Topic: How to convert to fiat anonymously? - page 2. (Read 3195 times)

I have used two different methods to convert my BTCs to fiat, anonymously.

1. Sell your coins for Western Union, through localbitcoins.

2. Sell your coins for hard cash (USD, EUR or CHF). This was easy earlier, when Bitmit was there. There was a reputed seller there, who would barter bank notes for coins. But Bitmit closed down last year. 

I often to cash out my btc to fiat, and I enjoyed although I need to write my ATM identity, also I can use different Addy(I'm used local exchange). Used localbitcoin without use escrow or show identity is very risky right. But why op so hard want to he's transaction untraceable

https://www.bitquick.co/ allows you to get cash deposited directly into your bank account for your bitcoins. Of course you need to give your bank account number but only the site and the person buying will see the number.

http://www.cheapair.com allows you to book your flight using bitcoins.

http://www.expedia.com allows you to book your hotel room using bitcoins.

Unless you are doing something in-person, someone is going to need some information when you use the Internet to buy something.

there is only one way, chash out locally, meet the person in real life and do the transaction using a smarthphone, connected to a wifi preferably

Going directly to an exchange to convert your btc to fiat requires you to give your personal information due to KYC, so the viable option for me if I want to convert "anonymously" is by means of exchanging with another person. In this case, there would be no questions asked; show me your QR code for the address, you give me the money, I'll give you the btc. That simple. But there are cases when sometimes, the person that you're dealing with is a complete douche and tends to cheat you in the end (by means of robbery, this happened to someone I know when he dealt with someone)

Such a process would have to start with encrypting a whole transfer set of private keys (that couldn't leak out of memory) to the recipient's PGP, then sending all the previously-backed up private key BTC to the transfer set, AFAIK.

I wish the devs would develop a method of connecting encrypted transference of a whole wallet to all the wallets. They might have to release Bitcoin Core 0.11.0 to do it. This is so that you could transfer an entire wallet with whatever bitcoins and addresses it contained. Once so transferred, the original owner could no longer access the wallet with his password.

The transfer would be done using something like a standard PGP address which would be incorporated into the wallet, so that only the recipient could use/access the coins and the addresses in the wallet once it was sent to him. It might be beneficial to have a second blockchain for the wallets, but it shouldn't be necessary.

The bank would know you received a transfer
what is the biggest amount of BTC to sell before it becomes a problem and raises alarm for the bank?

this still sucks compared to withdrawing cash from an ATM instantly.

You may use mixer, but that would actually bring in more trouble to you. Because the coins that comes out of mixer are mostly traced back to some notorious source. If you can find any mixer that gives out freshly mined coins, that is a deal for you.

Once you get your coins, use www.localbitcoins.com or www.100bit.co.in for directly sell those coins. Do not need to meet anyone personally. Sell online. Just avoid to good to be true offers. That's all. It is super easy

I agree and the money laundering laws aren't a problem if you're not unloading very large sums.

Use an HD wallet. Your BTC will sit in a bunch of addresses that can't be linked to one another. If you currently have all your BTC in a single address, and you want to sell just some, transfer it to an exchange, then withdraw it into different addresses (of the same HD wallet), at different times, and it will be impossible to determine how much you started with.

I agree it can be inconvenient, but it feels good to walk into a public place of your choosing, check the buyer out, and release your coins when you see the cash, without even your name disclosed.


Because having hidden transactions on the blockchain make it much more complex. I understand how the blockchain works, but I don't know how you could modify it to make hidden transactions verifiable.

You could also try the link in my signature, Bit-X. They have a MasterCard debit card that can be used to withdraw fiat from your BTC balance. I've not used the debit card myself, so I don't know how well it works, and I doubt it would very anonymous. It is an option though.

I second the opinions above, localbitcoins is probably the best solution.

Thats why I said I don't like localbitcoins.

I just dont know why satoshi made the blockchain like this. Who in hell is going to not do something about it if they can, to make it more anonymous?

I just want to cash a couple hundred USD to enjoy my vacations ffs.. but if I do, the blockchain will trace where all the bitcoin comes from and they can tell my total holdings. This is stupid. Everyone with half a brain is going to try to avoid this, so why not make it invisible by default?

Some may disagree, but I don't think there is a truly anonymous way. You can, however, make it difficult to trace. I often use localbitcoins. You don't have to meet someone if you don't want to. Personally, I've met people at a local ATM, received money through moneypack, and I've also had cash deposited in my bank account from people on locabitcoins.

There is a certain risk with every method, so it's best to do some research first. Other than that, I don't know any other good ways.

Good luck.

To cash out you'd have to check localbitcoins and see if there's people near you that want to buy what you're willing to offload. The only downside to this is getting robbed or the police stinging and charging you with money laundering or some crap like that.

Let's say you made some money through faucets, signature campaign, whatever, and you have 5 BTC.
You want to convert 1 BTC to fiat, to enjoy your vacation (unfortunately, Bitcoin is still underground and not enough merchants to pay directly with it).

How do I get the cash anonymously?

I still dont get whats the point of having a transparent blockchain. Why the fuck people has to be able to trace the history of my Bitcoins and know my total amount of BTC?

Let's say I want to use Chip Chap and withdraw some cash at an ATM (in case you dont know what this is:

http://bravenewcoin.com/news/4000-atms-bitcoin-enabled-through-chip-chap/)

I think in spain they got something similar called Bit2me or BTCPoint.

Anyway, let's say I want to withdraw that cash... you need to give your phone away so they will know the origin of your BTC and potentially be able to tell how much you got, where it came from etc, and potentially you are setting yourself to be taxed in the future, if they discover you are holding 5 BTC, or 100, whatever. They got your phone, they got the transaction, and they can easily look on the blockchain to inspect where it all came from. You know what I mean? That is just crazy. How can I avoid this shit?

I have thought about Localbitcoins, meeting with an actual person and getting the cash, but that is annoying as hell, I want to be able to withdraw money from an ATM instantly, without depending on some random person being available that may or not rob you.

I've thought about mixing, but I have no idea how that works and i have no idea if that even solves the problem.