https://localbitcoins.com
How about this site?
I tried once or twice.
Topic: Converting Bitcoins into hard cash (Read 9858 times)
I will buy your bitcoins
PM me so we can make a deal, no BS
PM me so we can make a deal, no BS
Hi,
I just discovered Bitcoin about a week ago and have been mining since
There is one big problem for me though (and many other people too). How do I get my Bitcoins converted into my native currency?
A lot of the ways of doing this seem to be tied to the US. I'm in South Africa, and there appears to be no easy way to do this.
So far, one of the most promising approaches appears to be converting Bitcoins into a Payoneer Debit card refill. However, thus far I have found no way to get a Payoneer card that isn't tied to a specific vendor's product.
The only other way seems to be: MtGox -> Liberty Reserve (some say this is dodgy?) -> Paypal (even more problems I read) -> SA Bank account.
This path introduces many..many fees.
Am I missing something here?
I just discovered Bitcoin about a week ago and have been mining since
There is one big problem for me though (and many other people too). How do I get my Bitcoins converted into my native currency?
A lot of the ways of doing this seem to be tied to the US. I'm in South Africa, and there appears to be no easy way to do this.
So far, one of the most promising approaches appears to be converting Bitcoins into a Payoneer Debit card refill. However, thus far I have found no way to get a Payoneer card that isn't tied to a specific vendor's product.
The only other way seems to be: MtGox -> Liberty Reserve (some say this is dodgy?) -> Paypal (even more problems I read) -> SA Bank account.
This path introduces many..many fees.
Am I missing something here?
Liberty Reserve is DEAD .. you should have read up first about LR
If you want to convert Bitcoins into hard cash picked up at MoneyGram then visit www.Bitcoin-Brokers.org
Hey that article says that Okpay gets its cards through Cyprus, so how many bitcoin debit carders just got fucked? Any?
It isn't a local exchange, but https://bitmarket.eu/ allows trading of BTC for ZAR 
I feel your pain FaT, for a long time I had the same problem here in Canada.
Until a local exchange (virtex) started up there was really no easy way to exchange bitcoin for real dollars in your bank account. (or at least nothing that wasn't prohibitively expensive.)
Keep checking for a local SA exchange to pop up, or start making some connections and get one started! (legal help with that would be strongly advised
Until a local exchange (virtex) started up there was really no easy way to exchange bitcoin for real dollars in your bank account. (or at least nothing that wasn't prohibitively expensive.)
Keep checking for a local SA exchange to pop up, or start making some connections and get one started! (legal help with that would be strongly advised
This is the system I am using:
Selling coins on tradehill.com which turns in to usd in my tradehill account.
Send the usd from my tradehill account to my dwolla account for $0.25 fee.
Send from my dwolla account to my bank's checking account.
It takes a few days to verify your bank account with dwolla but that's a one time deal.
Also note that it takes 1-3 days to get the money from dwolla to your bank account but I think you'll run in to that in most cases.
Selling coins on tradehill.com which turns in to usd in my tradehill account.
Send the usd from my tradehill account to my dwolla account for $0.25 fee.
Send from my dwolla account to my bank's checking account.
It takes a few days to verify your bank account with dwolla but that's a one time deal.
Also note that it takes 1-3 days to get the money from dwolla to your bank account but I think you'll run in to that in most cases.
Doesn't Dwolla only offer withdrawal to US bank accounts at the moment?
This is the system I am using:
Selling coins on tradehill.com which turns in to usd in my tradehill account.
Send the usd from my tradehill account to my dwolla account for $0.25 fee.
Send from my dwolla account to my bank's checking account.
It takes a few days to verify your bank account with dwolla but that's a one time deal.
Also note that it takes 1-3 days to get the money from dwolla to your bank account but I think you'll run in to that in most cases.
Selling coins on tradehill.com which turns in to usd in my tradehill account.
Send the usd from my tradehill account to my dwolla account for $0.25 fee.
Send from my dwolla account to my bank's checking account.
It takes a few days to verify your bank account with dwolla but that's a one time deal.
Also note that it takes 1-3 days to get the money from dwolla to your bank account but I think you'll run in to that in most cases.
Doesn't Dwolla only offer withdrawal to US bank accounts at the moment?
This is the system I am using:
Selling coins on tradehill.com which turns in to usd in my tradehill account.
Send the usd from my tradehill account to my dwolla account for $0.25 fee.
