What Are Most Reliable Ways To Sell Bitcoin? - page 2.

chaoscoinz

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Quote from: Edsection on April 24, 2019, 08:54:47 AM

Hey guys!

Some of you may think that my question will be dumb and that Google can help me but Google does not have everything - it does not have personal experience.

My question is - how can I sell my BTC without paying high fees to someone? I made a big mistake and lost my BTC using an exchange that's not reliable. In the end, it turned out they don't even have a customer support team.

I need a personal experience of how you have done it or maybe a place or an article where you can learn these things.

Because of the price increase, I want to sell some of my Bitcoins but I want also to make sure the transaction goes through.

It really depends on what country you're located in. The laws and regulations regarding cryptocurrencies vary from country to country. If you are within the U.S, Coinbase is a staple within the American diet of exchanges. It"s pretty simple to set up an account. but does require some personal information. A somewhat regulated exchange is the go to option. I'm not too sure about Local Bitcoins, because I don't know the exact laws governing money transmission services. There are regulations in place within the U.S that require money business transferring licence, some states require it as well as federal registering.
There are policy's for AML/KYC that must be met in order to do so, etc. Like I said, I'm not sure, but I think you should consult with you're local financial attorney/ advisory/ professional if you're not sure, at least before making any hasty moves.

Just my two cents!

joeperry

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The thing there is the good exchange sites, you can use google to search for the top cryptocurrency exchange or you can go this and check the rankings of the exchange: https://coinmarketcap.com/rankings/exchanges/ If you're selling bitcoin you can also look at the volume of that coin to the exchange.

After choosing your top 3 exchange don't create an account yet instead do a research about their rules and regulations, minimum withdrawal and exchange fees. You can also read some reviews about the exchanges you choose and from that you can now choose a good exchange. Don't choose an exchange with lower fees but sacrificing the safety of your funds choose an exchange that has a fee but can secure your account and funds... However i think the fees are not that high and I think it depends on how big are you going to withdraw

This is all according to my own experience of using cryptocurrency exchange sites.

Paybis

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The best way is to Use Bitcoin - Coinmap.org, check things around you and you would most probably be surprised that more and more places start to accept Bitcoin as payment

Get a Pica for example Cool

pakhitheboss

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If you can HODL, then please do.

If you still want to sell your Bitcoins then first option will LocalBitcoins - https://localbitcoins.com/

Always check the profile of the buyer/seller on LocalBitcoins to check their Trust score. You may only incur bank charges for transferring fiat. Since, everyone registered with LocalBitcoins have to verify the mobile number. You can contact them to see whether they can buy Bitcoins over the counter, if the buyer is local. Then you can do the transaction in cash without incurring any bank charges.

Cacingkemi

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Quote from: mk4 on April 24, 2019, 11:59:02 AM

Quote from: r1s2g3 on April 24, 2019, 11:45:58 AM

It might be hacked account of some past reputable user or some past reputable user sold it and now new owner might be dishonest.

Possibly, but what are the chances that every single one of OP's friends had the same experience? I'm still leaning towards them transacting with non-reputable LBC users.

I better choose another exchange if to use LocalBitcoins for transactions, the high price when buying and when selling demand is very low. Its not clear that exchange works and I'm not interested in lingering there, moreover seeing a bad reputation regarding exchange.

kingpin4321

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If you are in a location where bitcoin or cryptocurrency is legal to deal in I would still advice you to use an exchange although you claim to have had some challenges with an exchange that could be probably as a result of not using a top exchange. I use luno for all my bitcoin transcation and the fee are quite minimal with no loss of bitcoin.
Although you can sell your bitcoin offline I don't advice that but if you must employ the services of an escrow

minersday

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You can trade your Bitcoin for fiat money on this forum using escrow but since you don't want to pay for extra charges and fees, you can try exchange platforms like coinbase if only they are available to use in your country. Its the safest way to exchange your Bitcoin for fiats with less fee charges. But I'm kinda surprised that your friends had bad experiences making transactions on localbitcoin.

kryptqnick

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Quote from: Edsection on April 24, 2019, 09:12:56 AM

Quote from: mk4 on April 24, 2019, 08:59:37 AM

It would help to tell us what local currency and what country you are in first, then people might be able to make good suggestions.

