How to sell bitcoins on an exchange | Bitcointalksearch.org

Karloff

sr. member

Activity: 256

Merit: 250

Quote from: jeraldskie11 on April 28, 2017, 10:31:13 AM

Quote from: Anastasios on November 13, 2016, 06:51:27 PM

I wonder how I am supposed to sell bitcoins on an exchange. I have been considering several and have gone through the KYC/AML process for three exchanges. The problem is once I sell my coins they might ask me to prove where I got them from. Keep in mind I am not intending to withdraw the FIAT, I just want to sell high and rebuy lower, and withdraw the coins.

The problem with proving the source of my coins is, how the hell do I do it? I bought them on MtGox and they can't ask MtGox for verification. Even if they did, the coins have gone through several addresses over the years. I can't even trace it back to the MtGox purchase since they went through other exchanges (and got mixed).

So what is one supposed to do here?

In that case, I'm not experiencing that already even I am trader. I trade in many exchanges site but not kind of issue. So for the advice, you need to give what they want like what he said, 'where it came from'. Tell him the truth even short words or long words. And it is for your security also why that is happening to prevent lost your money from scammers or hackers.

In my country, I should not report on where I got money from. I'm not sure that banks have the right to ask this. There are always exchangers who will not ask such questions

jeraldskie11

sr. member

Activity: 1316

Merit: 356

Quote from: Anastasios on November 13, 2016, 06:51:27 PM

I wonder how I am supposed to sell bitcoins on an exchange. I have been considering several and have gone through the KYC/AML process for three exchanges. The problem is once I sell my coins they might ask me to prove where I got them from. Keep in mind I am not intending to withdraw the FIAT, I just want to sell high and rebuy lower, and withdraw the coins.

The problem with proving the source of my coins is, how the hell do I do it? I bought them on MtGox and they can't ask MtGox for verification. Even if they did, the coins have gone through several addresses over the years. I can't even trace it back to the MtGox purchase since they went through other exchanges (and got mixed).

So what is one supposed to do here?

In that case, I'm not experiencing that already even I am trader. I trade in many exchanges site but not kind of issue. So for the advice, you need to give what they want like what he said, 'where it came from'. Tell him the truth even short words or long words. And it is for your security also why that is happening to prevent lost your money from scammers or hackers.

anasis

full member

Activity: 189

Merit: 100

Quote from: jovs on April 27, 2017, 10:43:09 AM

Quote from: chaser15 on November 13, 2016, 11:07:55 PM

Quote from: Anastasios on November 13, 2016, 06:51:27 PM

I wonder how I am supposed to sell bitcoins on an exchange. I have been considering several and have gone through the KYC/AML process for three exchanges. The problem is once I sell my coins they might ask me to prove where I got them from. Keep in mind I am not intending to withdraw the FIAT, I just want to sell high and rebuy lower, and withdraw the coins.

The problem with proving the source of my coins is, how the hell do I do it? I bought them on MtGox and they can't ask MtGox for verification. Even if they did, the coins have gone through several addresses over the years. I can't even trace it back to the MtGox purchase since they went through other exchanges (and got mixed).

So what is one supposed to do here?

Let's minimize the work first. First we startup at those three exchange you are talking about that you do a KYC thing process but still having a problem. Can you named those three exchanges?

As far as my own idea is concerned, the one who are strict to the source of the coin is the local exchange that legitimately operating in a certain country. But they are not putting that in a so much research since there it's hassle to do some deep research about where the coins came from.

Yes you need to do specific thing to sell your exchanges properly without problem. You will need to know your costumer to have a background on selling because it is a part of trading. Decision making is a must. Just think on the thing you will need to consider as people out there want easy money and like to deceive people on value. So if we are going to sell bitcoin is better to have an experienced and always transact on the people you trusted as much you trust you exchange.

I agree with you, you always need to choose a reliable exchanger. You can look in the ranking and choose the best one. Let it not give the highest price, but it will be reliable. This is the easiest way to sell bitcoin and stay not deceived

jovs

sr. member

Activity: 672

Merit: 250

Quote from: chaser15 on November 13, 2016, 11:07:55 PM

Quote from: Anastasios on November 13, 2016, 06:51:27 PM

I wonder how I am supposed to sell bitcoins on an exchange. I have been considering several and have gone through the KYC/AML process for three exchanges. The problem is once I sell my coins they might ask me to prove where I got them from. Keep in mind I am not intending to withdraw the FIAT, I just want to sell high and rebuy lower, and withdraw the coins.

