Is it possible to reliably, quickly and for a low fee convert BTC to fiat?

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Quote from: manuel on November 26, 2013, 01:49:34 PM

Is it reliable?

Bitpay has been around a while and is backed by some venture capital. I haven't used their service as a merchant but it always worked when I was buying things from other merchants. It probably is the simplest and cheapest method to implement where customer pays you BTC and you get USD into your bank account in a few days. I believe you can even decide to convert less than 100% so you could keep your profits as BTC if you wanted.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

BitPay is the market leader for bitcoin payment gateways. You can set up an account that allows you to accept them without ever dealing with them. Coins are converted and deposited into your bank account daily. Of course, if you learn more about bitcoin you can receive them and pay no fees.

manuel

member

Activity: 70

Merit: 10

Quote from: DeathAndTaxes on November 26, 2013, 01:46:03 PM

You want to accept BTC as payment and receive USD daily at a low cost?

Sounds like you want to use Bitpay. They have gone to a flat pricing model so the per tx fee is 0%, $0.00, and 0 BTC.

Yes unfortunately because i need to immediately turn around and buy back more inventory and my suppliers will only take USD or EUR.

Is it reliable?

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

You want to accept BTC as payment and receive USD daily at a low cost?

Sounds like you want to use Bitpay. They have gone to a flat pricing model so the per tx fee is 0%, $0.00, and 0 BTC.

manuel

member

Activity: 70

Merit: 10

I am asking because some friends and I are looking at setting up a business that would accept BTC for purchases but it just doesn't work unless we can quickly, reliably and for a low (or at least reasonable fee) convert back to fiat.

Unfortunately it just doesn't work for us any other way because our suppliers don't take BTC. It seems this whole issue of exchanging is a real stumbling block.

This would be for a very legit corporation operating outside of the US but with everything on the up and up absolutely 100%.

This is not to be confused with the question in my other thread (https://bitcointalksearch.org/topic/best-exchange-to-trade-or-buy-on-341885) which was more about having some dry powder (i.e. fiat) in a trading platform that would allow me to buy some coins from time to time when I felt the price was right but maybe trade back and forth a little. I still never really came to a clear cut conclusion there either. My main interest was not getting fiat back out but I noticed that a lot of people said "that's hard". Why? This seems like it's seriously inhibiting the adoption of bitcoin as a legit currency/solution. How can we fix this?

Thanks.

Topic: Is it possible to reliably, quickly and for a low fee convert BTC to fiat? (Read 540 times)