Personally though, as I always say to threads like this, LocalBitcoins[1]. Just make sure you're buying or selling to decently reputable people. Also, my second option is Abra[2]. Though I can't choose my own prices or set up buy/sell offers, it's still pretty much seamless on my side.

[1] https://localbitcoins.com/
[2] https://abra.com/

My currency is Euro and I am in Latvia. Yeah well, couple of my friends has a bad experience with LocalBitcoins so...

I am not sure how this will work for you, since I am from a different country with a different fiat currency, but I usually use this website when it comes to fiat/crypto exchanges: https://www.bestchange.com/bitcoin-to-euro-cash-in-riga.html. This is what it offers for people from Latvia, and perhaps it's not what you are looking for, but I always use the exchanges this website offers, and I have never been scammed there. I notice now though that these exchanges are only for big money transfers. You can still try to explore the website, and maybe you'll find what you need there.
Another option you can try is choose the trading pair with EUR and use one of the listed exchanges: https://coinmarketcap.com/currencies/bitcoin/#markets. The exchanges are reliable, but you have to look into fee structure. They might also require kyc if that's a problem.

mk4

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Quote from: r1s2g3 on April 24, 2019, 11:45:58 AM

It might be hacked account of some past reputable user or some past reputable user sold it and now new owner might be dishonest.

Possibly, but what are the chances that every single one of OP's friends had the same experience? I'm still leaning towards them transacting with non-reputable LBC users.

r1s2g3

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Quote from: mk4 on April 24, 2019, 10:56:16 AM

Quote from: n0ne on April 24, 2019, 09:27:59 AM

*snip*

Quote from: Bitinity on April 24, 2019, 10:05:56 AM

*snip*

Pretty much this. I'm guessing that your friends probably picked to transact with people with little to no reputation, hence the bad experience. If possible, try looking for people to transact with personally, in a mall, a bank, or somewhere safe enough to transact significant amounts of money.

It might be hacked account of some past reputable user or some past reputable user sold it and now new owner might be dishonest.

What about buying things from BTC for your friends and accept fiat from them .(No idea if purse.io or something equivalent to it exist in your country.)

erikoy

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There are many reliable exchanges. Just do not forget to check on exchange sites on the minimum cash out or maximum.cash out and the level.of KYC to do when it will involve huge money. There are exchanges that do not do KYC but either exchanges doing KYC or not will do fine just to be sure that they the exchange is working then try to.deposit little amount first and then sell.

cogentjm

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Quote from: Edsection on April 24, 2019, 08:54:47 AM

Hey guys!

Some of you may think that my question will be dumb and that Google can help me but Google does not have everything - it does not have personal experience.

My question is - how can I sell my BTC without paying high fees to someone? I made a big mistake and lost my BTC using an exchange that's not reliable. In the end, it turned out they don't even have a customer support team.

I need a personal experience of how you have done it or maybe a place or an article where you can learn these things.

Because of the price increase, I want to sell some of my Bitcoins but I want also to make sure the transaction goes through.

Hi,

There are many ways to sell your bitcoins:

cash: you can search BTC dealers on localbitcoins
bank transfer: also you can search BTC dealers on localbitcoins or sell on high ranked exchanges

You can search trusted exchanges on coinmarketcap.com..

mk4

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Quote from: n0ne on April 24, 2019, 09:27:59 AM

*snip*

Quote from: Bitinity on April 24, 2019, 10:05:56 AM

*snip*

Pretty much this. I'm guessing that your friends probably picked to transact with people with little to no reputation, hence the bad experience. If possible, try looking for people to transact with personally, in a mall, a bank, or somewhere safe enough to transact significant amounts of money.

Mbitr

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Quote from: okala on April 24, 2019, 09:42:30 AM

Quote from: Mbitr on April 24, 2019, 09:22:32 AM

A bitcoin atm is always an easy way to sell btc.
There appears to be one in Riga

https://coinatmradar.com/bitcoin_teller/6254/bitcoin-teller-bitcoin-teller-riga-crypto-embassy-cryptocash/

It’s worth checking it out, but always check the fees first .

That so cool and the first time am seeing someone suggesting bitcoin ATM for selling bitcoin, can you please tell us the fee on transactions from the ATM. I normally use Remitano.com it a p2p escrow platform and the charge a fee of 0.0002 btc for any deposit to your account on the platform.

