How do you cash out... - page 2. | Bitcointalksearch.org

Hamphser

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Quote from: shesheboy on December 28, 2017, 11:03:40 PM

Quote from: plaintiff77 on December 28, 2017, 07:11:50 PM

In my country which is the philippines I have a btc wallet called coins.ph and i this wallet I can be able to cashout my btc into cash an witdraw it through atm machine and this is only atm machine that allows to cashout and that atm machine is from Security Bank.

im also from the ph and i also use coins.ph as my primary wallet to cashout or exchange my bitcoins to local fiat and then withdraw it via a remittance center. i dont use atm bank as withdrawal option because mainy coins.ph user said that atm withdraw is verry risky and most of the times they lost their money after they request a withdrawal in an atm bank which is security bank specifically. they also contact the support of coins.ph but they dont get any direct reply form their team.

Back in the past on where their egive cashout is the most convenient way on cashing out your fiat that came from converted bitcoin that you do made which errors are just on rare cases but now everynow and then they did really experience errors on those kind of cashout.This is why I do stick on transferring on bank accounts directly.

Back to topic cashing out your coins would vary on which country you do live on and find the suites your taste and speaking on fees I don't even know since they do really have different fees on each one of them.

Radnie

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Using coins.ph is a very good and convenience digital wallet in the Philippines. Inside of the wallet their is a lot of options to cash out your money (either bank or exchange). I have a great experience with them from start in invested in cryptocurrency till now. Thanks

shesheboy

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Quote from: plaintiff77 on December 28, 2017, 07:11:50 PM

In my country which is the philippines I have a btc wallet called coins.ph and i this wallet I can be able to cashout my btc into cash an witdraw it through atm machine and this is only atm machine that allows to cashout and that atm machine is from Security Bank.

im also from the ph and i also use coins.ph as my primary wallet to cashout or exchange my bitcoins to local fiat and then withdraw it via a remittance center. i dont use atm bank as withdrawal option because mainy coins.ph user said that atm withdraw is verry risky and most of the times they lost their money after they request a withdrawal in an atm bank which is security bank specifically. they also contact the support of coins.ph but they dont get any direct reply form their team.

Bonakid

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I exchange it into btc and turn into fiat in cash out my altcoins.I send it ro any remittances to pick up my cash,it is the way by cash out our money in our country.Fast transactions and no hassel in my wallet.

ethereumhunter

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Quote from: Lexters on December 28, 2017, 05:34:04 PM

Hi all,
Was wondering just wondering as Ive not actually thought about this before is how do you cash out. If I want to turn my alt coins into cash to spend on the latest cars what's the quickest, cheapest method?
Im in for the long haul though!!

Be lucky
Lex

how cheap do you want? because as far as I know, we need to pay some amount and it depends on the country where we live. I think the best we can do is by using our friend service or localbitcoin because the fee is not too big if we compare on the website. but I don't think that altcoin could turn into cash for another country because it is only applicable to some country.

reck1ess

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Quote from: Lexters on December 28, 2017, 05:34:04 PM

Hi all,
Was wondering just wondering as Ive not actually thought about this before is how do you cash out. If I want to turn my alt coins into cash to spend on the latest cars what's the quickest, cheapest method?
Im in for the long haul though!!

Be lucky
Lex

Exchange altcoin to fiat currency if it is available on the platform you are in, and if not, exchange it to BTC before exchanging it to fiat currency. There are some wallet that have feature of having cryptocurrencies direct exchange to fiat.

pixie85

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It depends on the currency that you're using. In my case it's EUR. I hardly ever cash out, but when I do it's at coinbase straight into my bank account and then via an ATM if I'm in need of cash. I have cashed out everything that i've invested already and all that's left is going to stay in cryptocurrencies until it's worth millions or nothing. It's go big or go bust!

