitcoins so it's just for investing.

I live in Belgium and I am under 18 (but I can use fake identity proof but no selfie etc)

I got around 1 BTC and I am looking for some site where you have like a bitcoin wallet and a normal wallet and that you can transfer money between those wallets

I can't use a bank account

why don't you try local bitcoins?
https://localbitcoins.com/
be careful not to get scammed , read all of the terms and rules carefully
alternatively , use one of the many exchanges posted in this topic
but the vast majority of them wil lrequire you to verify your identity to be able to withdraw fiat money

Carrelmae10

member

Activity: 588

Merit: 10

Quote from: dirkdekeizer on March 19, 2019, 01:12:27 PM

Hi

I am wondering if there is some sort of site where you can exchange your bitcoins easily to real money or idk what and transfer back so you can avoid if btc drops.

Thanks

EDIT:

Thanks for all the info.

I am more looking for something like Skrill. You can transfer your normal money in bitcoins and transfer back in normal money.
Sadly you can't withdraw bitcoins so it's just for investing.

I live in Belgium and I am under 18 (but I can use fake identity proof but no selfie etc)

I got around 1 BTC and I am looking for some site where you have like a bitcoin wallet and a normal wallet and that you can transfer money between those wallets

I can't use a bank account

..this is so called crypto exchange..you can trade your btc earn and convert it into your own fiat money if you want..trade on most popular crypto exchange like Bittrex, Binance, Poloniex..but most of the crypto exchange site needs KYC which means you need to reveal the whole identity of you..so it is better that you use your real name and wait until you reach the age of 18 so that you can have a valid documents in passing kyc..

Teawhalee

copper member

Activity: 482

Merit: 1

there are many exchanges like Kraken, Gemini, Bittrex, and the likes that offers option where you can trade your bitcoins to fiat of USD which helps keep your fund stable without decreasing or increasing. but most of these centralized exchanges usually require KYC of which you are still below 18. somehow you will need to get verified to be able to withdraw in fiat currency. you might need to wait till you turn 18 and then get verified with valid documents.

Daniel91

legendary

Activity: 3374

Merit: 1824

I suggest you try https://www.virwox.com service.
Here you can exchange your bitcoin to the real mony but through their internal exchange service.
In such way you can transfer your cash directly to Paypal and they will not know that this money comes from bitcoin.
It's great service for me

Malsetid

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Activity: 924

Merit: 502

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Quote from: BeGoods on March 23, 2019, 10:05:39 PM

Quote from: dirkdekeizer on March 19, 2019, 01:12:27 PM

Hi

I am wondering if there is some sort of site where you can exchange your bitcoins easily to real money or idk what and transfer back so you can avoid if btc drops.

Thanks

EDIT:

Thanks for all the info.

I am more looking for something like Skrill. You can transfer your normal money in bitcoins and transfer back in normal money.
Sadly you can't withdraw bitcoins so it's just for investing.

I live in Belgium and I am under 18 (but I can use fake identity proof but no selfie etc)

I got around 1 BTC and I am looking for some site where you have like a bitcoin wallet and a normal wallet and that you can transfer money between those wallets

I can't use a bank account

I think there is no such exchange, where you can avoid the fluctuations that exist. all existing exchanges give you facilities to exchange them for fiat and vice versa. of course you can't guarantee you get the same value for that exchange because the price keeps moving

Not an exchange but i think i've come across such a wallet. It's a mobile app called coins and it's basically a wallet for fiat, btc, eth and probably 2 more cryptos. You can easily convert your btc to fiat and vice versa though of course there are fees you have to pay per transaction, but i think that fits the functionality you'e looking for.

BeGoods

legendary

Activity: 1372

Merit: 1008

Quote from: dirkdekeizer on March 19, 2019, 01:12:27 PM

Hi

I am wondering if there is some sort of site where you can exchange your bitcoins easily to real money or idk what and transfer back so you can avoid if btc drops.

Thanks

EDIT:

Thanks for all the info.

I am more looking for something like Skrill. You can transfer your normal money in bitcoins and transfer back in normal money.
Sadly you can't withdraw bitcoins so it's just for investing.

I live in Belgium and I am under 18 (but I can use fake identity proof but no selfie etc)

I got around 1 BTC and I am looking for some site where you have like a bitcoin wallet and a normal wallet and that you can transfer money between those wallets

I can't use a bank account

I think there is no such exchange, where you can avoid the fluctuations that exist. all existing exchanges give you facilities to exchange them for fiat and vice versa. of course you can't guarantee you get the same value for that exchange because the price keeps moving

Babyrica0226

sr. member

Activity: 854

Merit: 252

Quote from: dirkdekeizer on March 19, 2019, 01:12:27 PM

Hi

I am wondering if there is some sort of site where you can exchange your bitcoins easily to real money or idk what and transfer back so you can avoid if btc drops.

Thanks

EDIT:

Thanks for all the info.

I am more looking for something like Skrill. You can transfer your normal money in bitcoins and transfer back in normal money.
Sadly you can't withdraw bitcoins so it's just for investing.

