Topic: Easiest way to shift from BTC to USD (Read 586 times)
this really depends on the country you live in. In some countries it's easier to exchange Crypto's to FIAT, while in other it's more complicated. It's not that difficult, you simply find a compliant exchange in your country, you send them your documentation (so they identify who you are, it's called KYC or Know Your Customer) and after that information is confirmed you can convert crypto's to fiat. To your second questions, yes, it's a good strategy to convert some of your profits to FIAT, but 50% is a bit too much if you ask me - that's half of your stack! I'd go with something lower, maybe less that 10%.. but this really depends on how much you have in the first place, and how much money you need converted, this is really up to you
As a lot of people have already explained, Tether (USDT) is the simplest way to immediately convert your Bitcoin to take advantage of highs (and then to buy back Bitcoin when it's lower) but this isn't the same as converting to fiat at all. My own personal preference to realise actual fiat value is through a secure p2p exchange, Localbitcoins online exchange using bank payment fits the bill for me. You sell Bitcoins to a trusted trader placed into escrow which you only release when the cash hits your account. It's not entirely foolproof as the buyer can always revoke the bank payment but that would put them through a lot of trouble. I've never had a single hitch for almost 50 sells now.
Another similar P2P exchange is Bisqui, kinda works exactly the same way, but am a new user with a handful of sells there, so can't vouch for it as much!
Another similar P2P exchange is Bisqui, kinda works exactly the same way, but am a new user with a handful of sells there, so can't vouch for it as much!
For me easiest way is using a trading platform just like mentioned in earlier post we have a lot of websites that can do that like bittrex, poloniex, bitfinex etc. If you are not familiar with this platform you may also use localbitcoins you can directly sell it to a person. It seems that you are now cashing out and you have gain some profit. Congratulations 
When BTC increases in value again, what is the easiest way to 'take profit' so to say. Not to sell everything, but maybe half of if, and save some profit for later buying at low prices. My question is not whether this is a good strategy or not! My question is:
What is the fastest/easiest way to change BTC into USD. Are there any exchanges that lets you turn BTC into USD on their platform? Or something like this?
What is the fastest/easiest way to change BTC into USD. Are there any exchanges that lets you turn BTC into USD on their platform? Or something like this?
There are many exchanges that allow bitcoin to USD conversion and withdraws. Coinbase and all are good options but I should warn you about Paypal - dont ever use paypal to exchange bitcoin and they can chargeback and you will get into trouble for that.
Bittrex and other cryptocurrency exchanges allow exchanging to USD as well and you can easily use them. If you want to just make an account and deposit the bitcoin there and then sell it for USD.
As far as making profits is concerned, I suggest everyone to sell small fractions of bitcoin slowly when the price is on the rise and buy again during the fall.
You can read about exchanging websites Very Well then choose the one who suits you.
My tips: Know the fees that suits you- Understand the FOREX basics first- Learn and start a Demo period for practising. This will help you not to lose money. "Shifting" Is not easy. It needs you to understand every little piece of BTC -Although sometimes luck works- but you have to not depend on luck factor.
Here is the famous Quote "Buy cheap, Sell Expensive!" < that made me rich BTW or Should I say Us?
My tips: Know the fees that suits you- Understand the FOREX basics first- Learn and start a Demo period for practising. This will help you not to lose money. "Shifting" Is not easy. It needs you to understand every little piece of BTC -Although sometimes luck works- but you have to not depend on luck factor.
Here is the famous Quote "Buy cheap, Sell Expensive!" < that made me rich BTW or Should I say Us?
Well, there are two ways to convert your Bitcoins in USD or any other fiat currency. The first one is normal way, you put your BTC funds on any exchange and place a sell order. You get the USD credit on that exchange equivalent to the trade amount. However, you still don't have the funds in your bank account and if the exchange supports withdrawal in the bank then you can go with that option and it will take anywhere between 24 to 72 hours.
On the other hand, you can trade your Bitcoins on Localbitcoins and select bank transfer as a payment option if you are willing to get the funds in your bank account. In this method, you get instant credit in your bank account unlike the first option.
On the other hand, you can trade your Bitcoins on Localbitcoins and select bank transfer as a payment option if you are willing to get the funds in your bank account. In this method, you get instant credit in your bank account unlike the first option.
Coinbase is the easiest way to go about withdrawing USD from BTC, just be aware that all information there is regulated.
Some people prefer the ancient method of localbitcoins because it's peer to peer and completely anonymous.
It all depends on how you conduct your business really.
Some people prefer the ancient method of localbitcoins because it's peer to peer and completely anonymous.
It all depends on how you conduct your business really.
selling half of it or selling your profit when the price is up is a good strategy indeed,
no matter what is your strategy,as long as you can secure your profit it can be considered as a good method.
there are a lot of place for you to convert/encash you Bitcoin into USD and other Fiat.
for example,
i used kraken to do it,in there you can convert it to JAP,CAD,USD,EU and others.
not only kraken,you can find a lot of platform that offer you that kind of service .
just check it in here : https://coinmarketcap.com/currencies/bitcoin/#markets
no matter what is your strategy,as long as you can secure your profit it can be considered as a good method.
there are a lot of place for you to convert/encash you Bitcoin into USD and other Fiat.
for example,
i used kraken to do it,in there you can convert it to JAP,CAD,USD,EU and others.
not only kraken,you can find a lot of platform that offer you that kind of service .
just check it in here : https://coinmarketcap.com/currencies/bitcoin/#markets
Just sell BTC for USD at any exchange (i use bittrex) because why not? that is the easiest way i can think of and one of the best way so that's how i make my BTC to USD.
Are you American? If so, your best bet is to open a Coinbase account. They will allow you to sell your bitcoin for USD and then withdraw the USD straight into your bank account by direct deposit.
I guess you are saving your BTC into a web wallet. If you want to trade your BTC into instant USD. Then send your BTC to your Poloniex or Bittrex account. You can sell your BTC to USDT when the coin is about to dump.
When BTC increases in value again, what is the easiest way to 'take profit' so to say. Not to sell everything, but maybe half of if, and save some profit for later buying at low prices. My question is not whether this is a good strategy or not! My question is:
What is the fastest/easiest way to change BTC into USD. Are there any exchanges that lets you turn BTC into USD on their platform? Or something like this?
What is the fastest/easiest way to change BTC into USD. Are there any exchanges that lets you turn BTC into USD on their platform? Or something like this?
Me I use BITTREX. As of now, for me, it is the fastest way to exchange USD to BTC and vice versa. The interface is user friendly and very easy to navigate. Here is a link that can help you in regards with BITTREX.
https://support.bittrex.com/hc/en-us/categories/200049234-FAQ-Frequently-Asked-Questions
https://support.bittrex.com/hc/en-us/categories/200049234-FAQ-Frequently-Asked-Questions
there are a lot of ways to change your precious bitcoins for despisable fiat currency.
It depends on what do you need, cash or a transference?
If you prefer cash you can use localbitcoins and set a meeting with someone.
There are some services like coinbase that could send you the USD to your account but it depends on your privacy policy...
you will have to share personal info with them.
It depends on what do you need, cash or a transference?
If you prefer cash you can use localbitcoins and set a meeting with someone.
There are some services like coinbase that could send you the USD to your account but it depends on your privacy policy...
you will have to share personal info with them.
When BTC increases in value again, what is the easiest way to 'take profit' so to say. Not to sell everything, but maybe half of if, and save some profit for later buying at low prices. My question is not whether this is a good strategy or not! My question is:
What is the fastest/easiest way to change BTC into USD. Are there any exchanges that lets you turn BTC into USD on their platform? Or something like this?
You can see a lot of the exchange sites already listed fiat pair to the bitcoin and that was having various kind, But i kinda feel believe the USDt will give an alternative way for you to change your bitcoin into the digital USD. I remember the only US exchange site such as the bitstamp or even coinbase that listed the fiat (USD pair to the bitcoin) What is the fastest/easiest way to change BTC into USD. Are there any exchanges that lets you turn BTC into USD on their platform? Or something like this?
practically every exchange is working like that!
you "convert" something to something else on their platform. for example you have BTC and want USD, you exchange it for USD and keep it there until you buy back again and have BTC again or anything else you want to do.
when you sign up on an exchange you get "an account" which has all these balances which you use to trade with.
you "convert" something to something else on their platform. for example you have BTC and want USD, you exchange it for USD and keep it there until you buy back again and have BTC again or anything else you want to do.
when you sign up on an exchange you get "an account" which has all these balances which you use to trade with.
I am not a big fan of USDT, as the price is never stable like a real dollar. When I want to hedge, I sell off for USD or EURO on bitstamp or kraken
There are Bittrex and Poloniex which let you trade your BTC for USDT, which is a asset pegged to the US Dollar. 1 USDT is supposed to be worth $1; You can do that to avoid having to deposit and withdraw between the exchange and your bank account multiple times while buying and selling Bitcoin.
But, unfortunately it's still somehow risky. There are some reports that criticize the Tether (USDT) a lot.
Some readings:
http://www.newsbtc.com/2017/03/21/tether-balance-sheet-unveils-large-discrepancy-usdt-usd-reserves/
https://www.reddit.com/r/Bitcoin/comments/672ia4/cryptocurrency_price_suspicious_activity_with/
But, unfortunately it's still somehow risky. There are some reports that criticize the Tether (USDT) a lot.
Some readings:
http://www.newsbtc.com/2017/03/21/tether-balance-sheet-unveils-large-discrepancy-usdt-usd-reserves/
https://www.reddit.com/r/Bitcoin/comments/672ia4/cryptocurrency_price_suspicious_activity_with/
If you have put the BTC into an exchange then the simplest way to exchnage it to USD would be simply buying USD or USDT from the exchange and then withdraw it directly to your bank by the available options.
If you have the BTC in your wallet then see whether you have the option to sell it for USD for example coinbase wallet has the option to convert it to USD. Although their transactiopn charges are a bit too high they have the option to exchange it to USD. You can also try looking for other similar wallets which have the option to exchange BTC to USD or USDT.
If you have the BTC in your wallet then see whether you have the option to sell it for USD for example coinbase wallet has the option to convert it to USD. Although their transactiopn charges are a bit too high they have the option to exchange it to USD. You can also try looking for other similar wallets which have the option to exchange BTC to USD or USDT.
When BTC increases in value again, what is the easiest way to 'take profit' so to say. Not to sell everything, but maybe half of if, and save some profit for later buying at low prices. My question is not whether this is a good strategy or not! My question is:
What is the fastest/easiest way to change BTC into USD. Are there any exchanges that lets you turn BTC into USD on their platform? Or something like this?
What is the fastest/easiest way to change BTC into USD. Are there any exchanges that lets you turn BTC into USD on their platform? Or something like this?
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