Topic: What are the ways i can cash out Bitcoin in another country? (Read 686 times)
You can use Paypal to make withdrawals, I have not tried this method yet but there are many people who have used it smoothly in recent times. If you can't use paypal, it's best to trade P2P and get cash. I think this is a simple way but it will take some of your time
I heard that you can send your bitcoin in your paypal account to convert it into fiat and for you to cash out in other countries. But in our country which is the Philippines, we have a online crypto wallet named coins.ph that you can cash out your bitcoins and other cryptocurrencies like BCH, XRP, and ETH in your bank account and remittance center that are available at your place.
There are many platforms that may help you to convert your Bitcoin to other currency like Skrill, PayPal, even Bitcointalk forum has this services! Then you can easily cash them out through master card. Though this is not an easy process, you have to prepare before going to other countries. Most of the country doesn't have Bitcoin ATM, so, person to person is the only way at that time!
in my opinion search for bitcoin exchange service to paypal this will make it easier for you in any country if you exchange your bitcoin to paypal
Good point because PayPal is accepted and supports almost everywhere. But its good that before you travel, check if there is a local crypto exchange on that country, or whether crypto or BTC is legal and accepted. I not, then you can use third-party crypto to fiat services if available like Paypal, western union, etc. There are services out there but be careful some scams and fraud.
If i ever go to another country and try to cash out Bitcoin,
what are the ways?
Only two things i can think of...
1. Make certain bank account where i can cash out Bitcoin
2. In person
1st option may not be possible though at certain country...
Any thought?
Personally, I am not very fond of having a transaction in another person simply because I am the type of person who is cautious and doesn't want to make a deal in person.
Even, I can understand why you are not willing to cashout bitcoins directly in-person as most of the peoples including me does not feel this a reliable way to trade with bitcoins. I am living in a single country and did never intend to sell my bitcoins over the nation boundaries so until date, I never faced any such issue.
You can visit localbitcoin from your mobile phone to find local sellers, which will help you to cash out your bitcoin to that local currency. That is one thing that you can do while you stay in that country, and I am sure that you will get many good and recommended sellers that can help you. If you can find a bitcoin ATM, then you can go to that machine to cash out the bitcoin, but unfortunately, not all big countries will installed that machine. But the other way that you can do is before you go to another country, you can cash out your bitcoin with your favorite way, so you already have the money, and after your visit that country, you will not have to cash out your bitcoin.
be carefull with localbitcoin
is blocking accounts in 22 countries
https://es.cointelegraph.com/news/localbitcoins-freezes-user-accounts-from-over-22-countries-panama-and-puerto-rico-among-the-countries-affected
So he needs to find another way to cash out his bitcoin. He can find local sellers from here, or he can use the bitcoin ATM. But the best suggestion to him is before he travels to another country, he should cash out to fiat, and exchange to the local currency that he wants to visit so he doesn't have to think about cashing out his bitcoin in the destination country. That can prevent him from the scam, and he can also have the money that he will use in another country. He can Google about his question, and I am sure that he can find the right answer before he visits the other country.
Maybe for some countries that have a Bitcoin ATM, it can be withdrawn directly. But what about migrant tourists who don't have an ATM card to withdraw on BitcoinATM? wouldn't this be troublesome too. The only way is to use a debit card that is owned by Visa / Mastercard in which the funds will be sent from the exchange to our bank account, then use cash withdrawals with a debit bearing the Visa / Mastercard logo.
You want to find out the Bitcoin ATM country and where you are traveling in that place ATM should be available so find out that first and if you found also the transaction fee is very high so i suggest than doing Bitcoin cash out better you can convert it or purchase something as your requirements or you can travel there are so many ways but I don't find this is worth.
Do your own research and be smart.
Do your own research and be smart.
If i ever go to another country and try to cash out Bitcoin,
what are the ways?
Only two things i can think of...
1. Make certain bank account where i can cash out Bitcoin
2. In person
1st option may not be possible though at certain country...
Any thought?
but best thing is use banks so there will be no other party need to use,just you and bank employees.
I think you will be having a hard time.
There are a lot of countries that do not accept Bitcoin or any other cryptocurrencies. Maybe you can check other exchanges in your place that might be able to help you. Also, you could just use exchanges in your place and make a cash out in your country through your ATM or another mobile wallet, that would be easy and you are ready, don't need to pose that as a problem when you are already in that country.
There are a lot of countries that do not accept Bitcoin or any other cryptocurrencies. Maybe you can check other exchanges in your place that might be able to help you. Also, you could just use exchanges in your place and make a cash out in your country through your ATM or another mobile wallet, that would be easy and you are ready, don't need to pose that as a problem when you are already in that country.
But the no. 2 option is more safe and secured when you don't know that the country you want to cash out bitcoin is against cryptocurrency. For example, in China, the government is against the cryptocurrency but still there are people who still continuously uses bitcoin. It is possible to cash out bitcoin there but it is very hard to have someone to transact with and if you'll do the 2nd option, you should know if the person is a legit and trustworthy for you to prevent being scammed.
Maybe there are a project that allow us to deposit bitcoin or ethereum and with their card they can immediately exchange to fiat that we can use as long it supported VISA. If me not wrong in past there are a project which like that and still developed until now. But can't remember what project is it.
Well it is possible depending on the country are you going to visit, if Bitcoin and other cryptocurrency is banned in a certain country then it is really impossible but if it accepted then you won't any have a problem our cashing it out.