I live in Belgium and I am under 18 (but I can use fake identity proof but no selfie etc)

I got around 1 BTC and I am looking for some site where you have like a bitcoin wallet and a normal wallet and that you can transfer money between those wallets

I can't use a bank account

Most of the centralized exchange are normally asking for personal information to their individual traders by requiring them to submit KYC, for them to withdraw if ever they get profit while doing trade in the market exchange platform. Now if you want to avoid this things you can use decentralized exchange like DEX, forkdelta and coinexchange something like that.

dirkdekeizer

newbie

Activity: 36

Merit: 0

Quote from: ChrisPop on March 23, 2019, 11:33:13 AM

You can hedge your bitcoin value, but you need to be careful at funding. On Bitmex for example you can buy future contracts and sell spot contracts. This way you will protect your value. But you will need to pay or receive a funding fee each 8 hours which can vary. Especially if you are a newbie I don't recommend doing this. I think a crypto debit card would be the best option.

A crypto debit card seems the best solution for me. I think I'll have to wait a few months because I am not 18 yet.

I hope btc won't drop hard

ChrisPop

legendary

Activity: 2310

Merit: 1035

Not your Keys, Not your Bitcoins

You can hedge your bitcoin value, but you need to be careful at funding. On Bitmex for example you can buy future contracts and sell spot contracts. This way you will protect your value. But you will need to pay or receive a funding fee each 8 hours which can vary. Especially if you are a newbie I don't recommend doing this. I think a crypto debit card would be the best option.

dirkdekeizer

newbie

Activity: 36

Merit: 0

Quote from: emberbekas on March 23, 2019, 06:51:38 AM

Quote from: dirkdekeizer on March 19, 2019, 01:12:27 PM

Hi

I am wondering if there is some sort of site where you can exchange your bitcoins easily to real money or idk what and transfer back so you can avoid if btc drops.

Thanks

EDIT:

Thanks for all the info.

I am more looking for something like Skrill. You can transfer your normal money in bitcoins and transfer back in normal money.
Sadly you can't withdraw bitcoins so it's just for investing.

I live in Belgium and I am under 18 (but I can use fake identity proof but no selfie etc)

I got around 1 BTC and I am looking for some site where you have like a bitcoin wallet and a normal wallet and that you can transfer money between those wallets

I can't use a bank account

If you are afraid of the volatility of bitcoin, now you can convert / save your bitcoin into stable coins like USDT. I think, most of the exchanges have included USDT as a coin supported by their exchange. That is the best way so far if we want to avoid volatility but still has coin that we can use in the future for many purposes.

If I convert in USDT, do you think the price will be the same for example in 5 years? Is it really stable or can anything happen

Also, is tether.to the only site where I can have USDT?

aylabadia05

hero member

Activity: 1540

Merit: 772

sorry before in which country do you live?
because members of this forum are different countries, I suggest you use an exchange that supports bitcoin exchanges in your country. like I use Exchange INDODAX which can be exchanged for local money in my country.

izanagi narukami

legendary

Activity: 2030

Merit: 1028

If you decide to invest crypto, you must prepare everything from the start until the worst.
Just consider profit as the bonus !

Luckily I can convert into fiat when my local exchange already exist over 5 years !

kawetsriyanto

legendary

Activity: 2226

Merit: 1086

duelbits.com

You are under 18 but you have this much amount, yeah I mean that 1 BTC is really enough and many.
However, some exchanges may need your selfie photo for verifying your identification, right?
Actually, every country commonly has its first exchange that can enable you to withdraw Bitcoin or other cryptos easily to cash with a certain fee.
However, I think we can still leave some BTC in the exchange because personally, I believe that BTC can rise again.
However, yeah, it will take longer time as we imagine.

Oasisman

hero member

Activity: 2716

Merit: 552

Quote from: dirkdekeizer on March 19, 2019, 01:12:27 PM

Hi

I am wondering if there is some sort of site where you can exchange your bitcoins easily to real money or idk what and transfer back so you can avoid if btc drops.

Thanks

EDIT:

Thanks for all the info.

I am more looking for something like Skrill. You can transfer your normal money in bitcoins and transfer back in normal money.
Sadly you can't withdraw bitcoins so it's just for investing.

I live in Belgium and I am under 18 (but I can use fake identity proof but no selfie etc)

I got around 1 BTC and I am looking for some site where you have like a bitcoin wallet and a normal wallet and that you can transfer money between those wallets

I can't use a bank account

I guess what you meant is, converting fiat currency to Bitcoin instantly to avoid lossing big chunk when the price constantly drop. If you have local exchange in your place, then its much easier for you to do so. Or if not, there are a lot of exchanges in the list just google it and pick the most recommended one.

crzy

full member

Activity: 2128

Merit: 180

Quote from: ?? on ??

you can use many exchange, their have different pair example USDT,CNY,JPY,KRW and many more.
but i dont recomend you safe your balance on exchange for longterm.

Even if we exchange it into good coins it is still hard not to lose money. Staying your precious coins on one exchange is really bad, you have to be secured always. Try to have a positive trade with the coins and if the market dumps try to cut losses and invest again.

The Cryptovator

legendary

Activity: 2394

Merit: 2223

Signature space for rent

Quote from: dirkdekeizer on March 19, 2019, 01:12:27 PM

I got around 1 BTC and I am looking for some site where you have like a bitcoin wallet and a normal wallet and that you can transfer money between those wallets

Sound like you are looking for exchanger. If yes, then you could choose few good exchange like Binance, bittrex or poloniex. So you can convert your bitcoin into USD. But I don't think you can withdrawal USD directly from exchange. If your local bank is not allowing to withdraw then you have to use their party like you said skrill if you want cash. So better choose a best exchange and convert into usd if you are worry about volatility of bitcoin.

Topic: Avoid losing money with bitcoins - page 2. (Read 1039 times)