CryptoVance

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The best way to cash your bitcoin is through the exchange where you bought our bitcoins e.g Coinbase or Gemini.

plaintiff77

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In my country which is the philippines I have a btc wallet called coins.ph and i this wallet I can be able to cashout my btc into cash an witdraw it through atm machine and this is only atm machine that allows to cashout and that atm machine is from Security Bank.

Manc89

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Quote from: blue_id69 on December 28, 2017, 05:38:11 PM

Exchange it dirrectly to fiat is possible, if not exchange it to btc first. Some market support local bank, use that market. You can search it at google based on your location, or simply register to localbitcoins

Many exchanger can cash out to local fiat money directly.
I actually cash out in my local exchanger in local currency. So it easier than.

tabas

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Quote from: Lexters on December 28, 2017, 05:34:04 PM

Hi all,
Was wondering just wondering as Ive not actually thought about this before is how do you cash out. If I want to turn my alt coins into cash to spend on the latest cars what's the quickest, cheapest method?
Im in for the long haul though!!

Be lucky
Lex

I'm pretty sure that there are many local exchanges that are existing and most of us are cashing out through that way and in what country do you live? You can also try convert those alt coins first into bitcoin and find your best deal at LBC.

Lexters

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Thanks for that, I don't intend to cash out anytime soon but in the long run it's nice to know you can get cash when needed. I'm UK and have signed up with coinbase, Kraken and a few others.
I'm sure as time goes on it will become even easier.

Nilupulie

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I used exchanges like BTC and Coinspot to cash out. It is depend on the country you located & just do google search and find suitable exchanges to cash out purposes. The reason is some exchanges are not supporting to some countries. It is depend on the where you locate and the bank you involve. Hope this works for you

codebread

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Quote from: Lexters on December 28, 2017, 05:34:04 PM

Hi all,
Was wondering just wondering as Ive not actually thought about this before is how do you cash out. If I want to turn my alt coins into cash to spend on the latest cars what's the quickest, cheapest method?
Im in for the long haul though!!

Be lucky
Lex

Try making cashout from trusted exchanges, I think SEPA transfers are avaialble in afew.

marketcoin2

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Quote from: rezius on December 28, 2017, 06:08:29 PM

How did people cash out pre coinbase, bittrex, bitstamp days?

Also does anyones bank ever say anything if it's multiple transactions over 10k?

you need to link your bank account, and then you cash out!
Banks are obliged to report transactions about 10K to the authorities (IRS, ...)!
If you have hold the coins for more than a year, it will be taxed as a capital gain, otherwise as income tax!

Ayiranorea

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I prefer localbitcoins for the purpose of cashing out what I have in the wallet. This provides the ease with the opportunity to make a trade upon our convenience with any particular trader that have got listed. Also it is the one which is listed among the five licensed trading platform.

DPrillio

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Quote from: EinaiOraCoinDev on December 28, 2017, 06:13:46 PM

Bittrex or bitstamp? Of course not , i move all my money to localbitcoins and then i withdraw my money on cash with another guy.

This makes me do not have to spend 100$ worth of fees and i do it all quickly and i avoid the banks.

Yes, we have all different strategy on how to cash out depending on the urgency of needs and as for me i always used banks if i am not in hurry because it will directly deposit on my debit account and if time that i need to get the cash urgently then i will prefer to use cash remittance.

CryptoCurr

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I used bitcoin exchanges like Kraken, BitPanda, or CoinBase to cash out my bitcoins.

Pantoflascrypt017

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Depends what altoins you're holding and what fiat currency you use? litecoin and vertcoin can be exchanged to euros pretty easily i know and surely there are many others like monero maybe.

mayidid

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Coinbase seems to be pretty secure and I have used them in the past to buy Bitcoins from my bank account and to cash out to my bank account. The drawback is that you have to provide identification and link your bank accounts with them to make this work. If you’re willing to do this, it should be secure at least with my experience.

Other options are using localbitcoins or just making a cash transaction with a friend if you can find one that wants to buy some Bitcoins. That way you can avoid fees and taxes.

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