What is the cheapest way to withdraw Bitcoin to USD?

zxcv1

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Quote from: Hobo66 on February 13, 2021, 12:52:40 PM

Coimbase is one of the best place where you can exchange Btc to Usd very easy and in very cheap. Tax is very small compared to another exchange.
Bitrex is good but i l will also suggest you binance exchange where fee are also low and you can easy withdraw to bank.

Coinbase is one of the most expensive exchanges. I'm pretty sure you work for Coinbase.

Hobo66

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Coimbase is one of the best place where you can exchange Btc to Usd very easy and in very cheap. Tax is very small compared to another exchange.
Bitrex is good but i l will also suggest you binance exchange where fee are also low and you can easy withdraw to bank.

zxcv1

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Quote from: DannyHamilton on February 11, 2021, 05:18:22 PM

Quote from: zxcv1 on February 11, 2021, 09:59:35 AM

Probably would not meet up in person, too much risk of robbery from someone when I am talking about how much bitcoin I have purchased. I'll keep my online profiles separate from my in real life self.

I understand your concern, and given how big the world is, I suspect you aren't anywhere near Chicago anyhow.

However, if safety is the only concern, I'd be happy to meet in the lobby of a police station? Or on the floor of a casino (They have pretty good security in those places)? Or anywhere else with really good security.

Nice point, but police stations are also dangerous. Not from you, but from the police and criminals there. On the floor of a casino is an interesting idea. But no, you're nowhere near me, and also I don't have any casinos around.

zxcv1

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Quote from: Travel Standard on February 12, 2021, 09:40:29 AM

Coinbase is very safe and cheapest. Another good exchamge is Binance p2p
You don't have to buy an entire Bitcoin at $45k. You can buy $10, $100, $500 worth etc. Each Bitcoin is broken down into 100 million parts called Satoshis. (Just like one dollar is broken down into 100 cents).

Why are you posting things that are so wrong? Coinbase is one of the most expensive.

Travel Standard

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Coinbase is very safe and cheapest. Another good exchamge is Binance p2p
You don't have to buy an entire Bitcoin at $45k. You can buy $10, $100, $500 worth etc. Each Bitcoin is broken down into 100 million parts called Satoshis. (Just like one dollar is broken down into 100 cents).

Lordhermes

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Withdrawing directly from US exchange coinbase and bittrex takes a lot of charge of about 1.49% of your money, meanwhile simply exchanging your btc for USDT_TRC20 will cost you nothing, there are pretty some some good p2p services that can you can use to fasten your transaction without much time and charges.
Transacting with some p2p service requires KYC for higher transaction of 1 btc and above, meanwhile phone number lower tier verification gets you off the from the higher charge slumber of coinbase and bittrex.

traderethereum

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Quote from: zxcv1 on February 11, 2021, 12:09:29 PM

Seems to be wrong because I know for a fact you can get way lower fees by first switching to XLM in coinbase based on multiple other people saying similar. Also, P2P exchanges often do have KYC.

You can convert into altcoin such as XLM to reduce the fees, but if you sell XLM, your profit will not be bigger if you still hold bitcoin, especially if the bitcoin price can increase the price now.
You need to wait for a while to sell XLM until the price can increase to make a big profit, but there is an unknown time for you to wait for the price.
I think the fees are not too high compare to your profit, so I think the fees will be small.
But I wonder how much you want to pay the fees if you're going to search which exchanges can use low fees to withdraw bitcoin to USD.

charlesmichel1

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I guess the cheapest way to cash out Bitcoin is to find a person and sell your crypto with no intermediaries.

xceltokenplus

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Please Check the following link http://bitquick.co

0% fee, and you can price your coins a few % points above market rate.

GreatArkansas

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There are a lot of ways to exchange your Bitcoin to USD, or in short, sell your Bitcoin.
One of the best ways is using BestChange(https://www.bestchange.com/).
There are tons of exchangers there with respective rates for different cryptocurrencies especially Bitcoin. If you are conservative on the spread price, then it is best to use BestChange to check some of the prices.
On every exchange there, you can check also their reviews from other people, so you are aware of some flaws of exchanges listed there.

jrrsparkles

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Quote from: zxcv1 on February 11, 2021, 12:09:29 PM

Also, P2P exchanges often do have KYC.

LBC and Paxful have strict KYC regulations now but not every p2p platforms have such requirements. For example here is the advertisements for buying and selling bitcoin for USD : https://localcryptos.com/Bitcoin/United_States

DannyHamilton

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Quote from: zxcv1 on February 11, 2021, 09:59:35 AM

Probably would not meet up in person, too much risk of robbery from someone when I am talking about how much bitcoin I have purchased. I'll keep my online profiles separate from my in real life self.

