Avoid losing money with bitcoins - page 3.

emberbekas

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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.

shoreno

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Quote from: xvids on March 23, 2019, 05:27:53 AM

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

~ snip ~

I don't quite get it if you are asking for a place where you could easily convert your BTC into Fiat then you should use an exchange or trading platform.
But if you are asking about a site where you could convert your BTC into cash wothout using a bank then I think you should look for a local wallet, Just like our local wallet here in the Philippines which is called "coins.ph"
We could use it to convert BTC into cash or the other way around cash out and cash in BTC in many ways, But you also have to send a valid ID and do the selfie to verify your account.
And you could always look for a friend who would buy your crypto in cash if you want.

The coins.ph that you are talking about is only available in the philippines and i see that op is from belgium . he cant use coins.ph but he can still use other wallets out there , like blockchain.com for example and if im not mistaken , blockchain.com dont ask for id upon signing up although you may need an i.d when cadhing out larger amount of cash or cryptos . electrum is also a good wallet that didnt ask for i.d verfication .

xvids

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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 don't quite get it if you are asking for a place where you could easily convert your BTC into Fiat then you should use an exchange or trading platform.
But if you are asking about a site where you could convert your BTC into cash wothout using a bank then I think you should look for a local wallet, Just like our local wallet here in the Philippines which is called "coins.ph"
We could use it to convert BTC into cash or the other way around cash out and cash in BTC in many ways, But you also have to send a valid ID and do the selfie to verify your account.
And you could always look for a friend who would buy your crypto in cash if you want.

OlympianBitcoin

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Honestly, wouldn't that be better for the OP if he just hodls the Bitcoin? Unless he is really afraid the price is gonna drop and die... but I wouldn't really think so. Unless he *needs* money and it's a dire need, not for comfort? Then it's a different thing entirely.
Well, I guess he can always try Bisq.

dirkdekeizer

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Quote from: adzino on March 22, 2019, 03:28:26 PM

How about using an exchange? When the price falls, there is no way you can convert it instantly, but you can use an exchange to convert your coins to USDT (I don't support USDT though. You should do your own research and determine if its okay to convert to usdt or not). But, just keep in mind that keeping huge amount of money on an exchange wallet is never safe. The exchange might get hacked anytime and you might lose all your coins.

My issue is that I can't trade it for like a bank transfer. I have no idea for what I could sell the bitcoins, I am under 18. I can't use a bank account, PayPal, Skrill

I thought wirex got something but you need to be 18 (with selfie proof)

adzino

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How about using an exchange? When the price falls, there is no way you can convert it instantly, but you can use an exchange to convert your coins to USDT (I don't support USDT though. You should do your own research and determine if its okay to convert to usdt or not). But, just keep in mind that keeping huge amount of money on an exchange wallet is never safe. The exchange might get hacked anytime and you might lose all your coins.

Indamuck

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Quote from: eann014 on March 20, 2019, 11:01:55 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

It is easy to exchange your bitcoin into real money, there are already a lot of sites that can offer that and even some of the bitcoin wallets now can offer us that. And what do you mean from transferring back to avoid if btc drops? Do you mean transferring back your real money to btc? If you need to transfer your money back to btc, there is no way to do that, you need to buy another set of your bitcoin again.

You can even find many buyers and sellers right here on this forum in the currency exchange section. If you find trusted members you are completely safe sending first. Then you will end up paying less fees as well considering how much exchanges charge for trading and the withdraw fee.

r1s2g3

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The best idea is to convert your BTC into a stable coin like USDT. It is good and recommended practice that you should not keep your coins in exchange so withdraw them to your own wallet.
Converting BTC into fiat and again converting fiat to BTC should be avoided if you want to keep invested in BTC.

michellee

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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

You need to go to localbitcoin and find recommended sellers so you can exchange your bitcoin and ask him to send the money to your bank account. That is the only way you can do to convert the bitcoin directly, and I think you don't have to wait for a long time. But there will be an easy way if you can find a local seller which you already know, so you only need to send the bitcoin to him, and he will send the money to your bank account. That will be a simple way for every people who want to convert the bitcoin to real money.

joeperry

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Most of the major exchange site are offering this kind of exchange which is the USDT. So what is USDT?