Send from my dwolla account to my bank's checking account.
It takes a few days to verify your bank account with dwolla but that's a one time deal.
Also note that it takes 1-3 days to get the money from dwolla to your bank account but I think you'll run in to that in most cases.
Selling coins on tradehill.com which turns in to usd in my tradehill account.
Send the usd from my tradehill account to my dwolla account for $0.25 fee.
Send from my dwolla account to my bank's checking account.
It takes a few days to verify your bank account with dwolla but that's a one time deal.
Also note that it takes 1-3 days to get the money from dwolla to your bank account but I think you'll run in to that in most cases.
Thanks - responded.
I'm glad I decided to hold back on selling earlier.
I'm glad I decided to hold back on selling earlier.
Hi,
You could also try to go to www.bitcoin.co.za/forum/index.php to do private exchanges with people in SA - no fees. There is also another exchange where you can find fellow SA people to exchange with
@FaT I also send you a PM
MtGox / Tradehill => not a good idea, just my opinion
Tnx,
Hamburger
You could also try to go to www.bitcoin.co.za/forum/index.php to do private exchanges with people in SA - no fees. There is also another exchange where you can find fellow SA people to exchange with
@FaT I also send you a PM
MtGox / Tradehill => not a good idea, just my opinion
Tnx,
Hamburger
I should really keep track of my threads!
For any other South Africans: I have yet to try this, but I think the easiest way is to use http://www.bitcoinexchange.cc/ and convert from Bitcoins to Western Union. If you have an Absa bank account, Absa can deposit the cash directly into your account!
There would be a 7.5% fee involved from bitcoinexchange.cc
Maybe I need to try persuade MtGox / Tradehill to allow direct deposits
For any other South Africans: I have yet to try this, but I think the easiest way is to use http://www.bitcoinexchange.cc/ and convert from Bitcoins to Western Union. If you have an Absa bank account, Absa can deposit the cash directly into your account!
There would be a 7.5% fee involved from bitcoinexchange.cc
Maybe I need to try persuade MtGox / Tradehill to allow direct deposits
I found this site: https://www.bitcoin4cash.com/
Not sure if it's legitimate or not, it doesn't have any Google PageRank and it has a pretty high Alexa Rank, so it's a relatively new site, it might be worth trying though.
Not sure if it's legitimate or not, it doesn't have any Google PageRank and it has a pretty high Alexa Rank, so it's a relatively new site, it might be worth trying though.
Spam / Shill?
No? I'm just giving suggestions. I've found it hard to convert without a bank account and it's frustrating, it limits growth and the spread of newcomers.
I found this site: https://www.bitcoin4cash.com/
Not sure if it's legitimate or not, it doesn't have any Google PageRank and it has a pretty high Alexa Rank, so it's a relatively new site, it might be worth trying though.
Not sure if it's legitimate or not, it doesn't have any Google PageRank and it has a pretty high Alexa Rank, so it's a relatively new site, it might be worth trying though.
Spam / Shill?
If you have a friend/relative in the UK, say, they could purchase something for you that you want using their regular Visa/MC credit card. You send them the BTC. They can then cash out the BTC directly to their bank account more easily than you can in South Africa. I've transferred money from my bank account to both Britcoin and Mt Gox and it's a painless 1-2 days total.
The reason for using a friend/relative is for trust. It could work with a stranger, but there is a big trust issue.
The reason for using a friend/relative is for trust. It could work with a stranger, but there is a big trust issue.
hmm you could attempt to find another person in SA that also is interested in bitcoins and sell bitcoins to them in person for an amount specified by you or have them do a bank transfer to your account and then you send them the bitcoins or vice versa. You could also attempt to exchange the points for an amazon or visa prepaid card(even though its not cash as you wanted). I don't know if the visa's work in south africa (sorry) This could be a temporary fix to your problem until a more suitable exchange comes to your country!
I found this site: https://www.bitcoin4cash.com/
Not sure if it's legitimate or not, it doesn't have any Google PageRank and it has a pretty high Alexa Rank, so it's a relatively new site, it might be worth trying though.
Not sure if it's legitimate or not, it doesn't have any Google PageRank and it has a pretty high Alexa Rank, so it's a relatively new site, it might be worth trying though.
I just posted a similar thread out on Trading Discussions. http://forum.bitcoin.org/index.php?topic=15913.0 It's a pervasive issue.
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