Topic: How many % fee do you pay to convert to fiat? (Read 1481 times)
I ever convert bitcoin to fiat with a local exchange, and the fee is 0,8% if I am not mistaken. but when my friend converted it, he sometimes ask for fee around 0-0,5%. he is very kind really. that is why I alwyas convert my bitcoin to him when I need it.
I converted my btc to fiat yesterday and it cost me nothing. our local wallet has a feature where you can convert your btc directly to your bank account or any remittance you prefer to get your money, but this is only for verified members. if you use an exchanger well it will cost you around 5% i think.
wow it is a very nice facility dude, in my local exchange, if you want to convert bitcoin to fiat and withdraw it into your bank. you must verify the data first, then your money will be charged a fee of 1%. but it was not too big
Base in my caculation with our rates exchanging our bitcoin from that company i think 0.03% base in my own caculation and margin of buy and sell price from their website.. this is cheapest rate i think than the other country..
My exchanger asks me 5% fees if I take e-wallet payments and if I take bank cash he takes 7% fees. Also sometimes when he needs btc he offers me trades with 0% fees and I accept them if I have some btc to sell.
i use different exchange and i think that every bitcoin has their price. to me the most reasonable fee is that of Urdu bit they only pay 0.5 percent. tha tis really too much reasonable fee. and that is the reason that i mostly use that exchange. 
I converted my btc to fiat yesterday and it cost me nothing. our local wallet has a feature where you can convert your btc directly to your bank account or any remittance you prefer to get your money, but this is only for verified members. if you use an exchanger well it will cost you around 5% i think.
interesting that is very good that you convert your bitcoin into fat without any transacton fee. to me i think i pay 1 percent of total amount while converting bitcoin into fiat currency.and after that i have to pay bank charges for concerting it into my bank account. 
If I need fiat I usualy use localbitcoins because I have trusted trader there who will convert Bitcoins to my local currency and pay it to bank account with very fair and reasonable exchange rate. I think that 5% is acceptable rate, everything above that would be too much to my opinion.
My exchanger asks me 5% fees if I take e-wallet payments and if I take bank cash he takes 7% fees. Also sometimes when he needs btc he offers me trades with 0% fees and I accept them if I have some btc to sell.
I converted my btc to fiat yesterday and it cost me nothing. our local wallet has a feature where you can convert your btc directly to your bank account or any remittance you prefer to get your money, but this is only for verified members. if you use an exchanger well it will cost you around 5% i think.
How much does it cost for you guys to convert to fiat, and is the converting process convenient for you?
I'm new to mining and over the past 3 months and mined about $500 of various cryptos. They are converted to btc on Poloniex, moved to Gemini, then converted to USD and withdrawn to my bank.
My bank fees are about 8% unfortunately. I'm in Hong Kong and have no easy access to US banks or btc to Amazon gift card services. Any tips on lowering these fees?
About 3 to 4 percent, I have basically the same problem as you since those fees come from my bank, I’m trying to see if other banks have lower fees but, when you talk about bitcoin, they don't even know what I’m talking about, so it has been difficult to know if other banks offer better rates. I'm new to mining and over the past 3 months and mined about $500 of various cryptos. They are converted to btc on Poloniex, moved to Gemini, then converted to USD and withdrawn to my bank.
My bank fees are about 8% unfortunately. I'm in Hong Kong and have no easy access to US banks or btc to Amazon gift card services. Any tips on lowering these fees?
Facebook is one of the easiest way to convert bitcoin to our currency or vise versa, I used to have traded several times already we always meet in starbucks and do the trade their. For example he will buy 1 Bitcoin and the current price of Bitcoin is 400$ i will sell 1 Bitcoin to my customer for 390$. You'll only get hassled but 0% scam if you meet up.
The last time i had exchanged my bitcoin for fiat it cost me nothing, the buyer were a local buyer/seller of bitcoin we do have accounts at the same bank, soo he had paid me the rate of preev without anything up or down the moment of the transaction, i werent lucky because i sold at 700 and bitcoin went into 1100 dollars last year anyway.
Around seven percent.
lol u guys are paying to convert to fiat? I make a minimun of 3% fiat side profit selling on paxful
Around seven percent.
i think its about 1%-1.5% but i think its fine for me, because i only sell my bitcoin with my friends which is receive the exchanges too like other third party.
if you exchange it to your friend, of course it will be up to you and your friend, it still could be changed according to your negotiations, but most exchanges. provides fee of about 1% -5%
I use YoBitc for such kind of transactions and they take 0.2% fee to convert my bitcoins to ruble (Russian currency) and that's it. I almost do not loos anything of my money with such low fee.
I think that I pay about 1.4%
To me that is a very fair price, the site must make a living as well.
Especially because it's based in my home country. So I am supporting economy of my country as well.
That makes me sleep good at night.
To me that is a very fair price, the site must make a living as well.
Especially because it's based in my home country. So I am supporting economy of my country as well.
That makes me sleep good at night.
I have used localbitcoins and Bitcoin-based debit cards to convert my BTCs to fiat. Using Localbitcoins is simple, and the fee is usually 2% to 5%. But the problem is that since the cash is credited directly to the bank account, the authorities can track the transaction.
The second option is withdrawing physical cash through bank ATMs, using Bitcoin-based debit cards. This method is more anonymous, but there are multiple fees involved. There is a currency conversion fee, and debit card maintenance fee. Also there is a fixed charge levied for each of the ATM transactions.
The second option is withdrawing physical cash through bank ATMs, using Bitcoin-based debit cards. This method is more anonymous, but there are multiple fees involved. There is a currency conversion fee, and debit card maintenance fee. Also there is a fixed charge levied for each of the ATM transactions.
I've never been to the only ATM that changes BTC into fiat in my country, but I've been to a country that's close to mine and they offered a 2.6% fee. A few weeks ago the fee was risen up to 3%, which isn't very much for the small sums I'm converting but it's still high compared to the banks' ATMs. I prefer to use the Bitcoin ones with higher fees and be anonymous rather than using the controlled system.
For the purpose of converting bitcoin to fiat most of the time I prefer to make trade with traders. So only based upon the profit margin I select a particular trader. Only escrow fee is taken additional other than the converted amount of fiat.
I didnt exchange my bitcoina for any fiat yet, I investigate where I can do it and one guy offer to do it for 5 %, that is OK, cause I would need to sell btc for dollars ( exchange will tale fee for that ) then to send dollars and in the end to exchange dollars for my currency. As you can notice process seems a bit hard, so I think 5 % that this guy takes is OK, and all members here from my country talk good about him.
Jump to: