Topic: Best way to turn BTC into Cash (Read 3276 times)

How about buying some solar panels with the BTC that you're earning from mining?

I agree, and would rather go this way, but would like the BTC I mine to pay for the electricity they use.

Withdraw them

I am not sure there is a "best" way, at least without defining what parameters comprise the term "best". There is one way that has not been previously discussed.

Simply buy those things with bitcoins which cannot be directly purchased with fiat, and then resell them for fiat. A perfect example would be ASICminer USB sticks. Purchase a large quantity, and then resell them on ebay. It has the added advantage of allowing you to avoid any governmental interference wherein they claim you are in the business of transmitting funds illegally, and helps to grow the bitcoin ecosystem.

Just a thought.

Well, I've got a Coinbase account, but I don't plan on buying enough bitcoins to bother with dollar cost averaging.  I'm thinking of just getting 10 BTC total, for that amount, it's easy enough to just do it manually. 

In that case you'd be best setting up a Coinbase account and configuring automatic buying so that you get the benefit of dollar cost averaging.

Thanks for the heads up, this is really good information.  I try to buy bitcoins when the price is going down so that I can get them at a relative discount.  I figure since it's volatile, I may as well take advantage of the volatility to get a better price since I'm in no hurry to get them.

While the price is stable or decreasing CampBX via Dwolla is going to be cheapest way to buy Bitcoins unless you can find someone in your area selling them under spot on LocalBitcoins.

When the price is going up quickly like it was in February-April of this year Coinbase becomes the least expensive because of how they lock in the price for you at the start of the transaction.

I live in a fairly small town (of 30,000 people) in California and I was actually surprised to find when I looked up localbitcoins that there is someone selling bitcoins only a couple blocks from where I live.  So if you're talking about actually doing business - yes, there aren't very many of them yet.  But as far as actually buying bitcoins in person, no, LA is definitely not the only option for this.

Just started using CampBX after reading this thread and I think I'm a convert.  I used to be using Coinbase to buy bitcoins but this is substantially cheaper, and I don't need all the merchant tools that Coinbase offers.  It's not quite as simple as Coinbase is, but I like not having to pay the 1% fee and it doesn't appear that complex.  (Yet - I haven't actually bought any yet with CampBX, but the process doesn't look that complicated.)

All I gotta say is where the frick is fc4b

142 USD for bitcoin? Is this a joke?

I would prefer WMX to WMZ. it is the easiest but don't know about the cheapness.

try bitcoins2paypal

I haven't used it but you may want to check out Gyft.com

does anyone have a good reliable site to turn bitcoins into a prepaid card?

By far the easiest way I've found (and the cheapest), is to sell them to friends. A lot of people want Bitcoins, but don't know how or where to get them, or they're too lazy to go through with it.

I know this is not cash but a pre-paid online credit card:
https://cryptcard.org/

I think the fee is about $1 to $7, depending on amount.

Bitcoin-Brokers is offering the Bitcoin community the ability to sell their bitcoins at current MtGox rates and receive cash deposits into their own personal bank accounts.

Starting immediately if you bank at any of the following banks, you can sell your bitcoins for 0% fees and receive 100% of the proceeds from the sale of your bitcoins as a cash deposit into your personal bank account.

-Bank of America
-Capital One
-Citigroup
-JPMorgan Chase
-PNC Financial
-SunTrust
-TD Bank
-US Bancorp
-Wells Fargo

This exciting new service will allow sellers of bitcoins to list their bitcoins for sale on our website and have the buyers make cash deposits into their personal bank account.
 
Prior to the buyer receiving the bitcoins, the seller will:

-be able to verify via online banking that there has been a cash deposit made into their account for the correct amount.
-receive a scanned copy of the actual deposit slip used during the deposit transaction.
-receive a scanned copy of the business card of the bank employee who accepted the deposit who can be contacted to verify the deposit.

This new service is initially only offered to residents in the USA, though other countries will be rolled out soon.

There are no maximum sized orders, and sellers can test the service with orders as small as $10.

www.Bitcoin-Brokers.org

Try bitfinex only $10 bank wire fee