The problem with proving the source of my coins is, how the hell do I do it? I bought them on MtGox and they can't ask MtGox for verification. Even if they did, the coins have gone through several addresses over the years. I can't even trace it back to the MtGox purchase since they went through other exchanges (and got mixed).

So what is one supposed to do here?

Let's minimize the work first. First we startup at those three exchange you are talking about that you do a KYC thing process but still having a problem. Can you named those three exchanges?

As far as my own idea is concerned, the one who are strict to the source of the coin is the local exchange that legitimately operating in a certain country. But they are not putting that in a so much research since there it's hassle to do some deep research about where the coins came from.

Yes you need to do specific thing to sell your exchanges properly without problem. You will need to know your costumer to have a background on selling because it is a part of trading. Decision making is a must. Just think on the thing you will need to consider as people out there want easy money and like to deceive people on value. So if we are going to sell bitcoin is better to have an experienced and always transact on the people you trusted as much you trust you exchange.

Monnt

legendary

Activity: 938

Merit: 1002

Quote from: amaral1977 on April 25, 2017, 02:10:27 PM

Never had sush problem on poloniex or bitfinex. USed liqui and cryptopia as well without the hassle. They ask you for id verification when there is credit card or bank account involved, never been asked where the funds come from.
You can always say the "tipping" in bitcointalk as been great lately:)

There are exchanges asking mobile number verification as basic one. I remember livecoin.net is having mandatory rule like that. Still I will go for producing some of my information as I do not feel any uncomfort on sharing those details because sometimes I just use my only verification alone mobile number not my personal one.

amaral1977

sr. member

Activity: 686

Merit: 250

Never had sush problem on poloniex or bitfinex. USed liqui and cryptopia as well without the hassle. They ask you for id verification when there is credit card or bank account involved, never been asked where the funds come from.
You can always say the "tipping" in bitcointalk as been great lately:)

olyaru

sr. member

Activity: 275

Merit: 250

Quote from: carlerha on April 25, 2017, 01:30:39 AM

Quote from: raven7886 on April 23, 2017, 10:35:11 AM

Quote from: pinkpanther03 on April 23, 2017, 08:27:17 AM

Quote from: Anastasios on November 13, 2016, 06:51:27 PM

I wonder how I am supposed to sell bitcoins on an exchange. I have been considering several and have gone through the KYC/AML process for three exchanges. The problem is once I sell my coins they might ask me to prove where I got them from. Keep in mind I am not intending to withdraw the FIAT, I just want to sell high and rebuy lower, and withdraw the coins.

The problem with proving the source of my coins is, how the hell do I do it? I bought them on MtGox and they can't ask MtGox for verification. Even if they did, the coins have gone through several addresses over the years. I can't even trace it back to the MtGox purchase since they went through other exchanges (and got mixed).

So what is one supposed to do here?

.
that's sounds fishy, an exchange asking where does your bitcoin came from. That's not good I think, you better stay away in that exchange. besides there are many other exchange site where they are asking where you bitcoin come's from just important is you buy bitcoin on their exchange site platform

When exchanges are dealing with fiats, I guess those KYC information are mandatory for preventing money laundry.

That is the reason some exchanges are asking the source of bitcoin from which it was earned from. I'm not finding anything wrong with this action of some exchanges because we need to comply with government regulations on preventing money laundry.

i think it is not such a difficult job i think everyone has their own choice. to me i personally using urdubit for selling my bitcoin for my fiat currency, i am using this service for such a long time and for every time i found it as reliable and trusted and will always like to continue it in future also.

I agree with you, I also use this service. I had no problems with the sale of coins. Everything is very simple and reliable. I love such services that work without problems

carlerha

hero member

Activity: 588

Merit: 500

Quote from: raven7886 on April 23, 2017, 10:35:11 AM

Quote from: pinkpanther03 on April 23, 2017, 08:27:17 AM

Quote from: Anastasios on November 13, 2016, 06:51:27 PM

I wonder how I am supposed to sell bitcoins on an exchange. I have been considering several and have gone through the KYC/AML process for three exchanges. The problem is once I sell my coins they might ask me to prove where I got them from. Keep in mind I am not intending to withdraw the FIAT, I just want to sell high and rebuy lower, and withdraw the coins.

The problem with proving the source of my coins is, how the hell do I do it? I bought them on MtGox and they can't ask MtGox for verification. Even if they did, the coins have gone through several addresses over the years. I can't even trace it back to the MtGox purchase since they went through other exchanges (and got mixed).

So what is one supposed to do here?

.
that's sounds fishy, an exchange asking where does your bitcoin came from. That's not good I think, you better stay away in that exchange. besides there are many other exchange site where they are asking where you bitcoin come's from just important is you buy bitcoin on their exchange site platform

When exchanges are dealing with fiats, I guess those KYC information are mandatory for preventing money laundry.

That is the reason some exchanges are asking the source of bitcoin from which it was earned from. I'm not finding anything wrong with this action of some exchanges because we need to comply with government regulations on preventing money laundry.

i think it is not such a difficult job i think everyone has their own choice. to me i personally using urdubit for selling my bitcoin for my fiat currency, i am using this service for such a long time and for every time i found it as reliable and trusted and will always like to continue it in future also.

xIIImaL

legendary

Activity: 1372

Merit: 1005

Quote from: pinkpanther03 on April 23, 2017, 08:27:17 AM

Quote from: Anastasios on November 13, 2016, 06:51:27 PM

I wonder how I am supposed to sell bitcoins on an exchange. I have been considering several and have gone through the KYC/AML process for three exchanges. The problem is once I sell my coins they might ask me to prove where I got them from. Keep in mind I am not intending to withdraw the FIAT, I just want to sell high and rebuy lower, and withdraw the coins.

The problem with proving the source of my coins is, how the hell do I do it? I bought them on MtGox and they can't ask MtGox for verification. Even if they did, the coins have gone through several addresses over the years. I can't even trace it back to the MtGox purchase since they went through other exchanges (and got mixed).

So what is one supposed to do here?

.
that's sounds fishy, an exchange asking where does your bitcoin came from. That's not good I think, you better stay away in that exchange. besides there are many other exchange site where they are asking where you bitcoin come's from just important is you buy bitcoin on their exchange site platform

Are you saying bitcoin is coming from exchanges who sell it? Every bitcoin is generating via the mining process and it will consumes the network fees for the every transaction. Via exchanges you can just buy or sell bitcoin as normal person or you can be start trading as trader and make profit.
Best selling places to get fiat for bitcoin are Yobit, localbitcoins, polenix and coinbase.

raven7886

legendary

Activity: 1512

Merit: 1041

Quote from: pinkpanther03 on April 23, 2017, 08:27:17 AM

Quote from: Anastasios on November 13, 2016, 06:51:27 PM

I wonder how I am supposed to sell bitcoins on an exchange. I have been considering several and have gone through the KYC/AML process for three exchanges. The problem is once I sell my coins they might ask me to prove where I got them from. Keep in mind I am not intending to withdraw the FIAT, I just want to sell high and rebuy lower, and withdraw the coins.

The problem with proving the source of my coins is, how the hell do I do it? I bought them on MtGox and they can't ask MtGox for verification. Even if they did, the coins have gone through several addresses over the years. I can't even trace it back to the MtGox purchase since they went through other exchanges (and got mixed).

So what is one supposed to do here?

.
that's sounds fishy, an exchange asking where does your bitcoin came from. That's not good I think, you better stay away in that exchange. besides there are many other exchange site where they are asking where you bitcoin come's from just important is you buy bitcoin on their exchange site platform

When exchanges are dealing with fiats, I guess those KYC information are mandatory for preventing money laundry.

That is the reason some exchanges are asking the source of bitcoin from which it was earned from. I'm not finding anything wrong with this action of some exchanges because we need to comply with government regulations on preventing money laundry.

pinkpanther03

hero member

Activity: 1092

Merit: 501

Quote from: Anastasios on November 13, 2016, 06:51:27 PM

I wonder how I am supposed to sell bitcoins on an exchange. I have been considering several and have gone through the KYC/AML process for three exchanges. The problem is once I sell my coins they might ask me to prove where I got them from. Keep in mind I am not intending to withdraw the FIAT, I just want to sell high and rebuy lower, and withdraw the coins.

The problem with proving the source of my coins is, how the hell do I do it? I bought them on MtGox and they can't ask MtGox for verification. Even if they did, the coins have gone through several addresses over the years. I can't even trace it back to the MtGox purchase since they went through other exchanges (and got mixed).

So what is one supposed to do here?

.
that's sounds fishy, an exchange asking where does your bitcoin came from. That's not good I think, you better stay away in that exchange. besides there are many other exchange site where they are asking where you bitcoin come's from just important is you buy bitcoin on their exchange site platform

Sled

hero member

Activity: 1680

Merit: 535

Bitcoin- in bullish time

You can sell bitcoin in exchangers site by just depositing it and just selling it to the bids of the buyers. But before you do that make sure that you will choose the best and safest exchanger site that will suit to you. You can use localbitcoins because it is very trusted site and i already do a lot of transactions with it and i can say that it is one of the best and safest site for me.

