Thanks, soham. I understand you are in another country. I was wondering if there is a way to transfer money from my usa bank, in usd currency, to a particular bitcoin purse/wallet type of company and then send it quickly to another place that accepts bitcoin.. in other words, not have to use the electrum wallet, but just one bitcoin exchange.. ?
I should say, I am not interested to trade bitcoin, I am interested to simply pass USD through in bitcoin, for the sake of decreased processing fees with credit cards or checks and money orders money grams or western union
Topic: What is best way to receive bitcoin from electrum wallet for conversion to USD? (Read 219 times)
November 07, 2017, 08:21:06 PM
November 07, 2017, 06:49:10 PM
There are many ways to do it. Let me tell you the way that I use to convert my bitcoins and take cash in my bank account. I use localbitcoins website. It is a trading platform where you will find a lot of local exchangers from USA. Create an account then go to "Sell bitcoin" option. Based on your registered country, the website will show you all available offers. Just open trade request with a trader whose offers matches your requirement. Transfer your bitcoin from your electrum wallet to the localbitcoins deposit address and then execute the trade. They offer a free escrow service, so you don't have to worry about your fund. Once you see your bank account is credited as per the agreed amount, release the escrow to the trader. It's that simple. Even though I don't live in USA, I have been using their service since a long time now and by God's grace, never faced any issue.
November 07, 2017, 06:32:33 PM
I'm fairly new to this, having had an electrum wallet for about a year, but not really using it but a few times. I used Circle bank, before they stopped honoring bitcoin. Then I was left with bitcoin in my electrum wallet, but I didn't mind , I doubled my money. But I could not get it back to circle bank a few months ago. Now I want to 'recieve bitcoin' to a place like circle or similar where I can simply transfer it back to USD and into my bank in the USA... any help? Thanks so much
Jump to: