Bitcoin Forum

What is the BEST Place to convert BTC to USD?

I bought over 15 BTC in the last few weeks and I want to find a BEST place/wallet or exchanger to convert it to USD due to the Price float. The reason is, I bought BTC at the market price of 250 (including market price + commission%) and currently it fell down 238 to 222 which seems to me is a big lost in the last couple of days.

What is the recommended BEST place/wallet or exchanger that is safe and cost effective? (Trade fees, Deposit fees, Buying Price, Selling Price etc.)

 

I believe Circle has the lowest fees for US exchanges iirc, I may be wrong though.

I use the tool at http://preev.com/

;)

wouldn't selling it now, equal to a loss for you, you should hold now and hope for a rise, you aren't so far away anyway

i don't know where you live but coinbase is good enough for usa, and kraken is the best for euro

you can also try to deposit on bit-x there is no deposit fees, trading fees should be the usual 0.25%

oh i missed it, bit-x has a promotio about trading fees https://bitcointalk.org/index.php?topic=1077604.0

free until september it seems that you're lucky enough :D

as mentioned above, if you are not in some personal finance crisis, is not so smart to sell BTC now. best place is somewhere outside and sold BTC personally against cash.

for erb exchange, you must tell us where are you from (EU, US) to recommend you best place to sell...

What about BTC-E, BitStamp or Perfect Money? I want to keep the price stable until I sell someone in Local.

If you have a fixed sell price in mind, then it is better to create a sell call in LocalBitcoins.com or www.100bit.co.in. Former has 1% commission as against the 0.1% of the later.

I use LocalBitcoins.com never had a problem yet and used it over 10+ times to buy and sell.

Or try find a trusted exchange hosted in your country.

I used LocalBitcoins too. But I need to keep somewhere that can convert to USD which I don't worry about Price Float

try localbitcoins, you can get good price there (higher then exchange price if found a good buyer)

I used Coinbase since somedays ago, mostly because they could do it fast even with moderate fees... but for now Circle is just being amazing it's faster and their fees are much cheaper.. give a try i don't think you will lose your time. But as other told just do if you really need fiat otherwise i do think btc is getting stable after all those last year events to start rising again (slowly but rising)

Two things to consider.

If you sell your coins now you are locking in a guaranteed loss. Bitcoin is an awful investment and speculating on it is not something I would advise. But since you want to do it, play it out. The recent loss of value is nothing compared to how bitcoin acts. I have seen it drop hundreds of dollars in weeks and go back up that quick. You may want to put it away for three to five years then re-evaluate your position.

Secondly, why sell them when you can spend them? Bitcoin was never envisioned as an investment. It is the fastest, cheapest, and most secure way to pay anyone anywhere. You don't need money, you already have money with bitcoin and can spend at tens of thousands of places. I ONLY use them online and I want for nothing. If you buy coins you pay a fee. But then you pay a fee to convert them back and a fee to spend the dollars with a credit card or PayPal. Why? your wasting money that way and risking your identity.

localbitcoins ...of course, this method of direct sales has risks. It is suggested that any cash purchases that are completed face-to-face should involve a public meeting places.

An exchange is the best place, but it depends on where you are from, Europe,UK or Asia

I think the best place for that is localbitcoins.com

I always sold there and got the money direct on my bank account.

I agree with the others who say don't sell for fiat right now.  Bit coins are VERY volatile.  The price swings all the time so don't let the recent price change spook you.  I believe that the price bottomed and bounced in the low 220's, and it will continue up over the next weeks and test resistance ~240.  I am not an expert trader and that is just my opinion.  I suggest that you read up some more on what others think the price is going to do before you make a decision.

To exchange I like coinbase for simple transactions.  It is easy to use and noob friendly.  They may not have the best prices but they are competitive and respected.  Other exchanges may be cheaper but have a bad reputation (okcoin) or are more difficult to use (Kraken).  There are lots of places online to change money.  Rather than go for the cheapest try to find one that is reputable and will transfer the money in a way that you want (wire transfer, bank transfer, or whatever you are looking for).  Be sure to check on the transfer costs because some exchanges charge a ton of money for some services like a wire transfer while others are more reasonable.  That being said you should think about holding on to it.