Topic: How to convert to USD? (Read 1232 times)

What is omniwallet anyway? is there any official thread about it on bitcointalk? and what is there relation with tether.io?

Is this true, how a online wallet could be decentralized and what back those tether? IS this same as poloneix and other have as USDT or it is deferent? 

Just a little question to you guys out there.... I was just wondering how the Tax authorities handles Tax matters for underage kids and at what age are you being regarded as a adult for tax purposes? I

know most countries see Bitcoin as some commodity and they only tax the capital gain on it. Once you convert to cash, the capital gains come into play... right? This could possibly turn out as quite a

sticky subject, if you take those to things into consideration. 

there are so many exchange of converting bitcoin and USD and so many other curriencies.

Try to use an exchanger where you can easily convert your coins to any currency, I will recommend for bitstamp as it is a licensed exchange and there you will not lose your money.

Between $1 - $5 million trade on the Omni platform everyday.  For more than 2 years, been running like that.  Your 25 BTC is minuscule in comparison.

Oh, you like the pretty websites?  Those are the scammers.  They spend all their time on UI.  Sites that aren't a scam spend all their time on the core and don't worry about pretty UI.

Its totally safe because there are no fucking people involved.  It is pure blockchain science.  It is 100% code.  It's been running for a long time now.  Quietly.

Wow! Really? I never heard of tether. This is awesome. I checked the website https://tether.to/ and it seems legit and safe. I will definitely try to use this with some of my funds to see if this is really legit.

But all of these ways involve a human agent to handle the trade and they all charge fees.  You can do it for free as a Dex operation on the Omni platform. 

Use OmniWallet to hold both bitcoin and tether (and a whole bunch of other stuff if you like).  Don't go to a large exchange, they charge money.  You can make this trade directly on the blockchain WITHOUT any agents!  Trade Bitcoin for tether all day long - it is pure blockchain transaction and no humans.  Cool eh? 

There are many many many different ways to convert btc to usd like for instance, circle.com does debit, paxful does like everything, coinbase,ATM's, and so many other websites transfer btc for USD pretty easy nowadays

You could use one of the bitcoin exchanges and just not transfer it into your account but technically you still won't be in full control of them like you are with your own bitcoin wallet.

I meant i don't want to cash out but just hold into some wallet online in USD so that i can buy bitcoin again when price falls.Basically i need some usd wallet that can't be controlled by anyone else but me.

Almost similar to what Bryant.coleman said, since you don't plan to cash it out and only wanted to "rotate" them around from btc-usd-btc, I'd suggest a trading sites like yobit or others alike. IDK about btc-e since I never use them, but I think Yobit didn't require you to do verification if you don't plan to exchanging your btc into physical cash. CMIIW.

Most of the people replying to your post hasn't read it fully. You don't own a bank account, and yet you want to convert your BTC to USD (although temporarily) and want to convert the USD back to BTC when the exchange rates are stable. I'd suggest BTC-e. They don't have any verification, unlike the other exchanges such as Bitstamp and Kraken, and they have been around for almost 6 years now.

I had never heard of tether.io before. Is there such a thing as a tether wallet? I guess you need to go to one of the large exchanges to turn BTC into Tether?

If you're depositing Bitcoin then Bitfinex doesn't require verification. I'm not sure whether it does if you convert it to USD even if you're leaving the USD in there. Also as we've seen this week trusting them with your money may end up biting you.

You could do the same with btc-e which definitely doesn't verify but their support can be terrible.

There's coinapult on Mycelium which locks value in. Dunno if you can buy again or whether you need a bank account to do it.

it is a huge amount if you want to get this amount with safely i think you will must need to make your bank account ,
and then you can convert your BTC to Usd and then get it with safely .

One easy method is using LocalBitcoins.com. List a Seller ad for cash Bank deposit. LBC will hold your BTC in escrow until you verify the deposit was made. People usually have the depositor upload an image of the deposit slip, but be careful as an image can be manipulated. One technique is having the person rip the deposit slip in half before photographing so it's easier to detect image manipulation. Note: be sure to use cash only, and have the person write something like 'buying at localbitcoins.com - no refund' on the slip to protect against scams.

If the uploaded deposit slip looks good, and you've verified the deposit was made to your account (online or by phone) then release the BTC. This process can be very quick. Buyers can receive coins in about 1 hour. All they need for deposit is account #, name, and state (or zip). I haven't tried large amounts, but I imagine you could do say $500-1000 at a time safely. This also works well for detecting counterfeit bills, which is hard, but banks are good at, and of course cash deposits can't be reversed.

If you're not in a hurry for the cash you could buy gold/silver from a reputable bitcoin accepting merchant (providentmetals.com seems ok). Once you have your gold/silver you can of course sell it at any coin shop for cash.

Last, of course you can use an exchange like Coinbase.com to link your bank account for buying/selling coins. Of course this involves a lot of identification, verification and time etc.

First of all $1000 is not some mythical price limit of Bitcoin. I wouldn't sell at $1000 as I expect BTC will be a lot more expensive in the future.
Secondly if you are not in of money they why you want to touch your bitcoin stash at all? Be patient with it and wait, don't sell and don't invest, just wait.