Do you buy or sell crypto for cash? - page 8.

Crumple Cat

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Quote from: Coinhype on March 20, 2018, 11:14:32 AM

I always try to buy cryptocurrencies with fiat money. Because i dont want to spend other cryptocurrencies to buy other cryptocurrencies. Theres an example. When i invest in a Initial coin offering, and i pay with Ethereum, they wll need some months before they got listed on an exchange. So in this months it can happen that the thereum price will go 3x or more. And when you got your tokens or coins on the exchange, they have the same price like on the ico. Thats why i dont like to buy cryptos with other cryptos.

Thank you for sharing your experience, but probably you didn't quite understand my question and probably because of me

I meant using paper money to direct buy or sell crypto. I already specified this in my original post. Well, could you say, did you have such deals and how did they happen?

12retepnat34

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In my country we have coins.ph that you can purchase bitcoin from cash and vice versa, and now they also open for ethereum exchange to btc or to cash.

haidangtp

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In my country, buying a coin like BTC or ETH is possible via a website by transferring money to a bank.

sonphamuser

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Quote from: Crumple Cat on March 20, 2018, 08:19:59 AM

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 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, 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

I think most of the members on this forum are investors rather than buy crypto for cash. For the most part, people who buy crypto for cash will often be less familiar with forums for professional investors to discuss Cheesy

rumexx

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I live in Nigeria and I make use of Luno (www.luno.com) for all my transactions both for crypto and fiat money. I directly exchange my ethereum from MEW or BTC to luno interface who now exchange to dollar and pay me directly to my local currency (Naira) in my local bank. If i want to buy any crypto coins Luno has an interface with my local bank GTB, all i have to do is to have the money in my account in GTB and then initiate the buying and it will be concluded with the crypto showing in my balance in Luno.

Crumple Cat

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Quote from: ajqjjj on March 20, 2018, 11:08:20 AM

Quote from: Crumple Cat on March 20, 2018, 08:19:59 AM

Hey guys,

I'm doing a little research now about using cash to buy or sell crypto in different countries and I need your help. Could you share about your experience of buying or selling crypto for cash 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 develop Dether dapp (about which you may have already heard), the main strategic mission of which is the breaking barriers to the mass adoption of ether and crypto in general. The team believes that cash can significantly contribute to this and their opinion is shared by Consensys in the person of the co-founder of Ethereum, Joseph Lubin, which support them. I'm also long-standing and sincere contributor to Dether p2p dapp and I will be grateful to you for your help in this research

In our country localbitcoins and coinbase are more supportive but why you are creating these kind of thread. If you want to know the exact analysis you can research our own this will always help to understand the exact report.

Hey. Thank you for sharing. It would be great to know what country you are talking about, if it possible

Regarding your question, as you understand in different countries, the situation may differ (current comments in the thread definitely confirm this) and I found it expedient to find out directly from those who had such deals. It seems to me that this information without which such research can't be full.

Crumple Cat

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Quote from: GreedIsNotBad on March 20, 2018, 10:58:53 AM

I bought a lot of crypto with cash, I don't understand the use of this topic.

Sorry, do you mean cash (paper money)? Maybe you misunderstood my question, I meant it was paper money. After your comment, I already additionally specified it in my original message. I want to know in what ways people in different countries use paper money(cash) for the direct purchase or sale of cryptocurrency. And what are the possible problems in this matter?

Maryshka91

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Periodically, I sell my altcoins to withdraw some money because I need to feed my family and myself, too. It is impossible to keep everything in bitcoin

Crumple Cat

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Quote from: labake on March 20, 2018, 10:58:24 AM

Absolutely yes, i've being buying and selling crypto for cash here in my country for years using luno.com and some other Trusted Escrow groups. I as well sell my asset for FIAT through peer to peer system, where you sell to someone you know like a friend or we have a meeting point if there is neccessity for that but all over trust is absolutely necessary in anywhere you are selling or buying. Crypto is of no use to us if we can't exchange it to our desired FIAT at our convenient time.

Thank you for sharing your experience in detail! I will definitely look at the site that you mentioned. But I have a question, do you have any inconvenience, in the ways you told about? In particular, in p2p exchange.

myhoho

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Few weeks ago i bought around 10k usd crypto with cash. Didnt use any wire transfers cause one of my friends was cashing out from crypto.
I never miss opportunities lol. Wire transfers are not my style.

Barbut

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I never bought nothing with cash, not even bitcoin. I started from zero, I had computer, internet and a lot of will and a big wish. I started with earning bitcoins on faucets, much later I invested that bitcoins in other cryptocoins. I cashed out a lot of money in last couple years, maybe not a lot for some rich guy but for my town standard its more then enough, there are months when I had so good gambling and trading that I made 3 times more here then with my regular everyday job.
I only sell crypto for cash, only when I need cash. I would like my country to be more progressive but it's not, so I need hard cash for paying things around.

gon

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Quote from: Crumple Cat on March 20, 2018, 10:30:43 AM

Quote from: gon on March 20, 2018, 08:35:17 AM

Localbitcoins is working flawless for me. I already made over 50 deals there.
Also, there are few companies what are working as a middleman with 2-5% commission. But this is the way to get your money in bank account really fast.

Thank you for sharing your experience

If this is possible, it would be cool to know what country you are talking about, this would help make the research more practical.

EU county.

What I wrote is valid for almost all EU counties. I have friends in few of them and in all you have SEPA from exchanges like kraken, localbitcoins, middleman companies and ATMs in the big cities.

cryptopov

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Not quite easy,because if you are exchanging millions of dollars assets from cryptocurrencies you will be questioned by the banks,best thing to do is sell it on p2p or person2person,because you wont need these banks with your transactions and the government wont see your fiat assets so you wont be taxed.

phreakorico

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But you would actually have to cash out somewhere in the near future right? How are you otherwise going to profit from the gains you have made? I do not think that forever holding is a smart idea. Enjoy life also.

Cookie Man

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Its very rare for such to happen, iv actually never sold crypto for cash, but i've instead change crypto for crypto, i don't think changing crypto for fiat is a wise idea either, i preffer circulating them just within the cryptocurrency environs

StickySteeez

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Create Your Decentralized Life

I have yet to cash out for the first time ever. I plan on doing so in the near future, but since my coins are all at a level comparable to initial coin offering, I'll have to wait a little longer unfortunately.

Leftneck

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A Blockchain Mobile Operator With Token Rewards

I never spend any capital in playing inside crypto.
just rely on reward bounty that I received from previous successful projects.
then I make trading and invest for atdraw cash into atm.

leea-1334

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Quote from: Crumple Cat on March 20, 2018, 02:06:51 PM

Quote from: Sponsoredby15 on March 20, 2018, 10:44:00 AM

Yes i've been selling crypto for cash in my country there's an company who buy and sell bitcoin for the exchange of money this company called coins.ph which i can easily buy or sell bitcoin on it and also i can cashout my much money because of selling bitcoin on the company

Thank you for sharing. I will definitely look at this site.
Let me make a clarification, in order to get cash for your crypto, you go to their office?

Coins.ph is one of the oldest exchanges in my region so I can also vouch for it. You do not need to go to the office, buddy. Everything is online, you can transfer money to them via many different methods. I would recommend you first check out all the exchange websites and see what fits your needs. Most important advice, is to achieve full verification at any of these exchanges before even committing to buy anything. you do not want to get stuck just because you were not verified.

Crumple Cat

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Quote from: boss82_big on March 20, 2018, 10:55:30 AM

So in my country it is very common practice to buy different tokens for real money. On my own experience, I can say that I was selling several times ETH, I just looked for a person who has cash and we exchanged at the rate

Thank you for sharing your experience, but could you tell about which country you are talking about and how exactly did you look for a person for exchange?

yura888

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“Create Your Decentralized Life”

I bought many times the cryptocurrency for cash. But I did it through friends and acquaintances with whom we simply exchanged cash for cryptocurrency with each other. But your idea is very interesting and I think that it will help many, including me, because now it's hard to find people to exchange

Topic: Do you buy or sell crypto for cash? - page 8. (Read 887 times)