I understand your concern, and given how big the world is, I suspect you aren't anywhere near Chicago anyhow.

However, if safety is the only concern, I'd be happy to meet in the lobby of a police station? Or on the floor of a casino (They have pretty good security in those places)? Or anywhere else with really good security.

logfiles

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Quote from: zxcv1 on February 11, 2021, 09:04:13 AM

What is the best/cheapest way to withdraw Bitcoin out to USD, one way or another?

P2P exchange would be the best way in my opinion, but you must have in mind about the Bitcoin transactions fees. Sometimes the fees tend to spike. Also where you come from is very important. If there are so many traders with offers, the trading rates are usually good.

Momoamzad

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I think selling bitcoin P2P is the best way to get USD. There are many exchanger you can covert them but still you have to sell them to get USD or cash. You can also take them to your bank account by exchange BTC to USD.

zxcv1

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Quote from: jrrsparkles on February 11, 2021, 11:14:31 AM

Quote from: zxcv1 on February 11, 2021, 09:04:13 AM

I found a site claiming to have paths to do it and you could search, a fee calculator, but it was way outdated as it had bitcoin price at about 5k. It also said to use Coinbase Pro which had no fees, but I'm pretty sure that loophole is closed now.

Another site claims Bittrex is the best way, to transfer your BTC into Bittrex and then convert to USD and withdraw to bank.

Another site says to convert Bitcoin (BTC) to Litecoin (LTC) or Stellar Coin (XLM) and withdraw through Coinbase or your preferred method.

Another suggests Gemini.

I'm also concerned about "spread" which while they claim it is to "protect" you, let's be honest, it's there to wait a few days to pick the best price for THEM so they can steal the most fees and make the most profit off your money.

What is the best/cheapest way to withdraw Bitcoin out to USD, one way or another?

Coinbase pro and Binance US are the best exchanges out there but you can't say they have less fee but compared to coinbase it is cheaper. If the amount is small and willing to accept other payment mode like Paypal then you can use peer to peer platforms which has no KYC also.
I don't think you need to convert your btc to another coin if you want BTC straight away because no matter which coin you sell for fiat the procedure is same with bit more time.

Seems to be wrong because I know for a fact you can get way lower fees by first switching to XLM in coinbase based on multiple other people saying similar. Also, P2P exchanges often do have KYC.

jrrsparkles

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Quote from: zxcv1 on February 11, 2021, 09:04:13 AM

I found a site claiming to have paths to do it and you could search, a fee calculator, but it was way outdated as it had bitcoin price at about 5k. It also said to use Coinbase Pro which had no fees, but I'm pretty sure that loophole is closed now.

Another site claims Bittrex is the best way, to transfer your BTC into Bittrex and then convert to USD and withdraw to bank.

Another site says to convert Bitcoin (BTC) to Litecoin (LTC) or Stellar Coin (XLM) and withdraw through Coinbase or your preferred method.

Another suggests Gemini.

I'm also concerned about "spread" which while they claim it is to "protect" you, let's be honest, it's there to wait a few days to pick the best price for THEM so they can steal the most fees and make the most profit off your money.

What is the best/cheapest way to withdraw Bitcoin out to USD, one way or another?

Coinbase pro and Binance US are the best exchanges out there but you can't say they have less fee but compared to coinbase it is cheaper. If the amount is small and willing to accept other payment mode like Paypal then you can use peer to peer platforms which has no KYC also.
I don't think you need to convert your btc to another coin if you want BTC straight away because no matter which coin you sell for fiat the procedure is same with bit more time.

Fesatmas

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Quote from: DannyHamilton on February 11, 2021, 09:52:45 AM

Are you anywhere near Chicago, Illinois, USA? How much Bitcoin are you trying to convert? Depending on the answers to those two questions, I might be willing to meet up with you somewhere public and just exchange cash for your bitcoins, no fees needed.

yes I agree if you want low fees, even your advice and invitation to pay bitcoin is very much safer and without major deductions. maybe after this he would think of a suggestion and meet up. if the bitcoin is quite relevant, for example 1 bitcoin.

hd49728

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Not your keys, not your coins!

Your question is not correct. You can not withdraw your bitcoin to USD.

You must sell your bitcoin to get USD
Or you must convert your bitcoin, with provided conversion on exchange, to USD

And withdraw your USD from exchange you your bank account.

If you do P2P trades, you can get sell your bitcoin and get your USD directly. No need to do withdrawal with P2P trades.
Help: A list of LocalBitcoin alternatives (P2P marketplaces)

Withdrawal fee: https://withdrawalfees.com/

zxcv1

newbie

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Quote from: DannyHamilton on February 11, 2021, 09:52:45 AM

Quote from: zxcv1 on February 11, 2021, 09:04:13 AM

I found a site claiming to have paths to do it and you could search, a fee calculator, but it was way outdated as it had bitcoin price at about 5k. It also said to use Coinbase Pro which had no fees, but I'm pretty sure that loophole is closed now.

Another site claims Bittrex is the best way, to transfer your BTC into Bittrex and then convert to USD and withdraw to bank.

Another site says to convert Bitcoin (BTC) to Litecoin (LTC) or Stellar Coin (XLM) and withdraw through Coinbase or your preferred method.

Another suggests Gemini.

I'm also concerned about "spread" which while they claim it is to "protect" you, let's be honest, it's there to wait a few days to pick the best price for THEM so they can steal the most fees and make the most profit off your money.

What is the best/cheapest way to withdraw Bitcoin out to USD, one way or another?

Are you anywhere near Chicago, Illinois, USA? How much Bitcoin are you trying to convert? Depending on the answers to those two questions, I might be willing to meet up with you somewhere public and just exchange cash for your bitcoins, no fees needed.

Probably would not meet up in person, too much risk of robbery from someone when I am talking about how much bitcoin I have purchased. I'll keep my online profiles separate from my in real life self.

DannyHamilton

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Quote from: zxcv1 on February 11, 2021, 09:04:13 AM

I found a site claiming to have paths to do it and you could search, a fee calculator, but it was way outdated as it had bitcoin price at about 5k. It also said to use Coinbase Pro which had no fees, but I'm pretty sure that loophole is closed now.

Another site claims Bittrex is the best way, to transfer your BTC into Bittrex and then convert to USD and withdraw to bank.

Another site says to convert Bitcoin (BTC) to Litecoin (LTC) or Stellar Coin (XLM) and withdraw through Coinbase or your preferred method.

Another suggests Gemini.

I'm also concerned about "spread" which while they claim it is to "protect" you, let's be honest, it's there to wait a few days to pick the best price for THEM so they can steal the most fees and make the most profit off your money.

What is the best/cheapest way to withdraw Bitcoin out to USD, one way or another?

Are you anywhere near Chicago, Illinois, USA? How much Bitcoin are you trying to convert? Depending on the answers to those two questions, I might be willing to meet up with you somewhere public and just exchange cash for your bitcoins, no fees needed.

Maus0728

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Quote from: zxcv1 on February 11, 2021, 09:04:13 AM

What is the best/cheapest way to withdraw Bitcoin out to USD, one way or another?

This is already a topic back then, on what would be the ideal way to prevent high fees. And I would personally suggest that you use XRP. The process is pretty simple, you convert your BTC > XRP then convert XRP > USD right after. Remember that the price of XRP isn't volatile in the current market and it requires less transaction fees with faster speed -- hence it would be an essential way as you would only do it for withdrawal or deposit purpose (I won't recommend XRP trading, there are better and safer coins out there). And with that, let me show you a simple computation:

Using coingecko's conversion amount in current price point
1BTC = ~47,306.55 USD (if converted directly)

1BTC = ~90,455.719 XRP
And if you would use BTC > XRP then USD, you could have around ~47,413.81 USD. Plus the fee of XRP isn't cost even a penny.

zxcv1

newbie

Activity: 28

Merit: 5

I found a site claiming to have paths to do it and you could search, a fee calculator, but it was way outdated as it had bitcoin price at about 5k. It also said to use Coinbase Pro which had no fees, but I'm pretty sure that loophole is closed now.

Another site claims Bittrex is the best way, to transfer your BTC into Bittrex and then convert to USD and withdraw to bank.

Another site says to convert Bitcoin (BTC) to Litecoin (LTC) or Stellar Coin (XLM) and withdraw through Coinbase or your preferred method.

Another suggests Gemini.

I'm also concerned about "spread" which while they claim it is to "protect" you, let's be honest, it's there to wait a few days to pick the best price for THEM so they can steal the most fees and make the most profit off your money.

What is the best/cheapest way to withdraw Bitcoin out to USD, one way or another?

Topic: What is the cheapest way to withdraw Bitcoin to USD? (Read 221 times)