Personally, I am not very fond of having a transaction in another person simply because I am the type of person who is cautious and doesn't want to make a deal in person.
It is better to cash out first before we visit other countries for the our safety benefits.
It depends on the country you are, there are some countries that prohibited cryptocurrency and some some of the country accepts cryptocurrency if you're in a country that accepts cryptocurrency then you can easily find a service on where you can cash out your cryptocurrency to cash.
But if you are in a country that prohibited cryptocurrency I think you can do it in persona trade however it would be risky and you may find yourself in trouble if you get caught, just like what I've said it is consider as an illegal act if you get caught.
Imagine police catches you trading bitcoins in a foreign nation and that too illegally. This itself sounds hasty. Trading with in-person over the seas can be riskier for us as there would be the possibility of police or any legal authority catching us for doing so at it would be something which would violate their financial laws according to their country. And if any foreign individual is caught violating any of the national laws than a strict action is taken against the same so it would never be something which we would expect. Except, we can cashout our bitcoins in our nation itself before our journey to the another nation and then easily convert our fiat currency to theirs at any local currency exchanger. But if you are in a country that prohibited cryptocurrency I think you can do it in persona trade however it would be risky and you may find yourself in trouble if you get caught, just like what I've said it is consider as an illegal act if you get caught.
With your bank account and having a MasterCard or Visa debit card you can get money in any country. Just like where I live, if you open a bank account you’re given a debit card and those cards are branded with different names like MasterCard, Visa, etc. With these two I’m sure that you can withdraw money from your bank account from any ATM around the world that has the MasterCard and Visa logo on it. So what I do is that I simply withdraw my bitcoin from my Luno Bitcoin wallet and it goes to my bank account and I then withdraw from any ATM wherever I am.
If i ever go to another country and try to cash out Bitcoin,
what are the ways?
Only two things i can think of...
1. Make certain bank account where i can cash out Bitcoin
2. In person
1st option may not be possible though at certain country...
Any thought?
Bitcoin ATMs or if your country that you go have local exchange which able to convert cryptocurrency to fiat of their country you can use it.
I think the exchange option is better compared to bitcoin atms which known takes too high fee for redeeming our crypto to fiat. But if the bitcoin atms is the only way, you should use it.
If OP was already aware about the bitcoin ATM and if the place he is living currently has any of such ATM's than I am sure until now OP might already have been used such ATM's as using those ATM to in cash our bitcoins is always a better option in foreign countries as we hardly have any local documents for verification onto any of the local exchanges so it might not be a suitable suggestion for OP.
Bitcoin ATM are convenient to use but what we lack is the availability of those globally. Most of the countries do not even know what actually bitcoin ATM's are and they have not yet seen any of such regulating so there needs to be awareness about those globally.
If i ever go to another country and try to cash out Bitcoin,
what are the ways?
Only two things i can think of...
1. Make certain bank account where i can cash out Bitcoin
2. In person
1st option may not be possible though at certain country...
Any thought?
Personally, I am not very fond of having a transaction in another person simply because I am the type of person who is cautious and doesn't want to make a deal in person.
As some user already suggest, most simple way is buy bitcoin debit card which will allow you spend money from worldwide. So you will not have to seek for any other way.
The problem however is that the level of monitoring happening on these cards is huge because the underlying financial institutions subject the issuers of these cards to extremely harsh/strict policies. I wouldn't want to risk visiting a country to find out that the card has been blocked due to "suspicous activity" and stay without funds for days.
In case people plan to go on a trip, make sure you cash out your coins before the actual trip and use a legacy fiat debit card instead of the crypto debit card crap. It's centralization on top of even more centralization. Relying on anything related to crypto is just a pain in the ass. Not worth it in my opinion, but people are free to do what they want of course.
Meeting up with someone in person would be the very last thing on my list. I don't want to signal to anyone that I own Bitcoin in person.
It depends on the country you are, there are some countries that prohibited cryptocurrency and some some of the country accepts cryptocurrency if you're in a country that accepts cryptocurrency then you can easily find a service on where you can cash out your cryptocurrency to cash.
But if you are in a country that prohibited cryptocurrency I think you can do it in persona trade however it would be risky and you may find yourself in trouble if you get caught, just like what I've said it is consider as an illegal act if you get caught.
But if you are in a country that prohibited cryptocurrency I think you can do it in persona trade however it would be risky and you may find yourself in trouble if you get caught, just like what I've said it is consider as an illegal act if you get caught.
If i ever go to another country and try to cash out Bitcoin,
what are the ways?
Only two things i can think of...
1. Make certain bank account where i can cash out Bitcoin
2. In person
1st option may not be possible though at certain country...
Any thought?
Really depends on what country you are going to visit. If you are visiting a country that is a Bitcoin friendly and many are trading locally thru LBC then it will be easy for you. I still remember tourist going on Thailand and just bringing BTC with them. And when arrived on the tourist destinations in Thailand, they find a lot of local traders, so that's one example how convenient for you to bring only Bitcoin in a country wherein it is readily acceptable.
I think it will not very easy sell bitcoin when you are travelling on other countries, especially if that countries are not crypto-currency friendly. Because you won't familiar with their ecosystem. You may sell via local exchange like localbitcoin, but you will have to meet with any local payment system there. Perhaps western union would helpful on that case to receive money. As some user already suggest, most simple way is buy bitcoin debit card which will allow you spend money from worldwide. So you will not have to seek for any other way.
Jump to: