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Topic: Do you buy or sell crypto for cash? - page 7. (Read 887 times)

full member
Activity: 364
Merit: 110
SPOKKZ
March 22, 2018, 03:11:47 PM
#63
Hey guys,

I'm doing a little research now about using cash (paper money) for direct buying or selling crypto in different countries and I need your help. Could you share please your experience of such deals in your country? In what way are you doing this? And what were the problems or the advantages of this way? If you can, please tell about which country you speak, then this research will be more practical.

The results of this research can help improve Dether dapp (https://dether.io/) the beta release of which will be in the coming days. The main strategic mission of this project is the breaking barriers to the mass adoption of Ether and crypto in general. The team believes that a convenient, mobile, decentralized, p2p way to buy and sell crypto for cash is able to significantly contribute to this and their opinion is shared by Consensys in the person of Ethereum co-founder, Joseph Lubin, which support them. I'm also long-standing and sincere contributor to Dether and I will be grateful to you for your help in this research Smiley

p.s.
Recently, Dether team interviewed citizens of ten countries to learn how to deal with the purchase / sale of crypto in general, in their countries. If you are interested to know what crypto enthusiasts from Tanzania, Czech Republic, Senegal, Vietnam, Congo, Philippines and others countries talk about it, you can get acquainted with the results of the interview in this Medium article https://medium.com/@DETHER/the-good-the-bad-and-the-ingenuitive-what-it-is-really-like-to-buy-and-sell-cryptocurrency-8fdfbfc2aee7. In this thread, as you already understood, I want to learn about the ways of buying / selling crypto directly for cash.


 I only got acquainted with the crypto-currency world, then I bought a crypt for currency for fiat money.
My friend assisted in buying me and I am very grateful for this.
He taught me to trade at the exchanges.
sr. member
Activity: 616
Merit: 321
March 22, 2018, 03:03:57 PM
#62
And than you did not arrange Localbitcoins? A good exchange for these operations. I would use it
full member
Activity: 364
Merit: 138
dApps Development Automation Platform
March 22, 2018, 02:26:21 PM
#61
There are quite a few stock exchanges to buy crypto currency for money. 
I usually just sell. If there is ETH, then you can sell it immediately with the output to the card. And if there is a token, I first exchange it for any crypto currency, but then you can sell it and put it on the card.

Hey, you probably didn't understand me correctly, although it's my fault. I didn't specify what I mean by paper money and direct purchase/sale of crypto using them. I already specified this in my original post Smiley
legendary
Activity: 1424
Merit: 1001
March 22, 2018, 11:43:56 AM
#60
Of course I buy and sell crypto currencies for fiat money. We have local exchanges, it's too easy for us after 2013. Before that it was hard because directly trading coins was risky. Now all we do is sell on the local market and give a withdraw order. In weekdays we get our money in only 1-2 hours. There is no regulation about it here yet.
sr. member
Activity: 434
Merit: 252
March 22, 2018, 11:42:34 AM
#59
The only way to buy or sell bitcoin for cash is ATMs. For me, this is the most unprofitable and expensive way. I do not understand how you can sell cryptocurrency for cash through the phone. It reminds me of a Scam. I have met a few of the services that offer these services via the courier. But there we are talking about large sums. And these are 100% black circuits. It is dangerous for everyone. For the seller and for the courier.
hero member
Activity: 2744
Merit: 541
Campaign Management?"Hhampuz" is the Man
March 22, 2018, 11:36:11 AM
#58
Yes i use to buy and sell bitcoins in single platform,theres local exchange that offers you to buy and sell our coins.though theres a big difference when you sell your coins,and when you buy from them almost more than 3% which a big amount for a buyer..but its ok because easier and accessible for any time
full member
Activity: 280
Merit: 102
The revolutionary trading ecosystem
March 22, 2018, 11:28:21 AM
#57
No way Jose I sell Bitcoin or buy Bitcoin with cash. The fees on those Bitcoin ATMs is absurdly high and I won't consider using it until it becomes a nominal fee and or I actually need the service. Don't see a point of using a Bitcoin ATM when I could use an online exchange that is about 800% cheaper to use Cheesy.
full member
Activity: 1260
Merit: 100
March 22, 2018, 11:13:48 AM
#56
i buy cryptocurrency using my money in the exchange.
In my country, there are some exchanges that accepting fiat-crypto transactions.
i just need to deposit my funds to the exchange, and buy the cryptocurrency from sell orders.
full member
Activity: 364
Merit: 138
dApps Development Automation Platform
March 22, 2018, 10:36:55 AM
#55
I tried it one time. Last year january i bought 3 bitcoins with the price of 790 usd per coin from a friend of mine i know it's very cheap compared on the actual price bitcoin that time which is 1000 usd and i held it for almost a year and sold it in last november with selling price of 15k usd per coin.