Idrisu

sr. member

Activity: 924

Merit: 260

Quote from: pinkpanther03 on March 30, 2017, 07:03:14 AM

Quote from: Anastasios on November 13, 2016, 06:51:27 PM

I wonder how I am supposed to sell bitcoins on an exchange. I have been considering several and have gone through the KYC/AML process for three exchanges. The problem is once I sell my coins they might ask me to prove where I got them from. Keep in mind I am not intending to withdraw the FIAT, I just want to sell high and rebuy lower, and withdraw the coins.

The problem with proving the source of my coins is, how the hell do I do it? I bought them on MtGox and they can't ask MtGox for verification. Even if they did, the coins have gone through several addresses over the years. I can't even trace it back to the MtGox purchase since they went through other exchanges (and got mixed).

So what is one supposed to do here?

I never experience that up to the present since I've sold bitcoin many times before. why don't you try to do in the other exchange exchange so you may not encounter that kind which is something fishy going on. Try Poloniex or bittrex.com

This is the something I want to said you experience is very strange. Have used poloniex to transfer before and I was never ask to prove how I generate my bitcoin or other crypto currencies! I think try others exchangers again outside the one you done before and I think you will successfully convert you coins.

pinkpanther03

hero member

Activity: 1092

Merit: 501

Quote from: Anastasios on November 13, 2016, 06:51:27 PM

I wonder how I am supposed to sell bitcoins on an exchange. I have been considering several and have gone through the KYC/AML process for three exchanges. The problem is once I sell my coins they might ask me to prove where I got them from. Keep in mind I am not intending to withdraw the FIAT, I just want to sell high and rebuy lower, and withdraw the coins.

The problem with proving the source of my coins is, how the hell do I do it? I bought them on MtGox and they can't ask MtGox for verification. Even if they did, the coins have gone through several addresses over the years. I can't even trace it back to the MtGox purchase since they went through other exchanges (and got mixed).

So what is one supposed to do here?

I never experience that up to the present since I've sold bitcoin many times before. why don't you try to do in the other exchange exchange so you may not encounter that kind which is something fishy going on. Try Poloniex or bittrex.com

Wintersoldier

sr. member

Activity: 966

Merit: 274

Quote from: beerlover on March 27, 2017, 02:54:24 AM

Quote from: blackhawkeye1912 on January 23, 2017, 06:43:19 AM

Quote from: Anastasios on November 13, 2016, 06:51:27 PM

I wonder how I am supposed to sell bitcoins on an exchange. I have been considering several and have gone through the KYC/AML process for three exchanges. The problem is once I sell my coins they might ask me to prove where I got them from. Keep in mind I am not intending to withdraw the FIAT, I just want to sell high and rebuy lower, and withdraw the coins.

The problem with proving the source of my coins is, how the hell do I do it? I bought them on MtGox and they can't ask MtGox for verification. Even if they did, the coins have gone through several addresses over the years. I can't even trace it back to the MtGox purchase since they went through other exchanges (and got mixed).

So what is one supposed to do here?

I don't know what your talking about your story experience, but the only things I know when I'm selling my bitcoin in yobit exchange platform I do trade it in dollar usd.

The question is being you going to get taxed on it, I mean for some people and some countries you are not allowed to exchange any foreign currency, and that includes bitcoin, and receiving money from sources that are not stated and for things that are not real is illegal, this is the current problem of bitcoin that it is not stated in a law directly, because it is not considered real money.

That is for the countries which doesn't consider bitcoin as a legal currency. However, in mamy countries, there are bitcoin exchangers than can be used to buy and sell bitcoin using fiat money. If a country can have this exchanger, then bitcoin would be consider as legal currency for that certain country.

beerlover

legendary

Activity: 3052

Merit: 1188

Quote from: blackhawkeye1912 on January 23, 2017, 06:43:19 AM

Quote from: Anastasios on November 13, 2016, 06:51:27 PM

I wonder how I am supposed to sell bitcoins on an exchange. I have been considering several and have gone through the KYC/AML process for three exchanges. The problem is once I sell my coins they might ask me to prove where I got them from. Keep in mind I am not intending to withdraw the FIAT, I just want to sell high and rebuy lower, and withdraw the coins.

