Topic: Best way to transfer my BTC into cash? (Read 2262 times)
There is 0.2% (get lowered with more trades) fee on trading so definitely they make quiet a big profit.
I am using kraken, because you don't need to send them photos of ID and such staff. Over SEPA money comes in 2 days, withdraw is only 9 cents.
there isn't a % fee for every withdrawl?
if it's only 9 cents per withdrawl, that's awesome
Yes I had € on my kraken account and was using SEPA withdraw to my TRR and only fee was 0.09€.
I am using kraken, because you don't need to send them photos of ID and such stuff. Over SEPA money comes in 2 days, withdraw is only 9 cents.
Yep Localbitcoin's the easiest way to sell btc => cash, especially if it's a bank transfer. Just make sure to check their feedback and ideally sell to an account that has a phone registered, real name etc
it takes time to arrange something with the trader
it's much faster just to sell on bitstamp, you have your money in seconds..
Did you include the time for the verification process?
Also, some people prefers to prevent all those process as much as possible.
but you only need to get verified once?
Yep Localbitcoin's the easiest way to sell btc => cash, especially if it's a bank transfer. Just make sure to check their feedback and ideally sell to an account that has a phone registered, real name etc
it takes time to arrange something with the trader
it's much faster just to sell on bitstamp, you have your money in seconds..
Did you include the time for the verification process?
Also, some people prefers to prevent all those process as much as possible.
If your based in the United States it really doesn't get much more convenient than coinbase
Yep Localbitcoin's the easiest way to sell btc => cash, especially if it's a bank transfer. Just make sure to check their feedback and ideally sell to an account that has a phone registered, real name etc
it takes time to arrange something with the trader
it's much faster just to sell on bitstamp, you have your money in seconds..
If you made 1 btc per day, how would you cash out without getting caught with taxes.
The best way in my opinion is selling it to a trusted Bitcoin exchanger. I am a member of a buy and sell group catering services such as fund exchanges and one I see most recently is changing its bitcoin funds into a local money via bank deposit.
Use btc-e and wire transfer to your bank.
Yep Localbitcoin's the easiest way to sell btc => cash, especially if it's a bank transfer. Just make sure to check their feedback and ideally sell to an account that has a phone registered, real name etc
Another option would be to use Mycelium local trader, right from the Mycelium Wallet App.
You can even check for the traders without the app installed over here.
You can even check for the traders without the app installed over here.
No PayPal IMO, I have done few deals with PP and the one selling the coins (or anything in general) is the one in the weak situation (that would be you in this case). And no matter what you provide to PP specially in BTC purchases (and most purchases generally IMO) they side with the original sender. Try looking for something else on Localbitcoin (maybe even a Face to face exchange with someone you see trustworthy in a bank or something).
HI,
So to summarize your replies : It is little bit difficult and you are taking a risk when you try to exchange your coins for cash!
There is always a risk factor when you have to trust to someone for something. I will wait for better days for BTC. No ATM in my country.
BR
So to summarize your replies : It is little bit difficult and you are taking a risk when you try to exchange your coins for cash!
There is always a risk factor when you have to trust to someone for something. I will wait for better days for BTC. No ATM in my country.
BR
Pretty much so.
Btw, you could also directly spend bitcoin on products and services, rather than selling your bitcoin for cash and then spend the cash.
There are some escrow in this forum, and maybe you can try them?
HI,
So to summarize your replies : It is little bit difficult and you are taking a risk when you try to exchange your coins for cash!
There is always a risk factor when you have to trust to someone for something. I will wait for better days for BTC. No ATM in my country.
BR
So to summarize your replies : It is little bit difficult and you are taking a risk when you try to exchange your coins for cash!
There is always a risk factor when you have to trust to someone for something. I will wait for better days for BTC. No ATM in my country.
BR
You could accept Paypal if you know the trader has a very good track record. Somebody who has a lot of positive trust and been on here for a couple years. They would most likely charge a small fee though, but you would get that anyway using local bitcoins.
Even this can be very risky. It costs a trader nothing to create a new account and the trading history does not mean very much for most trades IMO coinbase is the best way to move BTC into fiat
You cannot stop trading of an account as they cannot determine whether you changed the ip address and email or is it another person.
You could accept Paypal if you know the trader has a very good track record. Somebody who has a lot of positive trust and been on here for a couple years. They would most likely charge a small fee though, but you would get that anyway using local bitcoins.
Even this can be very risky. It costs a trader nothing to create a new account and the trading history does not mean very much for most trades IMO coinbase is the best way to move BTC into fiat
I`d probably setup ad on localbtcoins.
Setup a cash deposit ad, and your pretty much good to go. Or just finding ad on there that offers the best rate.
Setup a cash deposit ad, and your pretty much good to go. Or just finding ad on there that offers the best rate.
You could accept Paypal if you know the trader has a very good track record. Somebody who has a lot of positive trust and been on here for a couple years. They would most likely charge a small fee though, but you would get that anyway using local bitcoins.
Even this can be very risky. It costs a trader nothing to create a new account and the trading history does not mean very much for most trades IMO coinbase is the best way to move BTC into fiat
Perhaps you guys haven't traded on this forum or other forums before. I've been selling computer hardware online since 2000. If a trader creates a new account, he's back to 0. He will have no trust, no eBay feedback, no Heatware - nothing. Not sure what you meant Harley997
If his account is stolen or sold then his recent trade history would have a pause. Somebody with 150 trust like Canary isn't going to risk his reputation for $300 in Paypal
Some new user with 1 or 2 positive small 0.01BTC transactions would. That's why I said look at the user's history the same you would at your friends. You have friends you would give your house key to and friends you would lend a quarter 
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