Anyways in my country the only way to buy bitcoin thru coins.ph a wallet/exchange site you have to verify your identity first before cashing out your bitcoins and turn into money and also they have limit to depositing money and withdrawal of your money.

Thank you for sharing your experience and nuances. This is very useful for my research Smiley
sr. member
Activity: 630
Merit: 250
March 22, 2018, 09:57:29 AM
#54
I did use cash in buying Bitcoins before but it was on a peer-to-peer basis. And there was really no actual fiat cash that changed hands. Everything happened online. I received my Bitcoins and I then transferred the money to his bank account. There was no escrow even as all my previous transactions of purchasing Bitcoins happened between me and either a person I personally know or someone who has been vouched trusted by someone else close to me. As for the selling, I do the conversion through a local wallet which would also deposit the same to my bank account.
Sending your money to any exchanges and sending money to the personal account is not same. nobody will ask you why sent money to that person but if you deposit money to exchange site you may face the problem.

If we know personally with whom we are doing business or any of our closed one refers someone we can trust them, but a believing 3rd person is risky I never tried this method. but now i have to try because our government is putting a lot of rules.
full member
Activity: 602
Merit: 100
March 22, 2018, 09:16:11 AM
#53
Yes, I buy crypto because this is an opportunity for me to gain big profits in the future. And also, I always plan all my transaction so that in any cased it will continue to drop I have still some second options to take. People will always say buy at low and sell it high so probably if there is a crashed then this is the time to buy.
full member
Activity: 322
Merit: 103
March 22, 2018, 09:14:59 AM
#52
The only way to buy Bitcoin for fiat is to use localbitcoins. Some time ago I was stupid  and greedy enough to try to avoin localbitcoins fees and sell BTC directly  to the other people. Spent the whole evening looking for a buyers on the local forum, most of the people I've talked with were absolutely inadequate and during that time Bitcoin lost about 5% of its price (the average amount of fee on my country) and I still didn't find a propper buyer.
I often buy and sell cryptos for fiat but it is a real pain in the ass if you are trying to avoid localbitcoins.
member
Activity: 237
Merit: 10
Presale is live!
March 22, 2018, 09:07:54 AM
#51
I dint buy or sell cryto currecny for cash because i think its very much risky . If i find genuine person then surely i will try to sell or buy crypto holding for cash but till now i dint find any person . In BCT i found some but dint want to take risk.
newbie
Activity: 182
Merit: 0
March 22, 2018, 09:03:25 AM
#50
There is no such possibility here but even if there was, I'm not a big fan of cash so i wouldn't really use it.
sr. member
Activity: 1400
Merit: 273
March 22, 2018, 08:55:31 AM
#49
I did use cash in buying Bitcoins before but it was on a peer-to-peer basis. And there was really no actual fiat cash that changed hands. Everything happened online. I received my Bitcoins and I then transferred the money to his bank account. There was no escrow even as all my previous transactions of purchasing Bitcoins happened between me and either a person I personally know or someone who has been vouched trusted by someone else close to me. As for the selling, I do the conversion through a local wallet which would also deposit the same to my bank account.
full member
Activity: 406
Merit: 100
March 22, 2018, 08:48:58 AM
#48
I do not like to use paper money. Therefore, I try to pay everywhere with plastic cards or online.
full member
Activity: 476
Merit: 103
homt.net
March 22, 2018, 08:23:20 AM
#47
No inever bough crypto directly from cash . I bought from exchanges that too converting money to US dollar . I dint buy directly using local fiat currency . Even local exchanges had huge margin for buying and selling . Now its reduced in my country .
newbie
Activity: 252
Merit: 0
March 22, 2018, 08:17:55 AM
#46
Betul.karena mata uang crypto masih belum bisa di gunakan untuk transaksi jual beli.mata uang crypto hanya bisa di gunakan untuk transaksi di pasar virtual.
legendary
Activity: 1134
Merit: 1010
BTC to the moon is inevitable...
March 22, 2018, 08:11:44 AM
#45
i have bought bitcoin with cash but never anything else and i don't want to do that either because i don't want to turn my money into altcoins. what i want to do is to turn my money into bitcoin (so i buy bitcoin with fiat) and then i want to make profit on the bitcoins that i already have (so i start trading altcoins which means i buy altcoins with bitcoin).

as for the anonymity of cash, i don't care for it much. i pay my taxes and i am not doing anything shady or illegal so i am not planning on hiding anything.
member
Activity: 210
Merit: 11
March 22, 2018, 08:08:33 AM
#44
there are 4-5 Exchanges in my country where I can shop with our local currency, I'm doing the buying and selling from time to time
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