Topic: Help with Currency exchange please. (Read 949 times)

 Yeah thanks mate it was fixed in like 15 minutes and their support was very fast in replying. Made a perfect fast transaction and plan to use them all the time now. Really appreciate the help from all of you. And hope it gets to the point is the only currency i have to use is Bitcoin.

A lot of markets have this problem.

Right now, for instance, it is really hard to buy silver bullion -- most dealers are sold out.  You'ld think it seems almost intentional that they are stopping people from buying silver until the price of silver rises again.

See what I did there?

In this instance, FastCash4Bitcoins only holds so much cash in order to buy bitcoins from their customers.  Some of that cash is in their Dwolla account, some is in PayPal, some is in their bank, etc.     So they can only buy as many coins as they can pay for in the specific payment method they've allocated funds to.  They eventually will restock any methods that run low but that takes time due to the slow banking system.  They don't carry enough inventory to handle huge selling days like yesterday, and the impact can last several days.  And FastCash4Bitcoins is probably the strongest cash-out services out there!

 Sorry just one more question? Any idea what this means on  FastCash4Bitcoins?  " Quantity to sell exceeds maximum payable funds or payment option is out of funds"

 It says the when i add the amount 5 coins right after making an account.

Thanks guys.

 Hmm i been running into walls non stop trying to sell coins? It almost seems intentional that they are stopping people from selling untill the price drops again. I tried 3 places recommended by users and everyone has one issue or another.

 Any other ideas or suggestions?

 Wow i cant ask for a better reply then that. Thanks so much for the info i highly appreciate it. I ended up just making an account on  MTGox but the Price was 49. when i wanted to sell and now its dropping extremely fast and i have a 10 day verification period so they could be at a very low value by then but oh well we will see.


 Thanks so much for the info Mate but i live in Mass . very far from you

You have quite a few options, you'll have to take a look at the exchange rates and decide which is best and most convenient for you.

If you want to use one of the more well known currency exchanges, you can create an account at BitFloor.com, BitMe.com, or Coinbase.com and sell your bitcoins there.

All three of those options will need your bank account information to transfer your money to you, so if privacy is important to you you'll want to consider other options.  They each will take a few days to validate your account as well, and they each have various exchange fees and/or withdrawl fees you'll have to consider.

https://fastcash4bitcoins.com/ can pay you with ACH (Direct Deposit), Bank Wires, PayPal, Dwolla, Company Check, Silver Bullion, or Gold Bullion.  Their exchange rate is typically a bit below the current MtGox rate (the last time I checked it was about 2.8% below), and they may have some fees as well.

If you prefer something more peer-to-peer, you can look at https://localbitcoins.com/  Depending on where you are located in the U.S. you may find someone who can meet up with you and exchange cash face-to-face.  You can also find people who are not local who are willing to exchange for you, but the biggest issue you'll run into in that case is that the person you deal with may be a scammer who either fails to pay you after you send your bitcoins, or pays you with a reversible method such as paypal and then disputes the charges after they have your bitcoins. Paypal is then likely to reverse the charges and you get nothing.

If you are anywhere near Chicago, I can meet up with you and buy the bitcoins off you with cash in the next few days.  If you are anywhere near Las Vegas, I can meet up with you after Friday, as I'll be in Las Vegas for a while starting on Saturday.  If we meet up and exchange cash,  I'll do the exchange for the current MtGox "Bid" price at the time of our meeting (currently $46.59). If you trust me, I can do the exchange for you any time in the next 12 hours with paypal for 1.5% below MtGox "Bid" price (currently that works out to $45.89). I can also send you a postal money order if you prefer.  In that case I'll deduct the money order expense from the funds after exchanging at 1.5% below MtGox "Bid" price.  Obviously you'll have to wait for the postal office then.

EDIT: As of 2013-04-17 BitFloor has ceased all operations.

Your best option will depend on a variety of variables, the following would help people give you the best advice (rather than recommending the one that works best for themselves):

• Where are you located (country)?
• How much are you looking to sell?
• How soon do you need access to the proceeds?
• Is privacy important?

  Hiya guys,

 I have been mining for a while but never considered selling any coins or rather converting them to USD currency. At this time i would really like to start looking into how to actually get USD from my BTC so i can upgrade some badly needed hardware.

 I read a bunch of threads on this post regarding all the exchange places but i was hoping i could get some recommendations from those of you that have cashed out before.

 What i am looking for is a safe secure place to convert the BTC to USD.

 Also i am confused on how to get the USD to either Paypal after which would be easiest for me or to my bank account.

 Any help would be highly appreciated as it took allot of work earning these coins and i really need a new GPU badly.

Thanks Guys

MybadOmen