I’ve just had a quick look at that atm in Riga and it doesn’t supply the fee structure.
On atms in the UK , you are looking at about 2-3% for selling btc and unfortunately for buying it can be up to 10% Sad

Personally I’ve bought btc at btc atms , but never sold .

Bunsomjelican

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Quote from: Edsection on April 24, 2019, 08:54:47 AM

Hey guys!

Some of you may think that my question will be dumb and that Google can help me but Google does not have everything - it does not have personal experience.

My question is - how can I sell my BTC without paying high fees to someone? I made a big mistake and lost my BTC using an exchange that's not reliable. In the end, it turned out they don't even have a customer support team.

I need a personal experience of how you have done it or maybe a place or an article where you can learn these things.

Because of the price increase, I want to sell some of my Bitcoins but I want also to make sure the transaction goes through.

If you have a Bitcoin balance into your wallet, it means either you Bought it into some exchange platform or you Bought it to the person. If you want to sell it to someone perhaps localbitcoins will suite for you dude. But you can also sell it too at the top exchange platform site at the coinmarketcap.

Bitinity

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Quote from: Edsection on April 24, 2019, 09:12:56 AM

Quote from: mk4 on April 24, 2019, 08:59:37 AM

It would help to tell us what local currency and what country you are in first, then people might be able to make good suggestions.

Personally though, as I always say to threads like this, LocalBitcoins[1]. Just make sure you're buying or selling to decently reputable people. Also, my second option is Abra[2]. Though I can't choose my own prices or set up buy/sell offers, it's still pretty much seamless on my side.

[1] https://localbitcoins.com/
[2] https://abra.com/

My currency is Euro and I am in Latvia. Yeah well, couple of my friends has a bad experience with LocalBitcoins so...

Means that your experience did not choose reputable seller. Actually localbitcoins is great place to sell your bitcoin, you only need to find reputable seller and check the reviews.

dothebeats

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Quote from: Mbitr on April 24, 2019, 09:22:32 AM

A bitcoin atm is always an easy way to sell btc.
There appears to be one in Riga

https://coinatmradar.com/bitcoin_teller/6254/bitcoin-teller-bitcoin-teller-riga-crypto-embassy-cryptocash/

It’s worth checking it out, but always check the fees first .

The thing is, bitcoin ATMs do have high fees in them whenever one wants to create transactions and OP is looking for ways to sell bitcoin with low fees. The first thing that comes to my mind are DEX platforms though it's a bit hard to see that's reliable and trustworthy. Another thing is this very forum on the currency exchange section which isn't that active compared to its heydays in 2017. The last option you have is to register on an exchange and read carefully on how to sell your bitcoins in order to not make the same mistake ever again.

DreamStage

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I have been using Coinbase since every and i can easily / safely say it's one of the bests not to say the best one out there of any exchangers.

Coinbase provides you an easy way for you to buy / sell your coins as long you fill out their KYC (Know Your Customer) requirements - which is preaty easy as well if you are legitm in filling such form.

It has specific fees as well for each country: https://support.coinbase.com/customer/portal/articles/2109597-buy-sell-bank-transfer-fees

Haunebu

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First preference : P2P exchanges like LocalBitcoins : Find buyers with 100% ratings and trustworthy feedback and execute the trade. Everything will be held in escrow. Your friends were unlucky in this case.

Second preference : Popular exchanges like Binance and Bittrex

Enable 2FA and execute your trades!

MarketingBeast

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Quote from: BitcoinYu on April 24, 2019, 09:17:52 AM

With the recent pump, many people have been thinking about selling their Bitcoin holdings.

I don't blame you.

I saw this question also when BTC hit 19k back in December 2017.

Don’t sell your Bitcoin at the first available exchange. You will end up paying a lot more than you should, just like you already did, and you will not get the best exchange rates.

And, on top of that, it is often as you said - Customer support is nowhere to be found.

That is why everyone should read guides and perform his own research.

The one thing I would recommend you is this - https://paybis.com/news/how-to-sell-bitcoin/

This is a great guide for beginners and experienced crypto enthusiasts alike.

They have everything from different ways to sell your Bitcoin all the way to what you have to do after the sale and info about taxes you might need to pay.

I hope it comes in handy Wink

Thanks for sharing this. Exactly what I was looking for Wink

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