The problem with proving the source of my coins is, how the hell do I do it? I bought them on MtGox and they can't ask MtGox for verification. Even if they did, the coins have gone through several addresses over the years. I can't even trace it back to the MtGox purchase since they went through other exchanges (and got mixed).

So what is one supposed to do here?

I don't know what your talking about your story experience, but the only things I know when I'm selling my bitcoin in yobit exchange platform I do trade it in dollar usd.

The question is being you going to get taxed on it, I mean for some people and some countries you are not allowed to exchange any foreign currency, and that includes bitcoin, and receiving money from sources that are not stated and for things that are not real is illegal, this is the current problem of bitcoin that it is not stated in a law directly, because it is not considered real money.

dearbesz1219

hero member

Activity: 924

Merit: 500

Quote from: TastyChillySauce00 on November 14, 2016, 05:38:30 AM

it seems you're just choosing the wrong exchanger, the purpose of people using bitcoin is because they want privacy even if bitcoin is not fully anonymous you still have a chance to keep your privacy,only government have the right to ask you such important thing,if the exchangers are trying to violate your privacy then just get away,they're not worth for exchanging for now and in the future

Indeed, you are right! I will support your statement. Anyone has the right to buy bitcoin in any exchanges. But if they insist to get your privacy that's the sign for you to avoid it and stay away from it because Bitcoin was decentralized.

blackhawkeye1912

sr. member

Activity: 784

Merit: 250

Quote from: Anastasios on November 13, 2016, 06:51:27 PM

I wonder how I am supposed to sell bitcoins on an exchange. I have been considering several and have gone through the KYC/AML process for three exchanges. The problem is once I sell my coins they might ask me to prove where I got them from. Keep in mind I am not intending to withdraw the FIAT, I just want to sell high and rebuy lower, and withdraw the coins.

The problem with proving the source of my coins is, how the hell do I do it? I bought them on MtGox and they can't ask MtGox for verification. Even if they did, the coins have gone through several addresses over the years. I can't even trace it back to the MtGox purchase since they went through other exchanges (and got mixed).

So what is one supposed to do here?

I don't know what your talking about your story experience, but the only things I know when I'm selling my bitcoin in yobit exchange platform I do trade it in dollar usd.

bitbob82

hero member

Activity: 630

Merit: 500

Quote from: genos on January 20, 2017, 08:19:40 PM

Quote from: bravehearth0319 on January 19, 2017, 03:14:25 AM

Quote from: TastyChillySauce00 on November 14, 2016, 05:38:30 AM

it seems you're just choosing the wrong exchanger, the purpose of people using bitcoin is because they want privacy even if bitcoin is not fully anonymous you still have a chance to keep your privacy,only government have the right to ask you such important thing,if the exchangers are trying to violate your privacy then just get away,they're not worth for exchanging for now and in the future

You are definitely correct, even the exchanger had no rights to ask you personal about your personal handling in bitcoin. Only they're job is to allow anyone and accept the player to do some trade to their platform. Because, we knew all here that bitcoin is giving us a security and and to protect our privacy.

Actually exchanger does not need to ask Where and how did you get your bitcoin. Most exchanger that i evet use never ask me about that shit thing. You should find another exchanger, and leave the current exchanger. I agree that it is a privacy from bitcoin user.

yes using exchange is the right decision, i think there are so many exchanges who give you service to buy or sell bitcoin or any other currency that is added in the exchange.

genos

hero member

Activity: 574

Merit: 500

Any store can buy, sell, and accept Crypto

Quote from: bravehearth0319 on January 19, 2017, 03:14:25 AM

Quote from: TastyChillySauce00 on November 14, 2016, 05:38:30 AM

it seems you're just choosing the wrong exchanger, the purpose of people using bitcoin is because they want privacy even if bitcoin is not fully anonymous you still have a chance to keep your privacy,only government have the right to ask you such important thing,if the exchangers are trying to violate your privacy then just get away,they're not worth for exchanging for now and in the future

You are definitely correct, even the exchanger had no rights to ask you personal about your personal handling in bitcoin. Only they're job is to allow anyone and accept the player to do some trade to their platform. Because, we knew all here that bitcoin is giving us a security and and to protect our privacy.

Actually exchanger does not need to ask Where and how did you get your bitcoin. Most exchanger that i evet use never ask me about that shit thing. You should find another exchanger, and leave the current exchanger. I agree that it is a privacy from bitcoin user.

Topic: How to sell bitcoins on an exchange (Read 4311 times)