Topic: I need to cash out (Read 406 times)

Not that i know of. If you want that sort of privacy, you should look into an exchange, not P2P.


  Yes, but the problem isn't the escrow, it's what happens after it, and whether or not the seller tries to revert his payment.

Can't you use https://cex.io or https://www.bitstamp.net ? I don't know if they are licensed in your state either, but it might be worth a try.

Yeah, I'll probably do localbitcoins.  I've been using bitcoin for a couple years as a currency to send money, this is my first time trying to buy low and sell high.  I thought Coinbase could do it all, I didn't know they weren't licensed in my state.  I've had an account with them, I can buy with credit/debit card or bank wire, I've been doing that for a couple years.  I don't need the dollars back right now, I want to wait until the bitcoin price drops and reinvest it.  If the fees were too high I was going to open a USD vault at Coinbase and stick it in there for a few months.  Except when I tried to actually do it it didn't work.  The BTC sits in my BTC wallet, I can't deposit it to my USD wallet.

I read the Andrew Cook articles on investing, but the exchanges, etc. he recommends don't seem to be around anymore, or do business in the US.  I investigated them all but they were dead ends.

I do want to park the $ until bitcoin goes down.  As another crypto currency maybe but don't they sort of track bitcoin in price?  Whenever bitcoin is high litecoin is high too.  I mine that a little so I watch it.  I don't watch the rest.

Bull market, that's a good question, care to put it in writing?    I'm looking at bitcoinwisdom and plots from a program I wrote and trying to decide.  It could go up or down as far as I can tell.  It's still wavering around $11k which it's been doing since about 6/24.  I know nothing of the underlying reasons it goes up or down.  A delay in cashing out wasn't the disaster I expected since it's actually gone up slightly.  Still down from the recent $13.7k peak.  I've see predictions that this peak might hit $20k but I'll believe it when I see it.

Oh, what option should I look for as far as getting $ back from a localbitcoins deal?  Cashier's check is risky, Paypal can be reversed.  Is there some way to wire through a trusted proxy so the guy on the other end doesn't actually get my bank numbers?  I suppose Moneygram or Western Union might be options.  So localbitcoins automatically handles the escrow?

Well Tether would be the temporary option, parking not scrapping.   Hauling value out of crypto into FIAT does have some costs to it and tether might be cheaper then that process.
   If you are new to this whole game then the option I've had most experience with and generally take to the most simple is localbitcoins.   There is other routes but very often it takes a while to jump through all the hoops and hurdles to convince them you are not serving a foreign army with your giant riches.

I've been on LBC as long as I've been on this forum, let me know if you wondering about any option there.   I dont know we share the same national currency as thats the simplest deal to go for otherwise I'd offer to help with the actual deal to do.   My general take right now is to hold BTC, I've seen this before and like previously it would seem to be accumulating over time despite every weeks peaks and drops.


Super simple option I often used to take ( to balance my risk vs costs, etc) was just to spend the BTC on items I would be getting anyhow, at least some of it .   There should be multiple options for that and shops, I think purse for amazon was mentioned as a good one but I need to check that out myself

Whoever 'recommended' Tether is a complete twat. It's not designed for dollar extraction, more value parking. The only place you could get real dollars for that would be swapping from Tether to USD on Kraken, and their dollar transfer options are hopeless, or Bitfinex and their banking might be screwed.

I would go for Gemini myself - https://gemini.com/areas-of-operation/ but make sure you request active trader status from support as you get much better fees. Or a very trusted trader on Localbitcoins.

And it may not be fashionable but I'd never sell to anyone on here under any circumstances.

Bitquick is also a good place to buy and sell Bitcoin: https://www.bitquick.co/?a=23004633, similar in function I think to Localbitcoins.com that was mentioned previously.

First of all price of Bitcoin is not dropping we are still in bull market I will teach you a better option to cashout your bitcoin try to exchange it to Paypal I know some trusted guys here are buying btc in exchange with PP funds just use an Escrow.

I don't see Tether or USDT, only USDC as options on Coinbase.  I've never heard of Tether, you picked that just to get it out of Bitcoin before Bitcoin drops?  I see BCH, ETH, ETC, LTC, ZRX, BAT, ZEC, DAI, BSV, XRP, REP, XLM, EOS.  I can use a wallet of one of those currencies or set up a vault.  But no vault in US dollars.  I think because they aren't licensed in MA.

Localbitcoins I've heard of.  Escrow I don't know about but I'm not going to hand it to the first "helpful" person that comes along.  I'm really looking for a way to buy and sell bitcoin going forward and I think localbitcoin has some safety user protection measures in place, like eBay or Aliexpress.

Make sure you both use escrow especially the OP (ab1jx).

To ab1jx, before dealing with anyone in this forum check their feedback page (for example: Trust page of ArthurY) and also deal with someone who has good reputation in this forum.

First rule to trade: Use trusted escrow.

I can receive your BTC and sent to you Western Union

If I understand it clearly then you need to cash out BTC in your local currency. The best option for you is to make an account at localbitcoins, transfer your BTC there, sell your btc to a local buyer and the money will be in your bank account.

Not a good solution however if I was you then I would do this: I would convert the BTC to Tether and then withdraw them from the exchange. You can do it with any exchange. Most of the exchange has USDT (Tether).