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Topic: How can I use bitcoin to send money? Please anyone - page 2. (Read 1545 times)

sr. member
Activity: 1988
Merit: 453
I doubt whether it will be profitable for you, but here is an option:

1. Purchase Bitcoins using Vietnamese Dong, through exchanges such as Localbitcoins (not possible if Bitcoins are banned in Vietnam)
2. Convert the Bitcoins to US Dollar using the same exchange (i.e sell your BTC for USD)
3. Give the US bank account details for the 2nd trade.
4. US Dollar will be deposited in the bank account, and your trade is complete.
legendary
Activity: 3066
Merit: 1147
The revolution will be monetized!
You are in luck, sending money is the only thing bitcoin can do. However if you want to switch back and forth between bitcoin and fiat then you are going to pay for that. Fiat currencies come with lots of rules that you must obey to use. Bitcoin does not have these rules, but if you must involve fiat you gain little.
A much better plan is to use the bitcoin to directly buy things when you get back to Viet Nam. You many find only placed on the net, but you will save money this way.   In the future you may find more places to spend.
full member
Activity: 215
Merit: 100
You need a bitcoin ATM to get fiat. Otherwise, you need to signed up into poloniex exchange but they will never confirm your ID before months.
newbie
Activity: 7
Merit: 0
 I need to send money from Vietnam to the US. A few people told me to try using bitcoin to save on transfer fees and etc. I would love to bypass banksters since they rip me off in the currency exchange rates.
Can anyone offer their insight into the best way to send funds using Bitcoins?
I understand I have to buy the bitcoins locally but then what's the next step?
The sell part and getting the fiat deposited in a bank account in the US is where I am lost.
I prefer to buy and sell quick so I am not so exposed to price fluctuation.

Anyone please guide the newbee here.
Thanks to everyone who took the time to read my post.
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