According to 99bitcoins.com: "Tether is something of a hybrid. It’s a cryptocurrency that a government has declared to be legal tender, but is not backed by a physical commodity. For example the US dollar, the Euro and almost any other country related currency you can think of. "Fiat" “stablecoin.” Its value is pegged or rather, tethered—to the value of fiat currencies.

USD₮ is the currency that Tether most frequently uses. Tether has been pegged as being equal to the world’s official reserve currency: the US Dollar. More specifically, 1 USD₮ is intended to remain exactly equal to $1—not a cent more or less. It’s basically a crypto dollar"

So if you really afraid of the volatility of the market then you should immediately exchange your cryptos to USDT and if you're ready to take risk again then buy a crypto using the USDT again.

proTECH77

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My contribution will be base on the subject; Newbies are to be mindful of losing money invested into bitcoin without proper individual research, and also, they are not encourage to get involve in trade because trade involve skills to avoid looses at the end. But, there must be lose before gains even in the real world, so, invest what you can afford to loose, if luck on your part, then gain more.

gilangIDR

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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

There are many exchanges that provide these services, you can use international services and even many services in your country. Bitcoin is now very easy to access and use, the willingness and curiosity about using Bitcoin is good which will determine whether we are comfortable using Bitcoin or not. Changing Bitcoin to FIAT currency is easy and only requires a few steps depending on the regulations in the exchange.

baghdatis1990

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Of course there is such a thing. There are many exchanges that offer you the opportunity to change your BTC in USD and withdraw it on your card. It is logical that an investor who invests in cryptomones will have the opportunity to withdraw their investments sometime. I recommend a well-known exchange that also has a light user interface. This is https://www.binance.com. It is the most known exchange today and many investors use it. Good luck!

eann014

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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

It is easy to exchange your bitcoin into real money, there are already a lot of sites that can offer that and even some of the bitcoin wallets now can offer us that. And what do you mean from transferring back to avoid if btc drops? Do you mean transferring back your real money to btc? If you need to transfer your money back to btc, there is no way to do that, you need to buy another set of your bitcoin again.

teejayrichard2

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I don't know of any site where you can exchange crypto to fiat with ease but I know an app which I have been using for so long in exchanging my Cryptos to Fiat and fiat to cryptos. Am talking about the luno app. Its an app you can use with ease as they credit your bank account with ease. Go to app store and download it from there and use it with ease.

hahay

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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

I don't understand what you want, basically if you want exchange bitcoin to real money then as soon as you sell bitcoin to real money and then the transaction will be finished soon. But, what do you want or do you mean it might be trading without wanting to lose? Any form of loss will definitely occur and if you continue to be afraid to lose, you will never be able to learn every mistake and you will be difficult to make a profit.

qwertyup23

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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

Check your local exchange platform if they have this option. Fortunately, our platform offers conversion from bitcoin to fiat or the other and also various services where you can use your bitcoins to pay online stuff or game credits.

Quote from: Kakmakr on March 20, 2019, 01:25:31 AM

Just remember one thing, if you sell your bitcoins for fiat, it gives you a fiat balance on the local exchange database and it is not fiat until you withdraw it to your Bank account. We always warn people not to store large amounts of bitcoins on exchanges, but we forget that they also hold large fiat balances on these exchanges. Wink

Some more experienced traders use bots to trade for them, to reduce the possibility that they would loose money on their Crypto trading. Wink

This is actually very informative. You need to be wary of banks as they often question your deposits and the origin from where it came from. I know someone who cannot fully withdraw his cash since the banks froze his account due to potential money laundering schemes.

dirkdekeizer

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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

Johnzky

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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

Most of the exchanges offers this feature so theres no questions abiut that,the real question is when will you be needing to exchange the bitcoin because crypto is volatile,it may drop in a minute and grows in the next.this is the major problem of each investos the right timing when to enter and when to go out

samcrypto

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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

Its possible if some good exchanges available in your country. Here in my place we can easily convert cryptos to fiat money but you have to monitor the market as well. You can uses some application where you can monitor your coins, blockfolio is great.

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