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Topic: Is it possible to use bitcoin as an intermediary in money changing? (Read 500 times)

legendary
Activity: 1246
Merit: 1002
You know, like buying bitcoin with USD, then selling it for some other currency, like EUROs?

Or more simply, if you don't have a bank in a country with EUROs (for example), can you still get EUROs for your bitcoins somehow?

I think so. If you buy BTC with USD (a hundred ways), then use that to buy Euros on BTC-e exchange, you can withdraw them to Perfect Money, OKPay, or Paypal. Each has their minimums and fees, BTC-e included, but I think Paypal will let you hold a foreign balance - I'd read up to make sure. If you want physical euros, just find an IRL exchange, I guess.


A few years ago I sold some SLL (Second Life Lindens) for Euros through PayPal.  As far as I know, it was not against the PayPal ToS then, but it is now.  Anyway, I carried a balance of some Euros until I forgot to pay for something one day, and PayPal converted them at a poor exchange rate and wiped out my balance.

Also, PayPal has increased the fees dealing with foreign currencies since that transaction.

newbie
Activity: 56
Merit: 0
full member
Activity: 220
Merit: 100
Getting too old for all this.
You know, like buying bitcoin with USD, then selling it for some other currency, like EUROs?

Or more simply, if you don't have a bank in a country with EUROs (for example), can you still get EUROs for your bitcoins somehow?

I think so. If you buy BTC with USD (a hundred ways), then use that to buy Euros on BTC-e exchange, you can withdraw them to Perfect Money, OKPay, or Paypal. Each has their minimums and fees, BTC-e included, but I think Paypal will let you hold a foreign balance - I'd read up to make sure. If you want physical euros, just find an IRL exchange, I guess.
full member
Activity: 314
Merit: 100
You know, like buying bitcoin with USD, then selling it for some other currency, like EUROs?

Or more simply, if you don't have a bank in a country with EUROs (for example), can you still get EUROs for your bitcoins somehow?
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