Topic: Bitcoin To Cash Rate? (Read 861 times)
Buyers/Sellers mainly check the localbitcoin rate and bid their price as per the website. Here people just quote their own individual rate like 5%-10%. Usually people have a 1:1 transaction and hence for $1000, you will get $1000 worth BTC.
I haven't tried Bitcoin to cash yet, by the way why do you prefer cash rather than exchange, it is very safe and secure to do the trading, and the commissions are very few, perhaps you might have some personal views in your bank.
I suppose the reason to that would be that not everyone prefers to reveal their personal information like bank accounts while purchasing bitcoin which a lot of people consider to be anonymous.
I haven't tried Bitcoin to cash yet, by the way why do you prefer cash rather than exchange, it is very safe and secure to do the trading, and the commissions are very few, perhaps you might have some personal views in your bank.
It is more safe for you to fund your account with a reputable bitcoin exchange and buy your bitcoin rather carrying the cash around because it is risky.
You'd have to be careful with carrying cash around as you could get mugged or robbed. I would guess a 5 to 10% markup on the bitcoin exchange rate is standard. Could be more depending on a number of variables.
It all depends on the buyer and the amount. But its generally around 5-10% more depending on the location of the buyer and the amount he is buying. Most people do atleast 200$ for btc to cash.
Assuming you want to trade BTC for cash, what is the rate going to be generally speaking? Such as $1000 btc would be worth how much cash? I believe BTC is at least worth the usd cash amount right? And thus there are people that would be offering 2-3% thus $1030 for $1000 worth of btc? Also, I'm curious what is the minimum people usually do for btc to cash transactions. I believe most don't bother if the amount is low since it involves meeting someone up etc.
When you are BUYING BTC, then the amount of USD or other cash will be higher than the bitcoins worth (like if 1 BTC worth $240, then they would traded for 260-270) and if you SELL BTC, then the cash amount would be $210-230.Also I think that the minimum amount won't be low, it should be at least 100 USD worth I think (as OP stated that it involves meeting) and the seller/buyer needs time and cost (like transportation cost) to buy bitcoins with cash face-to-face.
i would say up to 10% more per btc, so $25 x 4 on a total value of 1k usd, which is 1100 total
but you can only do this in real life, and i don't like it too much, there are some cases of a naive traders that was robbed or arrested ecc...
but you can only do this in real life, and i don't like it too much, there are some cases of a naive traders that was robbed or arrested ecc...
Assuming you want to trade BTC for cash, what is the rate going to be generally speaking? Such as $1000 btc would be worth how much cash? I believe BTC is at least worth the usd cash amount right? And thus there are people that would be offering 2-3% thus $1030 for $1000 worth of btc? Also, I'm curious what is the minimum people usually do for btc to cash transactions. I believe most don't bother if the amount is low since it involves meeting someone up etc.
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